MG413 Data Insights For Business Decisions in Grocery Retail
MG413 Data Insights For Business Decisions in Grocery Retail
MG413 Data Insights For Business Decisions in Grocery Retail
02/11/2021
TEAM PRESENTATION
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Table of Contents
INTRODUCTION
1. Type of Data and if there is BIG DATA in grocery sector
3. HOW information is capture/ stored with types of databases and management information
systems
5. Data in the day to day operations within that sector and what is strategic to the organisation
within in grocery sector
7. Conclusion
8. References 3
Introduction
The global economy has been impacted by the pandemic situation of
COVID-19. This was a total transition to a digital world.
One of these recent technological contexts is the arrival of BIG DATA in
the companies. By harnessing the primary and secondary sources from
TRADITIONAL MARKET RESEARCH, retailers identify and analyse the
needs, wants and motivation in buying the products. The advancement of IT in
management provides access to the BIG DATA in the grocery sector. If the
market research is based on the information from the past and present, the BIG
DATA can forecast the trends and prices in the organization.
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KEY PLAYERS- Top 10 UK Retailers:
Grocery
• Marketing campaigns and promotions
Data analytics takes advantage of the valuable dat
a generated by consumers whenever they purchas
e items, be it offline or online.
• Pricing
In the supermarket’s price-
sensitive industry, determining the right price that
will attract enough customers and allows them to
stay competitive is a difficult task
• Inventory management
Replenishing items only when stock is low is no l
onger viable in today’s age .
2. Describe orthodox market research and how this is
different from Big Data
Experiments/ Tests/Survey with customers Internet ( market reports, industry reports, research
companies, published materials)
(observations)
The grocery retailers use primary sources such as questionnaires, interviews, surveys,
feedback with customers (web, telephone, Postal, focus groups,) in order to identify,
understand and anticipate the target market.
Waitrose uses the survey “Have Your Say" as a tool of the orthodox market where the
customers can share their feedback.
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According to LUGMAYR et al. (2017, pp. 197-212), Big Data is a
socio-economic-technical system that is creating knowledge. It refers
to complex and large data in order to stock and process valuable
information.
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Comparing ORTHODOX MARKET
RESECH and BIG GATA
Characteristics Orthodox Market BIG DATA
Research
Sources Survey, Interviews, Is data practically every
Books moment
Cost High Low
Type of user Business user Governments, Facebook,
Google
Type of data Qualitative Quantitative
Schema Fixed/static/ structured Structured/Unstructured
Real-time analytics It took place after the Presented
event was instantaneously
Database Architecture Centralized Distributed
Enables exploratory Users had to determine Is structured in order to
analysis their questions find the answers to the
questions
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3. Explain how information is captured and stored with key references to types of d
and management information systems
PAYPAL
COOKIES
CRM
Grocery POS
RFID
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4.Describe the impact of technological development on the
role and use of data in the business decision making process
within grocery sector
The COVID-19 is a full-stop on companies and made a total transition to the
digital world. This crisis was an experiment and forced businesses to become
more flexible and fast. As a crucial solution and life-savers for many
companies are the BIG DATA.
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Technological Development Role and use of data How it helps in business
decision making
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How The data can be used for short time(daily production and
material used) and long-term purposes.
information Management Information System uses the hardware and
software to assist the organizational operations.
and data are MIS collects data from various resources, analyze it, and
represent it for decision making process
used in day to
operations of
company in
the sector
Tesco analyze the information about customers, finance,
personnel and competitor analysis to make better decisions in
easier and efficient.
Tesco Clubcard, online shop, Tesco app, website browse, direct
contact, customer count and social media.
Asda collect information through customer contact, accounts for
online shop, Website browser, Social media.
Asda else capture data information on Asda app, Scan & go, Tell
Asda, Baby and Toddler club and Customer survey.
6. Set out outline for research into improving data capture and use in
Grocery sector
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Traditional market research is an approach to understanding the needs of
customers and can be an effective tool in personalizing the shopping
experience.
