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The document discusses how ShopSmart, a retail company, can utilize data analytics to enhance sales performance and customer satisfaction. It outlines four types of analytics: descriptive, diagnostic, predictive, and prescriptive, along with their applications in understanding sales trends, identifying causes of sales drops, forecasting future sales, and recommending actions. Additionally, it matches specific analytics tools to their most appropriate types, such as Tableau for descriptive analytics and Python with Scikit-learn for predictive analytics.

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nusman955
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7 views2 pages

Basil

The document discusses how ShopSmart, a retail company, can utilize data analytics to enhance sales performance and customer satisfaction. It outlines four types of analytics: descriptive, diagnostic, predictive, and prescriptive, along with their applications in understanding sales trends, identifying causes of sales drops, forecasting future sales, and recommending actions. Additionally, it matches specific analytics tools to their most appropriate types, such as Tableau for descriptive analytics and Python with Scikit-learn for predictive analytics.

Uploaded by

nusman955
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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NAME:

Basil haroon
Registration No:
2021f-mulbscs-25

Assignment: Using Data Analytics to Improve Business Performance –


ShopSmart Case Study

Scenario:
A retail company named ShopSmart wants to improve its sales performance and customer
satisfaction. The management team decides to leverage data analytics to make informed
decisions. They have access to historical sales data, customer feedback, inventory records,
and social media engagement metrics.

Question 1: Types of Analytics


1. Descriptive Analytics: Helps answer “What happened?” It summarizes historical data to
identify patterns and trends. For example, analyzing last year’s monthly sales or customer
satisfaction scores.

2. Diagnostic Analytics: Answers “Why did it happen?” It digs deeper into the data to find
the causes of certain events. For example, analyzing why sales dropped during a specific
quarter.

3. Predictive Analytics: Answers “What is likely to happen?” It uses historical data, machine
learning, and statistical algorithms to forecast future outcomes. For example, predicting
next month’s sales based on past trends.
4. Prescriptive Analytics: Answers “What should we do?” It suggests actions based on data
to achieve desired outcomes. For example, recommending product bundles or marketing
strategies to boost sales.

Question 2: Matching Goals with Analytics Types


Goal Most Appropriate Analytics Type

a) Understand overall sales trends over the Descriptive Analytics


last year.

b) Determine why sales dropped in the Diagnostic Analytics


winter quarter.

c) Forecast sales for the upcoming holiday Predictive Analytics


season.

d) Recommend the best combination of Prescriptive Analytics


products to bundle for promotions.

Question 3: Matching Tools to Analytics Types


Tool Best Suited Analytics Type

Tableau Descriptive Analytics

Excel Descriptive / Diagnostic Analytics

Python with Scikit-learn Predictive Analytics

IBM Watson Studio Predictive / Prescriptive Analytics

Power BI Descriptive / Diagnostic Analytics

Google Analytics Descriptive Analytics

Solver (Excel Add-in) Prescriptive Analytics

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