Context – key changes and trends and how data analytics can add value
Changes and trends in business help in developing performance and quality within business decision making processes. Through effective changes in business operations can guide employees to understand their roles to execute all operations in a structured way. The senior authority of WFTT can make suitable decisions in performing changes within their business to enhance marketing operations by controlling all services. Through effective changes, employees can modify their skills and abilities to cope up with those changes to perform their operational movements within this company. As influenced by Yang and Gabrielsson (2017), the decision making process also guides the senior authority of this company to understand the current situation and modify the structure of their performance to meet all expectations and requirements. Through modification and required changes, performance agility and business operational movements can also be controlled while executing Bangles’ data in terms of marketing environment. It can be beneficial for this company by executing specific changes to improve their business performance.
The line manager of WFTT has made changes in their selection or recruitment process to improve their performance by recruiting non-experienced employees. It can lead these employees to gain knowledge from practices of external marketing operations. This management of WFTT can also change their existing data analytical processes to improve their data management activities. As proposed by Silvander et al. (2017), it can assist employees to organise data management processes by controlling all operational and marketing movements without any issues. On the other hand, changes in business infrastructure can also develop the process of developing a competitive environment by controlling all expectations without any issues. Modification in training can help new employees to gather specific knowledge and skills due to which they can easily perform their data collection and data management activities without any issues. Changes in data managerial operations can also develop the way of controlling data processing management that can allow in controlling the structure of collected Bangles’ data.
Data analytics can help in developing the position of data management processes and employees can make their individual choices to maintain data quality management. Through the usage of effective data analytical methods, employees and the supervisor of WFTT can easily arrange a reliable and flexible format of data. Therefore, new employees can take guidance from the format and gather specific data as per requirements from the Bangles’ dataset. Using a summative form of data, new employees can easily handle all kinds of information depending on their expectations for making benefits for WFTT.
Planned approach for analytics
The significance of the planned approach assists in implementing a reliable and flexible organisational structure for enhancing performance agility for employees within a business. Planned approaches can also guide the higher authority to make effective decision making processes to improve their existing service operations as per requirements. Planned approach depended on four factors of a business that include business position, changing environment, customer expectations and marketing environment. In the words of Golfarelli and Rizzi (2020), through these factors, the line manager of WFTT can make decisions by introducing a descriptive analytical approach to develop their changing environment. It can guide new employees to recognise specific requirements in managing data management processes through which structured events of marketing operations can be developed properly. Through this planned approach, employees and senior authorities can operate their tasks in a collaborative manner.
Figure 1: Descriptive analytical approach
(Source: As inspired by Appelbaum et al., 2017)
Descriptive analytical approach helps in managing the structured sequence of business operations by controlling all segments related to marketing operations. Through this approach, employees can create a plan for executing all data and information that are responsible for managing data processing activities. According to Appelbaum et al. (2017), it can develop the sequence for new employees of WFTT so that they can understand marketing and business positions. Therefore, they can change their business environment to enhance the competitive environment due to which performance agility for new employees can be developed as per requirements. In this way, the line manager of this business can maintain performance adequacy level in a synchronised way by arranging data sequences properly.
Through the assistance of this analytical approach, new employees can easily understand specific needs or requirements of the marketing environment. Therefore, they can store equivalent data as per needs through which the line manager can analyse that data to modify their existing business strategies and decision making processes. It can help in improving structured requirements of this business and performance agility can be developed without any issues.
Data cleaning
Figure 2: Data Cleaning
(Source: As inspired by Corrales et al., 2018)
Data cleaning plays an effective role in organising importing and exporting data by avoiding duplication levels in normalised form within the database management process. Through the assistance of data cleaning, new employees of WFTT can easily improve the data quality by verifying all data and reconstructing the missing data with the help of standardization processes. As followed by Corrales et al. (2018), this process can help in developing the sequence of merging datasets through which structured information or data can be incorporated successfully. Moreover, data breaches and data duplication values can be avoided depending on the process of data collection methods. It would also bring the structure and analyse all data in terms of Bangles that can guide new employees to incorporate specific requirements of their decision making processes to avoid complexities. It can also develop data sequences and data management processes depending on the structure of performance management without any issues.
