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4 Examples of Business Analytics in Action

15 Jan 2019

Data is a valuable resource in today’s ever-changing marketplace. For business professionals, knowing how to interpret and communicate data is an indispensable skill that can inform sound decision-making.

“The ability to bring data-driven insights into decision-making is extremely powerful—all the more so given all the companies that can’t hire enough people who have these capabilities,” says Harvard Business School Professor Jan Hammond , who teaches the online course Business Analytics . “It’s the way the world is going.”

Before taking a look at how some companies are harnessing the power of data, it’s important to have a baseline understanding of what the term “business analytics” means.

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What Is Business Analytics?

Business analytics is the use of math and statistics to collect, analyze, and interpret data to make better business decisions.

There are four key types of business analytics: descriptive, predictive, diagnostic, and prescriptive. Descriptive analytics is the interpretation of historical data to identify trends and patterns, while predictive analytics centers on taking that information and using it to forecast future outcomes. Diagnostic analytics can be used to identify the root cause of a problem. In the case of prescriptive analytics , testing and other techniques are employed to determine which outcome will yield the best result in a given scenario.

Related : 4 Types of Data Analytics to Improve Decision-Making

Across industries, these data-driven approaches have been employed by professionals to make informed business decisions and attain organizational success.

Check out the video below to learn more about business analytics, and subscribe to our YouTube channel for more explainer content!

Business Analytics vs. Data Science

It’s important to highlight the difference between business analytics and data science . While both processes use big data to solve business problems they’re separate fields.

The main goal of business analytics is to extract meaningful insights from data to guide organizational decisions, while data science is focused on turning raw data into meaningful conclusions through using algorithms and statistical models. Business analysts participate in tasks such as budgeting, forecasting, and product development, while data scientists focus on data wrangling , programming, and statistical modeling.

While they consist of different functions and processes, business analytics and data science are both vital to today’s organizations. Here are four examples of how organizations are using business analytics to their benefit.

Business Analytics | Become a data-driven leader | Learn More

Business Analytics Examples

According to a recent survey by McKinsey , an increasing share of organizations report using analytics to generate growth. Here’s a look at how four companies are aligning with that trend and applying data insights to their decision-making processes.

1. Improving Productivity and Collaboration at Microsoft

At technology giant Microsoft , collaboration is key to a productive, innovative work environment. Following a 2015 move of its engineering group's offices, the company sought to understand how fostering face-to-face interactions among staff could boost employee performance and save money.

Microsoft’s Workplace Analytics team hypothesized that moving the 1,200-person group from five buildings to four could improve collaboration by increasing the number of employees per building and reducing the distance that staff needed to travel for meetings. This assumption was partially based on an earlier study by Microsoft , which found that people are more likely to collaborate when they’re more closely located to one another.

In an article for the Harvard Business Review , the company’s analytics team shared the outcomes they observed as a result of the relocation. Through looking at metadata attached to employee calendars, the team found that the move resulted in a 46 percent decrease in meeting travel time. This translated into a combined 100 hours saved per week across all relocated staff members and an estimated savings of $520,000 per year in employee time.

The results also showed that teams were meeting more often due to being in closer proximity, with the average number of weekly meetings per person increasing from 14 to 18. In addition, the average duration of meetings slightly declined, from 0.85 hours to 0.77 hours. These findings signaled that the relocation both improved collaboration among employees and increased operational efficiency.

For Microsoft, the insights gleaned from this analysis underscored the importance of in-person interactions and helped the company understand how thoughtful planning of employee workspaces could lead to significant time and cost savings.

2. Enhancing Customer Support at Uber

Ensuring a quality user experience is a top priority for ride-hailing company Uber. To streamline its customer service capabilities, the company developed a Customer Obsession Ticket Assistant (COTA) in early 2018—a tool that uses machine learning and natural language processing to help agents improve their speed and accuracy when responding to support tickets.

COTA’s implementation delivered positive results. The tool reduced ticket resolution time by 10 percent, and its success prompted the Uber Engineering team to explore how it could be improved.

For the second iteration of the product, COTA v2, the team focused on integrating a deep learning architecture that could scale as the company grew. Before rolling out the update, Uber turned to A/B testing —a method of comparing the outcomes of two different choices (in this case, COTA v1 and COTA v2)—to validate the upgraded tool’s performance.

Preceding the A/B test was an A/A test, during which both a control group and a treatment group used the first version of COTA for one week. The treatment group was then given access to COTA v2 to kick off the A/B testing phase, which lasted for one month.

At the conclusion of testing, it was found that there was a nearly seven percent relative reduction in average handle time per ticket for the treatment group during the A/B phase, indicating that the use of COTA v2 led to faster service and more accurate resolution recommendations. The results also showed that customer satisfaction scores slightly improved as a result of using COTA v2.

With the use of A/B testing, Uber determined that implementing COTA v2 would not only improve customer service, but save millions of dollars by streamlining its ticket resolution process.

Related : How to Analyze a Dataset: 6 Steps

3. Forecasting Orders and Recipes at Blue Apron

For meal kit delivery service Blue Apron, understanding customer behavior and preferences is vitally important to its success. Each week, the company presents subscribers with a fixed menu of meals available for purchase and employs predictive analytics to forecast demand , with the aim of using data to avoid product spoilage and fulfill orders.

To arrive at these predictions, Blue Apron uses algorithms that take several variables into account, which typically fall into three categories: customer-related features, recipe-related features, and seasonality features. Customer-related features describe historical data that depicts a given user’s order frequency, while recipe-related features focus on a subscriber’s past recipe preferences, allowing the company to infer which upcoming meals they’re likely to order. In the case of seasonality features, purchasing patterns are examined to determine when order rates may be higher or lower, depending on the time of year.

Through regression analysis—a statistical method used to examine the relationship between variables—Blue Apron’s engineering team has successfully measured the precision of its forecasting models. The team reports that, overall, the root-mean-square error—the difference between predicted and observed values—of their projection of future orders is consistently less than six percent, indicating a high level of forecasting accuracy.

By employing predictive analytics to better understand customers, Blue Apron has improved its user experience, identified how subscriber tastes change over time, and recognized how shifting preferences are impacted by recipe offerings.

Related : 5 Business Analytics Skills for Professionals

4. Targeting Consumers at PepsiCo

Consumers are crucial to the success of multinational food and beverage company PepsiCo. The company supplies retailers in more than 200 countries worldwide , serving a billion customers every day. To ensure the right quantities and types of products are available to consumers in certain locations, PepsiCo uses big data and predictive analytics.

PepsiCo created a cloud-based data and analytics platform called Pep Worx to make more informed decisions regarding product merchandising. With Pep Worx, the company identifies shoppers in the United States who are likely to be highly interested in a specific PepsiCo brand or product.

For example, Pep Worx enabled PepsiCo to distinguish 24 million households from its dataset of 110 million US households that would be most likely to be interested in Quaker Overnight Oats. The company then identified specific retailers that these households might shop at and targeted their unique audiences. Ultimately, these customers drove 80 percent of the product’s sales growth in its first 12 months after launch.

PepsiCo’s analysis of consumer data is a prime example of how data-driven decision-making can help today’s organizations maximize profits.

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Developing a Data Mindset

As these companies illustrate, analytics can be a powerful tool for organizations seeking to grow and improve their services and operations. At the individual level, a deep understanding of data can not only lead to better decision-making, but career advancement and recognition in the workplace.

“Using data analytics is a very effective way to have influence in an organization,” Hammond says . “If you’re able to go into a meeting, and other people have opinions, but you have data to support your arguments and your recommendations, you’re going to be influential.”

Do you want to leverage the power of data within your organization? Explore Business Analytics —one of our online business essentials courses —to learn how to use data analysis to solve business problems.

This post was updated on March 24, 2023. It was originally published on January 15, 2019.

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15 Business Analyst Project Ideas and Examples for Practice

Explore business analyst real time projects examples curated for aspiring business analysts that will help them start their professional careers.

Your search for business analyst project examples ends here. This blog contains sample projects for business analyst beginners and professionals. So, continue reading this blog to know more about different business analyst projects ideas.

Business analysts are the demand of the twenty-first century! One can easily affirm this by looking at a report by the U.S. Bureau of Labor Statistics, which has revealed that as of May 2020, the median annual salary received by management analysts is $87,660. The bureau’s report also suggests that we are likely to witness an increase in the jobs of management analysts by 11% between 2019 and 2029. The rate is pretty higher than the average for other occupations. Additionally, the bureau mentioned that there is likely to be intense competition for such jobs because the role offers handsome salaries.

