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

Business Data Analysis - Essay ExampleTo achieve an inclined move amid a competitive environment the management finds it appropriate to acquire the services of a Business Data Analyst/Statistician. Since there was enormous data preserve 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, quantity 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 similarly be used. The sampling/grouping of data according to the recommended intervals would also be incorporated. This analysis wo uld be conducted for different types of problems in the company to produce conclusions and recommendations for an overall betterment of the company. The main goal is to achieve optimization either through and 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 ingenious 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 generally 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 customers orders. Their business prospered where large population of humans populate 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 include hydraulic seals, gauges, pump cylinders and all other related spare parts etc. Through the first few years absence or genuinely 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 brutal Force strategy for marketing. This resulting in an increase in demand of the companys products but unfortunately the inexperienced family run business could not bide the increase in number of orders and their system collapsed. The head billet in Florida was not the companys only outlet. By the early decades two new outlets at Arizona and Ohio had also become operational. However, the lack of p roper maintenance and handling of inventory in all 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 companys 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