Data Driven Decisions for Business - Analysis and Recommendations

This report discusses the importance of data driven decision making in business and highlights new trends in the jewellery sector across UK, USA and Japan. It also provides analysis and interpretation of data to identify areas of growth and make recommendations for short and long term success. The report covers issues related to data quality and their remedies, and includes charts and commentary on sales performance in different markets.

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Data Driven Decisions
for Business

Table of Contents
TASK...............................................................................................................................................3
Introduction and Project plan......................................................................................................3
Data qualities issues and their remedies......................................................................................4
Data analysis and commentary....................................................................................................6
Data chart and give the comments on the basis of the results...................................................12
Conclusion and Recommendations...........................................................................................13
REFERENCES..............................................................................................................................14

TASK
Introduction and Project plan
Data driven decision making can be described as taking guidance of facts, metrics and
data throughout the process of strategic business decision in order to attaining goals. Every
business requires to take data driven decision which encourages the curiosity or critical thinking
among workforce. Employees at every level of management should develop skills of handling
data with application. Numerous models are available that can assist business in making their
strategies more successful (Badakhshan and Ball, 2021). The following report has the purpose of
highlighting various new trends of jewellery sector and analysis of these trends across UK, USA
and Japan. Moreover, it also reflects analysis and interpretation of data in terms of flourishing in
the whole industry. Further, report also discuss few recommendations about the ways through
which businesses can make greater achievements in short as well as long run. For showing
analysis of data, sales figures of Bangles International Jewellery (BIJ) is used.
The analysis and evaluation of data would boost sales level of BIJ in the global market.
This data analytics breakdown is presented below:
 Observation of the behaviour of customers and their responses in context of companies
sales.
 Essential role played by social media in performance of organisation.
 Tracking the components regularly that can enhance the overall sales.
 Observing the strategies or tactics uses by competitors that can support in determining
their strength or weaknesses.
 Identifying strong as well as weak points of company.
 Rearrange the whole price structure according to the current market requirements.
In order to achieve the predetermined sales target it is essential for the business BIJ to
replicate towards the challenges explained above (Brunoe, Andersen and Nielsen, 2023).
Identifying best suitable solution for these problems would help in accomplishing the objective
of BIJ.
The tools that can help in enhancing the performance of Bangles International Jewellery
are profit growth, sales received by the company per consumer base, margin of profit, rate of
customer retention and satisfaction level of customer. These all are described below:

 Sales growth: There are various kinds of material categories available that are used in
making of the final product such as glass, plastic and metal. The foremost vital decision
is the choice of raw material that the company would use in making the bracelet
(Burnetas, 2022). Management also requires to plan on the basis of different seasons,
festivals and trends.
 Revenue earned per customer: Each market segment has different age groups as it
become important for a business to determine their targeted market according to the
different age group for that the commodities is manufactured. It is essential to analyse the
customer base that contributes in enhancing or boosting the sales of Bangles International
Jewellery.
 Profit margin: There might be a chance in the jewellery industry that profit margins of
each business varies. The labour cost and prices in the market for different variety of
bangles has a direct effect on the rate at which final product reach the consumer.
 Rate of customer retention: Customers are the foremost essential factor for each
company. Their retention can be elevated through enhancing the quality of finished
product and framing that whole structure of prices that comes under the purchasing
power of customer.
Bangles International Jewellery can increase their profit margin, share in the market and
sustainable growth through taking the above issue in concern and move towards improving them.
Data qualities issues and their remedies
Below are the description of challenges occur while data analytics:
 The whole degree of data that is collected: In today's era of increasing in complexity
about data there are various associated with storage of this type of data also arises and
operating managers of business should need to be aware with the risks to which their
company may be exposed at any given time. The management needs to concern about
various risks of some data loss (Gussen, Kiesel and Schmitt, 2021). This can also happen
in the BIJ scenario.
 Collecting the current information: There is so much unnecessary data is available,
finding and accessing the vision the company need most could be challenging. By
manually examining the data, management may be able to understand the current
situation in the market.

