MITS6002 Business Analytics - Assignment

MITS6002 Business Analytics
Assignment 3

Question 1
i. Comment on the insights report based on the overall features; including the
quality of visualizations, presentability, and the information provided
a. Quality of Visualizations and presentability
On average, the report uses a number of visualizations that are relatively clear and includes
textual information for easy contrasting and application of high contrast colors which ensure
visibility hence the quality of the visualizations is fairly good and easy to present i.e. during
projection.
b. Information provided
The report includes a wide range of information on different aspects of innovation in Australia
all of which can be used to tell a story. Hence, the report is fairly informative.
ii. Key Information derived from the report
From the report, the key information is related to the innovative nature/distribution among
Australia retailers. This information can be used to make decisions on the amount of investment
that can be put into a firm’s investment endeavor depending on how innovative the firm ranks
itself.
iii. Summary of the report’s insights
In Australia, only 71% of multichannel retailers are active while 87% of the retailers are either
innovative active of improvers. On the other hand, the percentage of adopters has increased from
26.2% in 2016 to 32% in 2018 which indicates an upward trend among retailers. In relation to
the innovation index, retailers from VIC/TAS are more innovative (32.0) while those from WA
are the least innovative (24.9). in addition, 48% of the retailers tend to invest in sales and
marketing while 55% invest in their websites. Moreover, 80% of innovative retailers expect
returns on innovation (ROI) within 12 months.

iv. Suggested improvements to this insights report
Since the report gives information on different years, the report can use a trend curve to show the
changes in different aspects of innovation over the years. Further, the report uses almost the
same colors for all the visualizations. It is advisable that the visualizations should include various
colors though not overly so as to ensure attractiveness to the reader i.e. to keep the report reading
interesting and somewhat lively.
Question 2
i. Example of where regression analysis can be used effectively
The application of regression analysis can be applied in various fields some of which include
healthcare, banking, mining, engineering, business etcetera. For example, in business practices,
regression analysis can be used to analyze the effectiveness of a marketing strategy, the effect of
the prising of a product or the effect of promotions on sales. In the case of measuring the
effectiveness of a given marketing strategy on sales, the firm can conduct a regression analysis to
measure the relationship between the investment made on the marketing strategy and the return
on investment.
ii. Data containing information on height and weight of 10 individuals
Table 1: Height and Weight data
Height (Inches) Weight (
1 66.72 112.99
2 67.78 143.31
3 71.09 142.42
4 65.43 121.23
5 69.11 115.70
6 67.71 121.96
7 70.04 131.52

8 69.22 128.10
9 70.73 131.64
10 73.90 140.61
iii. Scatterplot based on the above data. Based on the plot comment on the
relationship between height and weight.
65 66 67 68 69 70 71 72 73 74 75
0
20
40
60
80
100
120
140
160
Weight (Pounds)
Heigth
Weights
Figure 1: Scatterplot illustrating the relationship between weights of the individuals and their heights
Based on the scatterplot above, we notice an increasing trend on the relationship between height
and weight such that, an increase in height tends to lead to an increase in weight.
iv. The equation of the regression line.
The equation of the regression line on the relationship between weight and height is obtained as
shown below:
Table 2: Statistics for use in regression and correlation analysis
Heig
ht
Weig
ht
Height×Wei
ght
Heigh
t2
Weigh
t2
66.72 112.9 7538.7 4451. 12767