Identification of Whether Firm is in Profit or in loss

Added on -2020-02-12

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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3Identification of whether firm is in profit or in loss....................................................................3Finding out most profitable and loss making products for the business firms............................4Average time taken to ship the product.......................................................................................4Areas from which most of orders are returned............................................................................5High, medium and low discount on the products........................................................................5Shipping method mostly used and expensive..............................................................................6Graph of sales, profit and units....................................................................................................8Month in which more amount is generated from sales................................................................9Check to see whether it cost more when order have a higher priority (low, medium, high,critical) if yes then what would be your suggestion to office Company to reduce these costs.10TASK 2..........................................................................................................................................10Use of Weka to gain competitive advantage and way in which it can be used to gaincompetitive advantage...............................................................................................................10Merits and dermis of Weka in comparison to excel..................................................................12Application of J48 algorithm on data set in Weka....................................................................13CONCLUSION..............................................................................................................................19REFERENCES..............................................................................................................................21
INTRODUCTIONAnalytics is one growing field in the current time period. There are number of software’sthat are used in the current time period by the business firms to analyze data. Excel is the one ofthe software that is widely used to analyze the data as there are number of advanced functions inthe same. On the basis of results business decisions are made by the managers. In the currenttime period data related to the business firm is analyzed using excel and Weka software. On thebasis of analysis of data lots of facts are identified and on that basis recommendations are made.At end of the report, conclusion is formed. TASK 1Identification of whether firm is in profit or in lossAnalysis results are reflecting the firm is earning huge amount of profit in its business whosevalue is equal to the £722680. It can be assuemd that most of the product line of the firm isprofitable and it gives magnificent performnace in its business. There may be number of reasonsdue to which firm is earning huge amount of profit in its business. High satisfaction leevl ofcustomers may be one of the main reason that is responsible for the strong busines performance.
Finding out most profitable and loss making products for the business firmsIn order to identify products from which firm earn huge amount of profit in its businessIF function is used in excel. It is necessary to perform the calculation because data related tothese different variables is combined in the excel sheet. By using IF function in the excel sheetgrouping of variables is done and separately relevant values are added in this way for eachproduct line profit amount is computed. Screen shot can be viewed from below.By placing IF condition variable that need to be considered is determined and by using SUMIFfunction values of the variables are added and grouped. Profit of £107738 is made in thetechnology products followed by 286142 is earned on the funitutre products. In case of officesupplies profit of 328799 is earned. It can be said that high amount of profit is earned on theoffice supply products. Average time taken to ship the productFigure 1Average time taken to ship the productAverage time taken to ship the product is 1.97 which means that on average basis two days’ timeis taken by the product by the firm from the date at which order is placed by the business firm. Itcan be said that less amount of time is taken by the business firm to transport goods to thecustomers. It can be said that firm is highly efficient and it is able to supply ordered item easily
to the customers. It can be said that on average basis less amount of time is taken by the firm toship its product.Areas from which most of orders are returnedIt can be said on the basis of analysis of data that West Mid glamorgan is the geographicarea from which most of the products are returned by the customers. This happened because firmfailed to provide services to the customers up to the expected level. It can be said that it is veryimportant for the firm to improve level of its services quality because if same will not be donethen in that case firm may lose its customers in the business. Negative perception may be createdabout the business firm among the customers. Thus, it can be said that this is the time when itbecame important for the firm to focus on its business. It can be said that firm needs to improveits performance and in this regard it need to take number of steps. There are some steps that canbe taken by the firm and in this regard number of steps can be taken to improve the businessperformance and under this cost controls strategy must be formulated by the business firm. Inthis regard, business operations can be analyzed or reviewed and activities that are wasteful orlead to more time consumption can be identified and removed from the business operations andby doing so cost can be reduced for the business firms. It can be said that by reducing cost salesreturn can be reduced from the mentioned geographic area.High, medium and low discount on the productsFigure 2Discount on the products in different categoryIn order place discount in the low category or any other category IF function is used. It can be seen from the table that condition is placed under which discount that comes under the 5% range will be considered as low discount products. Moreover, if discount is observed above the 5% product will be included in the medium discount category. Apart from this, product comes in the
category of high discount when it is identified that discount on same is above 15%. By doing so it is identified that which product comes in the low, medium and high discount category. Shipping method mostly used and expensiveFigure 3Assignment of values to shipping modeFigure 4Use of specific shipping mode in terms of frequencyIn order to compute shipping method that is mostly used IF function is used. Under thiscondition is placed that if shipping mode comes in category of regular the value must be 1followed by value 2 for express category and 3 for delivery van category. The coding that is donefor the regular, express and delivery van is considered to compute overall number of timesspecific mode is used to transport goods. Results are reflecting that goods are shipped in regularmode 2684 times. Apart from this, number of goods shipped in express category is 404. In caseof delivery man number of goods shipped is 472. It can be said that goods are transportedthrough regular mode of goods transport is 2684. Goods are transported more through regular incomparison to express and delivery van.

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