MG413 Data insights For Business Decisions Assignment Brief

Assignment Task

The UK tech sector employs over 1.7 million people, was valued at $1 trillion (£764bn) for the first time in 2022, and adds over £150bn to the UK economy every year. Companies in the digital economy apply their tech and expertise to solve problems and enhance day-to-day services, providing benefits for consumers across food delivery, health, energy, and many more sectors. The tech industry encompasses several business sectors, like e-commerce, internet software and services, financial technology, consumer electronics, and telecommunications.

In groups of no more than 4 members, prepare a 15-minute presentation on the ‘ Role of data and information within the Technology industry’ – you can choose one or more sectors and organizations to help illustrate your findings.

• What type of data is collected and how is it used by the industry/sectors/organization (s)? Identify if this is Big Data and if this is 1st, 2nd, or 3rd party data.
• Describe traditional market research and how this is different from Big Data and used in the industry / Sectors.
• Explain how information is captured and stored with key references to types of databases and management information systems and find examples from the sector.
• Describe the impact of technological development on the role and use of data in the business decision-making process within this industry/sector.
• Set out how information and data is used within the day-to-day operations of organizations within this sector and what is its strategic importance to the organizations within this industry. Set out a research plan for this industry to improve data capture and its use in a sector/organization.