Difference between revisions of "ANLY482 AY2017-18 Group9: Project Overview"
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==<div style="background: #40403E; line-height: 0.3em; font-family:helvetica; border-left: #FFA500 solid 15px;"><div style="border-left: #FFFFFF solid 5px; padding:15px;font-size:15px;"><font color= "#F2F1EF"><strong>PROJECT BACKGROUND</strong></font></div></div>== | ==<div style="background: #40403E; line-height: 0.3em; font-family:helvetica; border-left: #FFA500 solid 15px;"><div style="border-left: #FFFFFF solid 5px; padding:15px;font-size:15px;"><font color= "#F2F1EF"><strong>PROJECT BACKGROUND</strong></font></div></div>== | ||
| − | < | + | <p align="justify">With the increasing number of outlets in Singapore, coupled with the extensive menu of drinks at KOI, these resulted in logistics issues in KOI's daily operations. Employees from each of its outlet are required to manually order their required stock for next-day delivery. As such, Koi are facing problems such as their employees might under or over order for the next day. To decide on the amount of required stock for the next-day delivery, employees are required to estimate the next day sales at the same time consider the shop storage limits. Additionally, the employees should be aware of any special promotions that will be held or any events that |
| − | + | is happening around their outlet as it might affect their next-day sales. Overall, it has led to a steep learning curve for the new employees. <br><br> | |
| − | + | Secondly, upon discussion with our sponsor, we understand the majority KOI customer base makes up of students and the younger crowd. Henceforth, our team will be making us of public statistics data such as the demographics living near the KOI outlet, number of schools (primary/secondary/polytechnic) around the area, and determine if there are any high correlation between these factors and sales. This analysis could potentially help KOI identify what are the potential next viable location to open their new outlet, and to understand more | |
| − | + | about their customer base in the area. <br><br> | |
| + | Furthermore, there are many competitors that posed significant threats. Primary competitors include Gong Cha, Share Tea and secondary competitors include local neighborhood drink stalls, Boost or Starbucks. These competitors pose as a threat as customer can choose to purchase drinks from them especially in the event of promotions held. For instance, Starbucks 1-for-1 drink promotion may affect the number of people purchasing KOI on that day in the same area. Competitors promotion are important for KOI to strategize themselves and to improve their overall brand positioning. <br><br> | ||
| + | Lastly, KOI often hold promotional events that help to boost their sales revenue and brand reputation. Currently, there are significant difficulty in determining the effectiveness of such promotional campaigns. Furthermore, it is important for KOI to hold such promotional campaigns at the right time to maximize their sales profit. | ||
| + | </p> | ||
<br> | <br> | ||
==<div style="background: #40403E; line-height: 0.3em; font-family:helvetica; border-left: #FFA500 solid 15px;"><div style="border-left: #FFFFFF solid 5px; padding:15px;font-size:15px;"><font color= "#F2F1EF"><strong>PROJECT MOTIVATION</strong></font></div></div>== | ==<div style="background: #40403E; line-height: 0.3em; font-family:helvetica; border-left: #FFA500 solid 15px;"><div style="border-left: #FFFFFF solid 5px; padding:15px;font-size:15px;"><font color= "#F2F1EF"><strong>PROJECT MOTIVATION</strong></font></div></div>== | ||
| − | <p align="justify">Through our past internship, it gave us an insight of how can we utilize big data to its full potential for better decision-making and solving business problems in most industries. Such industries that we worked on before includes Security, Transport, Storage Solutions and Hospitality and Tourism. We understand the potential value analytics brings to the firm in all industries if harnessed properly. Therefore, being a consumer and not having any exposure in the consumer's industry. We will like to take this opportunity to challenge ourselves to analyse data that is in an unfamiliar domain. | + | <p align="justify">Through our past internship, it gave us an insight of how can we utilize big data to its full potential for better decision-making and solving business problems in most industries. Such industries that we worked on before includes Security, Transport, Storage Solutions and Hospitality and Tourism. We understand the potential value analytics brings to the firm in all industries if harnessed properly. Therefore, being a consumer and not having any exposure in the consumer's industry. We will like to take this opportunity to challenge ourselves to analyse data that is in an unfamiliar domain. </p> |
<br> | <br> | ||
