MSc Management Data Driven Decisions for Business Assignment Sample 2023
Task 1: Introduction project plan
Wood From The Trees Company is established 10 years ago and developed its business in the market. The company focuses on providing data analysis to businesses that are unable to manage the effective date of business. The company hires raw talent in the business and assures the potential development of its employees. Potential trading helps the business to create the best outcomes for the suitable development of the business.
Effective training and skill development assure more engagement of business in the WFTT. WFTT is focusing in creating the analysis of BIJ business to assure the development of business in the internal market. BIJ is expanded its business in the intranasal market in the countries such as Europe, North America and Asia. Business is expanded in three continents of the world. The business of BIJ wants to compete with LVMH, Signet and Cartier.
The business of BIJ is distributed in several networks of Mumbai, Landon, New York holding signature stores. The company is expanded its stores to major airports. As per the observation of Erbaş (2021), data analysis is essential for the business to Calculate the entire business project is elaborated all over the world. This particular report focuses on creating the most adequate analysis of BIJ business by the WFTT company.
Data analytics framework refers to a method for handling data analytics effectively. As per the observation of Baumeister et al. (2020), Data analysis focuses on creating the entire framework for the business to damage the data. Data analysis analyse the sample of business to modify and calculates the financial model to access the entire business’s management data.
As per the observation of Safi and Polish (2022), Industries need to be continually aware of everything which put impacts their bottom line. As per the observation of Coleman (2021), Data analysis Is the key for collecting key performance indicators (KPIs) and setting them for the entire project amazement and assuring creating brand awareness in the market.
In developing business of BIJ data analytics framework feeds data teams with procedures and instruments for wide-ranging implementation of assessments. With the help of an appropriate data analysis, a business understands the profundity in each sector of place over the globe. As per the observation of putri et al. (2022), a data analysis involves monitors customer behaviour in business, creating updated data for the daily transactions in business. Analyse the appropriate and sales of businesses, manage the cost structure of the business to assure the entire system of business.
As per the observation of Putka et al. (2022), Analysis of data ensures the strategy of business more adequately as the company understand the strength and weakness of each aspect. The analyst skills of the analyst are vital as the entire business is dependent on the data analysed by the analyst of WFTT.
The KPI of BIJ is aniseed by the analysed list as the number of details about the customer faction in the business in the international business, the positioning of the brand in the global market. As per the observation of Rhodes and Bell (2021), implementation of business supply chain management and assurance of international quality management of the business.
The employee satisfaction rates in the business of BIJ and management of wages and employee retains on the company. As per the observation of Verma et al. (2019), the Management of law and taxation of business is critically aniseed by the analyst to develop the financial structure of the company.
Task 2: Data quality issues and remedies
The most common issue in data analysing is a typing errors, duplicate data, and too much information about the data. The business of WFTT needs to focus on the development of maintaining typing errors the data analyst presents minute data about the business. As per the observation of Mölder et al. (2021), the entire prospect of data analysis is designed by excel sheep the focus of the list is vital and rechecking the filled data and crossing-checking the data with experience assures zero mistakes in the outcomes of excel.
As per the observation of Oulton et al. (2021), Data must hold all the details such as products, dates, sales and calculation of finance missing any aspect in the data sheet is a major issue as a lack of information reduces the chances of insufficient analysis of the company.
In the market, the analysis of the data holding the market on missing A such as USA is written as US. Error in the year 2020 was written 202020 as a typing error. In the subtype, the hair banal is written together and a gap between the hair and band was required. The ankle bracelet was written in the wrong way it is corrected in excel. Sales volume is written in negative it is changed in numeric order and the minute’s values are changed in the excel file.
The currency sign was mistaken in the excel file, as a result, the symbols are created appropriately. This detail needs to be focused more minutely to assure the entire data. The silly typing mistakes in the data file can change the entire perspective of the analysis. Rechecking the entire excel file before delivering it to the client is vital as it ensures the reputation of WFTT company in front of their customers.
