Data Analysis and Interpretation for Business Decision Making

This article discusses data analysis and interpretation for business decision making. It covers descriptive statistics and preparation of charts. The article explains the calculation of mean, median, mode, and standard deviation. It also provides insights into the dataset of gender, age, marital status, and preferences for coffee and tea.

UNIT 6 BUSINESS DECISION
MAKING

Table of Contents
DATA ANALYSIS AND INTERPRETATION.........................................................................................................................................3
Descriptive Statistics...............................................................................................................................................................................3
Preparation of Charts...............................................................................................................................................................................3
CONCLUSION............................................................................................................................................................................................7
RECOMMENDATION...............................................................................................................................................................................7
REFERENCES............................................................................................................................................................................................8
Books and journals..................................................................................................................................................................................8

DATA ANALYSIS AND INTERPRETATION
Descriptive Statistics
Statistics
Please
Indicate
your
Gender?
what is
your
age?
what is
your
current
marital
Status?
How
often
do you
have
coffee
in a
day?
When
choosing
to which
coffee
hut you
want to
go,
which of
the
follow
reasons
are your
main
decision
factors?
What
do you
think
about
the
colour
of the
Russian
coffee
and Tea
you
buy?
What
do you
think
about
the
label of
the
Russian
coffee
brand?
What do
you
think
about
the
price of
Russian,
Turkish
coffee
and Tea
?
How
much
are you
willing
to pay
for a
cup of
Russian
coffee?
Which
of the
varieties
of
Russian
coffee
and tea
would
you
most
likely to
buy?
Do you
prefer
Russian
coffee
to Tea?
Which
coffee and
tea
products
from
which
nation do
you
believe the
majority of
Maldivians
and
tourists
would
choose?
N Valid 50 50 50 50 50 50 50 50 50 50 50 50
Missing 0 0 0 0 0 0 0 0 0 0 0 0
Mean 1.5600 3.0200 1.6200 1.9400 3.0600 2.4800 2.6600 2.3000 2.6800 2.3800 1.3000 2.9600
Median 2.0000 3.0000 1.0000 2.0000 3.0000 2.0000 2.5000 2.0000 3.0000 3.0000 1.0000 3.0000
Mode 2.00 3.00 1.00 1.00 1.00 2.00 2.00 2.00 3.00 1.00 1.00 1.00
Std. Deviation .50143 1.30133 .90102 .99816 1.70725 1.05444 1.06157 .76265 1.0583
0 1.24360 .46291 1.51132
Calculation of Mean
For Question 1 and Question 2
Timestamp
1.Please Indicate
your Gender?
2.what is your
age?
4/27/2022
0:37:16 2 1
4/27/2022
0:38:54 1 6
4/27/2022
0:39:15 2 2
4/27/2022
0:47:31 1 2
4/27/2022
0:56:12 2 3
4/27/2022
0:59:09 1 2
4/27/2022
5:00:07 1 5
4/27/2022
9:42:35 2 3
4/27/2022
11:04:13 2 3
4/27/2022
11:30:36 2 4
4/27/2022 1 4

11:48:35
4/27/2022
11:53:31 2 3
4/27/2022
12:04:13 1 3
4/27/2022
12:38:46 1 5
4/27/2022
13:34:58 2 3
4/27/2022
13:41:36 2 1
4/27/2022
13:42:19 2 1
4/27/2022
14:21:03 1 1
4/27/2022
15:22:34 1 1
4/27/2022
17:19:46 2 3
4/27/2022
18:35:55 1 2
4/27/2022
19:53:16 1 4
4/27/2022
20:17:24 2 3
4/27/2022
20:53:43 1 4
4/27/2022
20:55:33 1 3
4/27/2022
23:02:02 1 3
4/28/2022
0:18:05 2 2
4/28/2022
0:30:18 1 3
4/28/2022
10:27:19 2 3
4/28/2022
21:53:48 1 2
4/28/2022
22:21:26 2 5
4/29/2022
5:11:13 2 3
4/29/2022 2 4

8:31:46
4/30/2022
14:40:38 2 3
4/30/2022
23:47:57 1 3
4/30/2022
23:49:46 2 5
5/1/2022
18:13:40 1 2
5/3/2022 3:46:19 2 3
5/3/2022 3:51:58 1 2
5/3/2022 3:53:09 2 5
5/3/2022 3:54:45 2 1
5/3/2022
15:58:44 1 4
5/3/2022
20:50:34 1 3
5/3/2022
20:59:46 2 5
5/3/2022
21:00:55 2 1
5/3/2022
21:02:01 2 4
5/3/2022
21:03:18 2 5
5/3/2022
21:04:21 2 2
5/4/2022 2:28:35 2 2
5/4/2022 2:31:55 1 4
Sum 78 151
N 50 50
Mean: Sum / N
Q1 = 78/50 = 1.56
Q2 = 151/50 = 3.02
Calculation of median
Timestamp
1.Please Indicate
your Gender?
2.what is your
age?
4/27/2022
0:37:16 2 6
4/27/2022
0:38:54 2 5

