Making Data-Driven Decisions This Project Is Based On Creati

Making Data Driven Decisions This project is based on creating visualizations using charts for data

Making Data Driven Decisions This project is based on creating visualizations using charts for data. You can choose from column charts, bar graphs, line graphs, dual axis chart, area chart, etc. Overview To make sense of all the data available to them, business leaders work alongside data scientists who generate data visualizations to understand business questions via analytics. This process gives companies insight on what is working and what is not: for example, whether the products or services offered are meeting expectations, or if a shift in strategy is necessary. Scenario For this assignment, you will take on the role of a business leader who wishes to analyze if a new product their company has introduced is meeting the expectations.

Imagine that you would like to create a post in the company intranet that summarizes your findings in an easy-to-read format for your team. Pay special attention to creating meaningful data visualizations. You should use techniques that make content easy to follow but that also display charts accurately without distorting or skewing data. Your company’s profit goal is 25% of the cost of goods sold (COGS). Remember, COGS is the cost of manufacturing the product, including labor, materials, and overhead.

You will need to build trust and an open channel of communication with other leaders on your team. Pay close attention to the story that data visualizations tell you and others reviewing your post. Goals To make sense of all the data available to them, business leaders work alongside data scientists who generate data visualizations to understand business questions via analytics. This process gives companies insight into what is working and what is not (e.g., whether the products or services offered are meeting expectations or whether a shift in strategy is necessary). In this assignment, you will: · analyze quantitative and qualitative data to assess the performance of a product since its launch, · draw conclusions and communicate them in your assignment, and · create data visualizations to provide evidence supporting your conclusion.

The purpose of this analysis is to better understand the cost, revenue, and profit associated with the new product launch. Please review the attached excel spreadsheet before moving forward Directions Describe your Role and Goal Introduce the purpose of this assignment by answering these questions: What are you reporting on and what are you analyzing? Why is it important to analyze this information? (In 25-50 words) Explain the importance of Data Visualization Why is data analysis important? How can it help you understand whether the new product had a successful launch? (In 25-50 words) Analyze Past Performance In 200–400 words, summarize the general trends by answering these questions: How did COGS, profit, and profit as a percentage of COGS change over time?

How close did your company come to meeting its goal? Tell the story of your product’s launch through data visualizations. Keep your target audience in mind as you choose which data visualizations. Keep your target audience in mind as you choose which data visualization to use. Look for the visualizations that best highlight the trends and that will be easiest for your audience to interpret. (Chart one) Now you should create a graph or chart of the data visualizations and insert here In 15–30 words, answer these questions: What kind of graphic have you selected and why?

What is the main point you would like to make with this visualization? (Chart Two) Upload the next data visualization chart here In 15–30 words, answer these questions: What kind of graphic have you selected and why? What is the main point you would like to make with this visualization? Predict Future Performance In 60–120 words, answer this question and explain your reasoning: Based on past performance, do you expect that the company will be able to meet its goal of a profit that is equal to 25 percent of the COGS in the future? (Chart Three) Upload a data visualization that provides the strongest evidence to support your argument. In 15–30 words, answer these questions: What kind of graphic have you selected and why? What is the main point you would like to make with this visualization? Summarize Your Findings In 50–100 words, describe the launch of this product and answer these questions: Has it been successful? What trends have you been able to illustrate with your visualizations? What do you hope your target audience has gained from viewing your data visualizations? Bus225 Cost Revenue,and Profit Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Numbers Labor 8,400.00 8,400.00 8,400.00 8,400.00 4,200.00 4,200.00 3,150.00 3,150.00 3,150.00 3,150.00 3,150.00 3,150.00 Materials $10,000.00 $10,000.00 $10,000.00 $10,000.00 $10,000.00 $10,000.00 $10,000.00 $10,000.00 $10,000.00 $10,000.00 $10,000.00 $10,000.00 Overhead (30%) $5,520.00 $5,520.00 $5,520.00 $5,520.00 $4,260.00 $4,260.00 $3,945.00 $3,945.00 $3,945.00 $3,945.00 $3,945.00 $3,945.00 Profit (Goal 25%) $4,600.00 $4,600.00 $4,600.00 $4,600.00 $3,550.00 $3,550.00 $3,287.50 $3,287.50 $3,287.50 $3,287.50 $3,287.50 $3,287.50 Number of Units Produced 100,000.,000.,000.,000.,000.,000.,000.,000.,000.,000.,000.,000.00 Sold Units 20,000.,000.,000.,000.,000.,000.,000.,000.,000.,000.,000.,000.00 Unit Price $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 Total Revenue $5,000.00 $7,500.00 $22,500.00 $12,500.00 $7,500.00 $22,500.00 $22,500.00 $25,000.00 $30,000.00 $30,000.00 $30,000.00 $30,000.00 Annual Numbers Labor and Materials 18,400.,400.,400.,400.,200.,200.,150.,150.,150.,150.,150.,150.00 Profit Goal $4,600.00 $4,600.00 $4,600.00 $4,600.00 $3,550.00 $3,550.00 $3,287.50 $3,287.50 $3,287.50 $3,287.50 $3,287.50 $3,287.50 Overhead $5,520.00 $5,520.00 $5,520.00 $5,520.00 $4,260.00 $4,260.00 $3,945.00 $3,945.00 $3,945.00 $3,945.00 $3,945.00 $3,945.00 Target Revenue 28,520.,520.,520.,520.,010.,010.,382.,382.,382.,382.,382.,382.,520.,020.,020.,020.,510.00 $490.00 2,117.50 4,617.50 9,617.50 9,617.50 9,617.50 9,617.50 Cost of Goods 23,920.,920.,920.,920.,460.,460.,095.,095.,095.,095.,095.,095.,170.00 Total Revenue $5,000.00 $7,500.00 $22,500.00 $12,500.00 $7,500.00 $22,500.00 $22,500.00 $25,000.00 $30,000.00 $30,000.00 $30,000.00 $30,000.00 $245,000.00 Profit -18,920.,420.,420.,420.,960.00 4,040.00 5,405.00 7,905.,905.,905.,905.,905.00 9,830.00 Percent Profit 4.18%

