A) CONTEXT

1. The emergence of Big Data

Ever since 1990, the word big data was present but since the last few years data has emerged and
made itself relevant. Every day the world generates around 2.6 exabytes of data and by the end of

2025, it is expected to increase by 465 exabytes.

Nowadays business leaders are aware of the fact that they must generate valuable data if they
want to stay ahead in the market and gain a competitive edge over other businesses. According to
research, around 95% of companies have implemented data initiatives in every department.
(Merceron, Blikstein and Siemens, 2016)

2. High Expectations

Business and IT leaders now know the true value of data sciences and this had led to high expec-
tations as through data valuable in-
sights can be cap- tured which will
increase the effec- tiveness of the or-
ganization and make it grow. The ex-
pectations are trans- formed into orga-
nizational objectives. The organiza-
tion's objectives have an impact on data
investments along with work produc-
tivity, security im- provements, and
decision-making abil- ities. (Nabavi, Ol-
son and Boyce, 2016)
3. DashBoard
There is a steady decline in the importance of dashboards and by 2025 analytics will be consumed
by data stories and by using augmented analytics methods, these stories can be easily generated.
Machine learning and Al are gaining popularity in the business intelligence world. Through data
stories, a user does not need to perform his own analysis and can generate insights without
it. (O’Neill and Brabazon, 2019)

4. CLOUD TRANSITIONS
Businesses are now transitioning from a public cloud to a cloud-based platform or application. The
transitioning is supported by an analytics solution. According to a study, 35% of the analytics tools
that are used are cloud-based. The cloud gives businesses the ability to perform tasks quickly and
easily analyze large chunks of data. (Shi, 2019)

DATA ANALYTICS ADD VALUE

It is proven that around 80% of the data is always unstructured thus this makes it challenging for
companies who aim to make use of data to make important business decisions. Data analytics pro-
vides businesses with evidence-based decision-making as data can be generated and analyzed
through different channels so further risks can be prevented. Other key values of data analytics
are, (Seddon, Constantinidis, Tamm and Dod, 2016)
 • Generate significant results from various data sources in a limited time.
• Summarise the entire findings and provide adequate data as inspiration for others.
• Effective visual arts by using graphs and tables so it is easier for others to grasp difficult
concepts.
• Provides in-depth knowledge about customers or products.

B) PLAN

BUSINESS ANALYTICS

Every business’s main goal is to provide quality products that add value to customer satisfaction.
Through business analytics, a business can measure the outcomes of its business deci-
sion. (Shmueli, Bruce, Gedeck and Patel, 2019)

Following are the reason for using business analytics to answer the business decision,
• It is an ideal approach for those companies who wish to cut costs and make their opera-
tions more sustainable. It maximizes all the costs of the business by generating valuable in-
sights about the customers or sales of the company. It also fosters innovative ideas about
the product and competitors.
• Business analytics can make use of data to make effective decisions to increase the busi-
ness’s efficiency, speed, and accuracy. It also helps the company in choosing effective key-
words.
• Business analytics provides companies with valuable and clear insights by using data visu-
alization. It is necessary to use comprehensive tables and graphs so information can be
easily grasped and results can be calculated.
• The employees working at the business can have easy access to all the data. For example
with easily accessible data, the sales group can be empowered with up-to-date information
while interacting with the consumers in the market. This will provide revenue opportunities
for the company as sales managers have data at their fingertips and they can easily moni-
tor the sales performances and implement effective strategies to improve it in the long run.
The sales managers can also easily monitor the performances of their sales group mem-
bers.
• Business analytics can help a company monitor and evaluate the results of campaigns by
providing valuable and real insights into the reaction of customers. A business can identify
the best selling campaign by using business analytics and make viable decisions according
to the result. A business can also allocate funds from the budget to the successful cam-
paign so higher ROI can be generated.
• Business analytics can employees analyze data about the consumers and the conditions of
the market, this will allow them to identify all the sales trends in the market. Employees
should study those changes and convert them into business opportunities so there is a
prominent improvement in the sales prediction of the employees.

C) ANALYSIS
Every busy should perform data cleaning activities as this can affect the overall performance of the
company.
Following steps can be taken to clean the data,

1. Finding Errors

One of the most critical tasks is keeping accurate records in businesses. It is important to maintain
records effectively and identify the trends of error that are being generated in the business. This
will make it easier for the employees to fix the data. To measure the outcome of a business deci-
sion, data should be scanned for all errors so it does not clog up all the previous work. (Aurora,
2018)

2. Improve The Data Entry Method

A business should improve its current data entry method and begin with accurate data in the first
place. Improving the data entry method will allow businesses to prevent duplication and bad
records. (Data, 2015)

3. Maintain Accuracy In The Data

The accuracy of the data can be maintained by properly cleaning the old database of the business.
Data can be easily cleaned when businesses will invest in data tools, which will also the business
to test the data for accurate results. (Delen, D. and Ram, S., 2018)

4. Remove Duplicate Data

If a business wants to save authentic-time while data is being analyzed, they should be able to
identify duplicates, Duplicates can be easily avoided if a business chooses to invest in data cleans-
ing tools and applications that can analyze raw data in the initial phase and easily automate the
further process for the business. (Edwards, 2017)

5. Monitor The Results

When the data is validated and standardized, it can be appended by making use of third-party
methods. Third-party methods allow the business to directly generate information from first-party
sources. Information from first-party sources is cleaned and compiled so a better picture is drawn
for the business intelligence. (Roe, 2013)

6. FeedBack Process

Through an effective feedback process, all the employees can benefit from it. Businesses need to
design a feedback process where employees can detect the source of incorrect information so
changes can be made in the business’s databases. For example, a feedback mechanism can be
built to identify all the undelivered incorrect email address so it is removed and updated form the
main database. (Turra, 2015)

