Business Analytics: A Case Study on Wimpy Restaurant
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This report is a case study on Wimpy Restaurant and how business analytics can help in decision making. It includes information on the respondents of the survey, descriptive stats, and recommendations. The report also discusses the importance of psychographic and demographic segmentation in marketing.
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Introduction.................................................................................................................................................3 Background of case study........................................................................................................................3 Respondents of the survey:.....................................................................................................................4 Table 1: Descriptive stats.........................................................................................................................4 Regression Model..................................................................................................................................13 Recommendations.................................................................................................................................15 CONCLUSION.............................................................................................................................................16 REFERENCES..............................................................................................................................................17 Appendix...................................................................................................................................................18
Introduction The word business analytics can be explained as a term that helps to understand practices, skills and technologies for constant investigation and exploration of past experiences related to business performance(AlArmouty and Fraihat, 2019). The given approach helps to provide guidance to business enterprises for gaining insights into productive workings in future related aspects and derive business plans as well. The asserted report that is prepared in form of report will reflect a case study based on Wimpy Restaurant. In the given document better terminologies are being stated that would help to produce coordinated efforts which would help to give better working of operational areas with the help of provided case study related to business. Background of case study The case study in relation with Wimpy Grill was discovered in Bloomington, Indiana by Edward Gold in year 1934. The respected company is recorded to have a strong base of functioningasaconsumerorganisationsinceitcameintoexistence.Thecompanyhas functioned through several areas within the international territories of business related market and it is explained as a creative basis of functioning & working with the help of leadership strategies and management as well. Whereas, highly competitive business market and constant changes recorded in behaviour of customers would have a greater effect on productivity of business related enterprises(Côrte-Real, Ruivo and Oliveira, 2020. As an outcome, supervisors of company have utilised resources while operating supply chain management related operations of a firm. With relation to obtaining a decent place to brand reputation of chosen organisation company superiors of the business of the corporate firm has to guarantee providing adequate quantity and appropriate quality of goods and service that would help to attract & engage customers by their additional services. Hence, there is a demand for extractingdata on quantitative grounds which would help to assist in analysis and carry out effective decision making process as well. It can also be done with the help of interpreting data and developing better basis due to which companies can sustain and survive existing business competition. The managers at selected enterprise search for tolerance, empathy and capacity for responding in a prompt manner when practicing interaction with clients at the time of training & development, recruitment of staff persons. It proves to be a probability to improve culture and corporate
structures, promote employees and teach staff members ways to follow their skills in typical & difficult situations. Respondents of the survey: ï‚·The respondents chosen for the questionnaire takes in account the client base of Wimpy Restaurant. The rationales for the choice of consumers as potential respondent for the questionnaire is to collect reliable data and related information for finding effective solutionsto resolvehurdlesandissuescounteredby arespectivefirm.Theyare considered essential stakeholders and shareholders for the business related activities and strategies as well as standards set for production level that is based on such people(Lao and Harder, 2019). The information given on people is bifurcated on the basis of psychographic data such as interest, personality, activities, opinions, lifestyle and socioeconomic status. It also further contributes in marketing areas that reveal the features of respected persons which are likely to acquireservicesanditems,givefeedbacksandmessagestotheirtargetedcustomers. Demographic segmentation is that organises individual person which are based on standards such as gender, income, age and marital status as well., psychographic information assists to have a better view