BUS225_Module_Four_Assignment

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1 Module Four Assignment Debra Shifflett Southern New Hampshire University BUS 225: Critical Business Skills for Success Sara Earley June 8, 2024

2 Module Four Assignment Explanation of the Importance of Data Analysis Data is a narrative used to explain your data that supports your conclusions or recommendations. The narrative has the structure of a story, including a conflict or crisis and a resolution (Soomo, 2020). Data is important because it is the ability to check, process, and interpret vast amounts of data and it is the core function of business operations today (CData Software. 2024). There are different ways to tell if the new product had a successful launch. One way is to Identify trends in your data that you wouldn't be able to see any other way. Another way is to observe product launch-related information like times to finish a procedure, patient complaints, and whether any follow-up procedures occurred. Description of Findings The cost of goods sold started declining in January. The starting cost was $23,920; in May, the price decreased to$18,460.00; it gradually decreased to $17,095 in July and remained steady. The cost of goods sold totaled $235,170. In spite of the initial decline of negative $18,920 in January, profits increased, reaching $12,905 by December. The total annual profit totaled $9,830. This repeated growth in profits is noticeable in the business's steadiness. The product showed growth but achieving the profit target remained demanding. We used cost and revenue data to assess its performance. The percentage improved from negative three percent in January to four percent in December. The success of the company is measured by customer services surveys and

3 by how much the company is selling for each individual product between the months that is was in production. Summary of Results This chart shows the trend for the cost of goods sold, total revenue, profit, and percent profit over a period of January to December.

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4 This type of a chart is a line chart. A line chart is a representation of the data in the form of points that are joined continuously with the help of a line (Cuemath, n.d.). This data analysis is to show the cost of good, total revenue, profit, and percent profit over time. It shows the total cost of goods from the time period of January through December. The product showed promising development, but achieving the profit target remains challenging. We used cost and revenue data to assess its performance. Data visualizations show your audience the trends of productivity over time in vibrant colors that appeal to your audience. It also shows the pattern of the trend in the data analysis. Visualizations not only show the productivity in vibrant color forms is gives a better representation than just words on the paper.

5 References Cuemath, n.d. Line Charts - Definition, Parts, Types, Creating a Line Chart, Examples . (n.d.). Cuemath. Retrieved from https://www.cuemath.com/data/line-chart/ CData Software, n.d. The Importance of Data Analysis: An Overview of Data Analytics (CData Software) . (n.d.). CData Software. Retrieved from https://www.cdata.com/blog/importance-of-data-analysis

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