ANALYTICAL TECHNIQUES

Following steps can be followed to support answering the business question,

1. Quantify The Business Question

According to an analytics perspective, business questions are not properly defined. Before apply-
ing the analytical techniques, it is important to quantify the business question and get it approved
by the higher authorities. The question can be quantified by identifying the problem. (BALTAGI, B.,
2021)

2. Create An Hypotheses

The data should be gathered and filtered out. Hypotheses should be generated from the quantified
business question. For example, how can we improve our marketing campaigning? We can hy-
pothesize the question by saying it can be done by adding more resources to the marketing depart-
ment. (Camm, J., Cochran, J., Fry, M. and Ohlmann, J., 2021)

3. Analysis Method

The next step is to test the above hypotheses by selecting an effective analytical method. It is im-
portant to study the action plan for the result. Analytical methods that can be effective in such sce-
narios would be A/B testing or predictive models.
A business is also required to answer those questions that are connected with the data that is
needed for further analysis. For example, how much data is required to apply the analytical
method. (Durcevic, S., 2020)

4. Data Preparation

After collecting the data, it is time to process the collected data. The existing data sources of the
company should be accessed, where all important information is stored inside the database or
cloud. Once the data is accessed, it is important to prepare the data for further analysis. Analytical
tools can be useful in such scenarios. (BALTAGI, B., 2021)

5. Perform The Analysis

The final dataset is ana-
lyzed so an- swers can be
generated for the business
question. The business will se-
lect the appro- priate analysis
method and tools for Tableau

or Jupyter for detailed statistical analysis. (Garg, A. and Goyal, D., 2019)

By providing the above analytical techniques, we can find out whether the campaign had a positive
impact on the sales performance of the business.

D) Conclusion
For all businesses, the main problem is not the lack of availability of
data but at times there is too much data available and it becomes a
challenge to make effective business decisions. (Hastie, T.,
Friedman, J. and Tisbshirani, R., 2017)
Analysis can be improved by implementing the following steps,
• It is important to start with an authentic question that should be
measurable with a clear context. Questions should be de-
signed in such a way that they could be qualified to generate
potential results.
• Analyze the measurable data in the business question, for ex-
ample in the provided business question the measurable data
is the sales performance.
• Measure the data by evaluating the key questions for example
about the time frame of the provided campaign or the unit of
measure.
• Learn the effectiveness of statistical methods, as statistics
have emphasized the importance of interpretability. A business
needs to understand the data and its principles. There is a
need to implement statistical methods to improve the analysis
method for example quantitative methods, decision analysis,
data management, data mining, heuristics, database princi-
ples, and big data analytics.
• Data analysis can be easily improved by having excelling few
programming languages. Programming languages support all
types of data and can provide visual dashboards to better un-
derstand the analysis. For example, one of the best program-
ming languages to master is Python as it can easily handle
huge chunks of data and provide an efficient analysis. It is eas-
ier to read and grasp the analysis of Python’s syntax and it has
the ability to design data charts and models.
• In the end the results of the analysis are presented to all the em-

ployees and stakeholders therefore it is important to visualize the

data so it can be easily understood. Data visualization tools like
High Charts or FineReport can be effective to showcase the anal-
ysis.

CONCERNS ABOUT THE ANALYSIS

Many concerns may impede the final interpretation of the data anal-
ysis. Often businesses are overwhelmed with the amount of data
that is being collected. This may be due to an old or worn-out data
system that is not able to automatically collect the data and filter it
out. As with the availability of high data, it is nearly impossible to
generate meaningful insights from it as it might not be fully analyzed
or is taking too much time as employees are forced to look over the
data manually. Outdated data can also negatively impact the busi-
ness decision and the data system. It is also difficult for some busi-
nesses to organize data that is gathered from various sources or
channels. Employees often lead the analysis in another direction
which can result in inaccurate analysis. This will prove that bad in-
put will not result in a favourable output result. (Kumar, V., 2020)

USE OF ADVANCED TECHNIQUES

Nowadays advanced techniques add value to the business and its
decision-making capabilities. Bangles can make use of advanced
techniques to analyze the effectiveness of the marketing campaign
in the UK market as through advanced techniques they can easily
predict the future. It will enable bangles to undertake data-driven
decisions and study the changes and trends in the market. When
bangles will implement advanced techniques like econometrics
analysis they can gain access to the UK marketing conditions and
react to those trends before the competitors. This will provide a sig-
nificant competitive edge to the company. Advanced techniques can
result in accurate analysis and predictions, which can help bangles
save costs and prevent taking risky business decisions. Advanced
techniques will provide bangles with a comprehensive understand-
ing of the business decision and how it should be managed. The
advanced technology can improve the business’s bottom line which
results in reduced cost and the business can generate even higher
revenues. This is because the use of advanced techniques can
have a positive impact on demand capacity management as valu-
able insights are added to the demand curve. Advanced techniques
also result from inaccurate forecasting across the value chain of the
business which will result in effective sales performance. The ad-
vantage of econometric analysis is that the person who forecasted
the results can compare the actual results with the forecasted re-
sults to gain valuable insights so the overall forecast model can be
improved. Through this method, all errors can be easily identified
and the future results can be improved. It can also be used to
analyze the relationship between variables and their causal rela-
tions. For example, the most basic model of econometrics is linear
regression, it can effectively interpret and analyse the results by
running the algorithms. For businesses like Bangles, they are seek-
ing to make more data-driven business decisions which can be
done through the usage of advanced analytics. (Matthews, 2017)

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