MBA504 Introduction to Data Analytics for Business Case Study 2 Sample
Your Task
Identify an organisation that you are familiar with and propose a data analytics application that will create efficiencies.
Assessment Description
In this assessment, you will be required to identify an opportunity for the development of a data analytics-based application within an industry that is meaningful to your current or future occupation or career.
Assessment Instructions
In this assessment, you need to consider an organisation in an industry of your choice and articulate the steps needed to enable data driven decision making. In order to effectively address the requirements of this assessment you need to be familiar with the operations of the company (i.e. ideally the company you are working for, have worked for, or a company you intend on founding).
Submit a rough draft outlining the topic, the company and approach to your facilitator by week 8. Failure to do so may result in Limited Achievement Grades being awarded.
Key points to cover
• Describe the current mode of operation
• Possible inefficiencies
• Available data sources with references
• How this data may be used to provide efficiencies based on the concepts and techniques covered in the subject
o Describe in detail the type of analytic techniques you would use
o Preliminary analysis of a sample dataset would be a bonus
• Describe outcomes and methods of communication to stakeholders
o Use example visualisations – what visualisations would you use and why?
The final report needs to be uploaded to Turnitin.
Solution
Introduction
The main aim of the project is to gain insights into consumer preferences and feedback regarding Nike shoes by analysing a dataset containing information on Nike shoe sales, customer reviews, and ratings. University assignment help, This examination can give important data to Nike and other shoe brands as far as item configuration, stock administration, and advertising techniques. Furthermore, buyers can profit from the bits of knowledge acquired from the investigation while arriving at informed conclusions about buying Nike shoes in light of the encounters of different clients. Generally, the objective of the undertaking is to give efficiencies and further develop benefit and consumer loyalty for Nike and different partners.
Current Mode of Operation
Nike works as a producer and retailer of athletic shoes and clothing. As of now, Nike depends on different channels to offer their shoes to clients, including their own site, retail locations, and outsider web-based retailers like Amazon. While these channels permit Nike to contact a wide crowd, they likewise make difficulties regarding stock administration, evaluating, and showcasing techniques. Nike's stock administration framework should be sufficiently proficient to guarantee that the famous shoe models and colourways are consistently in stock while limiting overloading. Moreover, evaluating methodologies should be changed in view of the apparent worth of the shoe and the opposition. At last, showcasing procedures should be created to target clients across different stages actually (Mahdi et al., 2015).
Possible Inefficiencies
One possible inefficiency of Nike's current operation is that it may not be fully utilizing the available customer data to gain insights into consumer preferences and trends. Additionally, Nike's focus on traditional marketing methods may not be sufficient to reach its target audience in the digital age. Without data-driven insights into consumer preferences and feedback, Nike may be making product design and marketing decisions based on assumptions or incomplete information. This could lead to inefficiencies in product development, inventory management, and marketing strategies, resulting in missed opportunities and decreased profitability (Alazzawi, 2019).
Available Data Sources
The customer review data can be accessed through the Nike website and Amazon, and the sales data can be obtained from retailers or by web scraping. Additional data sources could include sales data from physical retail stores and demographic information on customers, which could be used to better understand consumer behaviour and preferences. The complete dataset is later accessed from Kaggle and worked on it entirely.
Using this data to provide efficiencies
This data can be analysed using various techniques to gain insights into consumer preferences and trends, which can inform product designs, marketing strategies, and inventory management. By analysing the customer review data, Nike can identify the features and characteristics that customers value most in a shoe and incorporate those into future product designs. Additionally, retailers can optimize their inventory and marketing strategies based on popular models, sizes, and colourways.
Analytic Techniques
To analyse the data, various analytical techniques can be employed, such as sentiment analysis, topic modeling, and regression analysis. Sentiment analysis can be used to determine the overall sentiment of customer reviews and ratings, while topic modeling can be used to identify the key topics that customers are discussing in their reviews. Regression analysis can be used to identify the factors that influence the sales of Nike shoes. But the technique used to best visualize is Tableau Software, where the results are presented visually and interactive and easy to understand in total.
Tableau is an information representation and business knowledge instrument that empowers clients to make intuitive and outwardly engaging dashboards, reports, and outlines. Tableau is utilized to dissect and introduce information from different sources and arrangements (Murray, 2013).
