Introduction to Analytics

June 2023 Examination

Answer 1

Introduction

The management consulting firm has correctly identified the lack of analytics implementation
as a primary reason behind these issues. To address this, I will provide a roadmap for the
retail chain to implement data analytics effectively and leverage the advantages of predictive
analytics. By doing so, the retail chain can gain valuable insights into future strategies,
optimize operations, and improve their overall performance.

Concept and Application

By following these means, the retail chain can climb the analytics esteem chain and influence
the upsides of prescient analytics to infer significant experiences into future systems.

 Characterize Business Targets: Obviously distinguish the business goals that the
retail tie needs to accomplish through data analytics. This could incorporate further
developing deals, improving stock management, upgrading customer experience, or
lessening costs. Adjusting data analytics objectives with business goals is pivotal for
powerful execution.

 Data Assortment and Reconciliation: Evaluate the current data sources inside the
association, including deals data, customer data, stock data, and outside data sources,
for example, market patterns and contenders' data. Distinguish the holes and decide
the vital data to be gathered or incorporated to empower prescient analytics. Execute
suitable data assortment instruments, like CRM systems or IoT sensors, to catch
pertinent data.
 Data Cleaning and Readiness: Purify and preprocess the gathered data to guarantee
precision, consistency, and culmination. Eliminate copies, handle missing qualities,
and normalize designs. Change and incorporate different datasets to make a bound
together and solid dataset for analysis.

 Data Storage and Management: Lay out a powerful data storage foundation, for
example, a data stockroom or data lake, to store and deal with the gathered and
handled data effectively. Guarantee data security, protection, and consistence with
significant guidelines.

 Data Analysis and Displaying: Perform exploratory data analysis to acquire bits of
knowledge and recognize examples or relationships in the data. Apply measurable
methods and AI calculations to fabricate prescient models that can gauge future deals,
customer conduct, or market patterns. Consistently refine and further develop these
models in light of new data and criticism.

 Perception and Revealing: Foster intelligent dashboards and representations to

introduce the broke down data and experiences in an easy to use way. Use instruments
like Scene, Power BI, or exclusively assembled dashboards to empower partners to
handily investigate and grasp the data. Routinely produce reports and offer them with
pertinent groups for informed navigation.

 Organization and Mix: Incorporate the formed analytics arrangements into the
current systems and work processes of the retail chain. This could include
coordinating prescient models into the CRM system, online business stage, or stock
management system. Guarantee consistent correspondence and cooperation between
IT, analytics, and business groups.
  Constant Checking and Improvement: Consistently screen the presentation of the
executed analytics arrangements and approve the exactness and adequacy of
expectations. Gather input from clients and partners to recognize areas of progress
and refine the models and cycles. Remain refreshed with the most recent progressions
in data analytics and adjust as needs be.

To move up the analytics value chain and leverage the advantages of predictive
analytics, the retail chain should take the following steps:

1. Establish a data-driven culture: The retail chain ought to make a culture that values
data and analytics. This includes instructing workers on the advantages of analytics and
empowering them to utilize data to illuminate independent direction.

2. Invest in innovation and foundation: To carry out analytics really, the retail chain
should put resources into the right innovation and framework. This might include
redesigning existing systems or carrying out new ones to guarantee that data is gathered
and put away in a manner that is open and usable.

3. Hire and train staff: The retail chain ought to recruit and prepare staff who have the
essential abilities to execute analytics really. This might include recruiting data
researchers or experts who have insight in factual analysis, data displaying, and AI.

4. Test and refine models: When the prescient models have been created, the retail
chain ought to test them to guarantee that they are precise and dependable. The models
ought to be refined as important to guarantee that they give valuable experiences.

5. Develop prescient models: The retail chain ought to utilize the data to foster
prescient models that can conjecture future patterns and results. For instance, the retail
chain could utilize prescient analytics to conjecture interest for explicit items and improve
stock levels appropriately.

6. Integrate analytics into independent direction: The last step is to incorporate

analytics into the retail chain's dynamic cycle. The experiences created by prescient
analytics ought to be utilized to illuminate business systems and strategies, for example,
item estimating and advancements.
 7. Use analytics to streamline operations: The experiences produced by prescient
analytics can be utilized to advance operations in different regions, like estimating, stock
management, and marketing. By streamlining these regions, the retail chain can increment
income and work on net edge.

Conclusion

Executing data analytics and utilizing prescient analytics can give the retail chain important
bits of knowledge into future methodologies and assist with conquering the difficulties of
declining deals and net edge. By following the recommended guide, the retail chain can lay
out serious areas of strength for a for data-driven direction, enhance their operations, and
work on in general execution. It is fundamental to ceaselessly screen and refine the analytics
answers for stay cutthroat and adjust to changing market elements. With the force of data
analytics, the retail chain can pursue informed choices, upgrade customer encounters, and
accomplish supportable development.