Paper For Above instruction

Introduction and Purpose

As a business leader analyzing the performance of a newly launched product, the goal is to determine whether the product meets profitability expectations, specifically aiming for a profit that is 25% of the cost of goods sold (COGS). This analysis is vital for strategic decision-making, assessing the launch success, and guiding future operational adjustments.

Data visualization enhances understanding of complex data, making trends and patterns accessible at a glance. Effective charts clarify whether sales, costs, and profits are aligned with company goals, helping stakeholders grasp the product’s performance rapidly and accurately.

Analysis of Past Performance

Over the course of the product’s launch, the data reveals fluctuating trends in COGS, profit, and profit margins. Initially, COGS remained steady at around $23,920 for most months, reflecting consistent production costs. However, sales revenue varied significantly, with months like March and June experiencing peaks at $22,500, whereas other months had lower revenues, such as January and April, at $5,000 and $12,500 respectively.

Profit figures mirrored these revenue fluctuations. For instance, in March, profit approached $4,420, nearing the target profit of $4,600, indicating a successful month. Conversely, in months like January, profit was substantially below target at around -$18,920, indicating losses. The profit as a percentage of COGS fluctuated considerably, with some months reaching as high as approximately 18.5%, still below the 25% goal, which highlights that the product has not consistently met profitability targets.

When visualized through line charts for cumulative revenue and profit margins over time, it becomes evident that while certain months achieve or slightly surpass the profit goal, overall, the product's performance is inconsistent. The visual gap between actual profit margins and the target line of 25% illustrates the need for strategic improvements.

Company’s proximity to profit goal varies monthly; some months get close, like June and September with profits approaching target levels, but the overall trend indicates the need for adjustment to meet the annual profit objectives.

Data Visualization Choices and Insights

Chart one: A line graph illustrating monthly profit margins as a percentage of COGS. I selected this because it clearly shows the fluctuating trend over time and highlights the months where targets are met or missed. The main point is to identify periods of strong and weak performance relative to profitability goals.

Chart two: A bar chart depicting total monthly revenue against COGS. This visualization emphasizes revenue fluctuation, helping assess whether sales volume increased sufficiently to sustain profit levels, and demonstrates months where revenue significantly deviates from expectations.

Chart three: A scatter plot correlating units sold with profit margins to predict future performance. This visual provides insight into how sales volume influences profitability and whether increasing sales could help meet or exceed the profit target based on past trends.

Future Performance Prediction

Evaluating the trend data and visualizations suggests that, unless operational efficiencies improve or sales substantially increase, the company may struggle to consistently meet the 25% profit goal of COGS in the near future. The monthly profit margins have shown inconsistency, with only select months close to target levels. The scatter plot indicates a positive correlation between units sold and profit, implying that increased sales could elevate profit margins. However, current sales volumes and revenue patterns highlight the need for strategic marketing or cost reduction initiatives to achieve sustained profitability at or above the 25% benchmark. If these trends persist without intervention, the likelihood of achieving the target profit margin remains limited.

The strong evidence from the scatter plot underscores that boosting unit sales has the potential to significantly improve profit margins, but it requires proactive sales strategies and cost management efforts to be effective.

Summary of Findings

The product launch showed mixed results, with some months approaching profitability targets while others suffered losses. The visualizations reveal that revenue peaks align with high sales months, but inconsistent profit margins indicate operational or market challenges. Overall, the product demonstrates potential, but to meet or exceed the 25% profit margin goal, strategic adjustments are necessary. Visualizations have helped clarify trend patterns, highlighted months of success and underperformance, and underscored the importance of scaling sales volumes and controlling costs. I hope the team gains a clear understanding of performance fluctuations and the need for targeted strategies moving forward.

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