Question 3: Market Analysis and Strategy Formulation Problem
Scenario: You are a data analyst at a company that sells a range of consumer electronic products online. The company has operations in multiple regions in the U.S., and is looking to expand its market share.
Data Provided: You are given a dataset that includes information on sales transactions over the year. This dataset contains details such as product category (e.g., smartphones, laptops, accessories), sales figures, customer demographics, regional sales data, and marketing spend (description of the data is below).
Task: Your task is to analyze the dataset to provide insights that can guide the company’s future business strategy.
Requirements:
Market Analysis:
Perform a comprehensive analysis of the current market position of the company. This should include sales trends, most popular products, and performance across different regions. Identify any noticeable trends in customer preferences or buying patterns.Customer Segmentation:
Conduct a customer segmentation analysis. Identify different customer segments based on purchasing behavior and demographics.Regional Performance:
Analyze the sales performance across different states. Identify regions where the company is performing well and regions where performance is lagging.Marketing Spend Efficiency:
Evaluate the efficiency of marketing spend. Determine the return on investment (ROI) of marketing activities and identify which channels are most effective.High-Value Transaction Prediction: Create a binary variable indicating whether a transaction is high-value (e.g.. total sale above a $2000 vs. lower amount). Using logistic regression predict the likelihood of a transaction being high-value based on various predictors
