PROBLEM SOLVING IN

BUSINESS MANAGEMENT
Session 5
Introduction to Business
Problem
M.Sc. Thien Nguyen
Email: thien.nguyen@isb.edu.vn
Phone: 0949088908
 Agenda
1. Going Further in EDA
2. Raising Questions for Business
Analysis
3. Practice
 Making Questions
Part I and Answering

Going Further in
EDA

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IV. Going Further in EDA

➤After basic analyses, we can go further by making new questions

Generating Use the answers to

Finding answers by
questions (or refine the questions
analyzing, modeling
hypotheses) about and generate new
and visualizing
the data questions

Source: https://r4ds.had.co.nz/exploratory-data-analysis.html
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IV. Going Further in EDA

➤A SMART way to ask questions about the data

(Google Data Analytics Course: Ask Questions to make Data-Driven
Decisions)

Source: Ask Questions to Make Data-Driven Decisions

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IV. Going Further in EDA
Example

➤Which weekday has the highest sale in terms of no. of orders?

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IV. Going Further in EDA
Example

➤Which weekday has the highest sale in terms of no. of orders?

⇒ Functions: =WEEKDAY(A2, 1) or =TEXT(A2, "ddd")

Sometimes MS Excel may

not format DATE correctly

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IV. Going Further in EDA
Example

➤Which weekday has the highest sale in terms of no. of orders?

⇒ Functions: =WEEKDAY(A2, 1) or =TEXT(A2, "ddd")
We have to format by ourselves.
There can be many solutions.

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IV. Going Further in EDA
Example

➤Which weekday has the highest sale in terms of no. of orders?

⇒ Functions: =WEEKDAY(A2, 1) or =TEXT(A2, "ddd")

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IV. Going Further in EDA
Example

➤Which weekday has the highest sale in terms of no. of orders?

⇒ Functions: =WEEKDAY(A2, 1) or =TEXT(E2, "ddd")

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IV. Going Further in EDA
Example

May you have other questions/hypotheses?

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IV. Going Further in EDA
Example

May you have other questions/hypotheses?

Any ideas with Time?

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IV. Going Further in EDA
Example

May you have other questions/hypotheses?

Any ideas with Total

and Date?

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IV. Going Further in EDA
Example

Some possible questions

If the number of branches > 20 Top 5 best branches?

Top worst branches?

If the number of products > 100 Top 10 highest sold products?

If there are people Top 10 best sellers?

(customers, staffs) Top 10% most valuable customers?

Time (hour, minute) Which time of the day is the most busy? least busy?

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 Summary
What categories?
With Data Fields
(columns) Frequency of each
Name, meaning, Qualitative category?
relationship?
Descriptive measures
of each category
Data type? Making Questions
EDA Univariate analysis: & Answering
No. of missing - Descriptive measures
Quantitative - Outliers? Abnormals?
values?
Multivariate analysis:
Common errors? Covariance? Correlation?
Duplicates?
Qualitative &
Quantitative Inferential statistics:
Regression? Clustering?
Analysis

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 Part II

Raising Questions for

Business Analysis

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Looking at Different Aspects
Aspects Numbers

The whole business Total sales, revenue?

Total channels
Total products/SKUs? …

Location Cities
Stores/branches

Product Category
Sub-category
SKU

Customer Genders
Customer types/groups

….

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 Raising Questions

Aspect Condition Questions

Store / branches If the number of branches > 20 Top 5 best branches?

Top worst branches?

Product If the number of products > 100 Top 10 highest sold products?

Staff If there are people Top 10 best sellers?

(customers, staffs) Top 10% most valuable customers?

Time Time (hour, minute) Which time of the day is the most busy?
least busy?

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Practice
THANK YOU