in finding reasons responsible behind purchasing decisions of people and factors responsible for such choices & why they take them. Quantitative research is useful in utilising for collecting data related to psychographic information, that is used for producing sections. Survey research is considered as the simplest and easiest method for achieving this. As the major sector of globe now has internet available and a rise for using mobile is now in trend and it is observed that the usage of internet, online surveys that become more significant tool for collecting insights of consumer(Lee and et.al.,2021).Implementation of online panel speeds up and helps to improve the accuracy of gathering data, and assuring that question asked is addressed properly and the data needed for psychographic division is critical to achieve success. Table 1: Descriptive stats Recoded Children 12-17 Years FrequencyPercent None120383.0 One17412.0
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Two or More735.0 Total1450100.0 From interpreting data collected above with the help of stats table prepared so far, it can be concluded that there is a high occurrence number of 1203 in case of none recorded children at the age of 12-17 years. There are 174 observant in the group that estimated to be verified as children between the age of 12-17 age. Hence, it can be asserted that numerous results when attained will be based on developing major emphasis on the group that is being recognised for performing testing on results. Table 2; Recoded Adults FrequencyPercent One30721.2 Two82556.9 Three20213.9 Four or More1168.0 Total1450100.0 From the study of above prepared statistical table, it can be witnessed that variable two was recorded of highest frequency for which adults were being conveyed through descriptive evaluation.Intheexplorationbettertermswerebeingexaminedonthebasisofwhich synchronized actions can be taken into account when being associated with decision making procedure of business related companies. Table 3; Region FrequencyPercent Northeast32522.4 Midwest36425.1 South47732.9 West28419.6 Total1450100.0
From the above prepared table, it can be interpreted that operational test were being achieved that helped to correlate towards binding of regional occurrences. Carried analysis helpedtocarryoutproductiveresultsthatprovideda guidanceforbetterterminologies considering south region reporting the highest count in the above prepared frequency table. Table 4; Which of the following best represents the last level of education that you, yourself, completed? FrequencyPercent Some high school or less241.7 Completed high school20814.3 Some college58940.6 Completed college45731.5 Post graduate16811.6 Total144699.7 MissingPrefer not to answer4.3 Total1450100.0 From the above examination of above developed statistical table, it ca n be said that highest count of respective person is recorded from similar college that presented last level of education that has been completed. The asserted table provide guidance for developing better terms of engagement with persons who have incorporated in for completing education terms in high school or less which is observed to be one of the least count in above displayed quantitative data table.
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REFERENCES Books and Journals AlArmouty,B.andFraihat,S.,2019,October.Dataanalyticsandbusinessintelligence framework for stock market trading. In2019 2nd International Conference on new Trends in Computing Sciences (ICTCS)(pp. 1-6). IEEE. Côrte-Real, N., Ruivo, P. and Oliveira, T., 2020. Leveraging internet of things and big data analytics initiatives in European and American firms: Is data quality a way to extract business value?.Information & Management.57(1). p.103141. Doddavaram, R. and Corlu, C.G., 2020, December. Teaching risk analytics using R. In2020 Winter Simulation Conference (WSC)(pp. 3272-3281). IEEE. Dzuranin, A.C., Jones, J.R. and Olvera, R.M., 2018. Infusing data analytics into the accounting curriculum:Aframeworkandinsightsfromfaculty.JournalofAccounting Education.43. pp.24-39. Ferraris, A., and et.al.,2018. Big data analytics capabilities and knowledge management: impact on firm performance.Management Decision. Lao, L.J. and Harder, B.J., 2019. Gateway: a Geospatial Analytics System.The International Archives of Photogrammetry, Remote Sensing and Spatial Information Sciences.42. pp.283-288. Lee, G.M., and et.al.,2021. Mini-Track Introduction: Technology and Analytics in Emerging Markets (TAEM). InProceedings of the Annual Hawaii International Conference on System Sciences(Vol. 2020, p. 1948). Manko, B.A., 2021. Big data: The effect of analytics on marketing and business.Journal of Information Technology Teaching Cases, p.20438869211057284. Parks, R. and Cobb Payton, F., 2018. Designing a Healthcare Data Analytics Course: A Contextual Active Learning Approach. Paul, J.A. and MacDonald, L., 2020. Analytics curriculum for undergraduate and graduate students.Decision Sciences Journal of Innovative Education,18(1), pp.22-58. Raut, R.D., and et.al., 2019. Linking big data analytics and operational sustainability practices for sustainable business management.Journal of cleaner production,224, pp.10-24. Rialti, R., and et.al., 2019. Big data analytics capabilities and performance: Evidence from a moderated multi-mediation model.Technological Forecasting and Social Change.149. p.119781. Ukkola, K., 2018. Analytics and its requirements for data governance-an empirical research
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