Avocado Machine Learning Project Python for Price Prediction

Downloadable solution code | Explanatory videos | Tech Support

The role of a business analyst primarily deals with analysing the growth of a business and suggesting methods to improve the existing strategies. Thus, to play such a crucial, one needs to possess a robust set of skills. Let us discuss a few of these to give you a more clear understanding of the skills required to become a business analyst .

Excellent verbal and written communication.

Communicate with different stakeholders and hold different meetings.

Up-to-date knowledge of new technologies and methodologies.

The capability of learning different business processes.

Ability to layout different ways of improving business growth.

Strong time management skills.

Understanding of various analytical tools and their implementation in revealing insights about the business.

Host different workshops and training sessions.

Knowledge of writing formal reports.

Having motivated you with our introduction of this blog, we now present business analyst sample projects that you can try to test/enhance your skills.

Business analyst practice projects for beginners, business analyst real-time projects for intermediate professionals, advanced business analyst projects examples , top 15 business analyst project ideas for practice.

This section has beginner-friendly projects for business analyst roles that newbies in this domain can start with.

ProjectPro Free Projects on Big Data and Data Science

1) Market Basket Analysis

Have you heard of the Beer-and-diapers story? In 2016, Mark Madsen, a research analyst, asked if there is a correlation between the sales of diapers and beers? It turned out that when a few stores placed beers closer to the diapers section, the beer sales went up. This strategy did not work for all the stores, but for a few, it did. By reflecting on this story, we want you to understand how important it is for a business to analyse the correlation between different purchased products, also called Market Basket Analysis.

Project Idea: In this project, you will work on a retail store’s data and learn how to realize the association between different products. Additionally, you will learn how to implement Apriori and Fpgrowth algorithms over the given dataset. You will also compare the two algorithms to understand the differences between them.

Source Code: Market basket analysis using apriori and fpgrowth algorithm

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2) Estimating Retail Prices

For any product-selling business, deciding the price of their product is one of the most crucial decisions to make. And, thus for an aspiring business analyst, it becomes essential to understand what factors influence the decision-making process of product prices.

Project Idea: Mercari is a community-driven electronics-shopping application in Japan. In this project, you will build an automated price recommendation system using Mercari’s dataset to suggest prices to their sellers for different products based on the information collected. You will learn how to use Exploratory Data Analysis (EDA) tools and implement different machine learning algorithms like Neural Networks, Support Vector Machines, and Random Forest in R programming language. If you are specifically looking for business analyst finance planning projects for beginners , this project will be a good start.

Source Code: Machine learning for Retail Price Recommendation with R

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3) Analyzing Customer Feedback

Collecting feedback from customers has become a norm for most companies. It provides them with the user’s perspective and guides them on what changes they should make to their product to increase its sales. Additionally, if the product reviews are public, potential customers feel motivated to trust the genuineness of the seller.

Project Idea: This project deals with the analysis of reviews of products available on an eCommerce website. You will work on textual data and implement data pre-processing methods like Gibberish Detection, Language Detection, Spelling Correction, and Profanity Detection. You will learn how to use the Random Forest model for ranking different reviews. Furthermore, you will explore the method of extracting sentiments and subjectivity from the reviews.

Source Code: Ecommerce product reviews - Pairwise ranking and sentiment analysis

Recommended Reading: How to learn NLP from scratch in 2021?

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4) Predicting Avocado Prices

Did you know that more than 3 million new photos of avocado toasts were uploaded to Instagram every day in 2107? As per the British Vogue Magazine , this is indeed true. No doubt that so many of us enjoy avocado toasts in our breakfast. If you are also one of such people, this project idea will keep you hooked as it is all about avocados.

Project Idea: In this project, you will learn how a business analyst can use data analysis methods and help promote the growth of a business. You will work on the dataset of a Mexican-based company and layout an Avocado-price-map for them as they plan to expand their reach to different regions in the US. You will be testing the implementation of various models like the Adaboost Regressor, ARIMA time series model, and Facebook Prophet model to predict the Avocado prices.

Source Code: Avocado Price Prediction

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5) Predicting the Fate of a Loan Application

Those interested in banking projects for business analysts will indeed consider this one their favorite from this section as this project deals with loans. For understanding banks’ business model, it is crucial to learn the whole process of approving a loan application.

Project Idea: In this project, you will explore the different factors that influence the eligibility of a loan application’s approval. You will utilise different machine learning algorithms for predicting the chances of success of a loan application. This project will also help you learn about various statistical metrics used widely by business analysts like ROC curve, Gradient boosting, MCC Scorer, Synthetic Minority Over-sampling Technique, and XGBoost.

Source Code: Loan Eligibility Prediction

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6) Predicting Customer Churn Rate

When customers start declining at an unexpected rate, various stakeholders go to business analysts for guidance. It is indeed one of the critical responsibilities of a business analyst to check the rate of customers churning out.

Project Idea: This project will guide you about performing univariate and bivariate analysis on the given dataset of a bank. You will learn how different statistical methods like SHAP (SHapley Additive exPlanations), RandomSearch, GridSearch, etc. should be used and interpreted. This project is another instance of a banking project for business analysts . So, if that’s your bias in sample business analysis projects , do check this one out. Source Code: Customer Churn Prediction

7) Prediction of Selling Price for different Products

You must have noticed a few brands sometimes send their loyal customers' coupon codes to attract them. These coupons are often customized according to their purchase history with the brand and thus the offer varies from customer to customer.

Project Idea: In this project, you will work on the dataset of a retail company to estimate the price at which a customer is likely to buy a specific product. Once that is complete, you will use your estimation to design offers for different customers. For the solution, you will use machine learning algorithms like Gradient Boosting Machines (GBM), XGBoost, Random Forest, and Neural Networks and use different metrics to test each of their performances.

You can add this project under the heading of business analyst finance projects on your resume to highlight the diversity of your skillset.

Source Code : Predict purchase amount of customers against various products

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8) Store Sales Prediction

In most firms, investors are usually external stakeholders that are not directly involved in the firm’s business but are definitely affected by it. And, it is the business analyst’s responsibility to keep the investors up-to-date with the existing and expected growth of the firm’s business model.

Project Idea: In this project, you will work on the dataset of 45 stores of the famous Walmart store chain. The goal is to predict the sales and revenue of different stores based on historical data. You will work with numeric and categorical feature variables and perform univariate & bivariate analysis to find the redundancy in variables. Additionally, you will learn the implementation of the ARIMA time series model and other machine learning models.

Source Code: Walmart Store Sales Forecasting

9) Analyzing Customer Churn

It's the customer who pays the wages. --Henry Ford

Customer churn is painful for all the stakeholders in a company. A business analyst must thus look for ways in which the customer churn rate can be minimised. Additionally, they have to identify the cause behind customer churn to improving business growth. Having a fair idea of which customer is likely to churn out will help a business analyst develop better strategies.

Project Idea: In this project, you will be introduced to one of the popular classification machine learning algorithms , logistic regression. The goal is to use logistic regression for estimating the chances of churn for each customer. Through this project, you will get to explore different statistical methods, including confusion metric, recall, accuracy, precision, f1-score, AUC, and ROC.

Source Code: Churn Analysis for Streaming App using Logistic Regression

10) Estimating Future Inventory Demand

While inventory management does not directly fall in the bucket of a business analyst’s responsibilities, one may still find it there as inventory demand directly impacts several other aspects of a business including sales, marketing , finance, etc. With so many advancements taking place in the IT industry, a business analyst can easily use various tools to forecast the inventory demand. Project Idea: Through this project, you will explore the application of various machine learning models, including Bagging, Boosting, XGBoost, GBM, light GBM, and SVM for predicting the inventory demand of a bakery. This project will also introduce you to the implementation of autoML/H 2 0 and LSTM models.

Source Code: Inventory Demand Forecasting using Machine Learning in R

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11) Predicting Coupon Sales

In the previous section, we mentioned a project that will help you in creating customised coupons for a business’s customers. The next step will be to keep track of which coupons have been purchased. This will further help in understanding customer behaviour and preferences.

Project Idea: In this project, you will work on the dataset of one of Japan’s famous joint coupon websites, Recruit Ponpare. The goal is to estimate which coupons a customer is likely to buy based on their previous purchases and browsing behaviour on the website. You will use different graphical methods to visualise the data and various methods of handling missing values in a dataset. You will evaluate the cosine similarities of coupons and users and use them to make the desired predictions.

