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Business AS AQA

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  1. 1-1-the-nature-and-purpose-of-business as
    3 主题
  2. 1-2-forms-of-business as
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  3. 1-3-the-external-environment as
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  4. 2-1-management-and-leadership as
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  5. 2-2-management-decision-making as
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  6. 2-3-the-role-and-importance-of-stakeholders as
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  7. 3-1-marketing-objectives as
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  8. 3-2-understanding-markets-and-customers as
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  9. 3-3-making-marketing-decisions as
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  10. 3-4-the-marketing-mix as
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  11. 4-1-operational-objectives as
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  12. 4-2-operational-performance as
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  13. 4-3-efficiency-and-productivity as
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  14. 4-4-quality as
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  15. 4-5-inventory-and-supply-chain-management as
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  16. 5-1-financial-objectives as
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  17. 5-2-financial-performance as
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  18. 5-3-sources-of-finance as
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  19. 5-4-cash-flow-and-profit as
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  20. 6-1-human-resource-objectives as
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  21. 6-2-human-resource-performance as
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  22. 6-3-organisational-design as
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  23. 6-4-human-resource-planning as
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  24. 6-5-motivation as
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  25. 6-6-improving-employer-employee-relations as
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Exam code:7131

Interpreting graphs and charts

  • Data contained in graphs and charts can be important sources of marketing research

  • Data may be presented in a range of forms

Bar charts

  • Bar charts show data that are independent of each other, such as sales per store

A bar chart showing US spending on home video entertainment in 2017, with streaming up 32% and DVD and Blu-ray sales down 14%, rent-by-post down 20% and shop rentals down 21%, for a total of a 10% increase since 2016.
A bar chart showing sales revenue for a selection of home video entertainment formats in the USA in 2017

(Source: British Council)

Pie charts 

  • Pie charts show how a whole is divided into different elements, such as total sales divided amongst different product types

 

An example of a pie chart showing Apple's quarterly revenue by category in April 2021: iPad 9%, Mac 10%, services 19%, wearables 9% and iPhone 54%.
A pie chart showing Apple’s quarterly revenue by category in April 2021

(Source: Six Colours)

Scatter graphs

  • Scatter graphs allow businesses to compare two variables, such as sales volume and advertising, to establish if there is any correlation between them

A scatter graph depicting the relationship between the number of sales managers employed and the volume of sales, with data points marked as red crosses.
A scatter graph showing the number of sales managers employed by a business and the volume of items sold

Infographics 

  • Infographics are easy-to-understand visual representations of data

An example of an infographic used by Mars to present key business statistics.
An infographic used by Mars to communicate key business statistics

Correlation

  • A correlation exists where there is a relationship or connection between two variables 

    • A positive correlation means that as one variable increases, so does the other variable

      • A line of best fit that slopes upwards can be identified 

    • A negative correlation means that as one variable increases, the other variable decreases

      • A line of best fit that slopes downwards can be identified 

    • No correlation means that there is no connection between the two variables

      • It is not possible to identify a line of best fit

Diagrams of correlation types

Three graphs showing positive, negative and no correlation between variables A and B, with data points and trend lines labelled accordingly.
The main types of correlation between two variables: positive, negative and no correlation

  • Correlation does not always indicate a relationship or causation between two sets of variables

    • Businesses must conduct research to determine whether a relationship exists and the strength of that relationship

Examiner Tips and Tricks

When you forecast sales, use historic data to spot the trend, then project it forward — that’s extrapolation

Don’t confuse this with correlation, which only shows a link between two variables

Extrapolation

  • Extrapolation is the assumption that what has happened in the past will be the same as what will happen in the future

  • Where a line of best fit can be identified and when causation is determined, a business can extrapolate data to make predictions around changes to either of the variables

    • E.g. extrapolation of the line of best fit in the example below means that the business could predict that employing seven sales managers would likely result in sales of 46 units

Extrapolation using a line of best fit

The graph shows a linear relationship between the number of sales managers and the volume of sales, with data points plotted and a trend line.
A scatter graph with a line of best fit showing the number of sales managers employed by a business and the volume of items sold

Examiner Tips and Tricks

When drawing a line of best fit, you should try to include as many data points above the line as below the line

Watch out for outlying data — if there is more than one outlier above the line, adjust your line of best fit upwards

Similarly, if there is more than one outl

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