Report On Cookie Limited: Data Collection, Storage, And Business Continuity

Data Collection and Storage

Write a report on the Cookie Limited.
 

The Cookie Limited Company produces cookies and other bakery products and has only one store in the present city. The business owners of cookie Limited are looking forward to upgrading their business, and they are inspired by the online business after they have seen from some years businesses are doing well over the internet. They have decided that they want to open an online store for their customer to reach the client’s quickly and more efficiently to increase the sales. Other than this there is one more reason that they want to keep a proper track to their accounts as they are not as happy with the existing account books as they are unable to keep a good track on their records.

1.1 Data collection system

The DCS (Data collection system) refers to a system that evaluates and aggregates a group of data or information in an efficient and consistent way. Most of the modern information collection system depends on latest technology to take a large amount of information or data and to analyze it in a correct way. It can be established in many various ways across various industries and fields (Zikmund et al. 2013).  The data collection system is required to get the right data which is necessary for any business or industry for making right business decisions, maintain the integrity of the survey and to making sure of quality assurance. For an example for any retail sales, the information or data might be gathered from different mobile applications and websites, online surveys and any other kind of loyalty programs (Punch 2013). There are two types of data, and they are Quantitative and Qualitative, where one is related to the quantity and other related with quality.

1. Qualitative Data: It refers to the information or data that is related to quality and which cannot be measured. Examples such data are the quality of the cookie, the taste, color of the cookie, etc. 
2. Quantitative Data: This kind of data refers to the data that is related to quantity, and this kind of data can be measured, and it is noted down with numbers. For examples, they are related to size, length, etc.

For any business or company who are looking to establish themselves for selling products online has to ensure that they are collecting the have a right data collection system and correct data (Bryman and Bell 2015). Other than that the other aspects of DCS (Data collection systems) depend on the architecture and hardware that is used. 

The most vital decision for any online business is to have the right storage system. For any business collecting data or information needs proper management so that they can utilize that information for improving their service and product quality. The right data will help them to take the right decision which is very vital for the company (Melody and Mooney 2013). As the company has to have two kinds of data or information one related with quantity and other is quality, so its need two different storage spaces to collect data respectively. The most recommended storage system is Cloud based because it’s faster and economical. Various service providers are providing the best cloud storage system (Chen et al. 2014). It is the best when we compare it with the local storage system which needs the huge amount of space and money to establish and moreover it needs lots of maintenance. The primary concern for any business is their data storage and its protection. The cloud based will provide better advantages to Cookie Limited it has improved availability and data or information protection, and moreover, it’s easy to set up the online storage system (Lin and Tzeng 2012). It’s relatively user-friendly when any users are using cloud based systems when we compare it with any local storage system. The system can be remotely accessed from any location on this globe, and it protects the company from data loss as it has disaster recovery and data backup abilities. 

Data in Action

2.1 Consumer-centric product design

The customer-centric product design refers to customer or client value based needs and requirements. The customer-centric product is meant to select by which the client’s or customer’s needs are satisfied which will increase the revenue in sales. The main objective of consumer-centric product design is to create a positive customer experience at the point of selling and after selling the product. This approach will add value to the Cookie business by enabling it to vary their business from their competitors who do not provide or offer the same kind of experience (Bogers et al. 2016). The customer centric cannot be obtained by offering a better customer service. It has to provide a better experience to their customers or clients from the stage of awareness through the purchasing process and at the end of the post-purchase stage. When we put our customers at the core of our business, then the best part is that we can collect some wealthy information or data with the help of third party software such as CRM, which will help the company to improve the customer experience. For example, we can use the customer data to understand the customers buying behavior, engagement, and interests. We can also locate or identify opportunities to produce products for our best customers (Alexander 2013). The Cookie Limited can meet the key points as mentioned above by just implementing a third party application that will help get the right kind of data or information and they can evaluate their product performance they have sold. It will give them an idea of how their product is doing in the market and what are the changes they need to make on that product to increase their sales.

