BSc Accounting and Finance Business Data Analysis Assignment Sample 2023
Introduction
Concerning the provided case study, it is ascertained that Pedro’s restaurant is looking forward to increasing the feasibility of its business. Moreover, it is opined that the firm operates in the hospitality industry and therefore it wants to identify the hidden value in its financial data.
The purpose of analyzing and identifying the hidden data is to respond to the enhanced competition in the business market. Based on the requirements in the further content the necessary description with respect to the stakeholder analysis has been done. Apart from that decision-making process, the decision matrix is implemented to develop an online presence in the business market. On the other hand, decision analysis concerning the restaurant’s capacity has also been illustrated along with the effectiveness of the advertisement strategy.
Task 1. Stakeholder Analysis
The Pedro restaurant is well recognized by all the locals of the community for its menu which has been based on the source of local procedures from nearby farmers and also Rugby internal part related to the small business association. As association members, Pedro’s restaurant has been recognized for working closely with the local primary school on the programmed “Little Chef” teaching kids to cook (Muangprathub et al. 2019, p.45).
The company’s stakeholders need to analyze the current position of the company and enhance the business by doing online work and also by spending money on advertisements. The list of stakeholders potentially related to the project such as customers, the local community, the government, and also “The Rugby small business association”.
The company can get better benefits and also achieve a better place in the competitive market. It assists the organization and also stakeholders to enhance the consumer reach, building the awareness of customers related to the brand and business, promoting the products and services benefits, communicating information related to the business, and enhancing the demand and also sales.
| Monitor
● Maximizing the restaurant sales by doing advertisements, and online presence ● Using the techniques of data drive analysis |
Actively engaged
● “The Rugby small business association” ● Local primary school on a program of little chief |
| Keep informed
● Enhance its business online presence ● Increase the level of advertisement |
Keep satisfied
● Customers ● Suppliers |
Table 1: Mende low’s matrix Stakeholders analysis
(Source: self-developed)
The stakeholder matrix of Mende low is also well known for the analysis of the stakeholder’s matrix and also the matrix of power interest. It is the general simple structure to assist in the way of managing the restaurant stakeholders. The company needs to do advertisements and also an online presence on the website of social media (Kumar, 2018, p.45).
The main benefits for the organization are that the company can engage with more consumers, reach more people than ever and spend more time every time, and also enhance its credibility. Therefore, the company needs to manage the monitor part of the matrix so with the assistance of that the company can be able to manage its short and long-term vision. It is important to make a better priority to the stakeholders and customers and also make better decisions for managing better communication for satisfaction.
The Pedro restaurant needs to aim at the Monitor as mentioned in Table 1. Thus, with the effect of that, the company will do as per the basis of achieving the goals. However, it is required to keep their stakeholders satisfied with their work and also make a better place in the way of performing the stakeholder’s analysis.
Therefore, by doing better advertisement and also online presence, the Pedro restaurant can be able to increase its business in various fields (Vicario and Coleman, 2020, p.15). It will not give any effect or impact on the stakeholders, so the company needs to maintain its position by giving preference to its stakeholders.
Task 2. Decision-Making: Developing an Online Presence
The restaurant needed to run as a “brick-and-mortar” business for decades with no presence online. This has various ways which are partly related to the restaurant appeal and has kept with the roots of the local community-based. It can be recommended that the company may need to develop their business in its online presence. Therefore, with the effect of that, they may be able to make better cooperation with the various customers.
The online or digital presence is much easier for the consumer to easily determine the needs and willingness to purchase (GS et al. 2019, p.115). The consumer will be turned to the internet at the time of searching for the product of the organization. It is also required for the digital presence of the company to bridge the customer gap. The online presence plays a major role in the way of increasing the business goals far beyond setting up the website, the company’s name and also contact details (Roberts and Laramee, 2018, p.25).
Along with that, it has been taken with the virtual point related to the business at the time of people being able to determine the useful information for the website and also contact with the restaurant by the way of “Social media network”.
