Data Driven Decisions for Business

This presentation discusses the importance of data analytics in different sectors and how it helps organizations gain insights for future growth and production. It explores trends and analytical approaches for effective decision making. The presentation also provides recommendations for companies to comply with advanced technology and recruit capable employees. Additionally, it discusses the effectiveness of using econometric analysis and provides references for further reading.

Data Driven Decisions for
Business

Changes and trend that reflect importance
of data analysis
 The importance of data analytics in different sector
is compound and it also helps to provide a useful
insight into a field.
 So, it helps organization and businesses gain
insights into an enormous amount of knowledge that
further assists in future growth and production.
 There are different trends identified which helps
Bangles to increase the improve the importance of
data analytics:
Automation Augmented
Analytics
Artificial
intelligence
Augmented
data
management
Changes in
trend

Analytical approach
 In order to answer the question, Excel as an
analytical approach has been used over others.
 There are different analytical approaches which
can be used by different analytics in order to
generate the best outcomes.
 Here, the research question is ‘Did the
marketing campaign have a positive impact on
sales performance in the UK?’

Tables and graphs to highlight the key points
Bracelet Ring
Necklac
e
Accesso
ry
Hair
band
Sales
Volume 278 18 22 9 2
Sales Value 239261 13382
29406.6
7 11670.5 1219 Bracelet Ring Necklace Accessory Hair band
0
50000
100000
150000
200000
250000
278 18 22 9 2
239261
13382
29406.67
11670.5 1219
Sales for the 5th month
Sales Volume Sales Value

Recommendations
 It is to be recommended to the company to comply with advance technology, as identified by the
trend of data analytics. Through this, company can implement technology like AI, chatbots which in
turn assists to improve the results in positive manner. Along with this, it has been analyzed that
company should recruit the employees who have enough capability to solve the issue if they face
any.
 Through the findings it has been analyzed that company’s product like Hair band and accessory does
not contribute any to its sales performance.

Effectiveness of using econometric analysis
 Throughout the findings, it has been analyzed that
company has a good marketing styles and that is why, the
sale of a company is high for the particular product.
 Further, it also improves the results by using effective
marketing styles and data analytical tools. Similarly, using
econometric analysis, company uses statistical method in
order to give empirical content to determine the economic
relationship.

REFERENCES
 Araz, O. M. and et.al., 2020. Data Analytics for Operational Risk Management. Decis. Sci.. 51(6). pp.1316-1319.
 Lee, Y., Kim, M. L. and Hong, S., 2021. Big-data Analytics: Exploring the Wellbeing Trend in South Korea
Through Inductive Reasoning. KSII Transactions on Internet & Information Systems. 15(6).
 Mariani, M. M. and Wamba, S.F., 2020. Exploring how consumer goods companies innovate in the digital age:
The role of big data analytics companies. Journal of Business Research. 121. pp.338-352.
 Mohammadpoor, M. and Torabi, F., 2020. Big Data analytics in oil and gas industry: An emerging
trend. Petroleum. 6(4). pp.321-328.
 Ranjan, J. and Foropon, C., 2021. Big data analytics in building the competitive intelligence of
organizations. International Journal of Information Management. 56. p.102231.
 Runkler, T. A., 2020. Data analytics. Springer Fachmedien Wiesbaden.