Reference no: EM133675011 , Length: word count:1000
Report - Statistical Analysis of Business Data
Objective
This assessment item relates to the unit learning outcomes as in the unit descriptor. This assessment is designed to give students experience in analyzing a suitable dataset and creating different visualizations in dashboard and to improve student presentation skills relevant to the Unit of Study subject matter.
Case Study:
You are a data scientist hired by a retail company, "SmartMart," which operates a chain of grocery stores. SmartMart has been in the market for several years and has a significant customer base. However, the company is facing challenges in optimizing its operations and maximizing profits. As a data scientist, your task is to analyze the provided dataset and identify areas where data science techniques can be applied to create business value for SmartMart.
Dataset:
The dataset provided contains information on SmartMart's sales transactions over the past year. It includes data such as:
Date and time of each transaction
Customer ID
Product ID
Quantity sold
Unit price
Total transaction amount
Store ID
Tasks:
Apply appropriate statistical analysis techniques to extract valuable information from the dataset. This may include but is not limited to:
Descriptive statistics
Correlation analysis
Hypothesis testing
Time-series analysis
Identify key findings and insights from your analysis that can help SmartMart make data-driven decisions to optimize its operations and increase profitability.
Present your analysis results in a clear and concise manner, including visualizations and explanations where necessary.
Provide recommendations on specific strategies or actions that SmartMart can take based on your analysis.
Attachment:- Statistical Analysis of Business Data.rar