The moment when your company starts using information that
isn’t correct it can have serious consequences for your company. Everything you
do with the information afterwards is incorrect meaning that the business would
be going heading downhill. If you don’t get one fact right, or give out false
of incorrect information then the company is completely in the wrong direction
which can damage the company.
If the company like Amazon gathers information, but it is the
wrong information and isn’t relevant then, it isn’t useful to the company and
it has potential to wreck the company’s image because of the scale of the
impact it will make. It will be hard to undo the damages made and the amount of
money spent on getting the wrong information then will therefore waste the
company’s time and money. Companies like Amazon would choose to research on the
products they sell, researching in the products that they don’t sell would be
unnecessary and waste of time.
The dangers of using information that is not relevant would
be cause the companies like Amazon to lose customers meaning losing high
volumes of sales. For instance, if Amazon puts Alexa for £30 in their websites
and the customers are charged £50 due to the employee’s mistakes. Amazon would
receive high numbers of complaints and it will put staff in under-pressure not
only that they Amazon would lose lots of its loyal customers. Furthermore, if
the Amazon is selling a laptop and the description of that is nothing to do with
it. I highly doubt that product is going to be profitable to Amazon as the
description does not match the product. As a result, it will confuse the
customers and they may choose not to buy that product which lowers the sales
made by Amazon. As we can see that using information that is not relevant can
lead to loss of profits made by firms.
The quality of the information would have impact in every
sector of the business. The quality of information depends on the way the
information is conducted, handled, the way it is processed, what the
information is about and does it have a good quality description. Furthermore,
if the market research is done by inexperienced staff than it is likely to be
inaccurate due to lack of experience in the field. The quality of information
is vital to the company such as Amazon because Amazon would need to make
decisions based on the information they have gathered. Faulty in the
information can lead to the bad decision which can lead to lose in market
shares and profits.
The dangers of using information that is not good quality,
it can put Amazon to fall back and the competitors would have advantage over
Amazon. Poor data quality can lead to disastrous decisions being made, bad
sales forecasts and lost deals for Amazon. Furthermore, high standard of info
must be provided by sales team as managers or directors need to know which item
is doing well and the items that are getting declined so they can replace that
with another product. Most importantly, if the stock-checker staff gives bad
quality of information to managers and they may order the item they don’t need
and this can be problematic will certainly delay the process of distribution
which can upset the customers and they may end of leaving bad review for
business like Amazon which will give them bad reputation.
Reliability of Data Sources
is the information that the department receives, it should be beneficial and
reliable to that department otherwise, if it isn’t then it is a complete waste
of time. The reliability will also depend on where the information is coming
from as the information from government is verified and is 100% accurate
whereas the information form the Wikipedia isn’t guaranteed as anyone can write
it. If the business like Amazon uses the information from wiki they must verify
that info before using it for any purpose.
The dangers of using information that is not reliable for could
lead them getting banned from advertising and have all your advertising rights
removed. This could result in the company collapsing. Furthermore, using the
unreliable information it can lead to bad customer service which can damage
their reputation which will ultimately affect their sales in long term.
Validity is used to determine whether research measures what
it intended to measure and to approximate the truthfulness of the results.
large companies like Amazon have to ensure that the information is valid and
precise as the bad information could misleading.
The dangers of using
information that is not valid using the wrong information could lead to
damaging their reputation, customers, shareholders etc. Furthermore, it may
distance themselves from the brand due to unprofessional behaviour. Depending
on the type of information there is potential for legal proceedings to be
brought against the company. If the product states that their products are
keepable of flying then, the product must meet the purpose and must do what it
states in the description if it doesn’t customers won’t trust that company,
brand etc., and will never buy the product from there again. Therefore, Amazon
need to monitor what their suppliers put in their description.
Most of the data have time frame which determines how long
it is relevant for, this can be affected by the content of the data. It is
important that businesses such as Amazon to use information that is up to date.
As soon as information is published it is often regarded as out of date because
something in that information will change. If the company is launching a new
product and they haven’t done recent market research and they are relying on
the market research that was done 10 years then, they are bound to make
mistakes as a result their product will be failure. This is because the data
used is old and isn’t up to date as this generation wants and needs different
things than people wanted 10 years ago.
In addition, the dangers of using information that is not up
to date could lead to bad decision making during the process of marketing. We
all know the consequences of inaccurate information being analysed it could
lead to numerous bad for business which affect business in long-term if not in
the short-term. Furthermore, if the Amazon’s sales are suffering and to stay in
the market Amazon posts its old information to convince its investors to stay
with an Amazon. If the investor found about this they may choose to leave and
stop investing in Amazon which can cause the Market to collapse –losing
shareholders, suppliers etc. Amazon can get sued for providing false
information and they might get banned from marketing for certain years which
will affect business.
Cost effective is when the company gets the data in
reasonable about of money and is very effective. It is often said you pay for
what you get, and this can be true in relation to information. If decide to pay
an external company for carrying out some research on your behalf, and another
company is offering to do the same for a quarter of the price, will the
information be good? Companies like Amazon don’t have time and they hire
companies to do questionnaire for them therefore, choosing which company to do
survey may be tuff decisions they might make. Big companies would have trusted
companies that they have been working with the for long time and they know that
they are going to provide accurate data which Amazon can benefit from.
The dangers of using information that is not cost effective
could be misleading and unprofessional. For instance, If Amazon decides to
carry out market research but only carry it out their quieter areas, are they
getting the best quality, up to date, relevant and appropriate data? Where as
if they carry out the market research in busy it might be costly as they might
need more people for them to work, however it may provide better quality of
information. It may be wise for Amazon to pay extra for the information that is
better than sneaking out the bad data to save money.
Accessible information is information that you can
understand. What makes information accessible is different for different
people; there is no one size fits all as people often have different needs.
Amazon cannot use information that they cannot understand, it is no good to them.
For example, if their finance teams produce reports on figures that they are
unsure what they actually mean, that information cannot be used and the company
cannot benefit from, in another words its useless to them.
The dangers of using information that is not accessible can
lead to poor-decision making which increase the chances of them making errors
which is not good when it comes to business and it can damage the company image.
To prevent this from happening Amazon could train their staff to provide them
to with more beneficial information that Amazon can use. If they know how to
analyse the data, they are likely produce the information which company can use
and benefit from.
The choice of appropriate data collection methods should be
based on the research questions, design, sample, and the possible data sources.
The technique used for data collection should gather information that will
allow the research questions to be answered, take into account the
characteristics of the sample, and provide information that is linked to each
intended learning outcome. More appropriate and precise the data is the better
the outcome would be. If the communication between the firm and the customers
is good and there is high chance that business is going to be successful.
The dangers of using information that is not appropriate for
companies like Amazon would be misleading and silly. Anything that Amazon puts
on advertisement or in website should be reasonable. If the ads show something
and the customers are given different item than there will be high numbers of
complaints by customers which will certainly put customers service staff in
pressure and will certainly add stress which isn’t good for any business. If
the Amazon receives bad review they need to act wisely, responsibly and respond
in a way that is simple, short and sweet. Most importantly, they need to ensure
that they don’t upset the customer further which can lead to blame wars which
is bad for the business. Lastly, for improvement Amazon must ensure that they
regularly update their websites and have latest products offering for their
customers this the best way to sustain customers for long-term.