The restaurant has thought about the following ranges related to the alternatives for proceeding online first:
| Ideas | Impact | Effort | Profitability |
| Website | High | Medium | High |
| Social media | High | Medium | High |
| Mobile application | Medium | High | Medium |
| Mailing list | Medium | High | Medium |
Table 2: Decision matrix
(Source: self-developed)
Website: The online presence is strong that mainly permits the brand and also achieves the credibility that may be needed at the time to attract more consumers. Moreover, it has made the business more readily accessible to the online presence and that also provided the customer. It is an easy way to determine more related to the offer.
(Du et al. 2019, p.145) It can be recommended to Pedro need to manage its essential things and major products on the front page of the website so that customers can able to look at the best food of the restaurant organization. Thus, with the effect of that, they can capable to book it online and also share them with their friends and also family.
Social media: It is the best opportunity for the restaurant to enhance its business by showing an online presence. As per the view of Kuz’minaet al. (2020, p.55), social media speeds up the visibility to the potential of consumers and also clients who may be able to pay attention to the business’s products. However, having a presence on social media, let the people or stakeholders known to reach wider in an inexpensive and also speedway.
Therefore, with the effect of that, it has been generated with the tailored control with target budget needs and also interest. Thus, it has proceeded with building trust and also steps closer to earning the business of audiences. The restaurant has been recognized by the available local community but with the help of social media, it assists to make more cooperation with other customers (Jin and Kim, 2018, p.37).
Therefore, maintaining a social media presence permits the customers to make better understand the customer needs. The young generation has consumed social media at a higher time. Thus, they will get food product details or images on their homepage so which will attract them to social media.
Mobile application: It has permitted the users to have better functional access to information, services, process, and also products. They would be demanded in real-time and also enables the business to send the changes and notification in the way of products and services or also something new. Therefore, with the effect of that, it has been shown even without the internet, the apps have performed simple functions.
It can be recommended that the restaurant may aim to assess the mobile application which permits the users to have easy, and also functional access to the products, information, and process.
Along with that, it has been required in real-time which has optimized for the interaction of hands. Therefore, the effect of that, the mobile application may also improve the services of customers, apart from enhancing the sales of products and also the business visibility (Muangprathubet al. 2019, p.115).
The app mainly makes sure the same product presentation and also the services in all over the time users access it. The consumer can go by the way of interface, no matter which they access the page.
Mailing list: Building email is pivotal due to the best way to generate better cooperation with consumer potential in the inbox. The restaurant can able to get feedback on their food or products by sending mail to their customers. It directs sales, testing new groups, and also products.
Task 3. Decision Analysis: Restaurant Capacity
Revenue
| Capacity/Demand | Demand 1 | Demand 3 | Demand 5 | Demand 7 |
| Capacity=2 | 50 | 55 | 51 | 52 |
| Capacity=4 | 51 | 53 | 52 | 55 |
| Capacity=6 | 52 | 54 | 53 | 57 |
| Capacity=8 | 57 | 55 | 56 | 57 |
Table 3: Determine the sales value
(Source: Self-developed)
As per the above-given table, there has been mentioned the value of revenue is based on forecasting. Along with that, there has been determined the value of sales by assumptions. Therefore, the company needs to follow the assumptions so that they can able to make a better profit as per the basis of the sales assumptions made.
Cost associated
| Capacity/Demand | Demand 1 | Demand 3 | Demand 5 | Demand 7 |
| Capacity=2 | 12 | 14 | 18 | 19 |
| Capacity=4 | 14 | 15 | 15 | 17 |
| Capacity=6 | 16 | 14 | 16 | 18 |
| Capacity=8 | 17 | 15 | 18 | 19 |
Table 4: Determine the cost associated
(Source: Self-developed)
The cost associated has been made as per the basis of expenses subtracted by the sales then the value of costs associated has been shown in above table 4. Capacity 8’s costs have been shown much higher as compared to the other mentioned capacities such as capacities 2, 4, and 6.
