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Assignment BUS501 | Business Analytics and Statistics

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Business Analytics and Statistics (BUS501)

   

Added on  2020-03-16

Assignment BUS501 | Business Analytics and Statistics

   

Business Analytics and Statistics (BUS501)

   Added on 2020-03-16

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BUS501 - Business Analytics and StatisticsName:Lecturer name:30th September 2017
Assignment BUS501 | Business Analytics and Statistics_1
Table of Contents1.Introduction..............................................................................................................................32.Problem definition and business intelligence required.............................................................43.Selected analytics methods and technical analysis...................................................................44.Results and findings.................................................................................................................5Analysis 1: What are the top/worst selling products in terms of sales?.......................................5Analysis 2: Is there a difference in payments methods?..............................................................6Hypothesis 1:............................................................................................................................6Hypothesis 2:............................................................................................................................7Analysis 3: Are the differences in sales performance based on where the product is located in the shop?......................................................................................................................................8Hypothesis 4:............................................................................................................................8Analysis 4: Is there a difference in sales and gross profits between different months of the year?...........................................................................................................................................10Hypothesis 5:..........................................................................................................................10Hypothesis 6:..........................................................................................................................11Analysis 5: Are their differences in sales performance between different seasons?.................12Hypothesis 7:..........................................................................................................................135.Discussion of the results and recommendations.....................................................................14Recommendations......................................................................................................................14References......................................................................................................................................15
Assignment BUS501 | Business Analytics and Statistics_2
Table 1: Top/Worst selling products...............................................................................................5Table 2: t-Test: Two-Sample Assuming Equal Variances..............................................................6Table 3: t-Test: Two-Sample Assuming Equal Variances..............................................................7Table 4: Analysis of variance (ANOVA) for the total sales versus product location.....................8Table 5: Mean total sales based on product location.......................................................................9Table 6: Analysis of variance (ANOVA) for the net sales versus months....................................10Table 7: Mean net sales based on month of the year.....................................................................11Table 8: Analysis of variance (ANOVA) for the gross profits versus months..............................11Table 9: Mean gross profits based on month of the year...............................................................12Table 10: Analysis of variance (ANOVA) for the net sales versus seasons.................................13Table 11: Mean net sales based on season.....................................................................................13
Assignment BUS501 | Business Analytics and Statistics_3
1.Introduction Business data analytics is an important aspect that each and every business in the current wordwould lie to use in order to inform them on how to increase sales, improve on their operations,and maximize on their profit. This report attempts to analyse and present insights to the CEOof Good Harvest which is a new enterprise and is about 2 years old. The CEO would beinterested to know which of the products perform best and which ones are worst performingproducts. The enterprise grows organic farm products and sells to the people. They also offerfree delivery to the customers. The CEO is very much concerned with the revenue generatedby the company. In particular he has put more emphasis on the cost of goods as well asaverage sales. His main problem is how can he maximize on profits? What factors influencesales revenue?2.Problem definition and business intelligence required We are given the company’s data for one year. Out of this, we sought to gain a number ofinsights that we could share with the CEO. The CEO is however interested in finding out anumber of issues that are related to the following research questions;a)What are the top/worst selling products in terms of sales?b)Is there a difference in payments methods?c)Are the differences in sales performance based on where the product is located in theshop? How does this effect both profits and revenue?d)Is there a difference in sales and gross profits between different months of the year?e)Are their differences in sales performance between different seasons?
Assignment BUS501 | Business Analytics and Statistics_4

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