Statistical analysis of business data report

Reference no: EM133675010 , 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

Reference no: EM133675010

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