Profit obtained
| Capacity/Demand | Demand 1 | Demand 3 | Demand 5 | Demand 7 |
| Capacity=2 | 14 | 17 | 15 | 19 |
| Capacity=4 | 18 | 19 | 18 | 22 |
| Capacity=6 | 20 | 24 | 20 | 24 |
| Capacity=8 | 21 | 24 | 22 | 25 |
Table 5: Determine profit
(Source: Self-developed)
There has been determined the value of profits as per the basis of the above-given table 5. The value of profit has shown in a better positive manner which means the restaurant can able to achieve a better place by earning profits. Therefore, the effect of that profit assists the business in the way of expanding the business and also assists in the way of making better decisions. Thus, with the help of that, the restaurant can expand its business in new markets.
Expected profit
| Capacity/Demand | Capacity=2 | Capacity=4 | Capacity=6 | Capacity=8 |
| Expected/profit | 30 | 33 | 39 | 35 |
Table 6: Determine the expected profit
(Source: Self-developed)
As there has been given an expected profit as per the basis of each capacity such as 2, 4, 6, and 8. The expected profit is given as the basis of each capacity can earn as per the basis of each capacity’s demand such as 30, 33, 39, and 35. It is the main profitability related to the profit received multiplied by the profit and also paying off the expected costs which have shown profitability that certain costs will have happened with the costs.
Figure 1: Profit obtained
(Source: self-developed)
As per the basis of the above figure, there has been mentioned the profit obtained value as per the basis of each category earned. However, it can be seen that Demand 7’s profit is much higher as compared to the rest of the demands. Thus, it happens because each category’s demand value has mentioned lower as compared to the mentioned demand value.
It can be recommended that Pedro may choose the demand 7’s capacity, and needs to be aware to choose the demand 1’s capacity. Therefore, because it may decrease the performance of the restaurants so it is essential to choose the demand 7. Thus, the effect that it assists the restaurants to make a better place in the field of organization and also able to earn profit higher as compared to the rest of the mentioned demand categories.
Moreover, Pedro needs to maintain the profit strategies which is the only aim related to the organization at the time of maintaining the profit by cook or hook (Kalogiannidis, 2021, p.15). It is generally kind related to the strategy of the corporate level whereas profit creation obtained a place in the forced strategies by the way of the company’s management. However, the restaurant needs to choose demand 7’s categories for generating profit because this strategy is one of the majors capitalizes on the situation which shows old and also obsoletes technology and products.
It has been replaced with the new one which is the kind related to the strategies that do not need to make a new investment. The company needs to analyses its profit value by examining the budget and also the demand value of each category. The decision has been made based on analyzing each category of demand.
Task 4: Advertising Effectiveness
Concerning the provided case study, it is advocated that since its establishment the firm has been working with the Rugby Express newspaper. Moreover, the case study states that due to the increasing competition in the business market the firm is looking forward to changing its advertising technique. As per the acquired pieces of knowledge, it is ascertained that in business advertising plays a significant and crucial role.
Therefore, it can be said that to earn higher profit and to make the business operation or the restaurant profitable it is essential to develop an advertising strategy. Advertising strategy is further determined as the sum total of the outreach efforts of the firm that the firm initiates to build brand awareness and enhance its revenue margin (Van et al. 2021).
According to the provided case study, it is further ordained that the firm might opt for two different forms of advertising process to make the strategy effective. Since its establishment it opted to give an advertisement regarding its restaurant in the newspaper named Rugby Express.
Moreover, for the past three years, the firm is further looking to explore the tv advertising medium to increase awareness regarding its restaurant in front of the customers. Advertising is further identified as the medium through which the firm can easily introduce its products and services in the domestic region as well as outside the territorial region.
Computation and illustration of descriptive statistics
Based on the computation it is ordained that the mean value of the data set is identified to be 2557.5. Therefore, it can be said that the central tendency of the data set is calculated to be 2557.5 whereas, the value of median and mode is calculated to be 2395 and 2200 respectively.