 Virtual presentation of information: In order to understand the whole data wisely for
the individuals who uses this information for the benefit BIJ then it requires to be
represented in phenomenal ways.
 Collecting information from various sources: The biggest challenge that business face
is related with analysis and organisation of data sets at single place that is gathered or
arranged from various sources for BIJ. Many a times, workforce of the company is not
able to understand the current requirement due to complexity that leads to wrong analysis
and results would not be appropriate (Hipps, 2019).
 Duplicate data: Duplicate data is a problem that all companies have to deal with. This is
often the result of slide processes and multiple systems recording the same information.
When these sources are aggregated for processing, having multiple copies of the same
data set can significantly skew the results or introduce unnecessary overhead. This can
lead to customers receiving multiple, identical marketing materials, annoying users and
wasting time and money. If a customer calls and has multiple entries in the system with
different details, it can be difficult to support them.
 Data collection process: Improving the data collection process may include actions such
as: For example, redesigning data entry windows and associated logic, training data entry
staff, and setting feedback to data entry staff on quality issues. Having lots of small items
like this greatly improves the accuracy of your data. Another extreme example is business
process changes that involve collecting and updating data. Changing who enters data and
when makes the process more efficient and increases the likelihood that data is accurate.
Bringing data entry closer to real events, reducing the number of people involved in the
process, and educating entry personnel about the intent of the application all contribute to
better data. You can modify your business process to add data validation through
additional means as needed (Kohlegger and Ploder, 2018). Business processes can be
changed to remove incentives to provide inaccurate data. The input process can be further
automated if desired. Use of barcodes, retrieval of previously entered information, audio
capture of verbal information exchanges between data authors and data enterers for later
playback, and verification are more accurate through automation example.
The above issues can be resolved by management of BIJ through the support of
appropriate approach that are described below:

 Implement the data through appropriate source system: Sometimes quality problems
arises in the data that needs to be addressed through improving the sources through which
data is collected on the basis of each intervals.
 Advancements in the data source system for solving the data issues: This method is
seems to be similar with the above method but this is totally varies from that one. It
unfold that the system source which is accountable for the collection of data needs to be
set up at automatic mode so that it can cleanse the whole data structure before
implementation of that specific data sets (Long, 2018).
 Application of precision identity: The most critical tool for improving the data quality
and solving the problem but cumulatively the most appropriate and accurate techniques is
that.
Data analysis and commentary

With the analysis of above data, the interpretation can be presented that volume of sales for all
the countries UK, USA and Japan is differentiated on the basis of each month in context of
performance that shows revenue generated from the sales in Japan is greater while making the
comparison with USA and UK. Volume of sales in the Japan of year 2018 is greater that in every
month's sales volume of United Kingdom and USA, that is 4085. Moreover, the real thing is that
volume of sales in Japan in the year 2018 is € 6002613 with the USA and UK. The outcome of
this, it could be presuppose that value of total sales is laid down through the nation's volume of
revenue or profit.
With the analysis of above data, the interpretation can be presented, that the value of total sales
shows a shifts because of shift in volume of sales in each month. The overall performance of
USA and UK is shown to be good but there are some chances that Japan can cover the gap and
would be crossed both the nations in the upcoming few months. In the year 2019, it is shown and
can be analysed with the movements in the above statistics that overall value of sales can
indicates fluctuation in next each month because of the variance in the value of sales (Pinto,
Rapaccini and Barbieri, 2021). It is being reflected that Japan has all the time highest value of

sales in the whole whole data sets of Bangles International Jewellery in comparison to the UK
and USA.
In the proceeding year 2020, the value of sales is shown a declination manually in each
month because of the variances in these value of sales. The nation with the greater sales volume
is USA in the year 2020 that is € 2259425 and € 4131430 simultaneously. The largest in the total
profit is earned by USA that is also 3834.
With the data presented in the table three, the observation can be drawn through this that
monthly sales data of all three nations are continuously showing a fluctuation in each month and
every year whether it is 2018, 2019 or 2020. The Bangles International Jewellery is capable in
raising their overall sales in these immediately proceeding years. The monthly set of data of all
three nations showing fluctuations then it is being observed in the tables above (Rutledge, 2021).
Over these three years, the business is capable in making a sustainable growth in their revenue.
The sales volume of the organisation is also increased in these proceeding years, this increment
reflects that the company can boost their sales with selling their commodities in higher amount
instead of raising the prices of products.

With the data given in the table B, it can be analysed that value of sales of all accessories
such as bracelets, necklaces, rings and handbags is 91,1153,2653,3059 and 612 in the quarter
first.
This chart shows the total sales made by Bangles International Jewellery in the year
2018, 2019 and 2020. It indicates that the total sales of the business is raised in these recent
years and there is also a continuous increase instead of low and high chart, the chart of sales is
going up continuously.

The data in the table above reflects that volume of sales in the nations UK, USA and
Japan in each quarter. The total value of sales as well as sales volume of Japan is crossed the
sales volume of UK and USA (Skipper, Boone and Hill, 2018). However, the performance of
UK and USA in the fourth quarter is showing a reduction in comparison to the other nation. The
data sets presented above can depicts an evaluation and analysis of the volume of sales in Japan
in the quarter third in all the years. It can be observed that the numerous quarters of the year can
be compared in terms of examining the other different items along with time. Data demonstrates
that sales of different commodities has showing an increase over the time period of three years
and also attain a high jump.