==<div style="background: #40403E; line-height: 0.3em; font-family:helvetica; border-left: #FFA500 solid 15px;"><div style="border-left: #FFFFFF solid 5px; padding:15px;font-size:15px;"><font color= "#F2F1EF"><strong>PROJECT OBJECTIVES</strong></font></div></div>== | ==<div style="background: #40403E; line-height: 0.3em; font-family:helvetica; border-left: #FFA500 solid 15px;"><div style="border-left: #FFFFFF solid 5px; padding:15px;font-size:15px;"><font color= "#F2F1EF"><strong>PROJECT OBJECTIVES</strong></font></div></div>== | ||
| − | + | By utilizing the data from their current database, we wish to discover meaningful and informative insights which will allow KOI employees to make better decision in doing stock ordering, and thus remove the steep learning curves for their new employees. Further on, we wish to explore different factors that could impact KOI sales (i.e. demographics of people living in the area, schools around the area). | |
<br> | <br> | ||
==<div style="background: #40403E; line-height: 0.3em; font-family:helvetica; border-left: #FFA500 solid 15px;"><div style="border-left: #FFFFFF solid 5px; padding:15px;font-size:15px;"><font color= "#F2F1EF"><strong>STAKEHOLDERS</strong></font></div></div>== | ==<div style="background: #40403E; line-height: 0.3em; font-family:helvetica; border-left: #FFA500 solid 15px;"><div style="border-left: #FFFFFF solid 5px; padding:15px;font-size:15px;"><font color= "#F2F1EF"><strong>STAKEHOLDERS</strong></font></div></div>== | ||
Latest revision as of 21:52, 14 January 2018
PROJECT BACKGROUND
With the increasing number of outlets in Singapore, coupled with the extensive menu of drinks at KOI, these resulted in logistics issues in KOI's daily operations. Employees from each of its outlet are required to manually order their required stock for next-day delivery. As such, Koi are facing problems such as their employees might under or over order for the next day. To decide on the amount of required stock for the next-day delivery, employees are required to estimate the next day sales at the same time consider the shop storage limits. Additionally, the employees should be aware of any special promotions that will be held or any events that
is happening around their outlet as it might affect their next-day sales. Overall, it has led to a steep learning curve for the new employees.
Secondly, upon discussion with our sponsor, we understand the majority KOI customer base makes up of students and the younger crowd. Henceforth, our team will be making us of public statistics data such as the demographics living near the KOI outlet, number of schools (primary/secondary/polytechnic) around the area, and determine if there are any high correlation between these factors and sales. This analysis could potentially help KOI identify what are the potential next viable location to open their new outlet, and to understand more
about their customer base in the area.
Furthermore, there are many competitors that posed significant threats. Primary competitors include Gong Cha, Share Tea and secondary competitors include local neighborhood drink stalls, Boost or Starbucks. These competitors pose as a threat as customer can choose to purchase drinks from them especially in the event of promotions held. For instance, Starbucks 1-for-1 drink promotion may affect the number of people purchasing KOI on that day in the same area. Competitors promotion are important for KOI to strategize themselves and to improve their overall brand positioning.
Lastly, KOI often hold promotional events that help to boost their sales revenue and brand reputation. Currently, there are significant difficulty in determining the effectiveness of such promotional campaigns. Furthermore, it is important for KOI to hold such promotional campaigns at the right time to maximize their sales profit.
PROJECT MOTIVATION
Through our past internship, it gave us an insight of how can we utilize big data to its full potential for better decision-making and solving business problems in most industries. Such industries that we worked on before includes Security, Transport, Storage Solutions and Hospitality and Tourism. We understand the potential value analytics brings to the firm in all industries if harnessed properly. Therefore, being a consumer and not having any exposure in the consumer's industry. We will like to take this opportunity to challenge ourselves to analyse data that is in an unfamiliar domain.
PROJECT OBJECTIVES
By utilizing the data from their current database, we wish to discover meaningful and informative insights which will allow KOI employees to make better decision in doing stock ordering, and thus remove the steep learning curves for their new employees. Further on, we wish to explore different factors that could impact KOI sales (i.e. demographics of people living in the area, schools around the area).
STAKEHOLDERS
Project Supervisor: Prof Kam Tin Seong, Associate Professor of Information Systems; Senior Advisor, SIS (Programme in Analytics)
Project Sponsor: Kyle Huang and Joshua Wong, Project Management Office, KOI THÉ Singapore Pte. Ltd
