Data Driven Decisions for Business

DATA DRIVEN DECISION
FOR BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
a) Summarising key changes and trends which are leadings to increasing importance of data
analysis........................................................................................................................................3
b) Presenting the analytical approach used by the business to answer business question...........4
c) Analysis of the data.................................................................................................................5
D. Conclusion and next steps.......................................................................................................9
e) Presentation...........................................................................................................................12
REFERENCES..............................................................................................................................20

INTRODUCTION
Data- driven decision making is related to metrics, facts and data for guiding strategic
business decision which are align the business goal, initiatives and objectives. It is also help to
require creating training and development the opportunities to the employees for learning the
data skills. The present report based on Wood from the trees (WFTT) that is based on
consultancy which were established 10 years ago for helping the company and develop the skills
to analysing data for supporting the business decision. The firm has strong reputation so that it
can workings with internationally recognised brands. The study evaluates the data that are
solving business problems and presenting logical arguments based on the evidence. Further,
discuss data analytics in the business context by considering all the key changes and trends
which are increasing the data analysis in the company such as Bangles. Lastly, justify the
analytical approach which are used by business analytics.
MAIN BODY
a) Summarising key changes and trends which are leadings to increasing importance of data
analysis
In general data analytics are help in businesses for optimising the performance and also
implementing the business model which are important for the company that can helping for
reducing cost in order to identifying more and more efficient way for doing the business with
storing large amount of data. In contexts to Bangles, there are some of the major trends which
are as follows:
Augmented analysis-
In order to utilizing the meta language for mechanises the portion of cycle speeds on the
basis of experiences and connections that are between the datasets which are found to non-
specialised business clients. Also, there are larger and more varied combination of the data
which are brings the additional challenges that are need to investigate, govern and analyse
(Chang and Huang, 2021). Moreover, it is helps to discovering & unearthing that are also most
important insight in order to optimising as well as help in decision making. Fr chosen company
there are additional benefit of the trend are required for increasing focus on organisation that are
wide data literacy and also analytics for business users who are using the relevant data in context
to freeing data scientist for major high value tasks.

Augmented data management-
Bangles using the current trend that is related to segmented data management which helps to
diversity and volume that are being generate for every day growing at the rapid case. There are
more than 2-4 trillion GB of data which are created for all day long.
Always on analytics
This is related to the combination that are related to transnational and analytics real time for the
business process. It leverages the augmented analytics with event stream processing, business
rule, optimization etc (Mishra, Roy and Hanawal, 2022). The proactive behavior of system is
pushing alert, trigger automatic responses and update dashboard etc.
NLP and conversational analytical-
It has been analysis that this approach is help to access for analytic content from several
platforms such as BI that is most usable for specialist data. There are NLP provides users with
simpler method for the interrogating data without any technical skill.
b) Presenting the analytical approach used by the business to answer business question
In order to provide better answer for the business question i.e. did the marketing
campaign have any impact over the sales of a business in UK or not, Excel as an analytical
approach has been used. This help to meet the defined aim and generate the better outcome. It
has been analysed that with the change in an overall performance, and to select the relevant data
from a dataset, it is recommended to use excel. It is so because it helps to extract the relevant
information and this in turn assist to make a valid outcome as well. In the context of present data
set, using excel will help to extract the relevant data i.e. from 5th month onward because
marketing campaign is used by Bangles in that time only.
However, in the context of Bangle, it can be stated that in term of data set, the big data
can be extracted with the help of excel only because has variety off features which assist the
business to make a valid recommendation and then apply in the same as well. Moreover as per
the defined question, it can be stated that excel is the best and simplest way that helps to analyse
the way through which answer can be provided (Sheng-fang and et.al., 2021). This entails that
company need to ensue about the weakness and strength that help to make valid outcome. That is
why, opting excel from other analytical approach will be more beneficial and create a better