Answer 2

Introduction

The growth of food-tech new companies in India has been filled by changing consumer
inclinations, technological headways, and ideal economic situations. With the rising internet
entrance, cell phone utilization, and a youthful working populace, the Indian food-tech
industry has seen critical development and disturbance. This area has changed the manner in
which individuals order, get, and partake in their dinners, giving accommodation, assortment,
and upgraded eating encounters. In this time of digitalization and advancing consumer
requests, food-tech new businesses have arisen as creative players, utilizing technology and
information to take special care of the developing necessities of customers.

Concept and Application

Food-tech start-ups use analytics to make data-driven decisions in several areas to maintain a
competitive edge. Here are six key areas where they apply analytics:
Changing Consumer Conduct: The change in consumer conduct towards comfort, efficient,
and on-request benefits has made a fruitful ground for food-tech new companies. Occupied
timetables, urbanization, and a longing for consistent encounters have driven consumers to
embrace online food conveyance stages and computerized ordering choices.

Food-tech new businesses influence analytics in different key regions to settle on information
driven choices and keep an upper hand in the unique food industry. The following are 6 key
regions where analytics is usually used by food-tech new companies:

1. Customer Division: By investigating customer information, like socioeconomics,

ordering conduct, and inclinations, new companies can fragment their customer base
and designer marketing strategies to successfully target explicit sections. This aides in
personalization, further developing customer fulfillment, and driving recurrent orders.
2. Pricing Strategies: Analytics helps new businesses in deciding ideal pricing for their
items by considering elements, for example, fixing expenses, contest, and customer
readiness to pay. By investigating pricing flexibility and leading examinations, new
companies can improve pricing strategies to drive benefit while staying serious.
3. Personalized Recommendations: By utilizing analytics, new companies can give
personalized recommendations to customers in light of their inclinations, past orders,
and conduct. This upgrades the customer experience, energizes upselling, and
increments customer loyalty.
4. Marketing Campaign Enhancement: Analytics empowers new companies to gauge
the viability of their marketing campaigns by dissecting customer reaction,
commitment measurements, and transformation rates. This aides in streamlining
marketing spend, distinguishing fruitful channels, and further developing campaign
focusing on and informing.
5. Social Media Monitoring: By utilizing social media analytics, new businesses can
screen customer opinion, brand notices, and patterns across different social media
stages. This gives important bits of knowledge to notoriety the board, grasping
 customer criticism, and distinguishing amazing open doors for commitment and brand
advancement.
6. Customer Agitate Analysis: Analytics helps new companies distinguish and
comprehend the elements adding to customer beat. By examining customer conduct,
order history, and input, new companies can proactively address issues, execute
retention strategies, and further develop customer retention rates.

As the food-tech market continues to grow, companies that are able to leverage data analytics
effectively will have a significant advantage over their competitors.

Changing Consumer Conduct: The change in consumer conduct towards comfort, efficient,
and on-request benefits has made a rich ground for food-tech new companies. Occupied
timetables, urbanization, and a longing for consistent encounters have driven consumers to
embrace online food conveyance stages and computerized ordering choices.

Technological Headways: The fast progression of technology plays had an essential impact
in the ascent of food-tech new businesses. Consistent portable applications, strong
coordinated factors framework, and the joining of analytics and simulated intelligence driven
arrangements bring engaged new companies to the table for personalized encounters,
effective tasks, and ongoing following for conveyances.

Expanding Internet Infiltration: The far and wide accessibility of reasonable internet
access has worked with the development of the food-tech industry. With a huge populace
accessing cell phones and the internet, more individuals are open to utilizing on the web
stages to order food, prompting a flood popular and open doors for food-tech new businesses.

Ascent of Online business: The outcome of online business stages in India has prepared for
the development of food-tech new companies. Existing strategies and conveyance
organizations, combined with a culture of internet shopping, have made a good environment
for food conveyance new businesses to flourish and grow their administrations.

Entrepreneurial spirit : India has seen a flood in enterprising movement, with many hopeful
people distinguishing the potential in the food-tech area. The accessibility of investment
subsidizing, strong government strategies, and a developing startup biological system have
urged business people to enter the food-tech space and foster imaginative answers for take
care of the advancing business sector requests

Conclusion

The ascent of food-tech new businesses in India connotes the changing scene of the food
business and the rising impact of technology. These new businesses have upset customary
eating encounters, offering consumers accommodation, assortment, and personalized
administrations. The combination of changing consumer conduct, technological progressions,
and strong economic situations has made a flourishing biological system for food-tech new
companies to prosper. As the business keeps on developing, it is normal that food-tech new
companies will assume a significant part in forming the eventual fate of food utilization,
conveyance, and eating encounters in India.

Answer 3 (a)

Introduction

Mobile analytics empowers businesses to understand user inclinations, enhance mobile app
encounters, and go with information driven choices to produce more noteworthy income.
This development is powered by the boundless reception of cell phones, the ascent of mobile
advertising, and the headways in information analytics and huge information technologies.
Mobile analytics firms influence area analytics to assist businesses with arriving at informed
conclusions about store areas and overcome any issues between actual stores and web based
business stages.

