Business Data Analysis - Essay Example

Download file to see previous pages The purpose of this report is to conduct the data analysis for the company’s business data analyst. In order to conduct this data analysis techniques such as sampling of data, finding out of the mean, mode, median , construction of histograms and other graphs, resolution of standard deviation and cumulative frequency upon samples of data would be implemented. The application of analysis techniques upon samples of data would enable the analyst to assess whether the company was prospering or not. The resultant of the analysis would also be an account of the future standings of the company if the present management strategies are maintained. The results of the data analysis would enable the analyst to suggest to the company’s ownership what course should their management strategies take in order to achieve maximum profits in the future. INTRODUCTION Laurel McRae, an experienced data analyst and strategic planner was assigned to conduct a comprehensive quantitative analysis based on statistical measures for Handy Hydraulics. Working for more than 20 years HH Industries has a long history of distribution. It started its operations as a family-owned business of the Douglas family, tracked down part sources, resold directly under the manufacturer’s name, or resold packaged individual parts into repair kits in its own name. During its initial five years business of the industry grew steadily; emphasis given on word of mouth and market niche. However, little marketing provided healthy startup for the organization. Its sales were limited within its headquarters Florida expanded to Alabama and Georgia by 1974 after it produced its first catalogue. Later in late 1970s and early 1980s the prospective customers spread grew up with the outreach of over 25,000 people by use of “Brute-force” marketing by the company. But this expansion couldn’t be controlled by the typical family-owned company, and Handy Hydraulics had to be sold to BMP enterprises (the present parent company). Mr. Douglas remained its president on a contract of 3-years. Emphasis been paid on investing in opening warehouses in Arizona and Ohio in 1985 and 1986 respectively, but neglected the importance of increased competition, management strategies and new technologies, etc. Consequently business couldn’t gain from divestiture. Over the next three years significant changes were brought in when Hal Rogers took office of Handy Hydraulics in 1988 after the retirement of Mr. Douglas. Hal Rogers paid attention on sales, extensively high payrolls and operating expenses by closing the unfruitful walk-in parts counter, and installing toll-free customer order numbers and updating the company’s catalogue into a “throwaway” version with more concise representation of company’s products and finally changing the name to HH industries. It was essential that the effects of the steps by the new president be taken into account so that analysis could be made about those decisions. In order to analyze clearly what effects would the changes produce on the industry’s current processes it was required that the data analyst should be able to produce analytical reports. These analytical reports would be made using all the raw data available with the company. Presentation of these reports to the higher management would enable them to decide future strategies. This is possible because the analytical report ...Download file to see next pagesRead More