IIM FBDA Assignment-1

Fundamentals of business analytics use case assignment

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IIM FBDA Assignment-1

Fundamentals of business analytics use case assignment

Uploaded by

luckysharma201995

Available Formats

Download as DOCX, PDF, TXT or read online on Scribd

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Comprehensive Business Analytics for

Retail Sales Data

1. Context
In today's data-driven world, businesses are leveraging analytics to drive decision-making and
gain competitive advantages. This assignment focuses on applying Business Analytics principles
to retail sales data to demonstrate how different analytical techniques can be used to
understand and improve business performance.

2. Content
The assignment covers the following practical topics:

 Correlation Analysis
 Time Series Analysis
 Regression Analysis
 Hands-on: Implement Descriptive Analytics Dashboard using MS Excel
 Hands-on: Implementing Diagnostic Analytics using MS Excel for Sales Dataset
 Predictive Modeling: Linear Regression, Time Series Forecasting
 Hands-on: Implement Time Series Forecasting using MS Excel
 Hands-on: Implement Predictive Modeling with MS Excel
 Activity: Define enterprise data architecture for sales data processing
 Hands-on: Using ChatGPT to create project flow and assess data requirements

3. Data Description
We will use the 'Superstore Sales' dataset from Kaggle, which contains sales data for a retail
superstore. The dataset includes information on order dates, sales amounts, product categories,
customer segments, and other relevant variables.

Dataset Link: https://www.kaggle.com/datasets/vivek468/superstore-dataset-final

4. Objective
The objective of this assignment is to provide students with a comprehensive understanding of
Business Analytics through practical application on a real-world dataset. Students will learn to
apply various analytical techniques to extract insights, identify trends, and make data-driven
decisions. By the end of the assignment, students should be able to:

 Understand and apply correlation analysis, time series analysis, and regression analysis.
 Implement diagnostic and predictive modeling techniques using MS Excel.
 Develop descriptive analytics dashboards and perform hypothesis testing.
 Understand data generation, ingestion, retrieval, and ETL processes.
 Use ChatGPT to plan and structure Business Analytics use cases and create project
flows.
 Define enterprise data architecture for sales data processing and create Business
Analytics plans.

5. Tasks

Task 1: Correlation Analysis

 Perform correlation analysis on the superstore sales dataset to identify relationships
between different variables.
 Use MS Excel to calculate correlation coefficients and create correlation matrices.

Task 2: Time Series Analysis

 Conduct time series analysis on the sales data to identify trends and seasonal patterns.
 Use MS Excel to create time series plots and analyze the results.

Task 3: Regression Analysis

 Implement linear regression analysis to understand the impact of various factors on
sales.
 Use MS Excel to perform regression analysis and interpret the results.

Task 4: Descriptive Analytics Dashboard

 Create a descriptive analytics dashboard using MS Excel to visualize key sales metrics.
 Include charts and graphs to represent sales trends, product performance, and
customer segments.

Task 5: Diagnostic Analytics Techniques

 Understand and apply diagnostic analytics techniques such as hypothesis testing,
ANOVA, and Chi-square analytics.
 Use MS Excel to perform these analyses on the sales dataset.

Task 6: Predictive Modeling

 Implement predictive modeling techniques such as linear regression and time series
forecasting using MS Excel.
 Use the models to forecast future sales and interpret the results.

Task 7: Enterprise Data Architecture

 Define an enterprise data architecture for processing sales data in a retail business.
 Outline the data flow, storage, and processing components required.
Task 8: Using ChatGPT for Business Analytics
 Use ChatGPT to plan and structure a Business Analytics use case.
 Create a project flow and assess data requirements using ChatGPT.