The calculated result further indicates that the value of spread that is standard deviation is identified to be 679.4667026. As compared to the mean value and standard deviation the value of standard deviation is low which further indicates that the data is clustered around the mean. [Refer to appendix 1]
Evaluation of histogram and interpretation
Figure 2: Histogram analysis
(Source: Self-developed)
According to the provided image histogram is developed and the reason behind the development is to recognize the distribution of the data set. Moreover, through the extracted histogram the central tendency, variability and shape of the data set can be identified easily.
The image further signifies that the histogram is of a bell curve shape which further indicates that the frequencies are equally distributed [Refer to appendix 2]. Histogram analysis is further done to measure the distribution of continuous data (Salem et al. 2019).
Illustration in context to best investigates evidence to identify the relationship between:
- a) Amount spent on newspaper advertising and a number of new applications
According to the evaluated data set and the opined description, it is perceived that the relationship between newspaper advertising and the number of new applications can be determined by evaluating whether adopting such an advertising strategy has increased the number of customers or not. Moreover, the data set indicates that the number of customers of Pedro restaurant has enhanced to a great extent. The descriptive analysis further indicates that by spending large expenses on newspaper advertisements the number of customers increased at some instances.
- b) Amount spent on online advertising and number of new applications
Online advertising strategy is adopted by the firm due to the increasing population in Rugby Express. Moreover, the data set and the descriptive analysis indicated that after adopting the online advertising method the number of customers enhanced more. Therefore, it can be said that the advertising expenses and new customers are interrelated as if the expenses increase the range of customers also increases.
Explanation of the regression analysis
The regression analysis indicates the relationship between the advertising expense and the number of new customers. The coefficient value of regression is further identified to be positive that further indicating a positive relationship between the dependent and interdependent variables. The multiple square values are further identified to be good as the value is 0.9 approximately. [refer to appendix 3]
Discussion regarding the interpreted p-values
P-value is further identified to be less than the significance level further indicating that the alternative hypothesis will be accepted. The alternative hypothesis states that the number of customers depends upon advertising expenses. [refer to appendix 3]
Calculation of the expenses paid by Pedro to attract 50 new customers
According to the calculation of the advertising, if expenses would increase by £800.00 then the number of customers would increase by 50. [refer to appendix 4]
Comment on any hesitations concerning the estimation of expenses Pedro to attract 50 new customers.
Based on the evaluation it is identified that due to the increasing expenses the number of customers would also increase. Therefore, it can be said that by adopting the advertising technique and by implementing the strategy Pedro restaurant can easily attain high growth. The only hesitation that has been identified is the increasing expenses.
Conclusion
Concerning the provided description, it is identified that Pedro’s restaurant should go online by developing its brand identity on social media and creating a website for its business. Apart from that the restaurant can also utilize attractive visuals and customize its social media accounts by creating meaningful and attractive content. Moreover, the firm can also make its business online by optimizing its website.
According to the further illustration it is articulated that the firm must opt for wider expansion to attain higher growth. On the other hand, as per the analysis of the advertising effectiveness, it is opined that the firm must create a great emphasis on online advertising to enhance the growth of the company.
References
Du, X., Liu, B. and Zhang, J., 2019, November. Application of business intelligence based on big data in e-commerce data analysis. In Journal of Physics: Conference Series (Vol. 1395, No. 1, p. 012011). IOP Publishing.
GS, A., Kurniasih, N., Reni, A., Istanti, E., Zuhroh, D. and Qomariah, N., 2019. The effect of business sphere on competitive advantage and business performance of SMEs. Management Science Letters, 9(8), pp.1153-1160.
Jin, D.H. and Kim, H.J., 2018. Integrated understanding of big data, big data analysis, and business intelligence: A case study of logistics. Sustainability, 10(10), p.3778.
Kalogiannidis, S., 2021. Business Trust and Communication as Predictors of Business Growth. WSEAS Transactions on Business and Economics, 18, pp.1512-1522.
Kumar, S., 2018. Understanding different issues of unit of analysis in a business research. Journal of General Management Research, 5(2), pp.70-82.
