Table of Contents

a) Context: Key changes and trends........................................................................................4

b) Plan: Analytical approach...................................................................................................4

c) Analysis..............................................................................................................................5

i. Data:................................................................................................................................5

ii. Analysis...........................................................................................................................5

d. i) Conclusions and recommendations..................................................................................10

ii) Advanced techniques such as econometric analysis........................................................11

Reference list............................................................................................................................13

e. Board Summary....................................................................................................................15
a) Context: Key changes and trends
The key changes and trends which help in leading the importance of data analysis in an
organisation like Bangles are explained here. In an organisation, it is important to analyse the
data so that the information which is not clear will be approachable through the help of
analysis. The organisations will make business decisions in a much better way. In the current
scenario, data analytics is implemented as it is considered as one of the processes that help in
examining the data and provide information (Williams Suler and Vrbka, 2020). With the help
of data analytics technologies and techniques, it is beneficial for the organisation in analysing
the data set and in gathering new information. Further, there is the use of business
intelligence which helps in solving queries related to the issues of operations and
performance of the organisation.

Nowadays, organisations use the data analytics system and software which help in making
the decisions that will be based upon data and will help in improving the outcomes related to
business. There are several benefits in using a data analytics system that an organisation
should take advantage of that includes new revenue opportunities, improved operational
efficiency, effective marketing, and customer personalization (Svensson and Taghavianfar,
2020). There are several data which is used that are provided by third-party providers.
Additionally, the applications that are used for streaming are very common with the big data
environment as the user usually performs the real-time analytics on the system with the help
of a stream processing system. With the help of data analytics, it helps in analysing the data
in large amounts from various sources and in different formats (Tian et al., 2019). Using data
analytics helps in making better-informed decisions that benefit the organisation to have an
effective strategy and further help in the improvement of operations and supply chain and
several areas of making strategic decisions. With the cost savings, it will result to have new
process efficiencies and help in optimizations. Further, it provides a better understating of the
consumer needs and sentiment that will help in leading the better insights of the marketing
process and in product development.

b) Plan: Analytical approach

Implementing the data analytics helps in understating the implications in deciding at the time
of building a project or through the business model. Through data analytics, it helps in the
preparation of both knowledge and prediction. It provides information related to the present
market scenario and the changes in procedure that will help in the new product development

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which will help in fulfilling the need of consumers (Almius and Elmeljung, 2020). Data
analytics help organisations in the identification of potential opportunities and reorganise
operations or help in profit maximization.

The data is more accessible and it can be used by anyone, so it will help in increasing
productivity and help in the process of decision making. For an organisation, data analytics is
considered as one of the important tools which help them in many ways. If all the data is
bought together, it will help the organisation to get real-time insights with the help of sales,
product development, finance, and marketing (Berndtsson et al., 2020). Several insights will
help in enabling organisations in achieving better results, a better collaboration of internal
management, and is outperforming the competition. The data analytics help employees in
viewing data as per the context and to have better business decisions and further help in
achieving the product and services. Sometimes, as there is a large volume of data that is
provided it is quite in managing, but the data analytics tool helps in handling the data and in
providing insight out of it.

c) Analysis
c.i) Data Cleaning
The process of data analytics can be divided into four steps which are discussed below:

a) Firstly, the data professionals can able to collect data from different sources. As the data
which is collected will be in a semi-structure and unstructured manner, then the
organisation will have to the data streams.
b) Secondly, the data will be processed. After the collection of data, the data professional
will organise and will make partitions so that they can analyse the data appropriately.
With the data processing, it will help in making higher performance.
c) Thirdly, the data will be cleansed for quality. The data professionals will help in
scrubbing data which is done with the help of software. The analyst will have a look at if
there are any errors or mistakes involved.
d) Lastly, with the help of the various tool, it will analyse the data which is collected, then
processed and cleaned.

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c.ii) Analysis
Clear Evidence of data

Here t test has been considered to figure the distinctions in among the groups and inside the
groups. The value that comes from the test are known as t test. The key reason to determine
the t test is to find out whether null hypotheses correct or the alternative hypothesis is correct.
To understand a calculation is done that goes align with the situation of the company. As the
company management is in confused state that whether implicating as got significant in
increasing the sales of the company or it has no impact is increasing the sales of the company.

Null Hypotheses (HO) = 0: An organisation can get positive impact in sales through
marketing campaign

Alternative Hypotheses (H1) ≠ 0: An organisation will not get positive impact in sales
through marketing campaign.