Analysis
Data analysis process is helpful for a business to compare all existing values with selected values to analyse reliability and validity criteria. Through specific methods and approaches, an organisation can easily develop their existing business operations to control all types of conditions to maintain data quality management. Summative and formative datasets can help in distributing specific information that can allow in creating a structured and synchronised plan for maintaining the value proposition within a business. Using formative information, specific information of datasets can be gathered that cannot give the accurate values from gathered datasets. On the other hand, summative datasets can give accurate results in terms of requirements by delivering structured information that can be helpful for a business. The line manager of WFTT has decided to use summative information to analyse the Bangles’ data through which markets in the context with countries can be identified properly.
Table 1: Formative data of Bracelet
Figure 1: Formative data of Bracelet
Table 2: Formative data of Ring
Figure 2: Formative data of Ring
Table 3: Formative data of Necklace
Figure 3: Formative data of Necklace
Table 4: Formative data of Accessory
Figure 4: Formative data of Accessory
Table 5: Formative data of Hair band
Figure 5: Formative data of Hair band
From these formative datasets, the line manager can easily identify the categories with respect to markets while performing change management processes. After analysing these datasets, the line manager of WFTT can make sustainable decisions and improve their existing business operations to maintain the data validation and improve data collection processes. In this way, structured operations can be recognised and new employees can easily make their changes to control operational activities to avoid complexities. As followed by Shavelson (2018), it would be beneficial for existing service operations and also maintain the quality in service opportunities due to which service operators of WFTT can control customer segmentation and marketing environment. It can also develop the way of arranging data positions with the help of a descriptive analytical approach depending on specific requirements within this company. It can also guide the line manager to provide adequate training and knowledge so that new employees can easily develop the way of executing change management processes.
Apart from these, these values can also help in identifying that USA and Japan have the most markets of Bangles by distributing all types of accessories towards customers. Using summative information, new employees of WFTT can easily organise a reliable structure and format to present data sequences for subtypes. According to Dolin et al. (2018), through this procedure, values and year can also be identified through which new employees can make suitable changes within their service operations to maintain the validation and reliability criteria without any issues. In this way, quality enhancement and structured performance can also be developed as per requirements without any issues. It would also bring stability within marketing operations by avoiding complications in data management with the help of data cleaning and structured analytical approach.
Conclusion
Data based decision making and proper analysis of the information is necessary for a business to grow. Performance agility is promoted to maintain validity of data and processing structure of a company.
This study focuses on the impact of data driven decision making on businesses by investigating the performance of WTFF. It also emphasises on evaluating a relationship between marketing campaigns and data analytics, which can be utilised to evaluate performance of these campaigns.
The key changes and trends in business operation were evaluated to develop proper awareness regarding its impact. Effective changes in business operations could help to explain the job roles of employees in a structured way. Employees can modify their skills and abilities to cope up with changes in demand of consumers. Data based decision making facilitates senior authority of a business to make changes in the prevalent business approach to progress through a competitive scenario. Performance agility and business operational movements could also be controlled by modifying the structure of a particular business. The concept of data analytics could help in quality management and the utilisation of effective data analytical tools would render employees, supervisors at WTFD to arrange a flexible form of data.
The significance of a planned approach for data analysis method was evaluated through this study. Planned approaches guide higher authority to take effective decisions to improve their existing services. New employees could be guided to identify requirements so that data can be managed efficiently. Senior authorities get the opportunity of executing the tasks in a collaborative manner. The descriptive analytical approach helps to manage structured sequence of business operations and all segments related to marketing operations are controlled.
