ANLY482 AY2016-17 T2 Group13 - Project Overview
Every year, the Department for International Trade (DIT) plans and reviews marketing campaigns that the UK should take to encourage British businesses to expand into Singapore. These campaigns are categorised into 16 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 BHC’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
