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
- 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:
- Discuss the functions of descriptive statistics in business analytics
- 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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