The process of data cleaning has been critically evaluated to identify its necessity for analysing data for WTFF. The process plays a crucial role in organising, importing and exporting of data by eradicating any chances of duplication. New employees could easily improve the quality of data by verifying the information and reconstructing missing data through a standardisation process. Merging datasets could help structured information to be incorporated successfully and data breaches could be prevented. All the data belonging to Bangles would be structured and analysed to influence employees to incorporate specific requirements of the decision making process.
The line manager at Bangles decided to use summative information to analyse the data of Bangles through which effectiveness of their marketing campaigns was evaluated. After analysing the datasets, the line manager could take effective decisions and improve their business operation to maintain validation of data. The process of collecting data could also be improved by the manager and a structured process is eventually developed. The issues in the organisation can be identified and new employees would be appointed to fix the highlighted complexities. It could prove beneficial for existing service operations and maintain a certain standard in quality of services delivered. Customer segmentation of WTFF would be efficient and the contemporary market environment could also be analysed through this process. The data has helped to identify that Japan and USA are the prime customers of Bangles and by using the summative information new employees at WTFF could develop a structured approach. Thus it can be concluded that Data driven decision making for an enterprise like WTFF can greatly influence the overall productivity of their marketing campaigns and business operation.
Next Steps- the use advanced techniques
Data driven analytics identify certain changes in improvement of performance. The effectiveness of contemporary UK marketing campaigns for Bangles can be identified using advanced techniques. The process could be facilitated for WTFF by recommending different advances in working procedures;
Use of econometric analysis
Econometrics is the application of statistics to economic data of this company. The process could develop empirical content in terms of economic relationship with any marketing campaign introduced by WTFF.
The primary aim of an econometrics model would be identifying factors that dictate sales of WTFF and evaluate the relationships between them. In most of the published models, primary factors that downsize sales of a business are price, distribution, promotions and advertising, each of which are expressed appropriately to accommodate within the model (Guo et al. 2017). Evaluating price and distribution would be easier for Bangles as the entities can be measured relatively. However promotion and advertisements are difficult to evaluate as both the entities cannot be represented by a single figure. The extent to which brand name was communicated using promotions would help to evaluate any marketing campaign introduced by WTFF. Implementing Econometric analysis would facilitate opportunities to this company and efficiently evaluate the success of a marketing campaign by analysing data from above dimensions.
Optimum utilisation of data driven decision making
In terms of functioning properly, Data driven approaches could direct WTFF to manage their supply chain and logistics. However the supply chain process for this company has been identified inefficient and it fails to sustain. Increased utilisation of data driven decision making causes changes in the supply chain process of a business (Kamble et al. 2020). Proper analysis of the data would help to identify demand of customers and resources can be ordered appropriately. Unnecessary waste of raw material would be reduced and operational cost for this company would be saved sufficiently. Inventory management is also improved through maximum utilisation of data driven decision making (Ivanov et al. 2019). These underlying activities would eventually make the supply chain process of Bangles efficient and greater losses would no longer be incurred.
Efficient Customer Relationship management (CRM) systems
An integrated Customer Relationship Management system can be recommended for WTFF. The data of marketing and sales could be aligned easily using an integrated CRM system (Purcarea, 2020). The issue of linking marketing activities with prospects and sales would be removed by integration of an efficient system. A greater sense of transparency for Bangles is maintained as clients get the opportunity to review cost per lead and conversion rates of the brand. “Salesforce”, “Highrise” and “SugarCRM” are some of the popular CRM systems incorporated by contemporary UK businesses. Better segmentation would be possible as the analysis would help WTFF to identify demands of their target customers. A CRM system indicates the performance of a campaign by aligning it with the turnover rates of that particular period (Lee and Johnson, 2019). Customers find their demands to be fulfilled and customer retention rate would improve for Bangles. This system stores relevant data in a digital silo and prevents them from getting tampered or lost in the process. These approaches could be recommended to WTFF to evaluate the effectiveness of a marketing campaign in an efficient manner.
Broad Summary
Reference List
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