Business Decision Making Task 3: Data Interpretation Report

This report presents a comprehensive analysis of business data through various visualization techniques, including line graphs, bar charts, column charts, pie charts, trend lines, and scatter diagrams. The analysis focuses on the sales performance of four products (Victorian, Budget, Wetroom, and Sauna) over a four-year period (2012-2015). The interpretation of each chart type is provided, highlighting sales trends, fluctuations, and potential future performance. The line graph demonstrates overall trends, while the bar and column charts compare product performance across different years. The pie chart visualizes the contribution of each product, and the trend line predicts future sales. The scatter diagram helps in identifying relationships between variables and forecasting. The report concludes with references to relevant literature on decision-making and data analysis.

BUSINESS DECISION MAKING

TASK 3

LINE GRAPH
2012 2013 2014 2015
0
1
2
3
4
5
6
7
Victorian
Budget
Wetroom
Sauna

INTERPRETATION
Line graph is regarded as best suitable method used in presenting the
whole set of data in the best possible manner. The way of
presentation will be helpful for an individual in order to interpret the
results in achieving the aim off the business projects. This technique
will be helpful for users in order to predict the increment in the sales
from one period to another as this figure shows the relationships
among the variables. This graph will depicts the dependence of an
entity on all these products in terms of producing higher amount of
sales and the revenue. This figure showcases that except one
product all the products are increasing in increasing the current
ability of the business in front of its competitors. Victoria products
is even shows higher trend that shows to be increased in the later on
year even an entity will increase its production in order to earn
higher revenue.

BAR CHART
2012
2013
2014
2015
0 1 2 3 4 5 6 7
Sauna
Wetroom
Budget
Victorian

INTERPRETATION
Horizontal form of Bar chart is another form of
presentation of data as the appealing visual
presentation will attract wide number of users to
apply money in form of investment in the
business. This bar chart will focuses on four
products to be offered by an entity whose
income has presented in four different years. In
the initial year, all components is showing
fluctuating changes in all the products currently
offered by the business enterprise. The initial
fluctuation will transformed into stableness in
which the income earned by an entity in different
four years get same trend except Victoria
products which is keeps on increasing.

COLUMN CHART
2012 2013 2014 2015
0
1
2
3
4
5
6
7
Victorian
Budget
Wetroom
Sauna

INTERPRETATION
Column chart is another name of vertical format of
bar chart in which external users can interpret
the information included by analyzing the graph.
This figure which denotes four products reflected
in form of various colors from different years
beginning from 2012-2015. The results show that
in the initial phase Budget product is leading all
the products which maintain their lead in the
next year. The lead maintained by this product
will be overtake by Victoria product in the last
two years as they have brought new features in
the products in order to gather the interest f
large number of people towards their business.

PIE CHART
4
4.5
5
5.3
Victorian
2012
2013
2014
2015

6
6.3
2.2
2
Budget
2012
2013
2014
2015

2.5
2.3
2.2
2
Wetroom
2012
2013
2014
2015

3
2.75
2.5
2
Sauna
2012
2013
2014
2015

TREND LINE
2012 2013 2014 2015
0
1
2
3
4
5
6
7
f(x) = 0.723333333333333 x
R² = 0.770183186130193
Victorian
Budget
Wetroom
Linear (Wetroom)
Sauna

INTERPRETATION
Trend line is that approach used by an individual in
order to predict the future of the whole business.
This is important technique used by the technician
which enhances the existing efficiency of all the
resources. Trend line is prepared by the business in
order to forecast its sales for the future period.
Using this particular trend line an entity will analyze
its overall performance which shows that both
positive and negative trend. I the current case
scenario, four products is assessed who have
generated income in four years starting from 2012-
2015 in order to determine the income of the
year2016. The above trend line depicts the entire
products has increasing from one period to another
towards the upward position.

SCATTER DIAGRAM
2011.5 2012 2012.5 2013 2013.5 2014 2014.5 2015 2015.5
0
1
2
3
4
5
6
7
Victorian
Budget
Wetroom
Sauna

INTERPRETATION
Scatter diagram is that statistical method which helps
in determining a specific trend used in the
forecasting. It is that tool used in forming
relationship between two variables of the analysis as
it is based on the Cartesian coordinate’s method. It
has different names such as scatter plot, graph,
chart and diagram whose major aim is to create
positive or negative relationship among the variable
in order to fulfill the main aim of the research. In
the above analysis, four products are analyzed in
the four years which determines the overall
performance of the business concern in determining
its future business trend. It has been seen that
Victorian product is increasing which will be gained
in the year 2016.

REFERENCES
 Boulay, A. M., et.al., 2015. Analysis of water use impact assessment
methods (part B): applicability for water footprinting and decision making
with a laundry case study. The International Journal of Life Cycle
Assessment. 20(6). pp.865-879.
 Craft, J. L., 2013. A review of the empirical ethical decision-making
literature: 2004–2011. Journal of Business Ethics. 117(2). pp.221-259.
 Graham, J. R., Harvey, C. R. and Puri, M., 2015. Capital allocation and
delegation of decision-making authority within firms. Journal of Financial
Economics. 115(3). pp.449-470.
 Hwang, C. L. and Yoon, K., 2012. Multiple attribute decision making:
methods and applications a state-of-the-art survey (Vol. 186). Springer
Science & Business Media.
 Ibrahim, B., Dumas, C. and McGuire, J., 2015. Strategic decision making in
small family firms: an empirical investigation. Journal of Small Business
Strategy. 12(1). pp.80-90.

THANK YOU