Question: When it comes to understanding, processing, analysing, and communicating data in the contemporary business environment, the old techniques do not work. Hence, there is a

  1. When it comes to understanding, processing, analysing, and communicating data in the contemporary business environment, the old techniques do not work. Hence, there is a need for data visualization.

(1a) Explain the role and nature of business analytics in generating value from data

(1b) Explain the role of data visualization

(1c) Mention and discuss different techniques of data visualization

(1d) Use the information provided below to plot a line graph and analyse the information presented.

S/N Month Product A Product B Product C Product D Product E Product F
1 January 5960 7803 4350 4350 5460 8567
2 February 9567 3867 4056 2235 4543 4948
3 March 7896 4958 5094 3456 4256 6987
4 April 6784 7184 5145 5786 6146 8568
5 May 6464 6578 5234 4567 4987 6758
6 June 4256 6134 3876 3950 4776 8175
7 July 5937 5890 5900 3100 5673 7894
8 August 7484 9484 8473 1485 3818 3910
9 September 6938 5467 4239 3028 5049 6785
10 October 9485 3245 3048 2847 5588 7492
11 November 8567 4568 3145 2847 4875 6214
12 December 8458 5068 3857 3937 6847 7085

2. As a Business Analytics expert, you have been hired by Tasty Desserts Plc to advise the company about which financial models to use in light of the economic challenges of COVID-19 and Brexit. Describe and evaluate different types of business analytics and advise the company accordingly.

3. In today's marketplace, business analytics have proven to be a useful tool for assessing organizational performance. As a result of this background, evaluate the benefits of business analytics for a business organization -

4. Answers below questions:

  1. Discuss the functions of descriptive statistics in business analytics
  2. Using the variables as shown in Table 2, describe and summarise the data in a logical, meaningful, and efficient way
Days Profit (thousands) Number of sold items Number of the remaining items
1 58 200 100
2 59 247 124
3 64 294 147
4 68 341 171
5 74 388 194
6 77 435 218
7 78 482 241
8 81 529 265
9 84 576 288
10 86 623 312
11 87 670 335
12 88 717 359
13 90 764 382
14 92 811 406
15 93 858 429

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