4/27/2022
0:39:15 2 5
4/27/2022
0:47:31 2 5
4/27/2022
0:56:12 2 5
4/27/2022
0:59:09 2 5
4/27/2022
5:00:07 2 5
4/27/2022
9:42:35 2 5
4/27/2022
11:04:13 2 4
4/27/2022
11:30:36 2 4
4/27/2022
11:48:35 2 4
4/27/2022
11:53:31 2 4
4/27/2022
12:04:13 2 4
4/27/2022
12:38:46 2 4
4/27/2022
13:34:58 2 4
4/27/2022
13:41:36 2 4
4/27/2022
13:42:19 2 3
4/27/2022
14:21:03 2 3
4/27/2022
15:22:34 2 3
4/27/2022
17:19:46 2 3
4/27/2022
18:35:55 2 3
4/27/2022
19:53:16 2 3
4/27/2022
20:17:24 2 3
4/27/2022
20:53:43 2 3

4/27/2022
20:55:33 2 3
4/27/2022
23:02:02 2 3
4/28/2022
0:18:05 2 3
4/28/2022
0:30:18 2 3
4/28/2022
10:27:19 2 3
4/28/2022
21:53:48 1 3
4/28/2022
22:21:26 1 3
4/29/2022
5:11:13 1 3
4/29/2022
8:31:46 1 3
4/30/2022
14:40:38 1 3
4/30/2022
23:47:57 1 2
4/30/2022
23:49:46 1 2
5/1/2022
18:13:40 1 2
5/3/2022 3:46:19 1 2
5/3/2022 3:51:58 1 2
5/3/2022 3:53:09 1 2
5/3/2022 3:54:45 1 2
5/3/2022
15:58:44 1 2
5/3/2022
20:50:34 1 2
5/3/2022
20:59:46 1 2
5/3/2022
21:00:55 1 1
5/3/2022
21:02:01 1 1
5/3/2022
21:03:18 1 1

5/3/2022
21:04:21 1 1
5/4/2022 2:28:35 1 1
5/4/2022 2:31:55 1 1
After sorting the dataset, the median would be computed as follows
Median = Sum of mid value / number of term (In case of more than one value appears in mid dataset)
Q1 = 25th value + 26th value / 2 = (2 + 2)/ 2 = 2
Q2 = 25th value + 26th value / 2 = (3 + 3)/ 2 = 3
Calculation of mode
Mode = The value that appear frequently in dataset
Q1 = 2
Q2 = 3
Calculation of standard deviation
Standard deviation:
σ = √ ∑ (x ¿−μ)2
N −1 ¿
Timestamp 1.Please Indicate
your Gender? (X) (X-Mean) (X-Mean)^2 2.what is your
age? (x) (X-Mean) (X-Mean)^2
4/27/2022 0:37 2 0.44 0.1936 1 -2.02 4.0804
4/27/2022 0:38 1 -0.56 0.3136 6 2.98 8.8804
4/27/2022 0:39 2 0.44 0.1936 2 -1.02 1.0404
4/27/2022 0:47 1 -0.56 0.3136 2 -1.02 1.0404
4/27/2022 0:56 2 0.44 0.1936 3 -0.02 0.0004
4/27/2022 0:59 1 -0.56 0.3136 2 -1.02 1.0404
4/27/2022 5:00 1 -0.56 0.3136 5 1.98 3.9204
4/27/2022 9:42 2 0.44 0.1936 3 -0.02 0.0004
4/27/2022 11:04 2 0.44 0.1936 3 -0.02 0.0004
4/27/2022 11:30 2 0.44 0.1936 4 0.98 0.9604
4/27/2022 11:48 1 -0.56 0.3136 4 0.98 0.9604
4/27/2022 11:53 2 0.44 0.1936 3 -0.02 0.0004
4/27/2022 12:04 1 -0.56 0.3136 3 -0.02 0.0004
4/27/2022 12:38 1 -0.56 0.3136 5 1.98 3.9204
4/27/2022 13:34 2 0.44 0.1936 3 -0.02 0.0004
4/27/2022 13:41 2 0.44 0.1936 1 -2.02 4.0804
4/27/2022 13:42 2 0.44 0.1936 1 -2.02 4.0804
4/27/2022 14:21 1 -0.56 0.3136 1 -2.02 4.0804
4/27/2022 15:22 1 -0.56 0.3136 1 -2.02 4.0804
4/27/2022 17:19 2 0.44 0.1936 3 -0.02 0.0004
4/27/2022 18:35 1 -0.56 0.3136 2 -1.02 1.0404
4/27/2022 19:53 1 -0.56 0.3136 4 0.98 0.9604
4/27/2022 20:17 2 0.44 0.1936 3 -0.02 0.0004
4/27/2022 20:53 1 -0.56 0.3136 4 0.98 0.9604
4/27/2022 20:55 1 -0.56 0.3136 3 -0.02 0.0004
4/27/2022 23:02 1 -0.56 0.3136 3 -0.02 0.0004
4/28/2022 0:18 2 0.44 0.1936 2 -1.02 1.0404
4/28/2022 0:30 1 -0.56 0.3136 3 -0.02 0.0004
4/28/2022 10:27 2 0.44 0.1936 3 -0.02 0.0004
4/28/2022 21:53 1 -0.56 0.3136 2 -1.02 1.0404
4/28/2022 22:21 2 0.44 0.1936 5 1.98 3.9204
4/29/2022 5:11 2 0.44 0.1936 3 -0.02 0.0004
4/29/2022 8:31 2 0.44 0.1936 4 0.98 0.9604
4/30/2022 14:40 2 0.44 0.1936 3 -0.02 0.0004
4/30/2022 23:47 1 -0.56 0.3136 3 -0.02 0.0004
4/30/2022 23:49 2 0.44 0.1936 5 1.98 3.9204
5/1/2022 18:13 1 -0.56 0.3136 2 -1.02 1.0404
5/3/2022 3:46 2 0.44 0.1936 3 -0.02 0.0004
5/3/2022 3:51 1 -0.56 0.3136 2 -1.02 1.0404
5/3/2022 3:53 2 0.44 0.1936 5 1.98 3.9204
5/3/2022 3:54 2 0.44 0.1936 1 -2.02 4.0804
5/3/2022 15:58 1 -0.56 0.3136 4 0.98 0.9604
5/3/2022 20:50 1 -0.56 0.3136 3 -0.02 0.0004