Source Code: Build a Coupon Purchase Prediction Model in R

12) Creating Product Bundles

Often when we visit a McDonald’s outlet, we intend to buy only a burger, but when we look at the meal menu, we end up buying the full mean instead of a single burger. This method of combining a few products and selling them as a single unit is called product bundling. It helps in increasing the sales of a business.

Project Idea: In this project, you will identify product bundles from the given sales data. While market basket analysis is commonly used for solving such problems, you will be using the time series clustering method. The two techniques will be compared to understand the significance of both methods.

Source Code: Identify Product Bundles from Sales Data

Recommended Reading: 50 Business Analyst Interview Questions and Answers

Professional Business Analysts planning to aim for senior roles will find business analyst projects samples in this section. A senior business analyst is often expected to possess knowledge of Big Data tools . Thus, you will find the projects described below rely on these tools.

13) Analyzing Log Files

If you are new to Big data projects and want to learn the basics of data analysis using Hive, then this project will be a good start. This simple project has been added to this section to prepare you for the next two projects.

Project Idea: This project is simply about analyzing log files of different users of a website. You will learn how to use Apache Hive to extract meaningful data insights by executing real-time queries.

Source Code: Hive Sample Projects-Learn data analysis using sample data for Hive

14) Retain Analytics

Retail Analytics refers to the complete analysis of various aspects of a business, including customer behavior and demands, supply chain analysis, sales, marketing, and inventory management. Such deeper analysis assists in deeply understanding the business model and smoothens various decision-making processes.

Project Idea: In this project, you will work with the Walmart stores dataset and use various Big Data techniques and tools to perform retail analytics. You will explore how to use tools like AWS EC2, Docker -composer, HDFS, Apache Hive, and MySQL for implementing the full solution.

Source Code: Retail Analytics Project Example using Sqoop, HDFS, and Hive

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15) Analyzing Airline Data

Data has become a huge asset for many industries, and the airline industry is no exception. They rely on big data to answer a few of the most vital questions like when the customers are likely to witness minimum delay in flight timings? Are older planes more prone to delays? etc. Project Idea: For this project, you will work on the dataset of an airline and find answers to questions like the ones mentioned above. You will be guided on how to ingest data and extract it using Cloudera VMware. After that, you will learn about preprocessing the data using Apache Pig. Next, you will use Hive for making tables and performing Exploratory Data Analysis. You will also get to explore the application of HCatloader and parquet through this project. Source Code: Hadoop Hive Project on Airline Dataset Analysis

Hey, Hey! The blog hasn’t ended yet. Going by what Steve Jobs said. “ ‘Learn continually. There's always “one more thing” to learn.’, we don’t want your learning journey to stop here. Check out more such Data Science Projects and Big Data projects from our repository to work on more exciting projects like the ones discussed in this blog.

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About the Author

Manika Nagpal is a versatile professional with a strong background in both Physics and Data Science. As a Senior Analyst at ProjectPro, she leverages her expertise in data science and writing to create engaging and insightful blogs that help businesses and individuals stay up-to-date with the

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Top Business Analytics Projects to Sharpen Your Skills and Build Your Business Analytics Portfolio

Business analytics is the tool used by professionals to make sound business decisions. It fosters the profitability of a business and helps increase a business’s market value. This is why business owners are keen on employing business analysts or business intelligence analysts to help achieve their objectives.

With the increase in demand for such professionals, you will need to develop cutting-edge skills to land a position. If you don’t want to get certified yet, you should consider completing business analytics projects. These projects will help you gain hands-on experience and showcase to employers your expertise and skill level in business analytics .

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5 skills that business analytics projects can help you practice.

Completing business analytics projects can set you apart from other job applicants. These projects will help you develop real-world experience. Whether your focus is on customer relationship management, financial management, human resources, marketing, or supply chain management, these projects will be invaluable to your growth.

SQL. SQL is a popular coding language used in databases. Through it, analysts and developers write queries to retrieve data from transaction databases. Data scientists and data analysts also rely on the coding language. After retrieving data from the databases, business analysts present the data visually to stakeholders.
Statistical Languages. Working on business analytics projects will expose you to statistical languages such as R and Python. Analysts rely on R for statistical analysts and Python for programming. A combination of these languages can help you work easily with big data sets.
Statistical Software. These projects are also quite beneficial in helping you build skills in statistical software. Through the projects, you will become familiar with SAS, SPS, and Excel.
Data Visualization . A significant part of business analytics involves data visualization . As part of the projects, you will not only learn how to fetch data from different databases but also present them to stakeholders. This means you will get to familiarize yourself with data visualization tools and techniques.
Machine Learning. As you work on the projects, you will encounter many instances where machine learning is vital . You should expect to use business intelligence tools for curating friendly user interfaces and augmented analytics to receive accurate insights.

Best Business Analytics Project Ideas for Beginners

Being a beginner in the field of business analytics does not mean you cannot pursue projects to boost your portfolio. There are plenty of beginner-friendly business analytics project ideas to help you grow your skills in business analytics. Below we curated a list of the best beginner project ideas to jumpstart your career.

Data on Employee Performance and Resignation

Business Analytics Skills Practiced: Data Visualization, Machine Learning

In this project, you will provide a company with data that can explain why employees are resigning. The goal is to take these results and use them to improve the business environment. You can take into account the employee’s distance from home, work culture, or job role. You should evaluate each factor with the relationship to resignation.

Forecasting Sales of a Mall During December

Business Analytics Skills Practiced: Machine Learning, Data Visualization

A mall features a variety of shops and stalls that see high traffic during the holiday season. In this project, you should be able to determine which is the most popular product and how to ensure the shop does not run out of stock. You should check the current inventory and the customer segmentation to ensure you can forecast the sales properly.

Predicting the Success of a Product

In this project, you can rely on your analytical skills to determine if a particular product will sell well in a specified market. For instance, you can focus on the entertainment industry. With thousands of hours of content being disseminated daily, it is quite challenging to establish which song or movie will do well. You will need to make use of historical data and models to make predictions.

Predicting Sales for an Upcoming Car Design

This project involves taking a deep dive into customer needs and wants. You can work on a project to determine if a new car design, color, or shape will appeal to the target audience. There is a wide variety of cars available in the market to help you determine the most popular vehicle.

Customer Segmentation

Business Analytics Skills Practiced: Machine Learning, Data Visualization, Statistical Languages

In this project, you will deal with a wide customer base of an organization. The main aim of the project is to provide the best customer segmentation to the business leader, development, and marketing team to design campaigns. You should check on the spending ability of the customers and the most popular products.

Best Intermediate Business Analytics Project Ideas

If you have confidence in your business analytics skills and would like to take on new challenges, you should pursue intermediate business analytics projects. These mid-level projects will open you up to new horizons in business analytics. They can also help in landing a well-paying job position in tech or other fields.

Project Management and Business Analysis

Business Analytics Skills Practiced: Machine Learning

You can get plenty of ideas by reading this paper on project management and business analytics. The paper covers lessons from A Guide to the Project Management Body of Knowledge and A Guide to the Business Analysis Body of Knowledge . The latter provides a comprehensive guide in the elicitation process, also referred to as enterprise analysis.

The above-mentioned books are instrumental to improving your project management skills and informing you on best practices in the industry. You will start with identifying the organizational problem and finish by defining systems capabilities.

Human Resources

Business Analytics Skills Practiced: Data Visualization

This project involves automating processes, multidimensional analysis, self-service access, and recruitment methods. Your goal is to find ways to improve recruitment and retainment for a company while remaining within a set budget. This project will help you develop analytical skills in establishing the sensitive areas of a business that can lead to potential losses.

Business Analytics Capstone

Business Analytics Skills Practiced: Data Visualization

If you have a computer science or business degree, you should consider working on this capstone project. This project-based course will help you learn real-world applications for data-driven decision making. By working on this project, you will familiarize yourself with using data to optimize businesses, maximize value, and make operations efficient.

This capstone project will take business professionals through challenges faced by global companies such as Yahoo and Google. You will learn how to use data for addressing business challenges. It’s a curated project by Yahoo to help you master how to make data-driven decisions after complete evaluation.

Sales Conversion Optimization

Business Analytics Skills Practiced: Machine Learning, Statistical Software, Statistical Programming

This is a great project to work on Return on Investment. Through this project, you will be able to develop campaign strategies that will positively impact business operations. You will also optimize the budget to be more impactful by utilizing methods such as email blasting and social media marketing.

