Unit 26 - Managing Business Information P1 describe the characteristics of the information needed in a selected organisation. Please leave a review if you found this useful, thank you!
p1 describe the characteristics of the information needed in a selected organisation
btec business level 3 extended diploma
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Unit 26 - Managing Business Information
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Sadia Hussain Unit 26
Introduction
Apple is the world’s largest American Multination technology industry that designs and sells
many different products such as phones, laptops, IPads, TVs and watches. Apple was
founded in 1976 by Steve Jobs, Steve Wozniak. Apple is widely known for their most popular
product which is the iPhone. Apple just like any other company use a lot of information,
they gather information from many different sources and also of many different types. They
also make sure that the information that they use contains specific characteristics in order
for it to be reliable.
Type of information:
Qualitative research
Qualitative data is more about people’s opinions and views. It helps businesses understand
more about people’s motivations, thinking and attitudes when carrying out market research.
Some methods of qualitative research include interviews and focus groups. An example of a
qualitative research would be to survey people with open ended questions, and gain as
much opinions and depth in the answer as possible. Qualitative data makes it easier for the
business to understand their target market, because it is more communicative and
descriptive. “Qualitative data collects information that seeks to describe a topic more than
measure it. Think of impressions, opinions, and views. A qualitative survey is less structured:
It seeks to delve deep into the topic at hand to gain information about people’s motivations,
thinking, and attitudes.”
Quantitative research
From carrying out primary and secondary research, there are two types of data that
businesses find, qualitative and quantitative. Quantitative data is to do with numbers; it is
data that can be transformed into usable statistics. Quantitative data includes surveys and
polls showing people’s opinions by numbers, such as how many people picked something,
how much and how often. An example of quantitative data would be a question asking how
often people drink a coffee day; another example would be asking people about the overall
satisfaction of an experience in figures. “Quantitative data is designed to collect cold, hard
facts. Numbers. Quantitative data is structured and statistical. It provides support when you
need to draw general conclusions from your research.”
Primary
Primary research is the new research that businesses carry out; it can involve
questionnaires, focus groups, surveys and interviews. “Primary research is research you
conduct yourself (or hire someone to do for you.) It involves going directly to a source —
usually customers and prospective customers in your target market — to ask questions and
gather information.” Businesses carry out primary research to find out more about the
target market that they are targeting. Primary research can also include experiments that
have not been done before and businesses carry out this type of research to find out
information that has not been already found, for example interviewing individuals and
finding out information that has not been found before by asking those questions.
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