BUS5PB Principles of Business Analytics Assessment
- Subject Code :
BUS5PB
Learning Objective
The first assignment aims to assess analytical thinking as well as technical skills in the use of self-service
analytics software packages to develop an analytics solution. You are required to understand the
business context, apply the analytics software packages to explore the given dataset to unveil the
business insights and make analytics recommendations. You are also tasked to develop an analytics
report to convey your findings.
The Context
In the past two decades, the pharmaceutical, personal care, and nutritional industries have converged to
address growing demands in the beauty, health, and wellness market. This convergence has resulted in
the formation of the new industry segments – Nutraceuticals, Cosmeceuticals and Nutricosmetics.
- 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 approximately 45%
You have recently joined a start-up analytics consultancy firm as an Insights Specialist. The first task is to
analyse the emergence of these industry segments in Australia. An end-user survey has been already
conducted and the data is available for your perusal. Your line-manager has not laid out any specific
expectations; however, he has re-iterated the need to ‘understand these industry segments, consumers,
the potential markets and opportunities’.
The Survey
Are you a regular consumer of beauty, health and wellness products?
(Data was only collected from regular consumers of beauty, health and wellness products.)
| Question | Corresponding column in data file |
| Which state do you live in? | State |
| Select your annual income from the following three options. Income ($) (<50> 100,000) |
Income ($) |
| Select your age band from the following options Age Band (<30>70) |
Age Band |
| Select your gender. Gender (F for female; M for male) |
Gender |
| How would you like us to contact you? Please select only one. Channel (Social Media; Email; Post) |
Channel |
| In which type of products are you most interested? Product Type (Nutraceuticals; Nutricosmetics; Cosmeceuticals) |
Product Type |
| How much would you be willing to spend monthly on this type of product? Monthly ($) (<$50; $50-$100; >$100) |
Monthly ($) |
| In which form are you most comfortable to consume this type of product? Form (pills; beverage; food) |
Form |
| How confident are you of the results from using the products? Confidence Rating (1-5; 1: least confident and 5: most confident) |
Confidence Rating |
| How confident are you to recommend to a friend? Recommendation Score (1-10; 1: least confident and 10: most confident) | Recommendation Score |
The dataset BUS5PB_Assignment1_datafile.xlsx contains the data collected from 360 participants. There
are eleven (11) columns in total as the data file starts with an ID column as an identifier for each row.
Your Tasks
Task 1:
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.
Task 2:
Develop two analytics solutions to analyse the dataset using data visualisation software packages.
• It’s mandatory to use MS Excel as the first software to build the first visualization dashboard
• It’s mandatory to use Power BI as the second software package to build the second visualization
dashboard
It is recommended to explore insights among data to pinpoint characteristics of each segment – for
example, age or gender distribution for product type.
Task 3:
Based on the insights obtained from the analytics solutions and any external sources of information,
recommend effective marketing strategies (market opportunities, targeted customers, channels for
campaigns, 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.
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