Optical Character Recognition

Business Analytics Skills Practiced: Machine Learning, Statistical Programming

You can choose to work on optical character recognition, which deals with converting text in images to typed text. You can find open-source project templates for creating optical character recognition software with Python and Swift. You can program an application that turns handwritten documents into typed ones.

Advanced Business Analytics Project Ideas

These advanced business analytics project ideas can take your expertise to a professional level. These projects feature advanced concepts such as pattern matching, forecasting, sentiment analysis, graph analysis, and neural networks. Find out more about the business analytics project details and the skills you will gain below.

Credit Risk Classification Analysis

Business Analytics Skills Practiced: Machine Learning, Statistical Programming

In this project, you can choose to focus on a particular financial organization or simply generalize. However, the more specific, the easier it will be to analyze the credit risk. You will start by analyzing the historical data of the customer, financial information, and loan purpose.

You should check on factors like age, gender, marital status, job type, and income in your project. This classification tool should inform the business on the best cause of action when issuing credit or loans.

Sales Data Exploration and Reduction

This project will help inform business leaders on the best course of action when it comes to remaining profitable. You can take a deep dive into the project to make it advanced by including the products or services that will generate more value or a higher ROI. You can also add customer segmentation to the project to help the leaders identify the target audience.

Music Sales in America

Business Analytics Skills Practiced: Data Visualization, Machine Learning

This project involves assessing factors in music sales like genre, popular artists, and sales distribution. The project will require you to work with Tableau for data visualization. By the end of the project, you will be familiar with top musicians, data mining, data visualizations, and machine learning concepts.

University Fundraising

Business Analytics Skills Practiced: Statistical Programming, Data Visualization

To complete this project, you will need to include the degree that attracts the most funds, gift donors, and pledge deals. It is best to present this data individually in Excel or a similar tool. Your project should display your ability to conduct in-depth research, data analysis, data visualization, and statistical programming.

Exploring Aircraft Hardware Suppliers

Business Analytics Skills Practiced: Machine Learning, Data Analysis, Statistical Programming

This is an excellent advanced project idea in business analytics that tackles the demand and supply of aircraft hardware. In the project, you will be expected to create a menu, explore orders, minimum purchases, forms of payment, and customer preferences. To make it more complex, you can also feature the shopping time.

Business Analytics Starter Project Templates

To complete the named business analytics projects, you do not need to start from scratch. There are exceptional template samples that can help you work on your projects seamlessly. Find a list of business analytics starter project samples below.

Business Analyst Template Toolkit . Whether you are a beginner or a seasoned business analyst, this template toolkit provides templates to address your needs. You will find about 12 sample templates, work samples, and guidebooks. Each of these templates can be customized to fit your needs.
Software Requirements Documentation Template . This template features business requirements, rules, reports, user interfaces, and data requirements. It also comes with the process flows, use cases, service level agreements, business continuities, and data security plans.
Attribute Metadata Template . Data features entities and attributes. Entities are identifiable classes of people or things, and attributes are characteristics that give further descriptions. You can rely on this template for the names, attributes, data types, values, and definitions of entities. You can also add extra segments like risk, priority, complexity, stability, and status.
Business Analysis Plan Template . This template will help you develop a reliable business analysis plan. Through this template, you can document your business planning activities regarding the project.
Templates for Business Analysts . Tech Canvas features several business analytics templates to provide a solid structure to use in your organization. For example, they feature a strategy analysis template, solicitation and collaboration template, requirement analysis template, and Pareto analysis template.

Next Steps: Start Organizing Your Business Analytics Portfolio

A lady holding papers with graph drawings. To succeed in business, you cannot underestimate the power of big data, business analytics, and business intelligence.

A well-curated portfolio might be what you need to get to the next level in your career. After you have amassed solid real-world skills from the business analytics projects, you need to know how to present them for job applications. The tips we list below will guide you to designing a winning resume.

Pinpoint Your Achievements

Use your portfolio for marketing your skills and experience. Always try to capture the recruiter’s attention from the onset by displaying your best work. Often hiring managers receive hundreds of applications, so it’s important for you to highlight your achievements to showcase your skills.

"Career Karma entered my life when I needed it most and quickly helped me match with a bootcamp. Two months after graduating, I found my dream job that aligned with my values and goals in life!"

Venus, Software Engineer at Rockbot

Key in Relevant Information

Align your portfolio to the job requirements and description. Use these job sections to guide you in adding relevant information to your portfolio. You will gauge the skills and experience needed, which will help you curate the best-suited portfolio.

Make It Simple

You must present a straightforward portfolio. Your portfolio should have concise documents which are organized. Keep it updated so that it can be easier for the employer to track your progress over the years.

Business Analytics Projects FAQ

Yes, a well-curated business analytics portfolio can lead to a well-paying career. As a professional, consider aligning your documents according to the job requirements. This will significantly increase your chances of employment.

No, you do not need to learn how to code to complete a business analytics project. However, having basic knowledge of software programming can be highly beneficial. You will have a broad understanding of the technical side of the business.

There are four different types of business analytics. There are descriptive, diagnostic, prescriptive, and predictive.

No, business analytics projects are not difficult to complete. As long as you have the motivation and experience to complete a project, you will be able to see it through. Ensure you have a strict schedule to help you remain consistent.

About us: Career Karma is a platform designed to help job seekers find, research, and connect with job training programs to advance their careers. Learn about the CK publication .

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How to Write a Business Analysis Report [Examples and Templates]

Enjoy reading this blog post written by our experts or partners.

If you want to see what Databox can do for you, click here .

Business analysis reports are a lot like preparing a delicious meal.

Sometimes, the recipe is simple enough that you only need to use the basic ingredients. Other times, you will have to follow specific instructions to ensure those tasty delicacies turn out just right.

Want to make sure your business report never turns out like a chewy piece of meat? You’ve come to the right place.

Stay tuned until the end of this blog post, and we promise you won’t be hungry… for business knowledge!

What Is a Business Analysis Report?

Why is analytical reporting important, what should be included in a business analysis report, how do you write a business analysis report, business data analysis report examples and templates.

Improve Business Reporting with Databox

marketing_overview_hubspot_ga_dashboard_databox

A business analysis report provides information about the current situation of your company. This report is usually created by the management to help in the decision-making process and is usually used by other departments within a company.

Business analysis reports can either focus your research on the effectiveness of an existing business process or a proposed new process. Besides, an effective business analysis report should also assess the results to determine if the process changes had a positive or negative effect on the company’s goals. In fact, according to Databox’s State of business reporting , an overwhelming majority of companies said that reporting improved their performance.

Analytical reports are the bridge that connects your company to an effective, data-driven business intelligence strategy . By leveraging analytical reports , you can make informed decisions about your organization’s most critical issues. You will no longer need to rely on gut instinct or anecdotal evidence when assessing risks, threats, and opportunities. Instead, you will have access to a wealth of reliable data to inform your decisions.

Here are some essential benefits of analytical reporting:

Improve communication and foster collaboration – The most obvious benefit of business analysis report writing is an improvement in communication between all stakeholders involved in the project. Also, analytical business reports can help you to generate more trust and foster better collaboration among your employees and colleagues. By using data analytics reporting tools , you will be able to monitor your employees’ performance on a day-to-day basis. This will allow you to hold them accountable for their actions and give them greater freedom within the business as they know that their superiors have faith in their decision-making capabilities.
Increase productivity – Without this level of shared insight, businesses struggle to stay on top of their most important tasks and can become less efficient. An effective analytical business report provides the information needed for more efficient internal processes and helps you find more time for strategic activities such as improving your business strategy or working on long-term goals .
Innovation – In today’s digital age, the pressure to innovate was never greater. When consumers basically have everything they want at their fingertips, stepping up to the plate with a new and improved product or service has never been more important. With an accessible dashboard in place, you will be able to create data-driven narratives for each of your business’ critical functions. For example, if you are a software company, you can use the insights gained from report analysis done with your dashboard software to tailor your product development efforts to the actual needs of your customers. By doing so, you will be able to develop products that are better tailored to specific customer groups. You can also use the same information for developing new marketing strategies and campaigns.
Continuous business evolution – When it comes to digital businesses, data is everything. No model lasts forever, so having access to a business dashboard software that allows you to constantly keep tabs on your business’ performance will help you refine it as time goes on. If there are any glitches in your business model, or if something isn’t panning out as expected, the insight offered by a business analysis report can help you improve upon what works while scrapping what doesn’t.

A business analysis report has several components that need to be included to give a thorough description of the topic at hand. The structure and length of business analysis reports can vary depending on the needs of the project or task.

