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Analytics Hard

Business Analytics

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14 views

Analytics Hard

Business Analytics

Uploaded by

saiorsabuj
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Mid Assignment

CST2321 (A)

Prepared For

Dr. Md. Qamruzzaman

Associate Professor

Prepared By

Md. Sabuj Mia

ID:114 221 027

September 28, 2024

United International University


Conceptual Assessment

Ans.to the question no. (1)

Business analytics helps improve customer segmentation and personalized marketing by analyzing
large sets of customer data to identify patterns, preferences, and behaviors. Here's how it works:

Customer Segmentation: Analytics can segment customers into distinct groups based on
demographics, purchasing behavior, preferences, and other relevant factors. This helps in tailoring
marketing strategies and communications to different customer segments.

Personalized Marketing: Once customers are segmented, analytics can help tailor marketing
efforts to each group. Personalized marketing involves sending targeted messages, offers, or
recommendations based on the customer’s preferences.

Example Impact on Customer Engagement and Sales

Imagine a retail store uses business analytics to segment its customers into two groups:

• Group 1: Young professionals who frequently buy tech gadgets.


• Group 2: Families who buy household items regularly.

Using this insight:

• Group 1 might receive personalized emails with the latest tech products and early access
to sales.
• Group 2 might get offers on family-related products like home appliances or kids' items.

Impact:

• Customer Engagement: More relevant promotions lead to higher open rates on emails
and more engagement on social media.
• Sales Increase: Since customers receive offers that match their interests, they are more
likely to make a purchase, boosting sales.

2
Ans. to the question no. (2)

Predictive analytics helps companies forecast demand and manage risks in supply chains by
analyzing historical data and trends.

Demand forecasting: It predicts how much product customers will need in the future. This
helps businesses optimize inventory, avoiding overstock or shortages.

Example: A consumer electronics company uses predictive analytics to forecast demand for its
products during the holiday season, allowing it to adjust production schedules and inventory levels
accordingly

If predictions are wrong, it can cause problems. Overestimating demand leads to too much stock,
higher storage costs, and potential waste. Underestimating demand causes stockouts, missed sales,
and unhappy customers.

Risk management: In risk management, predictive analytics identifies potential issues like
supplier delays or equipment failures before they happen. It allows companies to prepare and
minimize disruptions.

Example: A pharmaceutical company uses risk analytics to assess the impact of potential
disruptions in its supply chain, such as regulatory changes or supplier issues, and develops
strategies to mitigate these risks.

In risk management, poor predictions might cause supply chain delays or unnecessary spending
on unneeded safeguards. Accurate predictions are critical for smooth supply chain operations and
profitability.

3
Technical Assessment

Ans.to the question no. I (1)

The store who is offering consistency and volatility in sales:

Weekly_Sales
Store Average of Weekly_Sales Sum of Weekly_Sales2 CV

Mean 124.2484938 1 155.52 22239.58 42%


Standard Error 1.511538585 2 192.57 27537.56 34%
Median 131.68 3 40.27 5757.98 162%
4 209.47 29953.67 31%
Mode 154.04
5 31.80 4546.92 205%
Standard Deviation 65.17168246
6 156.47 22374.89 42%
Sample Variance 4247.348195
7 57.06 8159.08 114%
Kurtosis -0.736801742
8 90.87 12994.44 72%
Skewness 0.172521607
9 54.39 7778.17 120%
Range 348.84 10 189.94 27161.00 34%
Minimum 26.06 11 135.63 19395.56 48%
Maximum 374.9 12 100.90 14428.10 65%
Sum 230977.95 13 200.36 28651.00 33%
Count 1859 Grand Total 124.25 230977.95
We know that lower cv is better.The store number 4 is offering

We know that lower cv is better. The store number 4 is offering consistency in sales, because it
has lower cv. The store number 5 provide volatility in sales because it has higher cv.

4
Ans.to the question no. I (2)

Informative assessment without pivot table:

Information Data Reporting


Average 124.2484938 class frequency %
Standard Deviation 65.17168246 less than 92 693 37.28%
Maximum 374.9 less than 158 480 25.82%
Minimum 26.06 less than 224 637 34.27%
Range 348.84 less than 290 38 2.04%
Number of less than 356 8 0.43%
Observation 1859 less than 422 3 0.16%

Weekly Sale
2.04% 0.43% 0.16%

34.27% 37.28%

25.82%

92 158 224 290 356 422

Ans.to the question no. II (1&2)

Ans.to the question no. II (1) Ans.to the question no. II (2)

Gender M Job Skilled

Row Labels Sum of Savings Loan Purpose Sum of Savings


New Car 113936 Business 15207
Grand Total 113936 Grand Total 15207

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