As per the observation of Rhodes and Bell (2021), Observation of the entire calculation is essential to assure each sector of business and deliver the most appropriate data to the customer.
Task 3: Data analysis and commentary
Figure 1: Data and trend analysis of BIJ
(Source: Self- Developed)
The above data shows that in the year 2018 1st month’s sales volume was 922 in February it is calculated as 961 in march it is 885 in April it is 747. In May 763 and so on. In the year 2018 business sales volume was highest in September, June and December the total sum of sales in the year was calculated as 101327.
The total sum of sales is 124777737.41 average values of sales in the business is 80501.53168. The above chart shows the details of 2019 which shows that the company’s sum of sales in January is 757 in February it is 874 in March, it is 870 business sales were the highest in June and September and business sales were lowest in October. a total sum of sales in the year 2019 was 10037. The Sum of value sales in the year 2019n was calculated as 11793138.95 and the average sales value is 71909.38384.
In the year 2020 In June business gained the maximum profit and the lowest in the month of the customer. The sales volume of the business was calculated as 9199 in the year 2020. The Sum of sales in the year 2020 was calculated as 10837362.16 and the average sales in the year 2020 are calculated as 61228.0348 in the business of BIJ. BIJ estimation is created based on sales and sales volume in the business.
The total of three years 2018, 20191, and 2020 were calculated in the sum of volume as 29563, the sum of total sales as 35108238.52 and the average sales of all these three years in the business of BIJ is calculated as 70782.73895.
Figure 2: Comparison of quarterly sales of BIJ
(Source: Self- Developed)
The above figure shows the quarterly sales of business off BIJ in the first year the business gained a sales volume of 2768 in the first quarter of the send quarter of 2018 the sales of the business is 2541 in the third quarter of 2018 the sales volume of BIJ is calculated as 2665 and in the fourth quarter it is 2353. In the year 21018, the business’s total volume of sales is 10327, the total value of the sales in the entire year is 12477737.41 and on average, the sales volume is 80501.53168.
In the year 2019 the sales of the company in the 1st quarter is2501 then it is 2764 later in the third quarter of 2019 the sum sales volume is 2745 and in the last quarter it is 2027.10037 is the total sum of the volume of the BIJ business and the total sum is calculated as 11793138.95and the average sales of the businesses in the year 2019 is 71909.38384.
In the year 2020, the sales of the business in the first quarter is 2281 in the second quarter it is 2775 and in the third quarter the volume sales of the business is 2515 and in the final quarter of year 20101, the sales volume of the business is 15628. In the year 21010, the second quarter shows the highest sales in the business of BIJ.
The total sales volume in the year 2019 is 9199 and in the year 2020 the total sales of the company are 10837362.16and the average sales of the BIJ business are calculated as 61228.0348. The total of three years is calculated as 29563sales volume of BIJ business. The ATOL average sales of the Business in the entire three years is 70782.73895and total sales value is 35108238.52.
Figure 3: Quarterly sales in different countries
(Source: Self- Developed)
The above graph shows the sales volume of big business in the market of Japan USA and the United Kingdom. In the first quarter the sales of the business in Japan are 1188, UK it is 577 and in the USA the sales are 1003. In the year 21018 the second quarter of the business was 1014 in Japan in the UK it is 664 and in the USA it is 863.
The total sales of the business in the three markets are different in Japan the total sales of all 4 quarter is 4168 and in UK it is 2303 and in the USA the sales of the business in the year 2018 is 3856. The highest volume of sales is seen in the year 2018 in japan.
Next year the sales of Japan were 4085, UK sales of al, three quarters is 2247 and sales in USA in the year 2019 3705. The highest sales volume of business in the year 2019 was gained in Japan. The Business of BIJ in the year 2020 sales volume is 2787 AND IN UK it is 2583 and the sales volume in the USA is 3834. In the year 2020, the highest sales volume is seen in the USA. The grand total of three YEAR sales volume of BIJ business is 11035 in japan 7133 in UK and 11395 in the USA.