They can be broken down into different sections that include an:

Executive summary
Study introduction
Methodology
Review of statistics

Reports of this nature may also include case studies or examples in their discussion section.

A report can be written in a formal or informal tone, depending on the audience and purpose of the document. While a formal tone is best for executives , an informal tone is more appropriate for technical audiences . It is also a good idea to use something like an executive summary template to report on the results repeatedly with ease.

A good business analysis report is detailed and provides recommendations in the form of actionable steps. Here we have listed some simple steps that you need to follow to write a good business analysis report. Report writing is a major part of the business analysis process. In this section, you will learn how to write a report for your company:

Preparation

Presentation.

Obtain an overview of what you want to analyze in the business report . For example, if you are writing a business analysis report on how to improve customer service at an insurance company, you will want to look through all the customer service processes to determine where the problems lie. The more prepared you are when starting a project, the easier it will be to get results. Here is what your preparation should look like:

Set your goals

The first step in writing this document is to set your goals . What do you hope to accomplish with this paper? Do you need to assess the company’s finances? Are you looking for ways to make improvements? Or do you have outside investors who want to know if they should buy into the company? Once you know what your goal is, then you can begin setting up your project.

PRO TIP: How Well Are Your Marketing KPIs Performing?

Like most marketers and marketing managers, you want to know how well your efforts are translating into results each month. How much traffic and new contact conversions do you get? How many new contacts do you get from organic sessions? How are your email campaigns performing? How well are your landing pages converting? You might have to scramble to put all of this together in a single report, but now you can have it all at your fingertips in a single Databox dashboard.

Our Marketing Overview Dashboard includes data from Google Analytics 4 and HubSpot Marketing with key performance metrics like:

Sessions . The number of sessions can tell you how many times people are returning to your website. Obviously, the higher the better.
New Contacts from Sessions . How well is your campaign driving new contacts and customers?
Marketing Performance KPIs . Tracking the number of MQLs, SQLs, New Contacts and similar will help you identify how your marketing efforts contribute to sales.
Email Performance . Measure the success of your email campaigns from HubSpot. Keep an eye on your most important email marketing metrics such as number of sent emails, number of opened emails, open rate, email click-through rate, and more.
Blog Posts and Landing Pages . How many people have viewed your blog recently? How well are your landing pages performing?

Now you can benefit from the experience of our Google Analytics and HubSpot Marketing experts, who have put together a plug-and-play Databox template that contains all the essential metrics for monitoring your leads. It’s simple to implement and start using as a standalone dashboard or in marketing reports, and best of all, it’s free!

marketing_overview_hubspot_ga_dashboard_preview

You can easily set it up in just a few clicks – no coding required.

To set up the dashboard, follow these 3 simple steps:

Step 1: Get the template

Step 2: Connect your HubSpot and Google Analytics 4 accounts with Databox.

Step 3: Watch your dashboard populate in seconds.

Assess the Company’s Mission

It’s almost impossible to write a business analysis report without access to the company’s mission statement. Even if you don’t plan on using the mission statement as part of your business analysis summary, it can help you understand the company’s culture and goals. Mission statements are typically short and easy to read, but they may not include every area of focus that you want to include in your report.

Thus, it is important to use other sources when possible. For example, if you are writing a business analysis report for a small start-up company that is just beginning to market its product or service, review the company website or talk directly with management to learn what they believe will be most crucial in growing the company from the ground up.

Stakeholder Analysis

Who is your audience? Create the reader’s persona and tailor all information to their perspective. Create a stakeholder map that identifies all the groups, departments, functions, and individuals involved in this project (and any other projects related to this one). Your stakeholder map should include a description of each group’s role.

Review Financial Performance

Review the financing of the business and determine whether there are any potential threats to the company’s ability to meet its future financial obligations. This includes reviewing debt payments and ownership equity compared with other types of financing such as accounts receivable, cash reserves, and working capital. Determine whether there have been any changes in the funding over time, such as an increase in long-term debt or a decrease in owners’ equity.

Apart from reviewing your debt payments and ownership equity with other types of financing, wouldn’t it be great if you could compare your financial performance to companies that are exactly like yours? With Databox, this can be done in less than 3 minutes.

For example, by joining this benchmark group , you can better understand your gross profit margin performance and see how metrics like income, gross profit, net income, net operating increase, etc compare against businesses like yours.

One piece of data that you would be able to discover is the average gross profit a month for B2B, B2C, SaaS and eCommerce. Knowing that you perform better than the median may help you evaluate your current business strategy and identify the neccessary steps towards improving it.

Instantly and Anonymously Benchmark Your Company’s Performance Against Others Just Like You

If you ever asked yourself:

How does our marketing stack up against our competitors?
Are our salespeople as productive as reps from similar companies?
Are our profit margins as high as our peers?

Databox Benchmark Groups can finally help you answer these questions and discover how your company measures up against similar companies based on your KPIs.

When you join Benchmark Groups, you will:

Get instant, up-to-date data on how your company stacks up against similar companies based on the metrics most important to you. Explore benchmarks for dozens of metrics, built on anonymized data from thousands of companies and get a full 360° view of your company’s KPIs across sales, marketing, finance, and more.
Understand where your business excels and where you may be falling behind so you can shift to what will make the biggest impact. Leverage industry insights to set more effective, competitive business strategies. Explore where exactly you have room for growth within your business based on objective market data.
Keep your clients happy by using data to back up your expertise. Show your clients where you’re helping them overperform against similar companies. Use the data to show prospects where they really are… and the potential of where they could be.
Get a valuable asset for improving yearly and quarterly planning . Get valuable insights into areas that need more work. Gain more context for strategic planning.

The best part?

Benchmark Groups are free to access.
The data is 100% anonymized. No other company will be able to see your performance, and you won’t be able to see the performance of individual companies either.

When it comes to showing you how your performance compares to others, here is what it might look like for the metric Average Session Duration:

And here is an example of an open group you could join:

And this is just a fraction of what you’ll get. With Databox Benchmarks, you will need only one spot to see how all of your teams stack up — marketing, sales, customer service, product development, finance, and more.

Choose criteria so that the Benchmark is calculated using only companies like yours
Narrow the benchmark sample using criteria that describe your company
Display benchmarks right on your Databox dashboards

Sounds like something you want to try out? Join a Databox Benchmark Group today!

Examine the “Four P’s”

“Four P’s” — product , price , place, and promotion . Here’s how they work:

Product — What is the product? How does it compare with those of competitors? Is it in a position to gain market share?
Price — What is the price of the product? Is it what customers perceive as a good value?
Place — Where will the product be sold? Will existing distribution channels suffice or should new channels be considered?
Promotion — Are there marketing communications efforts already in place or needed to support the product launch or existing products?

Evaluate the Company Structure

A business analysis report examines the structure of a company, including its management, staff, departments, divisions, and supply chain. It also evaluates how well-managed the company is and how efficient its supply chain is. In order to develop a strong strategy, you need to be able to analyze your business structure.

When writing a business analysis report, it’s important to make sure you structure your work properly. You want to impress your readers with a clear and logical layout, so they will be able to see the strengths of your recommendations for improving certain areas of the business. A badly written report can completely ruin an impression, so follow these steps to ensure you get it right the first time.

A typical business analysis report is formatted as a cover page , an executive summary , information sections, and a summary .

A cover page contains the title and author of the report, the date, a contact person, and reference numbers.
The information section is backed up by data from the work you’ve done to support your findings, including charts and tables. Also, includes all the information that will help you make decisions about your project. Experience has shown that the use of reputable study materials, such as StuDocu and others, might serve you as a great assistant in your findings and project tasks.
A summary is a short overview of the main points that you’ve made in the report. It should be written so someone who hasn’t read your entire document can understand exactly what you’re saying. Use it to highlight your main recommendations for how to change your project or organization in order to achieve its goals.
The last section of a business analysis report is a short list of references that include any websites or documents that you used in your research. Be sure to note if you created or modified any of these documents — it’s important to give credit where credit is due.

The Process of Investigation

Explain the problem – Clearly identify the issue and determine who is affected by it. You should include a detailed description of the problem you are analyzing, as well as an in-depth analysis of its components and effects. If you’re analyzing a small issue on a local scale, make sure that your report reflects this scale. That way, if someone else reads your work who had no idea about its context or scope, they would still be able to understand it.

