Original Research Article | OPEN ACCESS
Effect of Data Gathering and Analysis on Decision Making among Micro, Small and Medium-Sized Enterprises

Abraham Ayodele Ojo-Agbodu1 Adeola Khadijat Idowu2 Ajibare Oluyemi Adedayo3

1Department of Accounting, Lagos State University, Ojo, Lagos; 2Department of Accounting, Lagos State University, Ojo, Lagos; 3Department of Accounting, Lagos State University, Ojo, Lagos.

For correspondence:-  Abraham Ojo-Agbodu   Email: ojoagbodu@gmail.com

Received: March 03 2022        Accepted: March 30 2022        Published: March 31 2022

Citation: Ojo-Agbodu AA.Idowu AK.Adedayo AO. Effect of Data Gathering and Analysis on Decision Making among Micro, Small and Medium-Sized Enterprises. Account Tax Rev 2022; 6(1):59-73 doi:

© 2022 The authors.
This is an Open Access article that uses a funding model which does not charge readers or their institutions for access and distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0) and the Budapest Open Access Initiative (http://www.budapestopenaccessinitiative.org/read), which permit unrestricted use, distribution, and reproduction in any medium, provided the original work is properly credited..

Abstract

Data collection is an important process in the management sciences, as it is a very vital step in solving problems and making key decisions. The skills of data gathering, and analyses are equally a prerequisite to arriving at an outcome that will be instrumental to solving the problem at hand. The prevailing concern associated with data collection, preservation and availability in Nigeria was a key driver in embarking on this research. The study examines the effects of data gathering on decision making. The study used an online questionnaire to collate data from 54 selected business owners from a population of 96 businesses at the Badagry central market in Lagos State, Nigeria. Linear regression was used to test the two proposed hypotheses. The study revealed that data collation and analysis using staff (expertise) reports have an insignificant effect on the decision making of a firm. Also, decision making has an insignificant effect on business performance. It was therefore recommended that organizations should train and retrain staff on (end-to-end) data processing and usage skills, while the government is advised to make continuous data generation, preservation and availability a national emergency.

Keywords: Data Collection, Data Analysis, Decision Making, Business Performance, Staff -Skill


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