1669583314_Portfolio_Project_Statistics._Felipe_Pampolim
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THE INFLUENCE OF SOCIAL MEDIA ON BUSINESS SALES
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The influence of social media on business sales
Felipe Pampolim
Bryant & Stratton College
MATH 309: Statistics
W. Rava
11/28/2022
THE INFLUENCE OF SOCIAL MEDIA ON BUSINESS SALES
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Statement of the Problem
Social media is a vital aspect of marketing. With at least two-thirds of internet users on social media, it’s a valuable way for businesses to reach their audience. Since its formation, social media has helped brands connect with audiences all over the world. In fact, businesses use social media primarily for increased exposure, followed closely by increased traffic, and increased lead generation. In this project I hope to get as much information as possible from credible research that shows the benefits and increases in sales through social media. We know that technology has been changing the world and that marketing has been a crucial tool in the business market. This topic is totally related to my major that is business and is totally related to marketing and social networks. It is a very interesting topic to study because it is a very current and important subject these days, especially for those who want to work in marketing and sales like me. Data The date I will use for this research will be my social media, where I asked 72 people including friends, family, and people in common who work in the marketing business or in companies where they use a lot of marketing. They gave me important feedback and I will be applying it to Excel, where I will be showing in numbers what these people said if social networks are important or not for business sales. I will be showing graphs and key items for a better understanding of the research.
The correlation would be:
X: Do you have social media?
Y: Do you believe social media influences business sales?
THE INFLUENCE OF SOCIAL MEDIA ON BUSINESS SALES
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Literature Review
The research on the topic “The impact of social media on different businesses in the last decade” focuses on research done to prove sales growth through social media. The researchers concluded that social networks are growing more and more and people all over the world are using them, so there has been a bombastic growth in sales and marketing through social networks
due to the number of users. The researchers showed that social networks have given opportunities for even small businesses to interact with their customers and have more resources to satisfy their customers. (Bombardier, 2022). Goal Statement
The end goal of my research is to analyze if the social media influences business sales. By using Excel and my research to analyze my research data, I will compare what I found in the Literature review and that research data from my Excel.
Research Questions
My two research questions are:
Question 1: Do you have social media?
Question 2: Do you believe social media influences business sales?
Methodology
Hypothesis: My hypothesis is that through social media, the business sales will grow due to the high number of people using social media nowadays. Testing my hypothesis: I will primarily use a correlation and my literature review to test my hypothesis.
Organizing my data:
I will use Excel to organize my data. The data will be organized by the approach that I used to ask my two research questions to 72 individuals. I picked 72
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THE INFLUENCE OF SOCIAL MEDIA ON BUSINESS SALES
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individuals for my research because I feel it is a good number to do my study, so it will not be affected by any outliers. Then, as the data moves through all the approaches the correlation will be calculated in Excel.
Calculating my Statistical Data: By using the Formula tab in the Excel sheet, I will use the correlation inside the statical category formulas to find my final answer.
Identifying conflicts: Any identified conflicts will be addressed in conjunction with each research question.
Use of correlation: Correlation will be the primary tool for identifying the conclusions of my research through an Excel sheet.
Data Analysis
Below is the descriptive statistics from my research data. Below is a sample of my data with the number of people who have social media and the number of people who believe social media has influence on business sales. X
Do you have social media?
Y
Do you believe social media influences business sales?
X
Y
Facebook
12
8
Instagram
28
23
WhatsApp
19
14
Face to Face
13
9
Total
72
54
The correlation is positive and strong.
Below is a graphic showing and proving the numerical positive correlation. The graphic tells us the correlation between my two questions, that were: “Do you have social media?” and “Do you believe social media influences business sales?”.
THE INFLUENCE OF SOCIAL MEDIA ON BUSINESS SALES
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10
12
14
16
18
20
22
24
26
28
30
0
5
10
15
20
25
Social Media x Business Sales
Series2
Linear (Series2)
Number of people who have social media
Nu m b er o f p eo p le w h o b elieve so cial m ed ia in fl u en ces Below you will find the Mean, Median, and Standard Deviation of the data taken from the “Y” and “X” question. Descriptive Statistics X
Mean
18
Standard Error
3.6742
Median
16
Mode
#N/A
Standard Deviation
7.3485
Sample Variance
54
Kurtosis
0.1283
Skewness
1.1088
Range
16
Minimum
12
Maximum
28
Sum
72
Count
4
0
THE INFLUENCE OF SOCIAL MEDIA ON BUSINESS SALES
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Descriptive Statistics Y
Mean
13.5
Standard Error
3.4278
Median
11.5
Mode
#N/A
Standard Deviation
6.8557
Sample Variance
47
Kurtosis
0.7904
Skewness
1.2414
Range
15
Minimum
8
Maximum
23
Sum
54
Count
4
0
Below is a similar article from a website called “Research Gate” that shows a correlation to compare my results. It contains the mean and standard deviation of how much the social media is
influencing on business sales throughout the years.
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Conclusion Whether your findings confirm or refute your hypothesis. The research data does reflect that there is an increase in the numbers of business sales being influenced by social media.
The effect of these findings on your goal statement.
My goal was to have a better understanding of how the social media is influencing on business sales. Through my research, there is a better understanding of social media and how it affects business sales.
T
he related answers this data provides to your research question.
Both of my research questions were answered through my data analysis and research methodology. How your findings inform the statement of problem you provide at the beginning.
Through my research, I have a better understanding of how social media influences business sales. Moreover, my literature review showed that the social media is increasing throughout the years hence influencing even more business sales in a positive way, creating more opportunities, and improving the relationship between the sales and the customer. Correlation result. My computations gave me a strong positive correlation between social media and business sales, it also means more people are convinced that social media has a strong
influence on business sales.
Reflection
By using statistics as a Business major, I will be able to analyze critical information in the business world, especially in the sales path, that I plan to work with in my future career. My use of data analysis using Excel and statistics now allows me to use very clear and precise measurements to make better and more informed decisions that build upon the classes I have
THE INFLUENCE OF SOCIAL MEDIA ON BUSINESS SALES
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taken at Bryant & Stratton College in the business field. Moreover, the process I used to complete my project included using the Virtual Library to find research, the use of Google to look for data, and the use of Excel to do the statistical analysis. This project will help me in the future because I am now able to effectively use Excel and statistical analysis to analyze any type of data to make better decisions and come to more effective conclusions.
THE INFLUENCE OF SOCIAL MEDIA ON BUSINESS SALES
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References
Bombardier, K. (2022, September 29). Analyzing the Impact of Social Media On Different Businesses in the Last Decade
. Emeritus Online Courses. Retrieved October 20, 2022, from https://emeritus.org/blog/impact-of-social-media-on-businesses/
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