Business Analytics

BUSINESS ANALYTICS

BUSINESS ANALYTICS
QUESTION 1
Part i
The CommBank Retail Business Insight Report FY2018 appropriately utilizes visualization tools
for the presentation of the information. The visualizations used in the report are both of high
quality and relevant for the type of information being communicated. The arrangement (layout)
of the report consists of separate layers for the written information and the visualized
information. That is, the written section and its visualization are side by side. Although this may
look convenient, a more downward layout would be better for transition in reading the report.
The information provided by the report is both specific and comparative, which gives the readers
both a deeper and wider view of the subject of the report.
Part ii
1. A majority of the retailers are innovation active.
2. The multichannel retailers are the most innovation active among the categories of retailers.
3. The biggest innovation drive for retailers is the improvement of efficiency and production.
4. The key perceived benefit of innovation is improved market position with lack of time
dedicated to innovation being the biggest challenge to innovation.
5. Sales and marketing, and online presence lead in the innovation areas where retailers invest.
6. The average return on investment on innovation in the retail industry is almost double the
investment.
The information above is relevant in determining whether to invest in innovation or not. Through
this information, a retailer will be able to approach investment on innovation based on its retail
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BUSINESS ANALYTICS
category and with insights on the potential return on investment and market trend. Thereby,
enabling the retailer to make an optimal decision on investing on innovation.
Part iii
The CommBank Retail Business Insight Report FY2018 is a report that presents findings on the
retail business trend with regards to innovations. The report is focused on the retailers in
Australia for both regional and national retail businesses. This report collected information from
a sample of 2473 individuals in the retail business across Australia as well as from 16 interviews.
It derives information regarding the uptake, nature, expectation and challenges of innovation in
the retail industry in Australia.
Part iv
The report can be improved by firstly adopting a downward layout where written information is
followed by it visualization below. This will enhance the transition in reading of the report. The
report can also provide more summary information regarding the analysis techniques applied.
This will improve the credibility of the report by opening it to counter-checks.
QUESTION 2
Part i
An example of the application of regression analysis is in determination of consumer behavior
trends. Understanding consumers remains an important part of business to date. By using
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