How Information Is Used

By Lewis

Task 1 How Data is transformed into Information

Business vale data very much as if the right data is collared it can be used to inform a business of meany diffraction things. Making sure trust worthy data is used is also very important to make sure that any dissension that are made using the data are right dissension to make.

The main way that data is transformed is by take sales data to make dissensions on the information that is calculated from the data. An example of using data to transform into information would be looking at items that sell the most in a store and using that data which would represent that that item needs to be stocked more to meet the demand of the customers.

How Marketing Uses information

Within a company a marketing team uses marking research to gain indite into what there users or customers do. They do this by collecting different types of information such as sales data to gather together and help them to understand who buys there product and allows them to use that data to help to improve the product or the marketing for the product. Another way that marketing uses information is finding out what the best ways of reaching new people would be to help to aim there advertisements better at there target adduce. Marketing teams gather data like this through the use of serves to find what the best way of reaching new people would be and analyze the data that they gain from this to improve there adverts and product placements to reach there target audience better.

How Purchasing uses information

The purchasing team in a company is in charge of making sure that there is the right amount of product for the company to sell and making sure that the company can keep up with the demand of there product is important but it is also important to make sure that a company dose not over stock a product as they may lose money if there is a sudden drop in sales for that product. The most successful method that this is done is by gathering and analyze resent sales data for each product and looking to see how well a product is selling and checking if there was enough of the product to satisfy the demand that there is for it and if there is not then the order can be changed based on that data.

How Manufacturing uses information

Manufacturing often uses data that has been collected using serves the best example of Manufacturing using data or information that has been collected would be customer feedback on a previous product or service. When a company decides to create a new product companies often collect data from known customers to help the Manufacturing team to improve the product and help to make it better. Manufacturing teams can also use customer data or information to help to improve the existing product.

How Finance uses information

Information can be used to gather the costs that the company has and help to know what future costs that company will need to prepare for.This can help to plan for costs that the company may need to change the way they work or improve efficient before it is too late for the company and help the company stay on track and monitor there costs as well as the incoming and outgoing money.

How admin uses information

Administration is uses all of the data collected and usually sorts the data so it can be used and collected into a central location. Administration are the people that gather together the reports and data.

How personell uses information

A company has human resources to gather together staff information and sort through all of the data that they have on them. This allows the company to look up a staff members details if they ever need to know something about the staff member such as there personal details or phone number.

how sales uses information

Sales teams would gather data from the sales that the company has made to understand what products are making the most profits to help them understand what products are the most popular. Gathering this data would also allow a company to see what products are not selling well and allow the company to take action to help improve sales. Sales teams also gather data using servers to understand what there customers want the most and understand what needs to be changed to improve sales or the product.

What is Quantitative Data

Quantitative data is made up all factual data such as this that can be proven to be true and statistics and data that has be collected such as sales data. Quantitative data is usually provided by a company and is usually data that is number based and is a factual view of things through spastics.

What is Qualitative Data

Qualitative data is all about views of a customer or a user and data that is collected through things such as serves to collect data for a company to use. Most qualitative data is very subjective and is the own view or opinion by the person and not based on spastics when provided. Most qualitative data is usually a positive or negative view on a product or service with opinions by the users or customers. qualitative data can sometimes not be trusted for important dissensions as basing a important dissension on a small goop of customers may not be as important as looking at factual data.

Primary & Secondary data

Primary Data

Primary data is data that is collected directly from the source using things such as customer surveys to collect information. Primary data is data that you know the origin of the data. Other ways of collecting primary data is using interviews to also gather information from known places or people.

Secondary data

secondary data is data that comes from external inputs from things such as the Internet and TV from things such as adverts and TV programs. Information can also be gathered from articles from the Internet as well as written articles.