Analysis of TravelPac's data Assignment
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Added on 2021-02-20
Analysis of TravelPac's data Assignment
Added on 2021-02-20
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Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Analysis of TravelPac's data .......................................................................................................12.Defining the knowledge of tools and techniques that common to business decision making..2Methods........................................................................................................................................3Outcomes.....................................................................................................................................4Outcomes.....................................................................................................................................4Interpretation................................................................................................................................8Recommendation.........................................................................................................................8CONCLUSION................................................................................................................................8REFERENCES..............................................................................................................................10
INTRODUCTIONBig data is a term that depicts the structured, semi-structured or unstructured that can beprocessed further for deriving more meaningful information which can be used for decisionmaking. There is a growing trend of big data analytics being used organisations for makingeffective strategies. Big data analytics reduces their cost of operation and helps them inestablishing a competitive advantage (De Mauro, Greco and Grimaldi, 2016).The present project report is going to highlight an analysis of big data of TravelPacregarding the number of passengers travelled in and outside the United Kingdom. It will coverdifferent tools and techniques for decision making, a in-depth statistical analysis of big data. Thisanalysis will be done for providing recommendations to Contiki Travel Tours regarding whichmarket segment it shall target. The tour operator provides adventurous holiday packages andother travelling services to its customers.MAIN BODYAnalysis of TravelPac's data The International Passenger Survey (IBS) collected data about passengers who enteredand left UK. The presented data is of the TravelPac for the third Quarter of the year 2017. Belowis the analysis of data provided by IBS :Ukos : The data is about UK residents and overseas residents. These residents travelledduring the period from July to September. It was observed that both the local and overseasresidents travelled in large number during the quarter 3 of 2017.Mode : IBS collected data related to the mode through which the passengers travelled.The modes were air, sea and tunnel. While looking at the data, it was seen that most of thepassengers travelled through the medium of air than through sea and tunnel. Country : The data names the countries to which people visited in the third quarter.Germany, Czech Republic, France, Italy, Netherlands, Spain, Poland, Belgium, Irish Republic,Lithuania, Mexico, USA, UAE, Austria, Sweden, Switzerland, other Asia and other countries. Itwas analysed that majority of the travellers visited Italy, France, USA, Belgium and Spain.Purpose : The big data includes the purpose for which the passengers travelled. Itconsists of business meeting, holidays, studies, visiting friends and family, and miscellaneous.From the excel of big data, it was discovered that large number of people travelled for thepurpose of holidays and visiting friends and family (VFR). 1
Package : Package is the travelling services bought from a particular tour operator. Thedata showed that people travelled independently, non-independently and with package. The datarevealed that majority of the people travelled independently without any package.Age : The data was divided into different age groups of the passengers who entered andleft UK. The age groups were 0-15, 16-24, 25-34, 35-44, 45-54, 55-64, 65 & above and don'tknow group. It was identified that people from the age 0 to 15, 16-24 and 25-34 travelled themost in the third quarter.Sex : The data was collected and segregated on the basis of gender. There were male,female and don't know category which travelled within the country and overseas destinations. Duration : This variable in the big data represents the time duration for which passengerstravelled different countries. The data was grouped like 1-3, 14-27, 27-90, 4-13, nights, 3 – 6months, 6 months to a year, nil stay and the time duration not known. It was learned thatmajority of the people stayed for 1- 3 nights, 4-13 nights for the purpose of holidays and VFR.2.Defining the knowledge of tools and techniques that common to business decision making Business decision making is a process of formulating the most appropriate and effectivebusiness strategies and action plans for an organisation. The process involves a thorough andcomprehensive evaluation of different alternatives available with the management and selectingthe best course of action. The concept of business decision making is gaining popularity becausethe quality of decisions taken by the management largely impacts the success or failure of thecompany (Importance of Business Decision Making, 2019). There are different decision makingtools and techniques which are used by the managers of a business entity for forming effectivedecisions. These are as follow :Statistical tools : Manager of Contiki travel tours could use different statistical methodssuch as descriptive method for analysing the data that could provide the managementmeaningful patterns of the big data (Chiang and et.al., 2018). Such patterns significantlyhelps in making strategies that are capable of meeting the demands of business andmarket.Decision matrix : This matrix allows the decision makers to critically evaluate andanalyse all the available options regarding a specific decision or subject matter. This isone of the most convenient tool for business decision making and could be used byContiki Travel Tours.2
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