AVERAGE HOURLY WAGES:

Legend:
Female
Male

Findings:

 The highest amount is in Iceland, followed by Hungary and Uzbekistan.

 The lowest amount is in Sweden, which is significantly lower than the other countries.
 It seems that Male has a higher threshold for the amount in local currency as compared to
Females as evident in Iceland (Male: 34,560; Female: 26,920)
 There is considerable variation in the amounts between the countries, which may be influenced
by various economic, social, and cultural factors.

Please refer to the table below:

Implications for High and Low Local Currency Amounts

High Local Currency Amounts:

Positive Aspects: An individual's high income or high local currency sums may be a sign of a healthy
economy, plenty of work options, and a relatively high standard of living. It may imply that people have
the resources to take care of their fundamental requirements, save money, make investments, and
support economic progress.

Challenges: A tiny percentage of the population having much greater incomes than the majority,
however, can cause social and economic problems. This is known as extremely high-income inequality.

Disparities in access to critical services like healthcare, education, and others can emerge, which can
harm social cohesiveness.

Low Local Currency Amounts:

Positive Aspects: Low sums in local currency might suggest affordability, which is advantageous in terms
of the cost of living. In some circumstances, a lower cost of living can compensate for low-income levels,
giving many people a respectable standard of living.

Challenges: Persistent low-income levels can indicate economic challenges, including high
unemployment, limited access to quality education and healthcare, and reduced opportunities for
economic mobility. It may also lead to poverty, which can have detrimental social and health effects.

Why Iceland has Higher Income than Sweden

 Cost of Living: The cost of living in Iceland is generally higher than in Sweden. This can lead to
higher incomes to meet the higher cost of living. For example, housing, food, and other goods
and services may be more expensive in Iceland (https://livingcost.org/cost/iceland/sweden)
 Population Size: The size of the population in Sweden is significantly larger than that of Iceland.
Larger populations often have more diverse income distributions, while smaller populations may
have more concentrated income levels (https://livingcost.org/cost/iceland/sweden)
 Economic Structure: Iceland has a smaller population and a more specialized economy
compared to Sweden. Iceland has a strong focus on industries such as fishing, tourism, and
geothermal energy, which can lead to relatively higher incomes in these sectors. Sweden, on the
other hand, has a larger and more diverse economy with a wider range of industries.
(https://www.export.gov/article?
series=a0pt0000000PAtzAAG&type=Country_Commercial__kav#:~:text=Iceland%20is%20a
%20stable%20democracy,exports%20are%20tourism%20related%20services;
Male vs Women Income Disparity

Legend:
Female
Male

 Discrimination: Discrimination and bias in the workplace can lead to women being overlooked
for promotions, raises, or leadership positions, all of which can affect their income growth over
time (https://www.humanrightscareers.com/issues/causes-gender-inequality/#:~:text=One
%20of%20the%20causes%20for,in%20lower%20income%20for%20women)
 Lack of Representation: Gender imbalances in leadership and decision-making roles within
organizations and government can perpetuate systemic inequalities that affect women's income
(https://www.humanrightscareers.com/issues/causes-gender-inequality/#:~:text=One%20of
%20the%20causes%20for,in%20lower%20income%20for%20women)
 Negotiation Skills: Research has shown that women may be less likely to negotiate for higher
salaries or better employment terms than men, which can lead to lower starting salaries and
slower income growth (https://hbr.org/2014/06/why-women-dont-negotiate-their-job-offers)

Recommendations:

 Gender Pay Equity: Implementing policies to address gender pay gaps can promote fairness and
equality in income distribution.
 Education and Skill Development: Investing in education and skill development programs can
improve employability and help individuals move into higher-paying jobs. This can be
particularly effective in reducing poverty and income disparities.
 Policies for Economic Growth: Policies that promote economic growth can lead to job creation
and increased income opportunities for the population. This can benefit both high and low-
income individuals. Also, focus on economic policies that promote inclusive growth, ensuring
that the benefits of economic development are broadly shared rather than concentrated among
a few. In some cases, governments can use wage and price controls to fight inflation, and these
include implementing reasonable monetary policies.
 Financial Literacy Programs: Implement financial education and literacy programs to empower
individuals with the knowledge and skills to manage their finances effectively. This can help
people make informed decisions about saving, investing, and budgeting.
H