5/3/2022 20:59 2 0.44 0.1936 5 1.98 3.9204
5/3/2022 21:00 2 0.44 0.1936 1 -2.02 4.0804
5/3/2022 21:02 2 0.44 0.1936 4 0.98 0.9604
5/3/2022 21:03 2 0.44 0.1936 5 1.98 3.9204
5/3/2022 21:04 2 0.44 0.1936 2 -1.02 1.0404
5/4/2022 2:28 2 0.44 0.1936 2 -1.02 1.0404
5/4/2022 2:31 1 -0.56 0.3136 4 0.98 0.9604
Sum 78 12.32 151 82.98
N 50 50
Mean 1.56 3.02
Q.1
σ = √12.32 / 50 - 1
= √0.2514
= 0.50143
Q.2
σ = √82.98 / 50 - 1
= √1.6935
= 1.30133
Interpretation: From the above report it has been seen that more than half of the customers are Female falling in the age group
of 30 – 34 years. Not only this, maximum customers of the business are belonging from female gender group as indicated by 75%
quartile. As the maximum customers are belonging from the age group of 30-34, so their marital status is found to be either married.
More than half of the customer population prefer to have coffee 2 times a day and looking at the standard deviation it can be said that
there could be a deviation in customer’s preference for coffee from 1 point, that is, their frequency of having could shift to both 1 time
and 3 times a day (Liu, 2020). Also, quality is the main decision factor for choosing a particular coffee hut while popularity of the
brand is next important decision factor for deciding which coffee hut should be visited. Maximum customer population responded that
the color of the Russian coffee and Tea is good while the label found to be appealing one. Maximum number of customer responded
that the price of the Russian Turkish Coffee and Tea is affordable where responses deviation by 1 point indicates that many customers
found the price to be expensive as well. Furthermore, more than half of the customer are willing to pay for Russian coffee around
MVR15.00. Regarding the varieties of Russian coffee and Tea, Lavender Raf is found to be liked by maximum number of customers
(Kimmel, Weygandt and Kieso, 2020). Moreover, more than half of the customers prefer to have Russian coffee over Tea. Indian
Coffee and Tea are chosen by majority of Maldivians and Tourists.
Preparation of Charts
How often do you have coffee in a day?
Frequency Percent
Valid
1 time 22 44.0
2 times 13 26.0
3 times 11 22.0
4 times and more 4 8.0
Total 50 100.0