There are a few logical methods that can be utilized in Tableau to dissect and envision information. Here are a few normal strategies:
Pattern Examination: Pattern investigation is utilized to recognize patterns and examples in information over the long run. In Scene, this should be possible by utilizing line graphs, bar outlines, or region diagrams to show the adjustment of information over the long run (Chabot, Stolte, and Hanrahan, 2003).
In the first place, it is utilized for a pattern examination method to distinguish changes in client evaluations after some time. It is to make a line outline showing the typical rating by month, and afterward add a pattern line to distinguish any massive changes in evaluations over the long run. This will assist us with recognizing any examples or patterns in client criticism.
As far as correspondence to partners, we can utilize different representations, for example, line outlines, stacked bar diagrams, and guides, to introduce our discoveries and proposals. We can likewise make intuitive dashboards that empower partners to investigate the information and drill down into explicit areas of premium. These perceptions can assist partners with understanding the experiences from the information and make a move to address client concerns (Putra and Ningrum, 2019).
Preliminary Analysis
As a preliminary analysis, a sample dataset containing customer review data for Nike shoes sold on Amazon can be used. This dataset can be analysed using sentiment analysis and topic modeling to gain insights into consumer preferences and trends. The frequency of each sentiment can be plotted using a bar chart or pie chart, providing an overview of the overall sentiment of customer feedback. Word clouds can also be created to visualize the most frequently occurring words in customer reviews.
Outcomes and Visualizations
The outcomes of this analysis can be communicated to stakeholders through various methods, such as reports, dashboards, and visualizations. Reports can provide a comprehensive summary of the findings and recommendations for Nike's inventory management, pricing, and marketing strategies. Dashboards can provide real-time insights into sales, inventory levels, and customer feedback.
The first visualization carried out is about the brand Nike and all of its product comparison with the total purchase count of that product. The form of presentation is a tree map. Tree maps are interactive and can be used to drill down into data and explore different levels of the hierarchy. Users can click on a rectangle to zoom in and see more detailed information about a specific data element. They offer a range of advantages, including efficiency, ease of understanding, interactivity, flexibility, and customization.
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Figure 1: Visualization no. 1.
The product with highest count of sales in Nike brand is the Nike Air Max 90 with the total count of sales of 14, followed by the product Nike Air Max 270 React of count of 9, followed by Nike Air Max 97 count of seven and next is the Nike Air Zoom Pegasus 36 with the count of 6 and so on (Deardorff, 2016). Later all products have a minimum count of one at least. It can be seen in the heatmap that the number of products are way too much, it means Nike offers a wise range of options for their customers, kind of customized products. As the tree map box get smaller the count of product purchased gets smaller too. It can be used and presented to the shareholder to understand the sales an the products that are huge in demand, it can more be understood by taking some customer information, to understand which customers prefer which shoes the most with the help of few attributes like size, comfort, shape and soul of the shoes and its detailed comparison.
Now moving to the next visualization, which is about the Products type or name and their comparison based on the sales price, listing price and the discounted price.
The visualization is in the form of pie chart, where all the products are presented systematically and properly.
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Figure 2: Visualization no. 2.
The first product is Nike Air Max with sale price of 1,35,138 and the listing price of 47,480, which means that the number of products purchased till date into listing price is the sales price, with zero discount or change in price. There are vey few products with discounted price and rest are maximum with zero discount. The next product is Nike Zoom Pegasus Turbo 2 with the sales price of 76,777 and the listing price of 15,995. So, the interpretation would be the same as all. this product also has a discount price of zero. the next product is Nike MX-720-818 with the listing price of 15,995 and the sales price of 75,177 and zero discounted price (Chang, 2014).
Next, the visualization is about the Product name and the reviews and ratings comparison between them.
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Figure 3: Visualization no. 3.
The air Jordan 10 Retro has a overall rating of 4.70 and total number of reviews are 223, followed by Nike Air Force 1/07 with the rating of total 9 and total number of reviews are 145 for it. Next, is the Nike Air Max 270 with the rating of 7.70 and total reviews for it are 144, followed by the Nike Zoom Fly with the ratings of 4.30 and total number of reviews of 105. the Nike React Infinity Run Flyknit has a total rating of 8.80 and total number of reviews are 97. The main of this visualization is to understand the ratings and reviews of the Nike product (Anana, and Nique, 2010).
