ANLY482 AY2016-17 T2 Group13 - Project Overview
The objective for our group in undertaking this project was simple: to create meaningful insights for an organisation that can have a larger impact on society. Linking up with the Department of International Trade (DIT) within our sponsor organisation will allow us to provide data-based insights to their employees, which will hopefully allow the DIT to make trade decisions that could allow jobs to be created and strengthen ties between the UK and Singapore.
Every year, the Department for International Trade (DIT) plans and reviews marketing campaigns that the United Kingdom (UK) should take to encourage British businesses to expand into Singapore. These campaigns are categorised into 18 main sectors, 5 of which are currently the main focus for Singapore. To justify a High-Value Campaign, the sector has to be estimated to be worth about £250 million in export volume over 4 years.
Traditionally, decisions made for these marketing campaigns do not refer to existing historical trade data. Instead, these crucial decisions are built merely upon the sentiments of staff within the department or past successful campaigns. Any patterns in specific import and export data between UK and Singapore as well as between other countries and Singapore are not analysed and are not effectively utilised in DIT's marketing campaigns. This could lead to a loss in untapped trade opportunities for the UK, which decreases UK's export revenue and potentially, their overall GDP.
A user-friendly system which displays information on trade volume, type and directions that can provide insights into UK's current trade patterns with Singapore would thus be valuable to DIT’s decision making.
The main aim of the project is to provide the DIT with valuable insights for decision-making by developing an analytical dashboard contained in a web application. This dashboard will help the end-user determine the following:
- Trade sectors to focus on
- High - / low-performing goods and services that should or should not be imported into Singapore
- High-/low-risk competitors importing into Singapore