Two vital consumer-centric measurements required proper attention and evaluation, and they are Churn rates and Customer lifetime value. Most of the organization or business has understood that they cannot treat all the customers or clients the same. The primary objective of this kind of approach is to identify their potential customers and investing in them will increase the loyalty towards their best customers and will enhance their profits. But identifying their best customers is always difficult, and it becomes vital to sustaining a viable business.

Customer Lifetime Value – The main purpose of this metric is to calculate the economic value of every single client. It general refers to the total amount of revenue that has been generated by a single customer over time from all the buying or purchasing of the Cookie limited products, discounted by the time value of cost (Chang et al. 2012). The most important aspect of any business is clients and without it, there is no company or organization that can stand and run. It is vital concept that it encourages companies to shift their concentration from the quarterly profits to a long term health of their relationship with their customers.  It is also critical because it represents a higher range on spending to attract new clients.

Business Continuity

Churn Rates – It calculates the number of components or individuals is moving out of a group for a period of time limit. One of the major factors of it is to determine the stable level of clients and organization or business will support (Verbraken et al. 2013). When it is applied to a consumer base, it refers to the measure out of temporary users or subscribers who left a supplier during a period of time limit. It displays customer’s dissatisfaction, better and small offers of the competitors and more successful promoting and sales by the competitors or reasons related to consumer lifecycle.

Doing online business is sometimes a risk because there are various threats which can affect the business, and they are mostly from power related issues and natural disaster or threats related to virus or malware. As suggested earlier in this report presentation that it is always better to have a cloud based storage system which has a number of advantages can definitely help the company survive in case of power failure or other disasters (Cook 2015). The answer is always yes because today technology has lifted the online business to the next level. With the presence of cloud based technology companies are mostly relying on them because they are user-friendly and provides a number of cost effective methods that save lots of time for buying and installing heavy software’s and save money from buying huge spaces for installing the servers etc. They have backup and disaster recovery software’s which help the company to recover their data in no time at all. The disaster recovery plan makes sure that the business survival and continuity (Snedaker 2013). Moreover the power outage is a critical concern, its works completely virtual, and it can be operate remotely from any location in this world. So by using the cloud based technology it has been observed that the business continuity will not be an issue at all. 

Conclusion

The report presented discusses the various aspects of data system and its storage system. The concept or customer centric product has been discussed in this report with its advantages and recommended systems to measure it.  Moreover, it has also been explained that is the right things to needs to be considered by Cookie limited to establish themselves online. 

References

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Bogers, M., Hadar, R. and Bilberg, A., 2016. Additive manufacturing for consumer-centric business models: Implications for supply chains in consumer goods manufacturing. Technological Forecasting and Social Change, 102, pp.225-239.

Bryman, A. and Bell, E., 2015. Business research methods. Oxford University Press, USA.

Chang, W., Chang, C. and Li, Q., 2012. Customer lifetime value: A review. Social Behavior and Personality: an international journal, 40(7), pp.1057-1064.

Chen, H.C., Hu, Y., Lee, P.P. and Tang, Y., 2014. NCCloud: a network-coding-based storage system in a cloud-of-clouds. IEEE Transactions on Computers, 63(1), pp.31-44.

Cook, J., 2015. A six-stage business continuity and disaster recovery planning cycle. SAM Advanced Management Journal, 80(3), p.23.

Lin, H.Y. and Tzeng, W.G., 2012. A secure erasure code-based cloud storage system with secure data forwarding. IEEE transactions on parallel and distributed systems, 23(6), pp.995-1003.

Melody, E. and Mooney, R., International Business Machines Corporation, 2013. System and method for assigning data to columnar storage in an online transactional system. U.S. Patent Application 13/743,663.

Punch, K.F., 2013. Introduction to social research: Quantitative and qualitative approaches. Sage.

Snedaker, S., 2013. Business continuity and disaster recovery planning for IT professionals. Newnes.

Verbraken, T., Verbeke, W. and Baesens, B., 2013. A novel profit maximizing metric for measuring classification performance of customer churn prediction models. IEEE Transactions on Knowledge and Data Engineering, 25(5), pp.961-973.

Zikmund, W.G., Babin, B.J., Carr, J.C. and Griffin, M., 2013. Business research methods. Cengage Learning.