Business Data Analysis Essay Example | Topics and Well Written Essays - 3000 words - 1

Business Data Analysis - Essay Example To achieve an inclined trend amid a competitive environment the management finds it appropriate to acquire the services of a Business Data Analyst/Statistician. Since there was enormous data recorded already it was hooped that the analysis of this data would more likely produce some beneficial results and recommendations. This report is aimed to conduct the data analysis for the company. This would be done in pursuance of the newly hired business data analyst. This analysis would contain the basic and advanced statistical practices including evaluation and analysis of different statistics. These include Mean, Median, Mode, Standard Deviation, Variance, Coefficient of Variance and Inter-quartile ranges. Since graphical representations play key role in trend analysis, the histograms, PIE charts and Bar charts would also be used. The sampling/grouping of data according to the recommended intervals would also be incorporated. This analysis would be conducted for different types of proble ms in the company to produce conclusions and recommendations for an overall betterment of the company. The main goal is to achieve optimization either through minimization of cost incurred or maximization of profit and to highlight the possible risks the company may encounter in future. INTRODUCTION The scenario involves the business strategies of an Industry named Handy Hydraulics Limited. This company was founded twenty years ago by the Douglas family. Ever since then the company has steadily grown. The first five years being stable, enabling the company to hold its grounds and establish its mark. The merchandise that Handy Hydraulics dealt with were related to Hydraulics as its name suggests. They were not the manufacturers of hydraulics but mainly were distributors and vendors that repaired spare parts. The most the company did was to pack the goods under their name in accordance with the customer’s orders. Their business prospered where large population of humans inhabit ed land. This was because more the inhabitants the more was the use of garbage trucks and other construction related machinery in the area. Thus, resulting in requirements of hydraulic parts whenever their need arose. The parts that the company dealt with included hydraulic seals, gauges, pump cylinders and all other related spare parts etc. Through the first few years absence or very little presence of marketing did not inhibit a teady growth of the company sales. The late 1970s and early 1980s saw the application of the Brute Force strategy for marketing. This resulting in an increase in demand of the company’s products but unfortunately the inexperienced family run business could not stand the increase in number of orders and their system collapsed. The headquarters in Florida was not the company’s only outlet. By the early decades two new outlets at Arizona and Ohio had also become operational. However, the lack of proper maintenance and handling of inventory in al l the outlets resulted in a havoc. It was decided that the company be sold to BMP Enterprises. METHODS Q1. (a) Construct histograms and relative frequency distributions of the company’s daily average order size (total sales divided by total orders) for quarters 1 and 2. For each chart, use interval widths of 20 and let the first interval run from 0 to 20. After the initial observation of data it is noted that there exists one entry of