Difference between revisions of "ANLY482 AY2017-18 T2 Group15 Project Overview"

From Analytics Practicum
Jump to navigation Jump to search
m
 
(5 intermediate revisions by the same user not shown)
Line 16: Line 16:
  
 
| style="padding:0.3em; font-family:Arimo; font-size:110%; border-bottom:4px solid #aaaaaa; border-top:4px solid #aaaaaa; background:#ffcc16; text-align:center;" width="10%" |
 
| style="padding:0.3em; font-family:Arimo; font-size:110%; border-bottom:4px solid #aaaaaa; border-top:4px solid #aaaaaa; background:#ffcc16; text-align:center;" width="10%" |
−
[[ANLY482_AY2017-18_T2_Group15_Reflections|<font  face ="Helvetica" color="#3f3d3d"><strong> REFLECTION</strong></font>]]
+
[[ANLY482_AY2017-18_T2_Group15_Recommendations|<font  face ="Helvetica" color="#3f3d3d"><strong> RECOMMENDATIONS</strong></font>]]
  
 
| style="padding:0.3em; font-family:Helvetica; font-size:110%; border-bottom:4px solid #aaaaaa; border-top:4px solid #aaaaaa; background:#ffcc16; text-align:center;" width="10%" |
 
| style="padding:0.3em; font-family:Helvetica; font-size:110%; border-bottom:4px solid #aaaaaa; border-top:4px solid #aaaaaa; background:#ffcc16; text-align:center;" width="10%" |
Line 27: Line 27:
  
  
−
<div align="Left">
+
<!--Sub Header-->
−
<div style="background: #ffebba; padding: 12px;font-family:Helvetica; font-size: 15px; font-weight: bold; line-height: 1em; text-indent: 15px; border-left: #ffcc16 solid 10px; border-right: #ffcc16 solid 10px; text-align:center "><font color="#3f3d3d">OUR MOTIVATIONS</font></div>
 
−
<br/>
 
−
::To address the company’s concerns as stated by their representatives, our group aims to add value to the company by helping them to discover the determinants of a stronger brand – the extent to which advertising impacts sales. This would give the company’s marketing team a clear view of the concrete steps to take so their brands achieve increased market share.
 
−
 
 
−
::In addition, we aim to create a comprehensive information dashboard displaying statistics and analytics which will allow users to obtain a clear overview of sales trends, business outcomes from various marketing decisions, and other details to facilitate management’s decision-making process.
 
−
<br/>
 
−
 
 
−
<div align="Left">
 
−
<div style="background: #ffebba; padding: 12px;font-family:Helvetica; font-size: 15px; font-weight: bold; line-height: 1em; text-indent: 15px; border-left: #ffcc16 solid 10px; border-right: #ffcc16 solid 10px; text-align:center "><font color="#3f3d3d">METHODOLOGY</font></div>
 
−
<br/>
 
−
::Our project methodology will consist of, but is not limited to, the following:
 
  
−
:::1. '''Correlation Analysis'''
+
{| style="background-color:white; color:white padding: 5px 0 0 0;" width="100%" height=50px cellspacing="0" cellpadding="0" valign="top" border="0" |
  
−
::::Correlation Analysis will be done between Marketing Expenditure and Brand Equity Scores. This will show how a particular marketing action affects the sales of the various beverage brands.
+
| style="vertical-align:top;width:50%;" | <div style="padding: 1px; text-align:center; line-height: wrap_content; font-size:14px; border-top:3px solid #ffcc16;border-bottom:3px solid #ffcc16 "> [[ANLY482 AY2017-18 T2 Group15 Project Overview Version 1| <font color="#000000"><b>'''VERSION 1'''</b>]]
  
−
:::2. '''Market Basket Analysis '''
+
| style="vertical-align:top;width:50%;" | <div style="padding: 1px; text-align:center; line-height: wrap_content; font-size:14px;  border-top:3px solid #ffcc16;background:#545454;border-bottom:3px solid #ffcc16"> [[ANLY482 AY2017-18 T2 Group15 Project Overview| <font color="#FFFFFF"><b>FINAL</b>]]
  
−
::::This is an analysis between how the sales of different brands correlate to each other. One of the main deliverables of interest will be the analytics of cannibalization effects among the brands.
+
|
−
 
 
−
:::3. '''Seasonality Trends'''
 
−
 
 
−
::::We will analyze how sales fluctuate on a broader scale, such as during holiday months and seasons, as well as how marketing campaigns affect sales trends.
 
−
 
 
−
::The main tool to be utilised will be JMP Pro 13. This tool is selected for its combination of statistical analyses capabilities and visualization features provided. The end deliverable will be an interactive, updatable (through synchronisation) HTML dashboard that is accessible through mobile devices.
 