DEPARTMENT STORE:
Legend:

Findings:
 During the year 2022, the department with the highest amount of sales is
Electronics, followed by House Furnishings, and Sports.
 Conversely, the department with the lowest amount of sales are Stationary
shops.
 Despite having the most sales, Electronics fell short of meeting the Billing
Objective.
 House Furnishings and Sports, on the other hand, exceeded the Billing Objective.
 The values of both the Billing Objective and the Billing Completed are
proportional. Meaning, if a department has been selling a lot for the past few
years, it is then expected to sell more the following year. And, the department
sets to increase the billing objective as they expect the sales to increase.

Observations:
  The data set we received contained attributes and instances in Portuguese,
suggesting it's from a department store in Portugal.
 In 2022, the Electronics Department fell short of its yearly goal by 75,748 units.
Electronics and clothing in Portugal come in hefty price tags compared to some
other countries, which may explain why both departments didn't meet their
targets (https://wise.com/gb/blog/pros-and-cons-living-in-
portugal#:~:text=Despite%20the%20relatively%20low%20cost,on%20those
%20kinds%20of%20good.)
 The House Furnishings department likely exceeded its goal due to its excellent
quality, which Portugal is known for. This attracts both local and international
customers. (https://www.portugal-the-simple-life.com/post/buying-furniture-in-
portugal)
 Sports, particularly football and basketball, are hugely popular in Portugal. The
country is even home to the world famous football players such as Cristiano
Ronaldo, which is the pride and joy of Portugal and devoted fans. This strong
sports culture likely contributed to the Sports department surpassing its sales
target. (https://www.pearlsofportugal.com/living-in-portugal/sports-in-
portugal/)

Recommendations:
 Market research: Staying up to date with market and consumer trends and then
adjusting the product accordingly will help boost sales. Taking advantage of the
increased influence and demand is increased caused by the trend may help reach
and even exceed sales goals of a company.
 Customer Education: Investing in knowledgeable staff that can explain the value
and the features of the product to customers may help them see the benefits of
their purchase compelling them to buy.
 Targeted Marketing: Highlighting the value, quality, and unique features of a
product will make customers more likely to buy.
 Implement Customer Service Representative (CSR): having a CSR can assist
customers with inquiries, create positive shopping environment, enhance
customer experience can lead to customer loyalty and encourages repeat
purchases.
 Marketing and Promotion: Increasing marketing efforts, creating appealing visual
displays, and highlighting special offers, help boost sales. This may be used for
certain departments that perform sub-par as well as boosting other departments
sales.

Goal ko
So basically my goal is to take the top three departments that made sales during the
year 2022 and check if they reached their Billing Objective. After checking, I researched
and analyzed on why this may have happened, got insights, and proposed an
appropriate recommendation of a course of action on what to do to reach and even
exceed the Billing objective the next year.
IMPORT & EXPORT:

Legend:

Findings:

 Europe and Central Asia have both been leading top exporters and importers, while the British
Antarctic Territory has been the lowest exporter and importer during the past 34 years.
 Having a high revealed comparative advantage doesn’t mean the country will have the best
economy growth and tariff lines. (Example below:)
Australia is the leading country with revealed comparative advantage among the countries, but never
been to reach the top 10 leading importers and exporters around the world.

 India has the highest world growth rate at 188.4% in the span of 34 years.

 Europe and Central Asia have had the highest AHS and WFN total tariff lines in 34 years. It shows
that it can impact one's economic growth, and tariff lines are not always negative.

Recommendation:

 The dataset must emphasize each country's annual economic growth in terms of exports and
imports. In order for all business enterprises to know where the ideal area is to share or market
the company's products and services, they needed to know which country is the most reliable in
this field.