Task 4: Data charting and commentary
Figure 4: Sales value trends comparison
Source: Self- Develo(ped)
This study is giving information on the sales value trends of the BIJ Company. It is showing its sales in Japan, the United Kingdom and the USA. It is showing sales values in 2018 in Japan, the United Kingdom and USA are 6121066.36, 1933005 and 4423665 respectively. It is showing the values of 2019 of 6002611.52, 1794417 and 3996110.33 for those respective countries.
This company has sales values of 4132431.05, 2259426.14 and 4445504.97 for the year 2020 for those respective countries. The sales in Japan are spontaneously decreasing from 2018 to 2020 whereas in the United Kingdom increased in 2020 rather than in 2018 and 2019. The sales value of the USA decreased from 2018 to 2019 and it increased in 2020. The sales value is highest in japan through all three years whereas it is lowest for the United Kingdom.
Figure 5: Market comparison of business
(Source: Self- Developed)
The survey shows that the multinational organization BIJ had a huge market across the globe and from its range of products Hair brand has generated the most revenue in Japan as compared to the USA and the United Kingdom. In Japan revenue generated from hair brands by the organization, BIJ accounted for approximately 126164479.58 as compared to other countries in the USA amount of revenue gendered from hair bands is approximately 3129257.23 and in the United Kingdom is 399147.79.
This analysis shows that most of the revenue that is generated from hair brands is from Japan as compared to USA and United Kingdom. However, in terms of Bracelet, organizations like BIJ generated most of their revenue from the USA as compared to the United Kingdom and Japan. Revenue generated from bracelets in the USA is approximately 5317268.13 which is much higher as compared to the United Kingdom and Japan. However, the revenue earned from the bracelet in the UK is approximately 3880093.78 and in Japan 901162.74.
Figure 6: Impact of marketing campaign
(Source: Self- Developed)
The image indicates that in the country Japan the total sales volumes sum is approximately 11035 and 16256108.91 respectively. This includes Accessory 155 ad 305179.89 and the bracelets 834 and 301162 respectively, and hair band 8403 and 12616479.58 respectively. In addition in the country United Kingdom, the total sales volumes sum is approximately 7133 and 5986848.79 respectively.
This includes rings 793 and 540838.63 respectively and accessories 113 and 163317.66 respectively and necklaces 929 and 1003450.93. On the other hand, the country USA has 11395 and 128652 respectively and the total sum of sales volumes 29563 and 35108238.52 respectively.
Task 5: Conclusions and recommendations
Conclusion
This paper concludes the business analysis of BIJ business done by WFTT business the company is potentially expanded its business in three continents and the best sales of the business are generated in Japan and the USA. The analysis of the business helped the business the analysis the entire market and assuring the sales per year in business. The company of BIJ can maintain an efficient stock of the business and helps the business to gain competitive advantages in the market.
The company is constantly evaluated and the data from the last three years in the business off BIJ is efficiently maintained by the analyst of WFTT. As per the observation of Ahmadi et al. (2019), Analysis of the market shows that the total business is expenditure and the average cost structure of the business is potentially managed by the business to evaluate the entire market of BIJ in the global market expansion. Data analysis analyse the model of business to change and calculates the economic model to access the entire interaction management of data.
Recommendation
Recommendation 1: Acquiring information
It is recommended that the business accrue adequate information from the business to assure the entire market sales of the business. As per the observation of Alsaif et al. (2022), the information of data analysis of business assures the proper maintenance of data and creates the most positive outcomes in business.
BIJ will be able to understand the volume of sales in each country and creates a sum of businesses in each country. An effective supply chain is maintained and customer behaviour in each place is analysed properly.
Recommendation 2: Implementation of the strategy
The appropriate analysis of data provides the vision for the business to understand its strength of the business as well as its weakness As a result it will analyse the market of Japan America and the USA. Potential data helps the business to assure influential sales in the market and create better opportunities for the big business to expand business in Africa and other desired countries of the world. As per the observation of Song et al. (2021), adequate strategies encourage shareholders, and stakeholders, in business and assure suitable development of the enterprise.
References
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