Kuz’mina, E.V., P’yankova, N.G., Tret’yakova, N.Y.V. and Botsoeva, A.V., 2020. Using Data Analysis Methodology to Foster Professional Competencies in Business Informaticians. European Journal of Contemporary Education, 9(1), pp.54-66.
Muangprathub, J., Boonnam, N., Kajornkasirat, S., Lekbangpong, N., Wanichsombat, A. and Nillaor, P., 2019. IoT and agriculture data analysis for smart farm. Computers and electronics in agriculture, 156, pp.467-474.
Roberts, R.C. and Laramee, R.S., 2018. Visualising business data: A survey. Information, 9(11), p.285.
Salem, N., Malik, H. and Shams, A., 2019. Medical image enhancement based on histogram algorithms. Procedia Computer Science, 163, pp.300-311.
Van Tien, N., Tien, N.H., Kuc, B.R., Dana, L.P., Hiep, P.M. and Ha, V.X., 2021. Solutions to Enhance Corporate Sales Performance in Vietnam. Turkish Journal of Computer and Mathematics Education (TURCOMAT), 12(14), pp.5014-5023.
Vicario, G. and Coleman, S., 2020. A review of data science in business and industry and a future view. Applied Stochastic Models in Business and Industry, 36(1), pp.6-18.
Appendix
Appendix 1: Descriptive analysis
| Column1 | Column2 | Column3 | Column4 | ||||
| Mean | 18.5 | Mean | 981.3611 | Mean | 1452.639 | Mean | 27.25 |
| Standard Error | 1.755942292 | Standard Error | 54.32558 | Standard Error | 90.80949 | Standard Error | 1.672549 |
| Median | 18.5 | Median | 943 | Median | 1425 | Median | 28 |
| Mode | #N/A | Mode | #N/A | Mode | 1050 | Mode | 16 |
| Standard Deviation | 10.53565375 | Standard Deviation | 325.9535 | Standard Deviation | 544.8569 | Standard Deviation | 10.03529 |
| Sample Variance | 111 | Sample Variance | 106245.7 | Sample Variance | 296869.1 | Sample Variance | 100.7071 |
| Kurtosis | -1.2 | Kurtosis | -0.59799 | Kurtosis | -0.89057 | Kurtosis | -0.81458 |
| Skewness | 0 | Skewness | 0.357568 | Skewness | 0.012036 | Skewness | 0.062289 |
| Range | 35 | Range | 1276 | Range | 1919 | Range | 40 |
| Minimum | 1 | Minimum | 409 | Minimum | 451 | Minimum | 8 |
| Maximum | 36 | Maximum | 1685 | Maximum | 2370 | Maximum | 48 |
| Sum | 666 | Sum | 35329 | Sum | 52295 | Sum | 981 |
| Count | 36 | Count | 36 | Count | 36 | Count | 36 |
| Confidence Level(95.0%) | 3.564752369 | Confidence Level(95.0%) | 110.2868 | Confidence Level(95.0%) | 184.3531 | Confidence Level(95.0%) | 3.395455 |
Appendix 2: Histogram analysis
| Bin | Frequency |
| 8 | 1 |
| 14.66666667 | 2 |
| 21.33333333 | 8 |
| 28 | 11 |
| 34.66666667 | 5 |
| 41.33333333 | 6 |
| More | 3 |
Appendix 3: Regression analysis
a
| SUMMARY OUTPUT | ||||||||
| Regression Statistics | ||||||||
| Multiple R | 0.963073 | |||||||
| R Square | 0.92751 | |||||||
| Adjusted R Square | 0.925378 | |||||||
| Standard Error | 89.04091 | |||||||
| Observations | 36 | |||||||
| ANOVA | ||||||||
| df | SS | MS | F | Significance F | ||||
| Regression | 1 | 3449036.656 | 3449037 | 435.0294127 | 5.93E-21 | |||
| Residual | 34 | 269561.65 | 7928.284 | |||||