Explain research methods – There are two ways to do this. Firstly, you can list the methods you’ve used in the report to determine your actions’ success and failure. Secondly, you should add one or two new methods to try instead. Always tell readers how you came up with your answer or what data you used for your report. If you simply tell them that the company needs to improve customer service training then they won’t know what kind of data led you to that conclusion. Also, if there were several ways of addressing a problem, discuss each one and why it might not work or why it may not be appropriate for the company at this time.

Analyze data – Analyzing data is an integral part of any business decision, whether it’s related to the costs of manufacturing a product or predicting consumer behavior. Business analysis reports typically focus on one aspect of an organization and break down that aspect into several parts — all of which must be analyzed in order to come to a conclusion about the original topic.

The Outcome of Each Investigation Stage

The recommendations and actions will usually follow from the business objectives not being met. For example, if one of your goals was to decrease costs then your recommendations would include optimization strategies for cost reduction . If you have more than one suggestion you should make a list of the pros and cons of each one. You can make several recommendations in one report if they are related. In addition, make sure that every recommendation has supporting arguments to back them up.

Report Summary

Every business analysis report should start with a summary. It’s the first thing people see and it needs to capture their attention and interest. The report summary can be created in two ways, depending on the nature of the report:

If the report is a brief one, that simply gives a summary of the findings, then it can be created as part of the executive summary.
But if it’s a long report, it could be too wordy to summarise. In this case, you can create a more detailed overview that covers all the main aspects of the project from both an internal and external point of view.

Everything comes down to this section. A presentation is designed to inform, persuade and influence decision-makers to take the next action steps.

Sometimes a slide or two can make them change their mind or open new horizons. These days, digital dashboards are becoming increasingly popular when it comes to presenting data in business reports. Dashboards combine different visualizations into one place, allowing users to get an overview of the information they need at a glance rather than searching through a bunch of documents or spreadsheets trying.

Databox offers dynamic and accessible digital dashboards that will help you to convert raw data into a meaningful story. And the best part is that you can do it with a ‘blink of an eye’ even if you don’t have any coding or designs skills. There is also an option of individual report customization so that you can tailor any dashboard to your own needs.

Pre-made dashboard templates can be extremely useful when creating your own business analysis report. While examples serve as inspiration, templates allow you to create reports quickly and easily without having to spend time (and money) developing the underlying data models.

Databox dashboard templates come with some of the most common pre-built metrics and KPIs different types of businesses track across different departments. In order to create powerful business insights within minutes, all you need to do is download any of our free templates and connect your data source — the metrics will populate automatically.

Business Report Examples and Templates

Databox business dashboard examples are simple and powerful tools for tracking your business KPIs and performance. These dashboards can be used by executive teams and managers as well as by senior management, marketing, sales, customer support, IT, accounting, and other departments. If you are new to this kind of reporting, you may not know how to set up a dashboard or what metrics should be displayed on it. This is where a premade template for business dashboards comes in handy.

For example, this Google Ads Report Template is designed to give you a simple way to keep track of your campaigns’ performance over time, and it’s a great resource for anyone who uses Google’s advertising platform, regardless of whether they’re an SMB, an SME or an enterprise.

KPI Report Examples and Templates

KPIs are the foundation of any business analysis, and they can come in a multitude of forms. While we’ve defined KPIs as metrics or measurements that allow you to assess the effectiveness of a given process, department, or team, there are a number of ways to evaluate your KPIs. Through the use of color-coding, user-friendly graphs and charts, and an intuitive layout, your KPIs should be easy for anyone to understand. A good way to do this is by having a dedicated business analyst on your team who can take on the task of gathering data, analyzing it, and presenting it in a way that will drive actionable insights. However, if you don’t have a dedicated analyst or don’t want to spend money on one, you can still create KPI reporting dashboards using free KPI Databox templates and examples .

For example, this Sales Overview template is a great resource for managers who want to get an overview of their sales team’s performance and KPIs. It’s perfect for getting started with business analysis, as it is relatively easy to understand and put together.

Performance Report Examples and Templates

All businesses, regardless of size or industry, need to know how well they are performing in order to make the best decisions for their company and improve overall ROI. A performance dashboard is a strategic tool used to track key metrics across different departments and provide insight into the health of a business. Databox has a collection of 50+ Performance Dashboard Examples and Templates which are available for free download.

For example, if your business is investing a lot into customer support, we recommend tracking your customer service performance with this Helpscout Mailbox Dashboard which will give you insights into conversations, your team’s productivity, customer happiness score, and more.

Executive Report Examples and Templates

An executive dashboard is a visual representation of the current state of a business. The main purpose of an executive dashboard is to enable business leaders to quickly identify opportunities, identify areas for improvement, pinpoint issues, and make data-informed decisions for driving sales growth, new product launches, and overall business growth. When an executive dashboard is fully developed, as one of these 50+ Databox Free Executive Examples and Templates , it offers a single view of the most important metrics for a business at a glance.

For example, you probably have more than one set of financial data tracked using an executive dashboard software : invoices, revenue reports (for accounting), income statements, to mention a few. If you want to view all this data in one convenient place, or even create a custom report that gives you a better picture of your business’s financial health, this Stripe Dashboard Template is a perfect solution for you.

Metrics Report Examples and Templates

Choosing the right metrics for your business dashboard can be crucial to helping you meet your business objectives, evaluate your performance, and get insights into how your business is operating. Metrics dashboards are used by senior management to measure the performance of their company on a day-to-day basis. They are also used by mid-level managers to determine how their teams are performing against individual goals and objectives. Databox provides 50+ Free Metrics Dashboard Examples and Templates that you can use to create your company’s own dashboards. Each is unique and will depend on your business needs.

For example, if you are looking for ways to track the performance of your DevOps team, and get the latest updates on projects quickly – from commits, and repository status, to top contributors to your software development projects, this GitHub Overview Dashboard is for you.

Small Business Report Examples and Templates

A lot of small business owners don’t realize how important it is to have a proper dashboard in place until they actually use one. A dashboard can help you track and compare different metrics, benchmark your performance against industry averages, evaluate the effectiveness of your marketing and sales strategies, track financials, and much more. So if you’re looking for a tool to help you measure and manage your small business’ performance, try some of these 50+ Free Small Business Dashboard Examples and Templates .

For example, this Quickbooks Dashboard template can help you get a clear understanding of your business’s financial performance, ultimately allowing you to make better-informed decisions that will drive growth and profitability.

Agency Report Examples and Templates

Agency dashboards are not a new concept. They have been around for years and are used by companies all over the world. Agency dashboards can be powerful tools for improving your marketing performance, increasing client loyalty, and landing new clients. There is no single correct way to create an agency dashboard. Everyone has their own goals and objectives, which will ultimately determine which data points you choose to include or track using a client dashboard software , but with these Databox 100+ Free Agency Dashboard Examples and Templates you have plenty of options to start with.

For example, you can use this Harvest Clients Time Report to easily see how much time your employees spend working on projects for a particular client, including billable hours and billable amount split by projects.

Better Business Reporting with Databox

Business analysis is all about finding smart ways to evaluate your organization’s performance and future potential. And that’s where Databox comes in.

Databox can be a helpful tool for business leaders who are required to analyze data, hold frequent meetings, and generate change in their organizations. From improving the quality and accessibility of your reporting to tracking critical performance metrics in one place, and sharing performance metrics with your peers and team members in a cohesive, presentable way, allow Databox to be your personal assistant in these processes, minimize the burdens of reporting and ensure you always stay on top of your metrics game.

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Business Analytics: Assignment 1

Related Papers

Harikishan Thota

Business Analytics Assignment On The Consumption Of Cosmetics

Task 1- Background information Write a description of the selected dataset and project, and its importance for your chosen company. Information must be appropriately referenced.

Task 2 – Perform Data Mining on data view Upload the selected dataset on SAP Predictive Analysis. For your dataset, perform the relevant data analysis tasks on data uploaded using data mining techniques such as classification/association/time series/clustering and identify the BI reporting solution and/or dashboards you need to develop for the operational manager of the chosen company

Task 3 – Research Justify why you chose thee BI reporting solution/dashboards/data mining technique in Task 3 and why those data sets attributes are present and laid out in the fashion you proposed (feel free to include all other relevant justifications).

Note: To ensure that you discuss this task properly, you must include visual samples of the reports you produce (i.e. the screenshots of the BI report/dashboard must be presented and explained in the written report; use ‘Snipping tool’), and also include any assumptions that you may have made about the analysis from Task 3.