Concept and Application

The goals of using mobile analytics in the context of the mobile analytics market are centered
around understanding consumer behaviour, optimizing mobile app experiences, and driving
revenue generation. Here are five key goals of using mobile analytics:
 1. Understand User: Mobile analytics gives significant experiences into how users
communicate with mobile apps, their inclinations, and ways of behaving. This
understanding assists businesses with fitting their app encounters to meet user
assumptions and further develop customer satisfaction.

2. Customize Marketing: Mobile analytics permits marketers to follow user connections,

crusade viability, and transformation rates. This information empowers customized
marketing efforts targeted at explicit user fragments, improving the probability of user
commitment and transformations.

3. Recognize App Features: Through mobile analytics, businesses gain experiences into
the prominence and utilization of various app features. This focuses on feature
improvement and upgrades, adjusting app functionalities to user inclinations.

4. Drive User Acquisition and Retention: By examining user acquisition channels,

mobile analytics assists businesses with distinguishing the best techniques for drawing
in new users. Moreover, it gives bits of knowledge into user retention, permitting
businesses to execute targeted systems to keep users engaged and loyal.

5. Measure Advertising return on initial capital investment: Mobile analytics empowers

marketers to follow the exhibition of mobile advertising efforts, measure promotion
impressions, navigate rates, and changes. This information streamlines promotion
spending, improve targeting, and boost profit from investment.

Conclusion

Mobile analytics assumes a vital part in assisting businesses with utilizing the developing
market of mobile gadgets and apps. By outfitting the force of information, businesses can
understand user conduct, enhance app encounters, drive income, and remain in front of the
opposition. The objectives of utilizing mobile analytics incorporate upgrading user
encounters, customizing marketing endeavors, enhancing app execution, and settling on
information driven choices across different parts of the business. With the constant
progressions in technology and the rising demand for mobile-driven arrangements, mobile
analytics will keep on being a urgent device for businesses to flourish in the developing
digital landscape.

Answer 3 (b)

Introduction

Mobile analytics provides organizations with valuable insights into user behavior and
preferences, helping them optimize their mobile apps, websites, and marketing efforts. By
tracking various metrics, businesses can make data-driven decisions to improve the user
experience and generate more revenue.

Concept and Application

Goals of Using Mobile Analytics:

Enhance User Experience: One of the primary goals of mobile analytics is to improve the
user experience. By analyzing user behavior and interactions within mobile apps, businesses
can identify pain points, optimize app design, and provide a seamless and engaging
experience for users.

Increase App Retention: Mobile analytics helps businesses understand the factors
influencing app retention. By tracking user engagement metrics, such as session duration,
frequency of app usage, and user churn rates, organizations can identify areas for
improvement and implement strategies to increase app retention.

Optimize Marketing Campaigns: Mobile analytics provides valuable insights into the
effectiveness of marketing campaigns on mobile devices. Businesses can track key metrics
like click-through rates, conversions, and user engagement to evaluate campaign
performance, optimize targeting, and maximize return on investment.
Improve App Monetization: Mobile analytics enables organizations to track and analyze
revenue-related metrics such as in-app purchases, ad impressions, and subscription rates. By
understanding user spending patterns and identifying opportunities for monetization,
businesses can optimize their app monetization strategies and generate greater revenue.

Drive Data-Driven Decision Making: Mobile analytics empowers organizations to make

informed, data-driven decisions. By analyzing user behavior, market trends, and app
performance metrics, businesses can identify growth opportunities, prioritize feature
development, and allocate resources effectively.

Information Tracked by Using Mobile Analytics:

1. User Behavior and Engagement: Mobile analytics tracks user behavior within apps,
including screen flows, feature usage, and session duration. This information helps
businesses understand how users interact with the app, identify popular features, and
enhance user engagement.

2. Conversion Funnel Analysis: Mobile analytics enables organizations to analyze user

behavior throughout the conversion funnel, from app installation to desired actions
like purchases or sign-ups. This analysis helps identify bottlenecks, optimize user
journeys, and improve conversion rates.

3. Ad Campaign Performance: Mobile analytics provides insights into the

effectiveness of mobile ad campaigns, including click-through rates, impressions, and
conversions. This information helps marketers optimize ad targeting, ad creatives, and
ad spend allocation.
 4. In-App Events: Organizations can track specific in-app events, such as button clicks,
form submissions, or content views. This data helps measure user interactions,
identify popular features, and optimize the app's user interface.

5. Location Analytics: Mobile analytics leverages location data to understand where

users spend their time. This information helps businesses make informed decisions
regarding store locations, targeted advertising, and personalized recommendations.

Conclusion

Mobile analytics is a rapidly growing market that offers valuable insights into consumer
behaviour and app experiences. By leveraging mobile analytics, businesses can achieve their
goals of improving user experiences, enhancing marketing effectiveness, increasing app
retention and monetization, informing product development, and optimizing business
operations. The ability to track and analyze various metrics empowers organizations to make
data-driven decisions and gain a competitive edge in the mobile-driven marketplace.