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50 views4 pages

Statement Student

Uploaded by

mittalayush0604
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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In-class activity

Management Information Systems

Decision-making:
A journey of sales improvement through data analysis
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Instructions:
1. Participants are required to submit the in-class activities on LMS on or before the deadline.
2. Participants are requested to answer all questions mentioned in the “4. Assignment Questions”
section.
3. The dataset for this activity will be provided.
4. Upload your file in docx or pdf format with the filename as “Roll_Number_Name.docx”. For
example, “M23BBBAU9999_DummyName.docx”
5. Write your Full Name, Roll No, and Section on the first page of the assignment sheet.
6. If required, participants can refer to the hints provided in the “5. Hints” section.
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1. Introduction
In the heart of Greater Noida, a mid-sized retail company named Bennett Essentials thrived amid
growing competition. Bennett Essentials specializes in a diverse range of products, including
electronics, furniture, and apparel. Despite its solid market presence, the company faced a common
challenge: how to boost sales and improve profitability in a rapidly evolving retail landscape.
To address these challenges, Bennett Essentials decided to harness the power of data analysis. The
management team recognized that understanding customer behavior, regional sales trends, product
preferences, and marketing effectiveness could provide valuable insights into their operations. They
believed that informed decision-making, driven by empirical data, was the key to unlocking the
company's growth potential.

2. Data collection
As the retail landscape became increasingly competitive, Bennett Essentials found it crucial to
understand its past performance thoroughly. The company had gathered extensive data over the years,
including sales figures, customer demographics, marketing costs, and product categories. However,
this data was sitting dormant, lacking the analysis needed to translate numbers into actionable insights.
The management team convened a meeting, highlighting their goals:

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 Boosting Sales: Identify trends and patterns that could lead to increased revenue.
 Understanding Regions: Determine which geographical areas performed well and which were
lagging.
 Product Preferences: Recognize which products were popular among customers and why.
 Customer Segmentation: Analyze customer demographics to tailor marketing efforts
effectively.
 Improving Marketing Efforts: Assess the efficiency of current marketing strategies to
enhance their effectiveness.
 Optimizing Operational Efficiency: Explore ways to streamline operations and reduce costs.
With these objectives in mind, Bennett Essentials assigned a team of data analysts to uncover insights
from complex datasets by delving deep into the company’s historical data and derive actionable
strategies for growth.

3. Exploratory data analysis


The first step is to gather and clean the data collected over the years. The data set included sales
records, customer information, product categories, marketing expenditures, and order details. It is
crucial to ensure that the data is accurate, complete, and free from inconsistencies to provide a solid
foundation for analysis.
Once the data is prepared, the data analysis team began their analysis, focusing on several key areas:

3.1. Sales Performance Analysis


The team examined total sales figures over the past few years, breaking them down by product
category, region, and time frame. They created charts and graphs to visualize the trends, identifying
peak sales seasons and underperforming periods.

3.2. Regional Sales Trends


Understanding sales performance by region was essential for determining where the company should
concentrate its marketing efforts. The analysts plotted total sales against geographical locations,
revealing regions that consistently performed well and those that lagged behind.

3.3. Product Preferences


By analyzing sales data for different product categories, the team aimed to uncover which products
were driving revenue. They looked into factors such as product pricing, marketing campaigns, and
customer feedback to gain a comprehensive understanding of customer preferences.

3.4. Customer Segmentation


The team segmented customers based on demographics such as age, location, and purchasing behavior.
They developed profiles for different customer groups, allowing Bennett Essentials to tailor its
marketing strategies effectively. Understanding which segments contributed the most to sales helped
the company refine its focus.

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3.5. Marketing Effectiveness
The analysts evaluated the effectiveness of past marketing campaigns by comparing marketing
expenses against sales revenue generated. They identified which campaigns yielded the best return on
investment (ROI) and which ones fell short.

3.6. Operational Efficiency


Finally, the team explored operational metrics to identify areas where costs could be reduced without
sacrificing quality. They assessed supply chain efficiency, inventory management, and workforce
allocation.

4. Assignment Questions
4.1. Sales by Region
Task 1: Calculate total sales and profit for each region and identify the best and worst-performing
regions.
Task 2: Chart Type:
- Bar Chart: A bar chart comparing total sales and profits for each region.
- Pie Chart: A pie chart showing the percentage contribution of each region to the total sales.

4.2. Customer Segment Analysis:


Task 1: Analyze sales from different customer age groups (Young 18-25, Adult 26-40, Senior 41+).
Task 2: Chart Type:
- Column Chart: Comparing sales of different age groups.
- Box Plot: Visualizing the distribution of sales values for each age group.

4.3. Sales Channel Efficiency:


Task 1: Compare sales and profitability of online versus in-store sales.
Task 2: TaskChart Type:
- Side-by-Side Bar Chart: Comparing sales and profits for Online and In-store channels.
- Pie Chart: Showing the proportion of sales from Online vs In-store.

4.4. Marketing Cost Efficiency:


Task 1: Calculate marketing cost as a percentage of sales and identify areas for cost optimization.
Task 2: Chart Type:
- Scatter Plot: Visualizing the relationship between marketing cost and sales for each order.
- Line Chart: Showing the trend of marketing cost as a percentage of sales over time.

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4.5. Profit Margin Analysis:
Task 1: Calculate the profit margin for each product (Profit/Sales) and analyze which products or
categories are most profitable.
Task 2: Chart Type:
- Heatmap: Showing profit margins for different products or product categories.
- Bar Chart: Displaying the average profit margin for each category.

4.6. Decision-Making Questions:


Task: Based on the above analysis, what decisions should the company make regarding:
- Which regions need more attention or investment?
- Should we focus on certain product categories?
- How to optimize marketing spending?
- Should we prioritize online or in-store sales?

5. Hints: To draw charts


5.1. Bar Chart for Sales by Region:
- X-axis: Regions (North, South, East, West)
- Y-axis: Sales and Profit values
- Each bar represents sales or profit in a region, color-coded for clarity.

5.2. Pie Chart for Sales Channels:


- Two pie charts: One for sales and one for profits, comparing Online vs In-store channels.
- Segments show the percentage of contribution made by each channel.

5.3. Scatter Plot for Marketing Cost Efficiency:


- X-axis: Sales (₹)
- Y-axis: Marketing Cost (₹)
- Each point represents an order, showing the correlation between marketing expenditure and sales.

5.4. Heatmap for Profit Margin:


- X-axis: Products
- Y-axis: Profit Margins (%)
- Color intensity represents the profit margin, with darker colors indicating higher margins.

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