Information management system as a panacea for business decision-making and strategy development in Katsina Central Market

Information management system (IMS) is regarded as the process of collecting, storing, and disseminating information to support decision making and strategy development. An effective IMS enables businesses to identify opportunities, threats, and trends, making informed decisions and developing effective strategies. Therefore, in the context of Katsina Central Market, IMS is crucial for businesses to understand customer needs, track sales and revenue, and monitor inventory and supply chain. This study examines the role of IMS in business decision making and strategy development in Katsina Central Market. The study adopts a mixed-methods approach, combining both qualitative and quantitative data collection and analysis methods. The research population consists of businesses operating in Market. A sample of 20 businesses is selected using a stratified sampling technique. Four business owners were selected from each business selected (4 x20 =80). Data was collected through four-point scale (Likert) scale questionnaires and interview. The data is analyzed using descriptive statistic (simple percentage) and thematic analysis. The findings from the study revealed that an effective IMS is crucial for an effective strategies and decisions making. The majority of businesses agree that IMS is essential for understanding customer needs and preferences. However, only a few businesses have implemented IMS in their business, and most of the businesses were reported to rely on manual methods for data collection and analysis. The study recommends the Implementation of IMS, Regular market research and analysis, Data analytics training for businesses, Establishment of a market information center and Collaboration between businesses and market associations to share information and best practices.