The company includes data on average costs of food (27 percent of sales) and labor (21 percent). A company's UFOC contains other critical information, such as franchise fees and royalty and advertising percentages, that eat into profits.
Define raw: not cooked; being in or nearly in the natural state : not processed or purified; not diluted or blended â raw in a sentence not cooked; being in or nearly in the natural state : not processed or purified; not diluted or blendedâ¦
Data, Information and Knowledge. Raw data describes the facts and figures that a company processes every day. In a retail environment, each sale will be recorded. However, a company will learn little looking at each sale in isolation. Data becomes information after it has been processed to add context, relevance and purpose. Analysis of daily sales will reveal trends and patterns, such as peak shopping days or biggest-selling items. Knowledge is a set of beliefs based on the relationship between pieces of information.