For correspondence:-
Received: April 16 2022 Accepted: June 12 2022 Published: June 30 2022
Citation: Effect of Data Gathering and Analysis on Decision-making among Micro, Small and Medium-Sized Enterprises. Account Tax Rev 2007; 6(2):72-86 doi:
© 2007 The authors.
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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.
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