While orthodox market research can embrace data from a primary and
secondary
source that is based on past and present information, big data can forecast
information about customers, sales and pricing.
In this sector, retailers should embrace both methodologies of research as
a powerful tool for capturing the market and increasing the market share.
The top retailers in the UK demonstrate that are being concerned in
gathering
data and how to utilise in order to get understanding of the customers
from feedback, complaints and comments.
Furthermore, considering big data as an evaluative
method in harnessing the information, the retailers should invest in this
kind
of methodology as the future predicts a digital world.
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References
1. Asda ( 2021) Customer Insight. Available at: http//:www.asda.com/privacy Customer insight. October 2021
(Accessed on 29 October2021)
2. Big Data revamps grocery deliveries to benefit merchants, customers. 2014. SMB World Asia (Online).
3. Blythe, J.(2005) Essentials of Marketing, 3rd Edn. Edinburgh Gate: Pearson Education Limited
4. Botelho, B., (2021) Big Data Available at https://searchdatamanagement.techtarget.com/definition/big-data (Accessde
on 29 October2021)
5. Callum, S., (2019) How Marks & Spencers leverages data science to reduce food wastage Available at:
https://www.techerati.com/features-hub/interviews/how-ms-leverages-data-science-to-reduce-food-wastage/
(Accessed on 28 October 2021)
6. Cohen, D., (2021) Revealed: UK’s largest supermarkets throw away enough food for 190 million meals each year
Available at : https://www.independent.co.uk/news/uk/home-news/supermarket-waste-food-poverty-b1807617.html
(Accessed on 28 October 2021)
7. DAS, G., 2014. Big changes in the offing: A comprehensive guide to Big Data - what it means, how it helps and what
not to do with it. Business Today, .
8. Devault, G., 2020. Using Marketing Information Systems (MIS). [Online] Available at:
https://www.thebalancesmb.com/what-is-a-marketing-information-system-mis-2296892#:~:text=An%20M IS
%20can%20be%20used,you%20make%20strategic%20growth%20decisions
9. Drex, C., 2010. Managing Information Systems – an in-depth look at Tesco Plc.. [Online] Available at:
https://www.ivoryresearch.com/samples/managing-information-systems-an-in-depth-look-at-tesco-plc/
10. KATSIKIDES, S., 2020. SOCIETAL IMPACT OF TECHNOLOGY. [Place of publication not identified]:
ROUTLEDGE.
11. Lovemoney Staff (2021) The best UK supermarket loyalty schemes: Tesco, Sainsbury's, Morrisons and more
Available at
https://www.lovemoney.com/guides/55593/uk-supermarket-loyalty-schemes-tesco-sainsburys-asda-iceland-clubcard-
nectar
(Accessed on 27 October 2021)
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12. Luenendonk, M., 2017. Management Information Systems (MIS): Definition and How It Works.
[Online] Available at: https://www.cleverism.com/management-information-systems-mis/
13. LUGMAYR, A., STOCKLEBEN, B., SCHEIB, C. and MAILAPARAMPIL, M.A., 2017. Cognitive big
data: survey and review on big data research and its implications. What is really “new” in big data?
Journal of Knowledge Management, 21(1), pp. 197-212.
14.. Malhotra, M., (2016) [Infographic] What Makes Big Data Analytics so Big? Concept & Tools Available
at
https://www.valuecoders.com/blog/technology-and-apps/what-makes-big-data-analytics-so-big-infograph
ic/
(Accessed on 29 October 2021)
15. RetailEconomics (2021) Top 10 UK Retailers: Food & Grocery. World class providers of data, statistics
and insight for the UK retail industry. Available at:
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16. TechVidvan (2021) How Big Data is transforming the retail industry [Case Study included] Available at:
https://techvidvan.com/tutorials/big-data-retail/ (Accessed on 28 October 2021)
17. Tesco(2021) Tesco data Available at: http//:www.Tesco.com Customer data protection. October 2021.
(Accessed on 29 October 2021)
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