Subject: Business Analytics Assignment: Develop a Tier 1 Analytics Solution Reporting and Dashboard using two of these software (not all three just use any two of it) SAP Lumira, IBM Cognos Insight and Microsoft Power BI (about 1500-2000 words) This assignment aims to develop analytical thinking as well as skills in the use of self-service analytics software packages. These software packages comprise the first tier of analytics technology. Context In the past two decades, the pharmaceutical, personal care, and nutritional industries have converged to address growing demands in the beauty, health & wellness market. The convergence has resulted in the formation of new industry segments Nutraceuticals, Cosmeceuticals and Nutricosmetics. Fig 1: Emergence of new industry segments. Cosmeceuticals: topical cosmetic products that have medicinal or drug-like benefits (creams and fortified syrups). Nutricosmetics: supplementation of nutrients that are formulated for beauty care (both oral and topical). Nutraceuticals: products derived from food sources that provide extra health benefits, in addition to the basic nutritional value found in food (dietary supplements and functional food). These three new segments are mainly driven by an increasing awareness and need for preventive healthcare, natural therapies and anti-aging products. The annual global growth rate of all three segments is approximately 4%–8%. A noticeable geographical dominance is observed in different segments, China and Japan are key Nutricosmetic markets accounting for 90% of global sales, while the USA dominates the Nutraceutical category at approx. 45%. You have recently joined N-vision, a leading analytics consultancy firm as an Insights Specialist. The first task assigned to you is to analyse the emergence of these industry segments in Australia. An end-user survey has been already conducted and the data available for your perusal. Your manager has not laid out specific expectations, but he has reiterated the need to 'understand these industry segments, the potential markets and opportunities'. The survey (using the excel file attached ) Are you a regular consumer of beauty, health & wellness products? (Data was only collected from regular consumers of beauty, health & wellness products) Question Corresponding column in data file Which state do you live in? State Select your annual income from the following three options. (<50,000, 50,000 – 70,000, 70,000 – 90,000, > 100,000) Income($) Select your age band from the following options (<30, 30-40, 40-50, 50-60, 60-70, >70) Age Band In which type of products are you most interested? (Nutraceuticals, Nutricosmetics, Cosmeceuticals) Product Type How much would you be willing to spend monthly on this type of product? (<$50, $50-$100, >$100) Monthly ($) In which form are you most comfortable to consume this type of products? (pill, beverage, food) Form How confident are you of results? (1-5; 1- least confident 5- most confident) Confidence Rating How confident are you to recommend to a friend? (1-10; 1- least confident 10- most confident) Recommendation Score A total of nine columns as the data file starts with an ID column as an identifier for each row. Tasks • Conduct a business background research to illustrate current market situation and evaluate business initiatives/potentials; • Conduct a critical review of the survey and its outcomes. Suggest improvements to the survey in terms of data coverage and data metrics. You may refer to external sources of information to justify your evaluation; • Develop two analytics solutions to analyse the dataset using only two of these software (not all three just use any two of it) SAP Lumira, IBM Cognos Insight and Microsoft Power BI software packages. It is recommended to explore insights among data to pinpoint characteristics of each segment, for example, age distribution for product type; • Based on the insights obtained from analytics solutions and any external sources of information, recommend effective marketing strategies (market opportunities, targeted customers, channels, etc.) for a potential client intending to enter these new industry segments in Australia. You need to decide on the number of recommendations with a brief justification for your choice. Recommendations should refer to visualisations (a combination of diagrams and charts) from your analytics solutions and external references. Report guidelines 1. The report should consist of a 'table of contents', 'introduction', logically organized sections/topics, a 'conclusion' and a 'list of references'. A cover sheet is NOT required. 2. Choose a fitting sequence of sections/topics for the body of the report. Three sections for the three tasks are essential, you may add other sections deemed relevant. 3. You must include diagrams, tables and charts from the analytics solutions to effectively present your recommendations. (Use Alt + Print Screen to capture screenshots). 4. You must reference any material you use which is not your own using the LTU Harvard Referencing style. Guidelines are available at: http://www.lib.latrobe.edu.au/referencing-tool/harvard 5. Use academic references (Reliable). 6. Page limit: 8 pages (about 1500-2000 words). 7. Reports should be written in Microsoft Word (font size 11), Times New Roman font, at 1.5-line spacing, and paragraphs will be fully justified. 8. Your submission will have the two analytics solution files and a professionally written report. Marking rubric The marking rubric for this assignment is given below. Criterion Target Level Business background research 12% Extensive business background research covering all necessary criteria. Critical evaluation of the survey 25% (very important) Extensive evaluation with consideration for all criteria. Analytics solution 1 13% Exceptional effort to structure and present information and insights. Comprehensive knowledge of the software package. Analytics solution 2 13% Exceptional effort to structure and present information and insights. Comprehensive knowledge of the software package. Recommendations 37% (very important) Recommendations reflect an inclusive grasp of the problem domain, data, insights and expectations. All of the sections above (in marking rubric) are important, but the most important are "critical evaluation of survey" and "Recommendations". Important further information about the subject and learning resources for a good understand of this assignment. Subject: Principles of Business Analytics SUBJECT DESCRIPTION: This subject introduces you to the broad field of business analytics with a strong focus on practical outcomes that are directly applicable to a business environment. It will deliver a comprehensive understanding of current theories, frameworks, applications and technologies that support the modern data-driven decision-making process. You will gain hands-on experience in SAP Lumira, IBM Cognos Insight and Microsoft Power BI as you will use these software packages to design and develop analytics solutions for business problems. The managerial role in planning and implementing business analytics initiatives, methods to capture and measure the business value of analytics and the emerging role of analytics in business performance management (BPM) are also explored in this subject. Upon completion of this subject, you will be able to identify business problems that can be transformed using analytics solutions, understand major issues in implementation, describe the tools from frameworks to techniques, determine business value of analytics outcomes and also appreciate its role in business performance management (BPM). SUBJECT INTENDED LEARNING OUTCOMES (SILOS): 1 Identify the purpose of analytics within a business environment and describe the importance, technologies and implementation issues of business analytics. 2 Understand the function of key elements of a typical analytics solution; the architecture, data management, data analytics, reports and dashboards as well as the role of management and end-users. 3 Recognise the requirements, methodologies and technologies for analytics-based business performance management. LEARNING RESOURCES: Reading Type Title Author and Year Publisher Monograph Data Science for Business Foster Provost and Tom Fawcett, 2013 O'Reilly Media Monograph Business Intelligence and Analytics: Systems for Decision Support Ramesh Sharda, Dursun Delen, Efraim Turban Prentice Hall Monograph The Value of Business Analytics: Identifying the Path to Profitability Evan Stubbs Wiley