Overview
To make sense of all the data available to them, business leaders work alongside data scientists who generate data visualizations to understand business questions via analytics. This process gives companies insight on what is working and what is not: for example, whether the products or services offered are meeting expectations, or if a shift in strategy is necessary.
Prompt
For this assignment, you will take on the role of a business leader who wishes to analyze if a new product their company has introduced is meeting the expectations. Imagine that you would like to create a post in the company intranet that summarizes your findings in an easy-to-read format for your team. Pay special attention to creating meaningful data visualizations. You should use techniques that make content easy to follow but that also display charts accurately without distorting or skewing data. Your company’s profit goal is 25% of the cost of goods sold (COGS). Remember, COGS is the cost of manufacturing the product, including labor, materials, and overhead. You will need to build trust and an open channel of communication with other leaders on your team. Pay close attention to the story that data visualizations tell you and others reviewing your post.
The purpose of this analysis is to better understand the cost, revenue, and profit associated with the new product launch. Review the Cost, Revenue, and Profit Spreadsheet retrieved from the company’s data center and consider the following while developing your ideas in this assignment.
Step 1: Explain the Importance of Data Analysis
1-What is the importance of data analysis? How can it help you understand whether the new product had a successful launch? What are you reporting on and what are you analyzing? Why is it important to analyze this information? Your response should be between 100–200 words.
2-Describe Your Findings
2-Describe the results of your analysis. What does the data tell you about the success of the product throughout the year? Was the company able to meet its profit goal? What data did you use to determine whether the product is meeting expectations? Your response should be between 200–300 words.
Step 3: Summarize the Results of Your Analysis
You’ve introduced your post by explaining the importance of data analysis, and you’ve told the story of your product’s launch. Now it’s time to summarize your most important findings with data visualizations to help employees and fellow company leaders understand your insights about the product launch data.
Consider creating data visualizations that illustrate the following information:
⦁ How have the costs of goods sold (COGS) changed over the course of the year?
⦁ How has the profit percentage changed over the course of the year?
Keep your target audience in mind as you choose which data visualizations to use. Look for visualizations that best highlight the most useful information in a way that will be easiest for your coworkers to interpret.
In the template below, you’ll be asked to create graphs or charts and upload them as JPEG or PNG files. You may need to take a screenshot of these data visualizations in order to do so.
3-Upload your first data visualization here as a JPEG or PNG file.
4-Explain what type of chart this is and the insights it provides about the success of the product launch. Your response should be between 30–50 words.
5-
6- Explain what type of chart this is and the insights it provides about the success of the product launch. Your response should be between 30–50 words.
4-Summarize the Results of Your Analysis: Data Visualizations
7-How did adding visual representations of the data change your analysis?
8-Does the target audience influence the way you display information?
Guidelines for Submission
You should write using a professional voice, and any sources should be cited according to APA style. Your assignment must be between 400 and
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