Task 4 – Recommendations for CEO The CEO of the chosen company would like to improve their operations. Based on your BI analysis and the insights gained from your “Dataset” in the lights of analysis performed in previous tasks, make some logical recommendations to the CEO, and justify why/how your proposal could assist in achieving operational/strategic objectives with the help of appropriate references from peer-reviewed sources.

Task 5 – Cover letter Write a cover letter to the CEO of the chosen firm with the important data insights and recommendations to achieve operational/strategic objectives.

Other Tasks – Please refer to the marking scheme at the end of the assignment for other tasks and expectations.

1.0 Introduction The excellence business has kept on developing and flourish as of late, with the monetary downturn doing little to decrease British purchasers' energy and hunger for new items and creative increments to their own consideration routines. Yet, it's not simply items that are developing. Clients' preferences and wishes are likewise continually in motion.

Excellence as an idea, not to mention an industry, has experienced immense changes throughout the years. What we see to be delightful, in vogue and even worthy is continually moving, starting patterns and styles that are presently everlastingly connected with a minute in time. You just need to think back to the excitement of the forties or the unmistakable style of the sixties to perceive how much changes in only a couple of decades, and usually these looks and patterns that we partner with those times as much as any verifiable or social occasion.

The drivers behind these progressions discussed in this business analytics assignment are regularly driven by the business, with design houses or famous people managing a specific style or look which is then received and spread by real brands. In any case, we ought not belittle the impact or capability of clients themselves, and how their inclinations and necessities can manage the bearing that the business takes as far as item advancement.

2.0 Project Overview With the end goal of this business analytics assignment we are concentrating exclusively on the female market. In this way our potential clients base (to create projections) does exclude any insights or arrangements for male purchasers. We have utilized the statistic report for spa goers directed by spa week by week as a reason for our suppositions. In view of this study the spa goer is overwhelmingly female (85%), knowledgeable (46% went to school), and crosses salary levels (26% gain under $35,000; 32% win somewhere in the range of $35,000 and $74,999 and 42% procure over $75,000) (Laursen and Thorlund, 2016).

Utilizing this statistic as the reason for our approach analyzed in this assignment on business analytics we built up our potential client base with the accompanying parameters: Women with some school between the ages of 25 and 65. We totally limited ladies with no school, ladies somewhere in the range of 18 and 25, ladies more than 65 and the whole male populace (Holsapple et al. 2014).. It is evaluated that the female populace will develop at a rate of 5.18% every year from 2000 to 2025 (source: the U.S. evaluation department). This information is for the whole United States. Of the 33,642,000 ladies spoke to between the ages of 25 and 65 who went to school, 29,293,000 (87%) live in major CMSA's.3.0 Analytical Solution

Restorative excellence or cosmetics items are compound blends that are utilized to improve scent or presence of the human body. Aromas, shading and cosmetics beauty care products, antiperspirants, haircare, healthy skin, and sun care are sure items that are broadly accessible and are utilized by people. Retail locations that incorporate claim to fame stores, restrictive brand outlets and general stores are the significant dissemination channels. In the present period, online channels are additionally picking up fame among the clients.

Individual consideration and magnificence item deals are on the ascent and are anticipated to enroll a development from 3.5 to 4.5% somewhere in the range of 2015 and 2020. It is foreseen to reach USD 500 billion by 2020. The Asia Pacific records for a noteworthy offer in the worldwide individual consideration industry; expanding request in the district is ascribed to its protruding populace. In the U.S, developing Hispanic populace is driving interest for sumptuous individual consideration marks and will raise amid the conjecture years (Holsapple et al. 2014).

Excellence or corrective items industry is one of the segments that stayed unaffected, regardless of the variances in the economy. Corrective deals have kept up a specific volume all through its general items. The deal can be ascribed to expanding and reliable utilization of items, particularly by people. Individual consideration organizations are making their items accessible online at focused costs. The web affects each business class be it antiperspirant or shaving items. Clients are eager to buy the products that can come legitimately to them through internet retailing (Acito and Khatri, 2014).

Various clients are worried about natural effect of the products they use. In this manner, makers are tricking their potential purchasers by promoting their items as natural and manageable. These qualities are even featured on items names and are expanding their image prominence as discussed in this assignment on business analytics. Moreover, a moral segment of the business includes client's worries about the items testing on creatures (Dubey and Gunasekaran, 2015). Makers are dealing with every one of these elements for advancing their items and profit the advantages of such worthwhile industry.

Worldwide corrective items advertise is ordered as healthy skin items, hair care items, shading beautifying agents, scents, individual consideration items, and oral consideration items. Skincare item is foreseen to overwhelm the worldwide corrective items advertise amid the conjecture time frame attributable to its various variations, for example, cosmetics remover, depilatories, hand care, and facial consideration. In light of structure, worldwide restorative items advertise is ordered into arrangements, creams, moisturizers, salves, suspensions, tablets, powders, gels, sticks, and pressurized canned products. Gels are anticipated to observe greatest increases over the conjecture time allotment inferable from rising appropriation of the item in youths for hair gel and face wash (Lim et al. 2013).

In this segment of the assignment on business analytics, the analyst has exhibited two contrasting model of symptomatic courses of action spread out with the assistance of SAP Lumira analytics apparatus. While stooping the models, the ace endeavored to show the conceivable market areas, target clients, propelling channel principal and simplicity of spreading data about the thing in end thing plot. The keen model orchestrated with the assistance of SAP Lumira picture the information amassed through this examination survey (Vera-Baquero et al. 2013). Then again, the pivot charts orchestrated with the assistance of outperform wants demonstrates numerical figures.

3.1 Analytical Solution 1 [SAP Lumira] 3.1.1 Market Opportunities: The worldwide magnificence and individual consideration items advertise measure was esteemed at USD 455.3 billion of every 2017. It is foreseen to enlist a CAGR of 5.9% amid the conjecture time frame. The market is foreseen to step along a sound development track attributable to rising inclination for normal and natural individual consideration (NOPC) items, expanding appropriation of Augmented Reality (AR) in the magnificence business, developing interest for hostile to - maturing items, and prospering prominence of men's prepping items.

This market is ready to observe critical development over the gauge time frame inferable from a few variables. One of the unmistakable variables is developing inclination for NOPC items, since buyers presently lean toward items that contain common fixings.

3.1.2 Targeted Customers

statistic data business analytics assignment

The significance of socioeconomics can't be downplayed. Truth be told, business new businesses will at first accumulate statistic data to incorporate into their field-tested strategies with an end goal to raise seed capital, which is essentially imperative to propelling a business. Statistic data can include: age, area, sex, pay level, training level, conjugal or family status, occupation, ethnic foundation.

The organisation may likewise require neighborhood socioeconomics about what number of individuals claim autos or homes, who goes to school or what level of inhabitants are web or web based life clients. Besides, you can likewise consider the psychographics of the socioeconomics you are focusing on. These may include: identity, frames of mind, values, interests/diversions, ways of life, conduct.

Regardless Notwithstanding whether the economics delineate national or adjacent markets or little social occasions, for instance, those inside an age run, the information keeps up a key separation from the hit-and-miss publicizing so routinely utilized by various associations. As you can envision, the ROI is commonly unsuitable.

The procedure of deliberately deciding socioeconomics to distinguish perfect clients can frequently be difficult. Regardless, this is pivotal as certain promoting methodologies must be put into play that incorporate focused on item bundling, notices and valuing, among different variables.

3.1.3 Channel for campaigns All things considered, how about we investigate some regular socioeconomics and how advertisers may discover these at first valuable to distinguish target markets.

Age – This is a typical client statistic that chiefs use to fragment markets. An organization selling dietary enhancements may have practical experience in at least one wellbeing classes. The promoting plan could express the age bunches that are probably going to buy each sort of item highlighted in that classification. For instance, for a cancer prevention agent equation, advertisers could target people between the ages of 40 and 60 years. In view of statistical surveying, the item may be evaluated underneath normal, have the most recent bleeding edge fixings, and brag the most recent biotechnology.

Sexual orientation – Portioning markets as demonstrated by sex is another typical exhibiting framework. As a result of social trim and physical differences, folks and females have different prerequisites. Sexual direction division is typically found in the publicizing of ordinary prosperity and greatness things. Sexual orientation jobs have changed drastically throughout the years. Advertisers need to abstain from falling into conventional generalizations when showcasing wellbeing and magnificence items in this day and age. For instance, sports sustenance has changed drastically lately. Lady, presently like never before, are using a portion of the equivalent restless games sustenance items men use. For instance, protein equations and dinner substitutions are similarly well known among people. The equivalent can be said for nitric oxide sponsors for both male and female perseverance competitors.

