Business Analytics Assignment 3: Innovation, Regression Analysis, and Classification

MITS6002 Business Analytics
Assignment 3

Q1.
i. This report is based on the information from more than 2300+ businesses, decision
makers and managers also, qualitative interviews from more than 15 personal
interviews. Both the information sources have information which provides both
qualitative and quantitative foundation. The retailers and business owner are the
subsets of a large dataset as we are using a data analytics tool to find which areas are
changing the most and by which factor. In this report, we will discuss the dynamics of
innovation which means determining what the major factors which impact the
retailers to adapt to new technology. Some of the questions in this report are,
1. Drivers of innovation and improvement for retailers
2. Perceived benefits of innovation and improvement for retailers
3. Innovation behaviors of retailers
This report also performs discussion and analysis on cases like Investment in
innovation and areas of investment.
ii. After reading out the provided report, we were able to understand the importance of
data analytics in the business sector. There are many facts, figures and statistics to
understand what change is happening due to which trend.
There are some insights like understanding the retail business and find out what are
the circumstance and factors which are making retailer to use more technology in
their business.
iii. This report includes statistics, facts, figures about how retailing business is evolving.
There are discussions about the impact of technology on the Australian retailing
business and what is the reason for business owners for using the latest technology in
their business.
iv. In terms of statistics, this report is well informed but to improve it a bit more, there
can also be word relation between facts and figures of the past compared to the future.
Also, there can also be a reference to some of the sources for these figures so that
anyone can get a better understanding of the in-depth report information.

Q2
i. Many businesses use regression analyses to measure the risk and future opportunities
to help the business in the most efficient way. For a decade, major companies like
Google, Amazon, IBM, etc. have been using technologies like data analysis and Big
data to uncover truths about efficiency and using those methods to reach a new level
of success. In the business sector of data science or regression analysis, people use
various devices and sensors to see beyond the displayed data. Regression analysis is
used to recognize patterns and find similarities to make decisions based on these
analyses. These technologies have very high precision in seeing data patterns to
predict the best and possible next step. As we know that, regression analysis is all
about data and in business we use where the data marks certain data point which we
analyze to determine the relationship between the data are given and prediction
results from that given data.
Not only that, regression analysis help business in understanding the patterns,
correction of errors, process optimization. All these factors are very important in
order to make any business successful and regression analysis ensures these processes
are running efficiently so that prediction results are viable and applicable for the
desired business.
ii. Height
(inches)
Weight (pounds)
76 225
75 195
72 180
82 231
69 185
74 190
75 228
71 200
75 230
72 175