Relevant Commentary

From the results derived above it states that the value of t is higher than 0. It means that the
organisation will get positive impact if it applies marketing campaign. As it will have a
significance in the result of the case. The value of the t from the point of sales value is 0.55.

On the other hand, from the outlook of sales volume it shows that if marketing campaign in
implied to increase the sales of the company, then the company will get adequate result. The
value of the sales volume from this test is 0.80, it means that the value of it is higher than 0.

By taking the evidence from the above analysis it shows that if the company undertakes
campaign to increase the sales of the bangles then it will observe hike in the sales. Else, it
will not observe a hike in the sales if it does not undertake the marketing campaign.

d. i) Conclusions and recommendations

Here a summative and formative data has been included to know the changes that is
happening in the nation and also what is the sales value and volume of in different years., to
understand that in which year maximum sales result is observed.

To experience more sales the company can follow the following steps to accelerate their
revenue.

 Video

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 By this way the company can teach their audience in which different way a bangle can be
styled with the outfit. Also, which type of bangles are a good fit for which occasion. So
that people can get a conception about using it after buying.

 Blog

It is helpful for people who needs more insightful and additional information regarding
bangles. This could be by writing nay facts, myths or traditional that are associated with
bangles.

Although the company has no such specific concern, but the company needs to keep
themselves updated with the latest fashion, so as to keep themselves ahead from the
competition.

d. ii) Advanced techniques such as econometric analysis

In evaluating the marketing methods which is used by Bangles, it can be suggested to use
advanced marketing techniques which can be econometric analysis that will help in enhance
marketing effectiveness. With the help of the econometric model, it helps in determining the
relationship which can be seen between economic factors and the performance of the
organisation (Feng and Wang, 2019). Through the help of these models, it will help in
making decisions and positions for growth with further developments considered. Developing
an econometric model will help in projecting revenue based upon different scenarios.

The econometric models are used for forwarding thinking situations and it helps in
illustrating the conditions which are based on the long term. There are macro scenarios that
are used for the development of strategic plans that affect the key market and the indicators of
the business. In implementing this Bangles will have a more detailed and quantitative
understanding based upon the scenarios (Müller and Vom, 2018). The models can be further
developed with short-term scenarios at the time of executing strategy which the organisation
has already adopted. At the time of building an econometric model, several considerations are
prepared based upon the data and the organisations can have an impact upon the results.
There are several factors and on basis of adjustment made it will have an impact upon that
model (Liu and Lin, 2019). Seasonal adjustments which are based upon the macroeconomic
data can be adjusted at annual rates, thus the organisation data have to be adjusted so that it is
quite meaningful. At the time of mergers, the organisations may have mergers which are
occurred in the past (Liu, Zhang and Zhou, 2018). It is quite necessary to include the data

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which is applicable from the organisation that is acquired and the overall revenue based upon
the acquisition. Using the performance which is from the current state of the organisation will
lead to inaccurate correlations. Some considerations are to be provided by divestitures
(Burkhanov, 2020). Another factor can be lag, at the time of growth performance it does lag
the economy and there are other variables for several reasons. The model has to be build up
based upon considerations of nature and there are possible reasons for lags. For an
organisation that has a diverse business, using one model will not help in reflecting the
reality. There are separate models which are required for the business segments. Sometimes,
it can be quite difficult in finding the significant correlation which can be seen between the
organisational performance and the economic factors that are presented (Rehman et al.,
2017). The relationship can be established more easily which is between the growth of an
organisation and the growth through the conversion of data and before the regression. There
can be some one-time effects which can be the non-economic event that affects the
organisation. It is necessary to focus as it is necessary to adjust the organisational
performance based upon the impact.

For strategic planning, there is the use of scenario-based planning that will help in revenue
projections that are created by the econometrics model and consider leadership as the input
for consideration of planning and in managing the organisation. The main success of this
model is for credibility which can be gained through the entire process (Zeng et al., 2019). It
is done with the help of a slow maturation process, which is not only of the model but also it
helps with the key stakeholder relationship. Through the development process, as per
reviews, it is much more interactive which is between the stakeholders and preparing the
model. For the success of the model, it is important to have the confidence of shareholders
and to take feedback from them (Sheng, 2020). An organisation must implement scenario-
based planning in the process and once the econometric model is prepared, the financial
impact based on scenarios is established. With a perfect scenario-based palming and using the
econometric analysis, it will help in enhancing the competitive advantage of the organisation
which will make it nimbler and will adapt to the changes in the global environment.

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e. Board Summary

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