Data Analysis Insights: Scatterplots, Seasonal Patterns & Reporting

1 Table of content  Scatterplot of the data and regression analysis  The answer to Q. a ----------------------------------------------------------- (3)  Seasonal Patterns  The answer to Q. b. ---------------------------------------------------------- (4)  Business reporting best practices and steps will help business reports stand out  The answer to Q. c ------------------------------------------------------- (4 - 5)  Reference list ------------------------------------------------------------------------- (8) TTEC605 Data analytics

2 Q.1). Scatterplot of the data and Regression analysis As there is a clear upward trend in the data, but fluctuations deviate from a straight line, a linear trend does not seem to fit these data well. The data would not adequately represent the changes in the data over time if a linear trend were to be fitted to the data. A linear trend is a straight line that is used to model a pattern in data over time. The slope and y-intercept of the line are calculated using the least squares method. Once we have the final plot, we can see that the graph does indeed exhibit a distinct linear trend. The purchase of airline tickets has undoubtedly increased over the years. When it comes to airline ticket sales in 2019, the month of November is when they reach their highest level. The customer value changes and manifests a behaviour during specific months and during certain seasons. Total ticket sales have surpassed 3,000, just like in the months of June, May, and November. While the number of customers rises annually in January, there are fewer customers overall than in other months. i. e 2619. TTEC605 Data analytics

3 Q.2) Seasonal Patterns These sales data show that there is a seasonal pattern. Sales are typically higher in May, June, July, October, and November and lower in January, February, March, August, and September. The seasonal component can be used to forecast future values by first separating it from the trend and residual components using a seasonal decomposition. This method divides the data into three parts: the trend component, which captures the long-term changes in the data; the seasonal component, which captures the regular fluctuations in the data; and the residual component, which captures the random fluctuations in the data that are not explained by the trend or seasonal components. Once the seasonal component has been determined, it can be used to predict future values under the presumption that the pattern will persist. Q.3 TTEC605 Data analytics

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4 Business reporting best practices. 1. Remain reliable One of the major issues that could arise with company reporting is a lack of consistency. It should be clear how well this information is monitored and recorded to provide consistency and make it convenient to collect the data later. Inconsistencies and gaps in the report might be reduced because of this. 2. Make the data simpler. This might be difficult. Gathering a manageable amount of information is a great idea for more detailed reporting because it may be difficult to initially choose which information to monitor. More data collection might at first seem like a good idea, but most of it will be time-consuming and useless. 3. Narrative sharing. More than just presenting data is needed for business reporting. The facts must be communicated in the most compelling way possible. As previously mentioned, simplifying the information makes it possible to build a narrative around it, demonstrating how well the information recorded indicates profits, and losses, as well as other crucial information that can demonstrate whether the sector or business is functioning and identify areas for development. 4. Preparing a plan of action. Before beginning any reporting, it is important to be aware of the end goal. A business may be unable to reach its full potential if the outcome is uncertain. Put into practice the data elements you need to consider helping the business achieve its goals. Setting realistic objectives for the organization is preferable to relying solely on lofty ones that might take some time to achieve. Even though it might seem like more reporting would be unnecessary, this is an essential step in developing a reasonable and workable plan that can be closely monitored and where success can be demonstrably demonstrated. 5. Check that everyone understands all communications. Different individuals may collect different types of data, which could lead to inaccuracies and inefficiency. When assigning tasks to different team members, coordination between those who are reporting to and providing the information is essential. 6. Keep accurate records. The records must be of the highest calibre to adhere to corporate reporting best practices. Keeping meticulous records of the database as well as the firm's reporting requirements is an efficient way to avoid some issues. Best record-keeping practices must be incorporated into the company's training but restricting who can change records to authorized team members is another clever move to protect the confidentiality of the data. 7. Being ready to assess. TTEC605 Data analytics

5 Without best practice plans, it would be extremely challenging to write clear, succinct, and useful reports; they are therefore present for a reason. Nevertheless, keep in mind that businesses may need to review and reorganize as needs change. One may need to modify their standards for judging rules and failures to consider changes in the firm and the surrounding environment. Following these steps will help business reports stand out.  Easy to comprehend. For the audience to remain interested, a good business report may be straightforward to understand. Prior to beginning to write, keep the audience in mind. It is acceptable to use specialized terminology and provide in-depth explanations if the group is composed of subject-matter experts. The report must always be presented in a simple, understandable manner for audiences who are not familiar with the industry, and it must include definitions for any terms that are used.  Neutral, trustworthy facts. Since they will be used to back up arguments and form conclusions, the report's facts must be accurate. Any untruth would distort the results and force the company to make a poor business decision.  Efficient and Simple Presentation. The report needs to be written clearly, achieving its goals in the fewest possible words. This basically means that it's imperative to omit any information that is not necessary, even though a lengthy report can still be useful. Excel File TTEC605 Data analytics

6 Reference:  How to create a scatterplot with a regression line in R? (2021) GeeksforGeeks . GeeksforGeeks. Available at: https://www.geeksforgeeks.org/how-to-create-a- scatterplot-with-a-regression-line-in-r/ (Accessed: February 1, 2023).  What is regression analysis? (no date) TIBCO Software . Available at: https://www.tibco.com/reference-center/what-is-regression-analysis (Accessed: January 29, 2023).  Segal, T. (2022) Creating a linear regression model in Excel , Investopedia . Investopedia. Available at: https://www.investopedia.com/ask/answers/062215/how- can-i-run-linear-and-multiple-regressions-excel.asp (Accessed: January 27, 2023).  Carlberg, C. (no date) Regression analysis Microsoft Excel , Google Books . Google. Available at: https://www.google.com.au/books/edition/Regression_Analysis_Microsoft_Excel/ CNIXDAAAQBAJ?hl=en&gbpv=1&dq=regression%2Banalysis %2Bexcel&printsec=frontcover (Accessed: January 25, 2023).  28, M.says: J. et al. (no date) Linear regression analysis in Excel , ablebits.com . Available at: https://www.ablebits.com/office-addins-blog/linear-regression-analysis- excel/ (Accessed: January 26, 2023).  Dobromir Dikov, F.C.C.A. (2020) Multiple linear regression analysis in Excel , Medium . Magnimetrics. Available at: https://medium.com/magnimetrics/multiple- linear-regression-analysis-in-excel-6f1436acd896 (Accessed: January 29, 2023). TTEC605 Data analytics

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