1st time
2 time
3 times
4 times and
more
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
44%
26%
22%
8%
How often do you have coffee in a day?
Interpretation: From the above graph it could be seen that around 44% of the customer population prefer to have coffee one time a
day, however occasionally they could have Russian coffee cup 2 to 3 times a day which leads to increased demand for the business.
Accordingly, business is suggested to prepare for higher level of demand occasionally.
When choosing to which coffee hut you want to go, which of the follow reasons are your
main decision factors?
Frequency Percent
Valid
Environment within the
coffee hut 12 24.0
Price 11 22.0
Popularity of the brand 6 12.0
Quality 10 20.0
Service 5 10.0
Others 6 12.0
Total 50 100.0
Interpretation: The main deciding factor for choosing a coffee hut is the environment within the coffee hut. However, price and
quality are the other two most important factors attracting customers towards a particular coffee hut. Accordingly, it is suggested to
coffee hut to set their price by considering competitor’s strategy and should always ensure the best quality of the coffee.
What do you think about the label of the Russian coffee brand?
Frequency Percent
Valid Very appealing 7 14.0

Appealing 18 36.0
Not so appealing 10 20.0
Don't Know 15 30.0
Total 50 100.0
Interpretation: From the above graph it could be seen that the label of the Russian coffee brand is appealing which is assisting
business in generating higher customer leads.
What do you think about the price of Russian, Turkish coffee and Tea ?
Frequency Percent
Valid
Very Affordable 6 12.0
Affordable 26 52.0
Expensive 15 30.0
Very Expensive 3 6.0
Total 50 100.0
1st time 2 time 3 times 4 times and more
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
44%
26% 22%
8%
What do you think about the price of Russian,
Turkish coffee and Tea?
Interpretation: The price of the Russian, Turkish coffee and tea is also affordable as seen through the responses obtained from
customers. So, price could be a motivating factor to attract more customers (Devine and Lloyd, 2019).
Which of the varieties of Russian coffee and tea would you most likely to buy?
Frequency Percent

Valid
Lavender Raf 20 40.0
Raf Mousse 3 6.0
Russian Tea 15 30.0
Vanilla Raf with
Marshmallows 12 24.0
Total 50 100.0
44%
26%
22%
8%
Which of the varieties of Russian coffee and tea
would you most likely to buy?
1st time 2 time 3 times 4 times and more
Interpretation: From the above graph it could be concluded that Lavender Raf is the most liked variety of Russian coffee and Tea.
Also, Russian Tea and Vanilla Raf with marshmallows are the other two liked varieties of Russian coffee and tea.
Do you prefer Russian coffee to Tea?
Frequency Percent
Valid
Coffee 35 70.0
Tea 15 30.0
Total 50 100.0
Frequency
0
5
10
15
20
25
30
35
40
Preference for Coffee over Tea
Coffee Tea
Interpretation: From the above analysis, it could be concluded that 70% of the population prefer Russian coffee to Tea which
indicates that there are greater opportunities for this segment in the market (Dahiya, 2019).
Which coffee and tea products from which nation do you believe the
majority of Maldivians and tourists would choose?
Frequency Percent
Valid Russian 12 24.0
Italy 10 20.0
Indian 7 14.0
Turkish 10 20.0

Others 11 22.0
Total 50 100.0
Russian Italy Indian Turkish Others Total
0
2
4
6
8
10
12
14
Which coffee and tea products from which nation
do you believe the majority of Maldivians and
tourists would choose?
Interpretation: From the above graph, it has been found that majority of Maldivians and Tourists choose tea and coffee product from
Russian nation while Italy, Turkish and Indian are the next preferred nation for the selection of tea and coffee product.
CONCLUSION
From the above report it has been concluded that customer prefer to have Russian coffee 1 time a day while environment
within the coffee hut, price and quality are the main deciding factor for choosing a particular coffee hut. Also, it has been found that
the price and labelling of the Russian tea and coffee product are affordable and appealing respectively. Furthermore, Lavender Raf is
the most liked variety of Russian Tea and coffee and customers are preferring coffee over tea.
RECOMMENDATION
 It is suggested to coffee hut to set their price by considering competitor’s strategy and should always ensure the best quality of
the coffee. Also, they must maintain healthy and appropriate environment within their coffee huts.
 Coffee huts should concentrate more over Russian coffee than tea while diverting their limited resources because customer
prefer to have coffee to tea.
 At last, Lavender Raf is the most liked variety of Russian coffee therefore, coffee hut should include the same in their menu
cards.

REFERENCES
Books and journals
Dahiya, M., 2019. Formulating the research design• Sampling considerations• Collecting the data for the study• Data analysis and
interpretation of findings.
Devine, P. and Lloyd, K., 2019. Analysis and interpretation of quantitative data generated through the Arts and Older People
Programme.
Kimmel, P. D., Weygandt, J. J. and Kieso, D. E., 2020. Financial accounting: tools for business decision-making. John Wiley & Sons.
Liu, S., 2020. Critical business decision making for technology startups: A perceptin case study. IEEE Engineering Management
Review, 48(4), pp.32-36.