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MISY 261final Project Part 1

The document provides details on the final project part 1 for a wine distribution optimization analysis. It outlines the target audience of wine distributors, the objective to help them optimize their business, and how they can use the analysis for strategies like stocking popular varieties and adjusting pricing. It describes the two phases of the project: 1) data preparation by flagging important variables and 2) analysis of questions to identify trends like top varieties, highest rated wineries, average wine prices by country, and correlations between price/ratings and social media presence. The analysis aims to provide insights to distributors on inventory, partnerships, pricing, and marketing.

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56 views8 pages

MISY 261final Project Part 1

The document provides details on the final project part 1 for a wine distribution optimization analysis. It outlines the target audience of wine distributors, the objective to help them optimize their business, and how they can use the analysis for strategies like stocking popular varieties and adjusting pricing. It describes the two phases of the project: 1) data preparation by flagging important variables and 2) analysis of questions to identify trends like top varieties, highest rated wineries, average wine prices by country, and correlations between price/ratings and social media presence. The analysis aims to provide insights to distributors on inventory, partnerships, pricing, and marketing.

Uploaded by

donald clifford
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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MISY 261 Final Project Part 1 Your Name: Yi Zong___________________

Target Audience: Wine Distributors


Objective: Help wine distributors optimize their product offerings, pricing strategies, and distribution
channels.
How to Use the Analysis:
Wine distributors can use these insights to optimize their product portfolios, tailor marketing strategies,
and make informed decisions about pricing and distribution channels. For example, they can focus on
stocking popular varieties, adjust pricing based on regional preferences, and collaborate with high
performing wineries. The analysis also helps to inform adapting to change in marketing trends and gain a
competitive edge in the wine distribution industry.

Phase 1 – Data Preparation


1. Flag Variables
a. Explanation: Year – This is an important variable that we will obtain from the review
date column. This could be necessary to answer the question of trends over different time
periods.

Formula: =YEAR(B2)

b. Explanation: Popularity – This variable will be generated by counting the number of


reviews for each specific wine variety. This will help inform how popular a given wine
variety is.

Formula: =COUNTIF($L$2:$L$30001, L2)

c. Explanation: Twitter Handle – This variable will be necessary to determine which


taster has a social media presence and which one does not. We may leverage this variable
to try and check the effect of having a twitter handle on ratings.

Formula: =IF(K2 = 0, "No", "Yes")


2. Taster’s - =VLOOKUP(I2, Taster!A:B, 2, FALSE)
Taster’s twitter profile - =VLOOKUP(WineReviews!I2, Taster!A:C, 3, FALSE)
Variety - =VLOOKUP(WineReviews!L2, Variety!A:C, 2, FALSE)
Winery - =VLOOKUP(WineReviews!N2, Winery!A:C, 2, FALSE)
Phase 2 – Analysis
Question 1 : What are the top 5 most popular wine varieties in our dataset?
Objective: Identify the key varieties in demand to optimize inventory and procurement.

Total Number of Wine Reviews

Bordeaux-style Red
Blend

Red Blend

Total
Cabernet Sauvignon

Chardonnay

Pinot Noir

0 500 1000 1500 2000 2500 3000 3500

Answer:
 For this analysis, we are summing up the number of reviews for each specific wine variety. This
will in turn act as the popularity metric for our different wine varieties.
 Based on this, the most popular wine variety looks to be the Pinot Noir. My analysis above
provide the top five wine varieties.
 Based on the analysis, much focus should go to the above five wine varieties as they are the most
popular brands.
Question 2: What are the three top three wineries with the highest average points for their wines?

Objective: Provide insights into winery partnerships and highlight high performing products.

Answer:
 The winery with the highest average points is Château Haut-Brion with an average point of
96.5, closely followed closely by eight other wineries that are all tied on points at 96 each.
 It is therefore advisable to partner with the above wineries as these are the highest rated.
Question 3: What is the average price range for wines in each country?
Objective: Inform pricing strategies based on regional marketing dynamics.

Answer:
 Considering the analysis above, we can see that wine is most expensive in Switzerland, and the
lowest average price is in Ukraine. As such, this information can be leveraged when entering
these markets in order to gain more profits and more sales.
Question 4: Is there a correlation between the points a wine receives and its price? What is the
optimal price range for wines with high points?
Objective: Guide pricing decisions to maximize profitability and consumer satisfaction.

400

350

300

250
Average Price

200
Total
150

100

50

0
80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100

Points

Answer:
 Based on the analysis above, we can see that the lowest point of 80, also has the lowest average
price, that is, it is the cheapest. We can also see that as the points increase the price also increases
based on our graph.
 It is therefore safe to say that price directly co-relates to the points.
 We can also see that the most popular product is not necessarily the most expensive, and as such
that should be considered the optimal price for this product.
Question 5: Does a taster’s social media presence affect the Wine rating?

Objective: Determine whether to encourage social media participation of the wine tasters.

Answer:
 From the analysis, we can see that the wine tasters with the lowest average points are the ones
without social media presence according to our dataset. Moreover, they have the lowest number
of reviews.
 This should inform us that there is a noticeable effect to having a social media presence, and as
such wine tasters should be encouraged to have a social media presence and make use of it to
promote their respective products.
Question 6: Is there a correlation between the taster’s rating (average points) and the popularity of
a wine?
Objective: Evaluate the impact of a taster’s influence on consumer preferences and purchasing decisions.

Answer:
 From the analysis, we can see that tasters with the most reviews (most popular) also tend to have
higher reviews. As such, our data suggests that higher taster’s rating would also imply more
reviews and therefore more popularity.

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