| Total | 35 | 3718598.306 | ||||||
| Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | Lower 95.0% | Upper 95.0% | |
| Intercept | 128.9458 | 43.47975789 | 2.965651 | 0.005491082 | 40.58428 | 217.3073 | 40.58428 | 217.3073 |
| X Variable 1 | 31.2813 | 1.499772669 | 20.85736 | 5.93131E-21 | 28.23339 | 34.3292 | 28.23339 | 34.3292 |
b
| SUMMARY OUTPUT | ||||||||
| Regression Statistics | ||||||||
| Multiple R | 0.606758776 | |||||||
| R Square | 0.368156212 | |||||||
| Adjusted R Square | 0.349572571 | |||||||
| Standard Error | 439.4221227 | |||||||
| Observations | 36 | |||||||
| ANOVA | ||||||||
| df | SS | MS | F | Significance F | ||||
| Regression | 1 | 3825297.042 | 3825297.042 | 19.81076879 | 8.74E-05 | |||
| Residual | 34 | 6565121.264 | 193091.8019 | |||||
| Total | 35 | 10390418.31 | ||||||
| Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | Lower 95.0% | Upper 95.0% | |
| Intercept | 554.9312323 | 214.5751577 | 2.586185831 | 0.014160756 | 118.862 | 991.0004183 | 118.8620463 | 991.0004183 |
| X Variable 1 | 32.94340024 | 7.401466163 | 4.45092898 | 8.74148E-05 | 17.90181 | 47.98498921 | 17.90181127 | 47.98498921 |
| RESIDUAL OUTPUT | ||||||||
| Observation | Predicted Y | Residuals | ||||||
| 1 | 1345.572838 | -289.5728381 | ||||||
| 2 | 1082.025636 | -87.02563618 | ||||||
| 3 | 1312.629438 | 307.3705621 | ||||||
| 4 | 1872.667242 | 497.332758 | ||||||
| 5 | 1609.12004 | 223.87996 | ||||||
| 6 | 1082.025636 | -212.0256362 | ||||||
| 7 | 1740.893641 | 624.106359 | ||||||
| 8 | 1609.12004 | -559.12004 | ||||||
| 9 | 1477.346439 | 515.6535609 | ||||||
| 10 | 1082.025636 | 690.9743638 | ||||||
| 11 | 1477.346439 | 94.65356093 | ||||||
| 12 | 1147.912437 | -427.9124367 | ||||||
| 13 | 1609.12004 | -31.12004003 | ||||||
| 14 | 1213.799237 | 139.2007629 | ||||||
| 15 | 1872.667242 | -159.667242 | ||||||
| 16 | 1938.554042 | -498.5540424 | ||||||
| 17 | 950.2520352 | -131.2520352 | ||||||
| 18 | 1477.346439 | 518.6535609 | ||||||
| 19 | 1477.346439 | -67.34643907 | ||||||
| 20 | 1180.855837 | -70.8558369 | ||||||
| 21 | 1839.723842 | -774.7238417 | ||||||
| 22 | 1675.006841 | 264.9931595 | ||||||
| 23 | 1872.667242 | -702.667242 | ||||||
| 24 | 2136.214444 | 182.7855561 | ||||||
| 25 | 1082.025636 | -572.0256362 | ||||||
| 26 | 1938.554042 | 268.4459576 | ||||||
| 27 | 950.2520352 | 99.74796479 | ||||||
| 28 | 1411.459639 | 808.5403614 | ||||||
| 29 | 1642.06344 | 428.9365597 | ||||||
| 30 | 1345.572838 | -775.5728381 | ||||||
| 31 | 1345.572838 | -49.57283811 | ||||||
| 32 | 1378.516238 | 391.4837617 | ||||||
| 33 | 1477.346439 | -307.3464391 | ||||||
| 34 | 818.4784342 | -367.4784342 | ||||||
| 35 | 1082.025636 | 447.9743638 | ||||||
| 36 | 1740.893641 | -420.893641 | ||||||
Appendix 4: Amount of expenses
| expenses paid by Pedro to attract new customers | |
| expenes | £ 1,250.00 |
| total number of customers | 20000 |
| amount of expense in TV advertisment to attract 50 new customers | £ 800.00 |