Pay – This is an exceptionally viable statistic advertisers use in contriving their showcasing plans. Frequently, clusters with different pay levels make different tendencies. The improvement of different tendencies is, all things considered, as a result of moderateness and access. A couple of pros fight pay isn't the most strong measurement. A lower pay social affair might be the first to purchase another broad feeding formula if it abstains from the necessity for a couple of free product things. Strangely, inclinations can likewise move when lower salary bunches want upward versatility and purchase items that intrigue to those aspirations.

Training – You may see some cover with the salary statistic. The conviction is that advanced education prompts higher normal wages. In any case, training is likewise a statistic numerous advertisers interface with social class. Social class can be genuine or seen. For instance, individuals with advanced educations may see themselves to be in the upper white collar class. For instance, instructors regularly have advanced educations however won't have a relating upper white collar class salary. These individuals still may lean toward increasingly wealthy items and way of life.

Understand that various elements are considered in choosing the perfect target showcase for an advertising effort. All in all, the objective is to pursue the market that offers the best present or long haul benefit potential. Market measure, development potential, number of contenders and friends qualities are among the key variables. The bigger the market, the more potential to win benefit. Markets that are quickly developing and less aggressive additionally offer preferences.

Market measure in business analytics assignment

3.1.4 Overall Strategies

Strategie in business analytics assignment

4.0 Recommendations and Conclusion The magnificence business has kept on developing and flourish lately, with the financial downturn doing little to decrease British buyers' energy and hunger for new items and imaginative augmentations to their own consideration routines. In any case, it's not simply items that are developing. Clients' preferences and wishes are additionally continually in transition.

Excellence as an idea, not to mention an industry, has experienced tremendous changes throughout the years. What we see to be lovely, chic and even adequate is continually moving, starting patterns and styles that are presently perpetually connected with a minute in time. You just need to think back to the fabulousness of the forties or the distinct style of the sixties to perceive how much changes in only a couple of decades, and usually these looks and patterns that we partner with those periods as much as any verifiable or social occasion.

The drivers behind these progressions are regularly driven by the business, with design houses or big names managing a specific style or look which is then received and spread by significant brands. In any case, we ought not to belittle the impact or capability of clients themselves, and how their inclinations and requirements can manage the course that the business takes as far as item improvement.

Webb deVlam has directed research on three particular gatherings of female excellence purchasers: the sure ager, the new to normal and the baffled beginner. Instead of simply being characterized by age, riches or status, these customer types depend on disposition and certainty, and each gathering has clear issues and worries that they need their excellence items to address and correct.

Usually essentially alluded to as the "over 50s", there is an inclination to accept that this statistic just thinks about enemy of maturing and how to annihilate wrinkles. Our exploration uncovered a solid pattern of "sure agers" who are splendidly alright with their life arrange. They are not hoping to look to days of yore or recover youth, and for them it's increasingly about accomplishing skin wellbeing.

A large number of the ladies we addressed felt that a great deal of magnificence brands attempted to over-entangle their items and showcasing materials with logical equations and cases to make individuals look more youthful. In any case, this isn't a need for this gathering – they need items which will enable them to accomplish the skin they need, not return them to what they may have once had. Delicate, clear and solid were words that continued being rehashed all through these discussions.

Brands need to handle the unaddressed skin worries that the business has all the earmarks of being awkward facing, from grown-up beginning skin inflammation to postmenopausal skin. Those with develop skin are feeling disliked and under-adjusted and it's time that brands and the business in general set aside the effort to comprehend and provide food for the entire scope of issues, bogeymen and needs that drive this gathering.

These shoppers are probably going to have cash and time to spend on magnificence routines and put resources into items over and over, yet they are additionally less inspired by complex science and entangled aromas. Sure agers hunger for straightforwardness and immaculateness, both as far as item substance and the bundling and promoting that goes with them.

It is recommended in this assignment on business analytics that this gathering comprises of sure, guaranteed ladies who comprehend what they need and what suits their skin and their way of life. They have well-created excellence routines and are beginning to search for explicit items handling skincare and maturing. Normal items are speaking to this gathering, and they have begun to explore by means of huge high road brands, for example, Lush and The Body Shop.

Brands need to strike a fragile parity here. In spite of the fact that they need direction on which regular items are directly for them, an excess of data and whine will put this gathering off, as they are sure and educated and searching for a utilitarian, reasonable answer for their magnificence issues.

They are probably going to drive or working all day and thusly requiring handy solution items that will enable them to keep up their look with least exertion. As far as discussed in this business analytics assignment bundling and brand configuration, clear correspondence about the item's substance and beginning are fundamental, and items that fill more than one need will dependably engage these purchasers. Business Analytics assignments are being prepared by our business statistics assignment help experts from top universities which let us to provide you a reliable assignment help best service.

References Acito, F. and Khatri, V., 2014. Business analytics: Why now and what next?.

Duan, L. and Xiong, Y., 2015. Big data analytics and business analytics. Journal of Management Analytics, 2(1), pp.1-21.

Dubey, R. and Gunasekaran, A., 2015. Education and training for successful career in Big Data and Business Analytics. Industrial and Commercial Training, 47(4), pp.174-181.

Laursen, G.H. and Thorlund, J., 2016. Business analytics for managers: Taking business intelligence beyond reporting. John Wiley & Sons.

Lim, E.P., Chen, H. and Chen, G., 2013. Business intelligence and analytics: Research directions. ACM Transactions on Management Information Systems (TMIS), 3(4), p.17.

Ragsdale, C., 2014. Spreadsheet Modeling and Decision Analysis: A Practical Introduction to Business Analytics. Nelson Education.

Sharma, R., Mithas, S. and Kankanhalli, A., 2014. Transforming decision-making processes: a research agenda for understanding the impact of business analytics on organisations. European Journal of Information Systems, 23(4), pp.433-441.

Shmueli, G. and Lichtendahl Jr, K.C., 2017. Data Mining for Business Analytics: Concepts, Techniques, and Applications in R. John Wiley & Sons.

Vera-Baquero, A., Colomo-Palacios, R. and Molloy, O., 2013. Business process analytics using a big data approach. IT Professional, 15(6), pp.29-35.

Wixom, B.H., Yen, B. and Relich, M., 2013. Maximizing Value from Business Analytics. MIS Quarterly Executive, 12(2).

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4 Examples of Business Analytics in Action

What Is Business Analytics?

Business Analytics vs. Data Science

Business Analytics Examples

1. Improving Productivity and Collaboration at Microsoft

2. Enhancing Customer Support at Uber

3. Forecasting Orders and Recipes at Blue Apron

4. Targeting Consumers at PepsiCo

Developing a Data Mindset

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15 Business Analyst Project Ideas and Examples for Practice

Table of Contents

1) Market Basket Analysis

2) Estimating Retail Prices

3) Analyzing Customer Feedback

4) Predicting Avocado Prices

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5) Predicting the Fate of a Loan Application

6) Predicting Customer Churn Rate

7) Prediction of Selling Price for different Products

8) Store Sales Prediction

9) Analyzing Customer Churn

10) Estimating Future Inventory Demand

11) Predicting Coupon Sales

12) Creating Product Bundles

13) Analyzing Log Files

14) Retain Analytics

15) Analyzing Airline Data

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Top Business Analytics Projects to Sharpen Your Skills and Build Your Business Analytics Portfolio

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Best Business Analytics Project Ideas for Beginners

Data on Employee Performance and Resignation

Forecasting Sales of a Mall During December

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Customer Segmentation

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Project Management and Business Analysis

Human Resources

Business Analytics Capstone

Sales Conversion Optimization

Optical Character Recognition

Advanced Business Analytics Project Ideas

Credit Risk Classification Analysis

Sales Data Exploration and Reduction

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University Fundraising

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How to Write a Business Analysis Report [Examples and Templates]

Table of contents

What Is a Business Analysis Report?

Preparation

Set your goals

PRO TIP: How Well Are Your Marketing KPIs Performing?

Assess the Company’s Mission

Stakeholder Analysis

Review Financial Performance

Instantly and Anonymously Benchmark Your Company’s Performance Against Others Just Like You

Examine the “Four P’s”

Evaluate the Company Structure

The Process of Investigation

The Outcome of Each Investigation Stage

Report Summary

Business Report Examples and Templates

KPI Report Examples and Templates

Performance Report Examples and Templates

Executive Report Examples and Templates

Metrics Report Examples and Templates

Small Business Report Examples and Templates