Data chart and give the comments on the basis of the results
Chart 1 Comparison of Sales Value
Analysis: The sales value in all the three years 2018, 2019 and 2020 as well is indicating a
significant variance that can also be observed through above chart A. It is seen in the data
presented above that sales value of Japan in the year 2018 as well as 2019 is greater than the total
sales value of UK and USA. Value of total sales of Japan has jumped significantly in the year
2020, in this year the negative effects of Covid-19 pandemic has also affected in the end of 2020
but not much, company was still able to earn profit (Talukder, Islam and Ahmed, 2022).
Chart 2 Comparison of performance between markets

Analysis: From the chart above, you can analyse clustered column charts and data tables.
Expressed as a percentage calculated from total sales and volume for each three-year period.
From the anatomizing, it can be said that the number of sales in Japan in 2018 and 2019 is very
high. However, in 2020, UK sales volumes are higher than all other countries i.e. Japan and the
USA .In 2018 sales in Japan were 4169 with 6121065 and UK with 2303 with 1933006. , 3954
units in the United States, the amount associated with sales is 4413408. Domestic sales in 2019
were 4,085 units, lower than the previous year, and the sales value also deteriorated to 6,002,,613
units. In 2019 there were 2247 sales in the UK with a sales value of 1794419 and a sales value of
39929790 in the US with a sales value of 3703 (Trewin, 2021). The volume for 2020 is 2782
with a value of 4131430, 2583 in the UK with a value of 2259425 and 3834 in the US with a
value of 4445466.
From the above analysis and graphs, it can be interpreted that the sales amount has been
continuously deteriorating since 2019, 2019, 2020 as the sales volume in Japan decreased. In
2020, the country caught up with the UK and was able to increase sales due to increased sales
volume. Compared to other markets, the UK has been successful in increasing efficiency in
terms of performance between the UK, Japan and US markets.
Conclusion and Recommendations
From the above analysis of various tools or techniques and data, the conclusion can be
drawn that Bangles International Jewellery utilizes the structure and sets of information that is bit
huge and divided into three countries. Classification of such kind of data is big challenge. This
report is about is motion of marketing drive of Bangles International Jewellery that needs to be
written in the specific manner that could be analysed or evaluated easily and stakeholders are
able to understand the analysis easily while presentation. In the comparison of each quarter the
data shows that volume of sales of third quarter is greater. Japan has larger volume of sales along
with value of product. The outcomes of marketing drive must employ few accurate approaches in
terms of attracting new customer base specifically those consumers who have keen interest in the
jewellery and other accessories. The company's data of sales volume presents that business is
doing well in the USA but the United Kingdom shows more good results. The report further
recommends that there is a deficiency of creative marketing operations in the UK that needs to
be settle as quickly as company can.

REFERENCES
Books and Journals
Badakhshan, E. and Ball, P., 2021, September. Reviewing the Application of Data Driven Digital
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International Conference on Advances in Production Management Systems (pp. 256-
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Brunoe, T.D., Andersen, A.L. and Nielsen, K., 2023. Data Driven Decision Making When
Transitioning Towards a Modular Setup. In International Conference on System-
Integrated Intelligence (pp. 597-606). Springer, Cham.
Burnetas, A., 2022. Learning and data-driven optimization in queues with strategic
customers. Queueing Systems, pp.1-3.
Gussen, L.C., Kiesel, R. and Schmitt, R.H., 2021, September. Internet of Sustainability–Data-
Driven Sustainability Management in Production. In Congress of the German Academic
Association for Production Technology (pp. 639-647). Springer, Cham.
Hipps, C., 2019. Change is not just analogue but a data-driven vicious circle. Strategic HR
Review.
Kohlegger, M. and Ploder, C., 2018. Data driven knowledge discovery for continuous process
improvement. In Knowledge Management in Digital Change (pp. 65-81). Springer,
Cham.
Long, Q., 2018. Data-driven decision making for supply chain networks with agent-based
computational experiment. Knowledge-Based Systems, 141, pp.55-66.
Pinto, R., Rapaccini, M. and Barbieri, C., 2021. From data to value: Conceptualising data-driven
product service system. Production Planning & Control, pp.1-17.
Rutledge, S.R., 2021. Michael Luca and Max H. Bazerman: The Power of Experiments:
Decision-Making in a Data-Driven World.
Skipper, J.B., Boone, C.A. and Hill, R.R., 2018. Back in business: Operations research in support
of big data analytics for operations and supply chain management. Annals of Operations
Research, 270(1), pp.201-211.
Talukder, M.S., Islam, Q.T. and Ahmed, A., 2022. Helium Health: Data-Driven Healthcare
Service in Nigeria. In SAGE Business Cases. SAGE Publications: SAGE Business
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Trewin, S., 2021. The DataOps Revolution: Delivering the Data-Driven Enterprise. Auerbach
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