Data Driven Decisions for Business

The report discusses the importance of data-driven decision making in businesses and the trends leading to increased importance of data analysis. It presents the analytical approach used by businesses to answer business questions and analyzes the data. The report concludes with recommendations for improving the analysis and making better decisions. The subject is business analytics and the course code is not mentioned. The college/university is not mentioned either.

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

outcome so that sales of a firm can be improved. This shows the best outcome and assist to make
a valid outcome in order to generate a better customer service that contribute to improve the
business brand image as well. Excel is easy to use and understand, that is why, opting this
analytical approach will be far beneficial as compared to other output which assist to create a
better outcome in term of sales and brand image as well.
c) Analysis of the data
Data
In order to clean the data from the defined dataset, it is necessary to make the steps which
are as mentioned below:
 In order to clean the data, there is a need to use filter from the excel which in turn assist
to generate a better outcome and help to select the data which is essential.
 Further, by using pivot table, only data from 5th month onward will be used for making
comparative analysis. This in turn assist to generate a better outcome (Wang, Zhou and
Lin, 2020).
 Also, this helps to clean the data which means USA, US and Japan will be no longer
required because as per the defined question, Bangles only have to determine the impact
o marketing campaign upon sales and this is proceed from 5th month only. So, in order to
get the answer, only 5th month onward data will be used.
 This assist to generate a better outcome and meet the defined aim as well.
Analysis
The sales of bangles with regard to different products on the 5th month of 2020 is as
mentioned below:
Sales
Volu
me
Sales
Value
Bracelet 278
£239,2
61
Ring 18
£13,38
2
Necklac
e 22
£29,40
7

Accesso
ry 9
£11,67
1
Hair
band 2 £1,219
Bracelet Ring Necklace Accessory Hair band
-
50,000
100,000
150,000
200,000
250,000
278 18 22 9 2
£239,261
£13,382 £29,407 £11,671 £1,219
Sales value and volume in UK for 5th
month
Sales Volume Sales Value
Comparative analysis of all the products sold by Bangles on 2020
Sum of Sales
Volume
Column
Labels
Month Accessory
Bracele
t
Hair
band
Necklac
e
Rin
g
Grand
Total
5 18 608 558 182 107 1473
6 27 689 1208 270 123 2317
7 23 528 590 170 96 1407
8 28 478 593 138 123 1360
9 56 559 1079 193 236 2123
10 15 284 510 81 58 948
11 20 363 483 114 86 1066
12 24 425 810 134 137 1530
Grand Total 211 3934 5831 1282 966 12224

1 2 3 4 5 6 7 8
0
500
1000
1500
2000
2500
608 689 528 478 559 284 363 425
558
1208
590 593
1079
510 483
810
182
270
170 138
193
81 114
134
107
123
96 123
236
58 86
137
Comparison of sales from 5th month
onward
Ring
Necklace
Hair band
Bracelet
Accessory
Month Japan UK USA
5 765 708 985
6 1499 818 1281
7 796 611 1060
8 769 591 905
9 1346 777 1070
10 618 330 700
11 647 419 814
12 993 537 948
5 6 7 8 9 10 11 12
0
200
400
600
800
1000
1200
1400
1600
Coamparison of three countries and
sales of all products from 5th month
Japan
UK
USA
Axis Title

The above table and diagram entails that Accessory from 5th month onward is less as
compared to other products. This shows that there is a need to focus upon this products because
it affect the entire sales of a business. On the other side, after implementing marketing campaign,
it has been identified that there is an improvement in the sales of a products i.e. the sale of
Bracelet, hairband, ring and necklace will be raise in 6th month. This is all because of using best
mode of marketing campaign and help to improve the business performance as well.
On the other side, it has been reflected that on the 5th month, the sales of each product is
low, but as the month increases there will be rise in sales and this assist to create a better
outcome as well. By comparing each product, it has been identified that the sales of Hair band is
highest in all the months, though it decreases in 11th month due to less focusing upon the sales
volume. That is why, it clearly reflected that with the change in entire performance of a business
due to implementing a marketing campaign. This assist to create a better outcome and sustain the
brand image of a firm as well.
Also, by comparing the sales of each country from 5th month onward it has been analysed
that sales in Japan is highest among all countries which is followed by USA and then UK. This is
because the marketers are followed all the key point of marketing and this contributed to increase
sales. However, in UK, there is a need to focus upon the sales of a company by implementing
best marketing campaign because by comparing the sales from other country, it has the lowest
i.e. 7133 in UK, 11035 in Japan and 10913 in USA. Hence, there is a need to focus upon the
sales and this in turn causes a positive impact upon the business performance.
D. Conclusion and next steps
i) Summarising conclusions and recommendations with respect to business question
On the basis of above analysis done to answer the business question that “Whether the
marketing campaign render any positive impact over the sales performance of Bangles in UK”, it
has been identified that sales of product “hair band” has improved drastically. It means that there
is a positive impact of marketing campaign over the sales performance of this particular product
in UK (Berndtsson and et.al., 2020). As against this, the sales performance of Accessory and ring
has got worsen in the period succeeding the marketing campaign in UK. This indicates that there
was no positive impact rendered by the investment made in marketing campaign in UK over the

