INFT6201: Big Data in Consumer Goods Retailing - Data Analysis Assignment

Internal Code: MAS5881

Data Analysis Assignment:

The topic of this essay is “Big Data in Consumer Goods Retailing”. In your essay, we ask you to critically reflect on how the different statistical techniques for predictive analytics discussed in this lecture can be usefully applied to inform decision making in companies focusing on consumer goods retailing (e.g., drinks, food). This includes elaborating on how the different predictive analytics techniques can be used to turn data into information, how they can be implemented and integrated into the IT architecture of the organisation (e.g., high-performance computing, automated reports), and common problems that arise when dealing with Big Data. The essay should provide a motivation for why predictive analytics is important for businesses in the domain of consumer goods that are operating in an increasingly information-driven economy. It should then introduce different predictive analytics techniques and how they can be used to inform decision making in the retailing companies. This includes a discussion of how these techniques can be implemented and integrated into the IT Architecture of the retailers. The essay concludes with a discussion of topics raised in the previous sections and provides a summary of conclusions. Questions: 1) In the introduction, the essay provides a strong motivation for why predictive analytics is important for organisations operating in an information-driven economy. 2) Based on the application of predictive analytics techniques discussed in the second section, the third section shows how these techniques can be implemented and integrated into the IT architecture