−
 
 
−
 
 
−
::Some examples of JMP functionalities that we may use is shown below.
 
−
{| class="wikitable"
 
−
|-
 
−
! style="font-weight: bold;width: 50%;" | Visualization
 
−
! style="font-weight: bold;;" | Description
 
−
|-
 
−
|
 
−
<p><center>'''Time Series''' </center></p>
 
−
[[File:time_series.png|center|300px]]
 
−
||
 
−
This is a simple and easily understood visualization to display sales trends. Individual graphs could be used to visualize the sales trends for each product, or for each sales channel, etc.
 
−
|-
 
−
|
 
−
<p><center>'''Actual by Predicted''' </center></p>
 
−
[[File:actual_by_predicted.png|center|300px]]
 
−
||
 
−
This plot provides analysis of model fit, taking into account variations due to random effects. After establishing the impact of marketing spending on sales, this visualization can help users discern the accuracy of sales predictions based on marketing spending by comparing the predictions against actual historical sales.
 
  
 
|}
 
|}
−
 
+
&nbsp;
−
<br/>
+
<!--/Sub Header-->
  
 
<div align="Left">
 
<div align="Left">
−
<div style="background: #ffebba; padding: 12px;font-family:Helvetica; font-size: 15px; font-weight: bold; line-height: 1em; text-indent: 15px; border-left: #ffcc16 solid 10px; border-right: #ffcc16 solid 10px; text-align:center "><font color="#3f3d3d">SCOPE OF THE PROJECT</font></div>
+
<div style="background: #ffebba; padding: 12px;font-family:Helvetica; font-size: 15px; font-weight: bold; line-height: 1em; text-indent: 15px; border-left: #ffcc16 solid 10px; border-right: #ffcc16 solid 10px; text-align:center "><font color="#3f3d3d">OUR MOTIVATIONS</font></div>
 
<br/>
 
<br/>
 +
::Data visualization is an important tool in driving success in businesses. Because of the way our brains process information, certain methods of data presentation, such as clear charts and graphs, make it much easier to convey important information and concepts to an audience, as compared to spreadsheets and reports.
  
−
::We will be working with data of all beverage products sold by the company in Singapore. In terms of data, we will be working mainly with Marketing and Sales data as our primary focus is to link these two segments meaningfully.
+
::This is especially important for large companies, which have access to large amounts of data, as their data may hold crucial information on the business and the market. By adopting standardised processes of data cleaning, structuring and transformation, businesses can create visualisations which improve business decisions and efficiency.
 
<br/>
 
<br/>
  
 
<div align="Left">
 
<div align="Left">
−
<div style="background: #ffebba; padding: 12px;font-family:Helvetica; font-size: 15px; font-weight: bold; line-height: 1em; text-indent: 15px; border-left: #ffcc16 solid 10px; border-right: #ffcc16 solid 10px; text-align:center "><font color="#3f3d3d">DATA USED</font></div>
+
<div style="background: #ffebba; padding: 12px;font-family:Helvetica; font-size: 15px; font-weight: bold; line-height: 1em; text-indent: 15px; border-left: #ffcc16 solid 10px; border-right: #ffcc16 solid 10px; text-align:center "><font color="#3f3d3d">LITERATURE REVIEW</font></div>
 
<br/>
 
<br/>
  
−
::'''Company X provided us excel files containing the following data:'''
+
::The selection of a suitable business intelligence (BI) analytics tool that fits the enterprise is critical to the success of any BI project of an organization. We visualize data for various purposes and these direct us to select and design visualization in particular ways that rely on software tools which support particular features. To simplify the process of the selection, we may classify the requirements based on their degree of necessity. Furthermore, there are also special considerations with regards to obtaining those specific features in a tool – the requirement of custom coding, purchase of an add-on product from third party or a special product edition. For this comparative study, the team will be basing their evaluation on this list of criteria in Table 1. While this may not be an exhaustive list of requirements for a visualization tool, it satisfies three main conditions that many, if not all, organizations require in their BI tool – ease of use, data connectivity, line-of-business fit.
−
 
 
−
::*Distribution of stores Company X supplies to across Singapore from 2014 to 2017, according to the type of store, the product brand supplied and the region the store is located. There are four types of stores, namely:
 
−
::**THC: supermarkets, convenience stores and petrol marts.
 
−
::**TOP: Chinese restaurants and seafood restaurants.
 
−
::**MOB: modern cafés, bars and pubs.
 
−
::**New channels and events: stores which are not permanent such as carnivals and sponsorships.
 
−
 
 
−
::*Key performance indicators of each brand from 2014 to 2017 for different age groups of males. The KPI scores are derived from surveys conducted by Company X.
 
