Data Driven Decision for Business

This presentation discusses the concept of data driven decision making in business and its impact on sales performance. It explores the use of advanced techniques like econometric analysis to analyze data related to prices, inventory, and production volume. The advantages and disadvantages of econometric analysis are also discussed. The presentation provides recommendations on how to improve data analysis and emphasizes the importance of using technology for data collection and analysis. It is recommended for students studying business and economics.

DATA DRIVEN DECISION FOR
BUSINESS

TABLE OF CONTENT
• Context
• Analysis
• Conclusion
• Next Step: Use of Advance Technique
• Advantage and disadvantage of Econometric analysis

Context
• The context of the project is to understand about the key trend associated
with the market.
• The business environment has changed immensely that require company to
cope up with the all different trends and the practices associated with the
business environment.
• These trends allow the business houses to take up the competitive
advantage in the respective market.

ANALYSIS
Month Bracelet Ring Necklace Accessory
Hair
band
before
investment 564 73 72 38 21
after investment 1514 131 94 47 14

CONCLUSION
Impact of Marketing Campaign over the Bangles
sales performance in UK
• The marketing campaign put positive impact over
the sales of the bangles in UK but it puts negative
impact over the sales in Japan.
• From the data, it is clearly analyzing that the
sales volume and sales value of the bracelet in
the year 2018, 2019 and 2020 is increasing in the
UK market.
• This means that the marketing campaign of the
Bangles company in the UK provide them sales
and growth opportunities.

CONT..
• Recommendation on Analysis Improvement
• It is recommended to the company that they must use the technologies for collecting and analyzing the data of
the different countries and their subtype products details.
• It is because the technology will directly support the workflow of the area which needs specific attention and
investigation rather than wasting time and money resources on unnecessary data collection.
• Concern about the Current Analysis
• The data analysis means the proper and appropriate interpretation of the relevant, sufficient and valid data in
order to come up with a valuable and meaning full conclusion.
• In this, the data analysis is not that much proper because of the lack of information related to cost value and
profit margin.

NEXT STEP: USE OF ADVANCE TECHNIQUES
Econometric Analysis Technique
• The econometric analysis and digital marketing are
recommended to the Bangle companies in order to
assess the effectiveness of the UK marketing campaigns.
• Econometrics is one of the statistical and mathematical
analysis which helps the businesses to identify and
analyze the data related to prices, inventory and
production volume and cost.
• And it also helps the company in making the appropriate
and relevant decision based on the appropriate data.

ADVANTAGE AND DISADVANTAGE OF
ECONOMETRIC ANALYSIS
Advantage of Econometrics Analysis
 With the help of this model, the Bangel company are able to convert the data into the model which further
helps the company in making the best decisions that support the empirical data.
 The scattered data in the econometrics analysis helps the company in getting the specific result and outcome of
the data analysis and interpretation.
Disadvantage of Econometrics Analysis
 Sometime the two economic variables have no relation between each other in reality but because of the
economic tool of this technique shows the result and patter on the basis of past information. For example,
correlation between dividend paid and rain.
 By using this technique, the company always need to make choice between the simplicity and accuracy. It is
because if they chose less variable than it will provide then simple and fast result but with an inaccurate data.

REFERENCES
Books and Journals
• Abdulahi, A. and et.al., 2017. Nutritional status of under five children in Ethiopia: a systematic review and meta-analysis.
Ethiopian journal of health sciences. 27(2). pp.175-188.
• Anton, S. G. and Nucu, A. E. A., 2020. The effect of financial development on renewable energy consumption. A panel
data approach. Renewable Energy. 147. pp.330-338.
• Ceesay, E. K. and et.al., 2021. Econometrics Analysis of the Relationship between Climate Change and Economic
Growth in Selected West African Countries.
• Das, P., 2019. Econometrics in Theory and Practice (pp. 219-225). Springer, Singapore.
• Li, J. and et.al., 2019. Energy consumption of cryptocurrency mining: A study of electricity consumption in mining
cryptocurrencies. Energy, 168, pp.160-168.
• Mukorombindo, B. R., 2017. The impact of direct marketing on sales performance: The case of seed potato co-op.