sales of products such as Accessory and ring. Therefore, certain recommendations that could be
made with respect to the improvement in current analysis are as follows:
 The analysis could be improved if the additional data pertaining to the mode of marketing
campaign could be available along with frequency of this mode in reaching towards the
target audience (Olsson and Söderström, 2019). To get the better results out of marketing
efforts such as organising a marketing campaign by making huge sum of investment in it,
it is most important to determine the best channel or mode through which the campaign
would flourish in the market. Along with this, it is necessary to determine that whether
this mode it sufficient to reach the target audience to communicate the marketer’s
message. Therefore, which mode has been used at distinct regions and related data is
important for better analysis.
 Further, data related to customer’s historical purchases in different market could
accompany the current data which is helpful in determining the history of customer
behaviour and accordingly, better predictions could be made for the future. Customer
data is needed because it provides useful insights over the customer buying behaviour
which in turn helps in making decisions for improved marketing campaign in future
by ensuring precise targeting, giving personalised experiences to customers and
improving overall return on investment made on marketing campaign. Also, it is helpful
in determining how does the marketing campaign has affected the customer buying
behaviour.
 Also, the current analysis could be improved by performing quantitative analysis on the
data related to investment made in marketing campaign and the resulting sales
performance of different regions such as UK, USA and US. The quantitative analysis
such as correlation and regression equation are best for analysing the relationship
between two different variables or the impact of one on another such as the impact of
marketing campaign over the sales performance of Bangles in UK (Najdawi and karan
Patkuri, 2021). The regression equation helps in predicting the value of dependent
variable such as sales with the changes taking place in independent variable such as
investment in marketing campaign.

Therefore, the concerns that is prevailing related to current data analysis is absence of
information regarding the mode of marketing campaign and its capability of reaching the target
audience. Also, the concern is about no application of statistical techniques while analysing the
sales data of quantitative nature, as statistical techniques are highly recommended to evaluate the
relationship between marketing campaign and sales performance.
ii) Next steps – Critical evaluation of advanced analytical techniques
Development and advancement in analytical techniques would certainly be helpful in evaluating
the effectiveness or impact of one factor over the another, like here the effectiveness of
marketing campaign within UK has been analyzed by tracking the sales performance in the
months and year following the investment in marketing campaign (Direction, 2021). Advanced
analytics facilitates semi – autonomous or autonomous data or content examination with the help
of sophisticated tools and techniques which helps in getting deeper insights, making predictions
and generating recommendations about the problems or matters under consideration for the
betterment of future aspects.
One such advanced technique of analyzing data is econometric analysis which is known
as the mathematical and statistical analysis of economic relationships and thus serves as a basis
of economic forecasting. This analytical model is useful for modern business and its
management is devising policies and making decisions related to inventory, production and
prices. There are certain advantages of econometric modelling and analysis like, it reduces the
biases while performing measurement of variables (Svensson and Taghavianfar, 2020). Also, the
impact of one single factor like marketing campaign over the sales performance can be easily
figure out through this model. For instance, it would be beneficial in the present case to figure
out how marketing campaign has render positive impact over the sales performance of Bangles.
Also, with the help of econometric model, specified pattern or result could be obtained from the
scattered data which supports in decision making.
However, this analytical technique has been criticized by experts and statisticians on the
ground that it heavily relies upon raw data during interpretation without establishing any linkage
with well - known and established economic theory or consideration to any other casual
mechanism (Berndtsson and et.al., 2020).

Another advanced technique that could be used for analysing the effectiveness of the UK
marketing campaign over the sales performance of Bangles is data mining. It involves a huge
process of identifying anomalies, correlations and patterns within the large set of data in order to
predict future outcomes of certain variable such as sales. This technique is useful for modern
businesses in terms of making use of results obtained after applying this technique towards
taking decisions related to increasing revenues, cutting costs and reducing risks various kinds of
business risks (Olsson and Söderström, 2019). With the help of this technique businesses can be
able to build models on the basis of historical data in order to predict which product is
responding well to the marketing campaigns like direct mail marketing or online marketing
campaign. In this way, marketers are able to determine an appropriate approach towards selling
profitable products to their target audience. However, there are certain criticism placed upon this
technique as well despite of rendering a lot of benefits to modern businesses such as there is a
privacy and security issues along with further misuse of information while outsourcing analytical
jobs of the business to some data mining firm.

e) Presentation

On the other side, after implementing marketing campaign, it has been identified that there is an
improvement in the sales of a products i.e. the sale of Bracelet, hairband, ring and necklace will
be raise in 6th month. This is all because of using best mode of marketing campaign and help to
improve the business performance as well.
On the other side, it has been reflected that on the 5th month, the sales of each product is
low, but as the month increases there will be rise in sales and this assist to create a better
outcome as well. By comparing each product, it has been identified that the sales of Hair band is
highest in all the months, though it decreases in 11th month due to less focusing upon the sales
volume. That is why, it clearly reflected that with the change in entire performance of a business
due to implementing a marketing campaign.

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