Data Driven Decision for Business

TABLE OF CONTENTS
a) Presenting the key changes and trend that reflect the importance of data analysis.................2
b) Describing the analytical approach to answer the business question......................................3
c) Analysis...................................................................................................................................3
i) describing the steps to clean the data.......................................................................................3
ii) Presenting relevant tables and graphs to highlight the key points..........................................4
d) Conclusion and next steps.......................................................................................................5
i) Conclusion and recommendations...........................................................................................5
ii) Presenting the effectiveness of using econometric analysis...................................................7
REFERENCES................................................................................................................................9

a) Presenting the key changes and trend that reflect the importance of data analysis
The role of data and analytics in a digital transformation is now become more strategic
and due to increasing volume and complexity of a data, most of organizations are looking for the
changes that helps improve the sales as well as productivity. There are different key changes and
trends identified within Bangles which are as mentioned below:
Augmented Analytics: It is defined as machine learning and AI assisted data preparation
which reflected that how a business user and analyst can explore as well as analyses data. It has
been explained that due to increase in data collection volume and complexity, decision makers
can easily access to an abundance of data (Danielson and Lasorsa, 2020). That is why, it has
been analyzed that due to larger and more-varied dataset also lead to bring challenges, and also
difficult to manage using manual approaches.
Artificial intelligence: With the help of effective AI, company can analyze its strength
and weaknesses by predicting its behavior and determine the errors as well. It is a new trend that
always helps businesses like Bangles to determine the exact answer and ways to enhance its
sales. Further, it also helps to build corporate trust, compliance with different global regulatory
bodies in order to manage brand reputation. Therefore, explainable AI always enables a better
adoption of AI by raise transparency as well as trustworthiness. That is why, it can be stated that
with the help of this trend in data analysis, company may easily improve the results.
Augmented Data Management: The secondary research shows that in each day around
2.3 trillion gigabytes of a data creates along with many trusted as well as untrusted data sources.
As there are many applications who possesses strong analytics capabilities that assists a business
to generate the best outcome (Huang and et.al., 2020). These processes are automating manual
task that helps to collect the information and then apply the same into premises that assist to
derive best outcomes.
Overall, it has been identified that there are many changes and trends identified regarding
data analysis and this further adds values to the companies like Bangles. However, it has been
further evaluated that with the help of big data, organizations may easily enhance the overall
performance of a company easily.

b) Describing the analytical approach to answer the business question
The defined business question of a study i.e. Did the marketing campaign have a positive
impact on sales performance in the UK? With regard to the same, company uses only excel as an
analytical approach in order to generate the best outcomes. It is tool which is not only used to
solve complex data but it helps to explore the data for better insights. That is why, in the present
data, it can be stated that with the help of chosen excel approach, scholar can have examined the
data and conclude the answers as well (Alkhouli and et.al., 2020). Along with this, the main
rationale behind choosing the analytical approach is such that it will organize the raw data into a
readable format that assists to makes it easier to extract actionable insights. As the given data is
complex and large, that is why, there is a need to use such analytical approach that allow to
customize fields and functions in order to solve the issues.
In addition to this, it has been further evaluated that with the help of excel as an analytical
approach, investigator may filter the data which is relevant for the study. As the data contain
information of three countries whereas the research question belongs to UK only. Thus, to select
relevant data, different functions from excel has been used in order to derive best outcomes.
Apart from this, this analytical approach also assists to transform and clean the data. Moreover, it
is also considering that excel helps to easily visualize the data in the form of charts and graphs.
This helps the reader to interpret the things in more effective manner and derive the results as
well (Dudel and et.al., 2020). Overall, it can be stated that through chosen analytical approach,
scholar can identify the trend and also brings valid conclusion that helps companies like Bangles
to make effective decision for its future growth. Hence, opting excel as an analytical approach
over the other methods will be more beneficial in order to generate the best outcomes and
collapse the relevant data from large one.
c) Analysis
i) describing the steps to clean the data
In order to clean the data, excel as an analytical approach has been used where different
functions can be used in order to generate the best outcomes and highlight key points that are
beneficial for the business. The steps are as mentioned below:
 Select the data which investigator going to be analyzed.