L3 Unit 3 Assignment 1

Using information

Sales

The sales area is interested in what has been sold. They are also interested in who has bought it and how much they bought.


The information is usually separated into groups:

Product and Product group

store location or outlet

The member of staff that sold it.

The customer and type of customer.

Purchasing

The purchasing department is only interested in their suppliers and what they are doing. They evaluate the suppliers and the goods they provide. They also see if the suppliers have the goods they need.

Manufacturing

The manufacturing department is a very important one. It constantly evaluates how well the products are being created and how efficiently the machines are running. The manufacturing department constantly sees how quickly they can react to changes in market.

Marketing

The marketing team evaluates the best customers to sell to. They also evaluate their competitors. They segment their marketing into groups and target them with their advertisements and products.

Finance

The finance department is interested by what the company is spending and how much.
It is also interested by how the money is acutally being spent. They help to guide the company and aim to prevent the company from running out of money.

Personnel

The personnel department covers how people are being used. They view what staff members do and how they are being treated. They view the information about the staff members they employ.

Administration

The administration department will oversee the entire company and all of the departments. They are responsible for setting reports and monitoring the departments.

Qualitative Information

This data is more about the descriptions about information and the facts about it.
This is descriptive data for things like the colour, texture etc.
This data is harder to measure than quantitative data.

Quantitative Data

This more number based than qualitative data. It deals with the amounts of things rather than the descriptions of them.

Things like the length, height and area are the things recorded here.
This can also include customer data for things like age and the amount of members.

Primary Data

Primary data comes directly from the sources. It is made at the time the thing it is being made about is occuring. These generally consist of the raw data that hasnt really been looked at too much.

Secondary Data

Secondary data comes from afterwards and is usually made by someone who wasnt present when the event occured. It often has mutiple sources and has elements of hindsite in it.
Secondary data can be very useful to other busninesses so they don't make the same mistakes that one business does.

The characteristics of good information

The information should be able to be used for the purpose that it is created for. This makes it valid.

The infromation should be correct, this makes it reliable. The sources that the information are valid trusted sources.

The information should be from the correct time period, making it timely.

The information should be fit for purpose meaning that it makes sense with with what it is supposed to do.

When the information is accessible, it means that it can be accessed when it is needed, easily. It should also be easy to understand.

It should not cost more to make the information than the information will make in a profit. For example if the information costs about £2000 to make it should make more than that to be cost effective.

Making the infromation accurate is important. This is important because if the information is inaccurate it may end up with the user of the information breaking the law.

The infromation should be relevent. Meaning that the business should actually have some use for it. An example i found is a bakery looking at the price of metal. Not really all that relevent.