BUS5PB - Report Writing Principles of Business Analytics - Management Assignment Help

Assignment Task :

Task:

Compile a review report that :

• describes the purpose, importance and role of business analytics in creating strategic value and  competitive advantage. 

• defines the analytics ecosystem (descriptive, predictive, prescriptive and exploratory analytics)  and illustrates how they are adopted by various industries in their key business functions ranging  from strategy, marketing and sales, operations (production), customer services etc. 

• illustrates how the data mining process (CRISP-DM) can be implemented and in particular,  challenges in implementing data mining and business analytics in agile business environments.

 Identify the key descriptive statistics of the property price found  

a. Perform initial distribution analysis on ‘Price’ from the given data set using the  histogram. Make sure to choose reasonable bin size. 

b. Calculate the key descriptive statistics (mean, median, mode, range, IQR, quartile,  skewness, variance, standard deviation) for the ‘Price’.

c. Compare price distribution for ‘Eastern Metropolitan’ and ‘Western Metropolitan’. What  can you find out? Perform outlier analysis on ‘Price’ for these two areas and what are  the price ranges for these outliers? (Hint: use box plots) 

d. Can you identify which suburbs have the highest and lowest house prices?

Perform linear correlation analysis on the second data set given

a. Develop a simple linear regression model using Excel. You need to use “Price” as the  dependent (or response) variable and “Distance” as the independent (or explanatory)  variable. You are required to submit the excel file. 

b. Refine and improve the developed linear regression model. Illustrate and explain why  the model is enhanced.

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