−
::*Price index of each brand from 2015 to 2017. This shows the average retail prices.
 
−
::*Details of the promotions which retailers advertised on newspapers such as The Strait Times and Lian He Zao Bao, from 2017 to 2018, for the brands Company X owns as well as competing brands.
 
−
::*Duration and date of the campaigns Company X held for each brand in 2017.
 
−
::*Monthly sales volume for each brand from 2014 to 2017.
 
  
 +
{| class="wikitable" align=center width=80% style="background:white;color:black;"
 +
  |+ style="font-weight:bold;"| Table 1: List of Visual BI Tool Criteria by Stephen Few
 +
|-
 +
    ! style="background:#ffcc16;color:black;"| Category
 +
  ! style="background:#ffcc16;color:black;"| Requirement
 +
|-
 +
  | 1. Visualizations
 +
  | Useful charts and their features
 +
|-
 +
  | 2. Interaction
 +
  | Ways in which the information that you're viewing or the visualization that you're using to view it can be easily modified to see things differently
 +
|-
 +
  | 3. Multi-chart Displays
 +
  | Combining multiple charts on a single screen for simultaneous viewing
 +
|-
 +
  | 4. Statistical Calculations
 +
  | Built-in descriptive statistical functions
 +
|-
 +
  | 5. Speed of Response
 +
  | The time it takes for operations to complete once initiated
 +
|-
 +
  | 6. Data Access and Integration
 +
  | The ability to access data from all useful sources and to integrate data sets with ease
 +
|-
 +
  | 7. Output and Content Management
 +
  | Ways in which information can be delivered to others
 +
|-
 +
  |8. Platform Options
 +
  | The devices on which the tool can be used
 +
|-
 +
  |9. Ease of Learning and Use
 +
  | The ease with which analysts of various types can learn to use the product
 +
|-
 +
  |10. Programmability
 +
  | The ability to easily and extensively customize and automate a particular set of analytical tasks for repeated use
 +
|-
 +
  |11. Advanced Features
 +
  | Support for data mining, collaborations, audit trails, etc.
  
 +
|}
 +
<br/>
  
 
<div align="Left">
 
<div align="Left">

Latest revision as of 16:07, 15 April 2018

HOME

PROJECT OVERVIEW

DATA ANALYSIS

DOCUMENTATION

RECOMMENDATIONS

ABOUT US

BACK TO MAIN ANLY82


 

OUR MOTIVATIONS


Data visualization is an important tool in driving success in businesses. Because of the way our brains process information, certain methods of data presentation, such as clear charts and graphs, make it much easier to convey important information and concepts to an audience, as compared to spreadsheets and reports.
This is especially important for large companies, which have access to large amounts of data, as their data may hold crucial information on the business and the market. By adopting standardised processes of data cleaning, structuring and transformation, businesses can create visualisations which improve business decisions and efficiency.


LITERATURE REVIEW


The selection of a suitable business intelligence (BI) analytics tool that fits the enterprise is critical to the success of any BI project of an organization. We visualize data for various purposes and these direct us to select and design visualization in particular ways that rely on software tools which support particular features. To simplify the process of the selection, we may classify the requirements based on their degree of necessity. Furthermore, there are also special considerations with regards to obtaining those specific features in a tool – the requirement of custom coding, purchase of an add-on product from third party or a special product edition. For this comparative study, the team will be basing their evaluation on this list of criteria in Table 1. While this may not be an exhaustive list of requirements for a visualization tool, it satisfies three main conditions that many, if not all, organizations require in their BI tool – ease of use, data connectivity, line-of-business fit.
Table 1: List of Visual BI Tool Criteria by Stephen Few
Category Requirement
1. Visualizations Useful charts and their features
2. Interaction Ways in which the information that you're viewing or the visualization that you're using to view it can be easily modified to see things differently
3. Multi-chart Displays Combining multiple charts on a single screen for simultaneous viewing
4. Statistical Calculations Built-in descriptive statistical functions
5. Speed of Response The time it takes for operations to complete once initiated
6. Data Access and Integration The ability to access data from all useful sources and to integrate data sets with ease
7. Output and Content Management Ways in which information can be delivered to others
8. Platform Options The devices on which the tool can be used
9. Ease of Learning and Use The ease with which analysts of various types can learn to use the product
10. Programmability The ability to easily and extensively customize and automate a particular set of analytical tasks for repeated use
11. Advanced Features Support for data mining, collaborations, audit trails, etc.


OUR WORK PLAN


Work plan.png
Retrieved from ‘https://wiki.smu.edu.sg/ANLY482/index.php?title=ANLY482_AY2017-18_T2_Group15_Project_Overview&oldid=24131’