The lowest products with the least number of reviews are Nike SB Blazer Low XT with the rating of 5.00 and the least number of reviews is one with the rating of 5.00 and the product name is Air Jordan 8 Retro.
The dashboard format of all the visualization and the results are presented below:
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Figure 4: Dashboard.
These visualizations can help stakeholders gain a better understanding of the data and the insights gained from the analysis.
Here are some potential problems that Nike could face:
Supply Chain Management: Nike's success depends on its ability to manage its supply chain efficiently.
The organization needs to guarantee that it can source unrefined substances, fabricate its items, and convey them to clients in an ideal and practical way. Any disturbances or defers in the production network could affect Nike's capacity to fulfil client need and result in lost deals.
Supportability: As shoppers become progressively aware of their ecological effect, manageability has turned into a urgent issue for Nike and different organizations in the games and wellness industry. Nike requirements to address its ecological effect, like diminishing fossil fuel by products, limiting waste, and involving feasible materials in its items, to satisfy the needs of its earth cognizant clients.
Brand Picture: Nike's image picture is fundamental for its prosperity, and any bad exposure could altogether affect its standing. The organization should be proactive in resolving any issues that could harm its image picture, for example, unfortunate work rehearses or deceptive conduct by its representatives or providers.
Contest: Nike works in a profoundly serious market, and it faces solid rivalry from other laid out brands and arising organizations. The organization needs to proceed to enhance and offer excellent items to remain in front of the opposition and keep up with its market position.
To address these difficulties, Nike can utilize information examination to acquire bits of knowledge into client inclinations, store network tasks, and market patterns. By investigating information on deals, client criticism, and other key measurements, Nike can distinguish regions where it needs to work on its activities and foster methodologies to conquer the difficulties it faces.
For instance, Nike can utilize prescient examination to figure interest for its items and enhance its inventory network to guarantee it can satisfy client need. It can likewise utilize opinion investigation to screen web-based entertainment and different hotspots for any regrettable remarks about its image and find proactive ways to resolve any issues. As far as correspondence to partners, Nike can utilize representations, for example, line diagrams and structured presentations to convey its encouraging in tending to these difficulties.
For instance, Nike can utilize a line outline to show its encouraging in decreasing fossil fuel byproducts after some time or a reference diagram to contrast its maintainability execution and that of its rivals. Such representations can assist partners with understanding Nike's advancement and its obligation to tending to these difficulties.
References
Alazzawi, A.A., 2019. Brand personality dimensions of Nike sportswear-an empirical analysis. Journal of Business and Retail Management Research, 13(4).
Mahdi, H.A.A., Abbas, M., Mazar, T.I. and George, S., 2015. A Comparative Analysis of Strategies and Business Models of Nike, Inc. and Adidas Group with special reference to Competitive Advantage in the context of a Dynamic and Competitive Environment. International Journal of Business Management and Economic Research, 6(3), pp.167-177.
Anana, E. and Nique, W., 2010. Perception-Based Analysis: An innovative approach for brand positioning assessment. Journal of Database Marketing & Customer Strategy Management, 17, pp.6-18.
Putra, P.Y. and Ningrum, S., 2019, February. The Influence of Celebrity Endorser, Brand Image, and Brand Trust on Consumer Purchasing Decisions of Nike Brand Sport Shoes In Surabaya. In Journal of World Conference (JWC) (Vol. 1, No. 1, pp. 208-218).
Chang, C.Y., 2014. Visualizing brand personality and personal branding: case analysis on Starbucks and Nike's brand value co-creation on Instagram. The University of Iowa.
Murray, D.G., 2013. Tableau your data!: fast and easy visual analysis with tableau software. John Wiley & Sons.
Chabot, C., Stolte, C. and Hanrahan, P., 2003. Tableau software. Tableau software, 6.
Deardorff, A., 2016. Tableau (version. 9.1). Journal of the Medical Library Association, 104(2), pp.182-183.
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