BUS501 Assignment - Business Analytics and Statistics
14 Pages2721 Words96 Views
Business Analytics and Statistics (BUS501)
Added on 2020-03-16
BUS501 Assignment - Business Analytics and Statistics
Business Analytics and Statistics (BUS501)
Added on 2020-03-16
ShareRelated Documents
BUS501 - Business Analytics and StatisticsName:Lecturer name:7th October 2017
Table of Contents1......................................................................................................................................Introduction.........................................................................................................................................................32....................................................................Problem definition and business intelligence required.........................................................................................................................................................43..........................................................................Selected analytics methods and technical analysis.........................................................................................................................................................54.........................................................................................................................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:............................................................................................................................7Hypothesis 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?.............................................................................................................................................9Hypothesis 5:............................................................................................................................9Hypothesis 6:..........................................................................................................................10Analysis 5: Are their differences in sales performance between different seasons?.................10Hypothesis 7:..........................................................................................................................115.Discussion of the results and recommendations........................................................................11References......................................................................................................................................13
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
1.Introduction Many people are drawn to starting organic farms. One such is Good Harvest organic farmwhich deals with a variety of products i.e. they deal in farming the organic products and alsoselling of the products directly to the customers through one of their initiatives which is homedelivery. The organization (Good Harvest) has been in existence for about two years now. TheCEO of the company is much interested on how he can tap into data to intuitive decisions[ CITATION Das061 \l 1033 ]. In this study, we therefore analyse the business performance of thecompany (Good Harvest Organic Farm and Market). A year data of the company touching ona range of issues such as product name, product class, sales (gross and net sales), profits,month of the year, and season among others are provided and as such we utilize the data tomake recommendations to the new CEO so that he can make informed decisions which arefact based. The main challenge that the CEO would want to understand is mostly related to theperformance of the company [ CITATION Sie13 \l 1033 ]. He would like to see how does theperformance compare for the different months of the year/season?2.Problem definition and business intelligence required Any retail/sales organization need to be aware that itscompetitive advantage majorly relieson continuing to makedecisions that are correct and real-time. This could involve,promotions at store front, customer incentives, checking and understanding store stock levels,making procurements and ensuring that decisions of the organization are made in real-time.In this case, the CEO had set out some of the research questions he wanted to beanswered in the analysis. The questions are as follows; a)What are the top/worst selling products in terms of sales?b)Is there a difference in payments methods?
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Assignment BUS501 | Business Analytics and Statisticslg...
|17
|3164
|169
Business Analytics and Statistics Assignment - Revenue Analysislg...
|15
|2570
|33
BUS501 Business Analytics and Statistics | Assignmentlg...
|13
|2647
|47
BUS501 - Business Analytics and Statistics | Good Harvestlg...
|19
|3672
|28
BUS501 - Business Analytics and Statistics Assignmentlg...
|14
|2578
|66
Assignment BUS501 - Business Analytics and Statisticslg...
|14
|2525
|105