Computer Science
UC Big Data & Predictive Analytics Improve Social & Environmental Sustainability Discussion

University of the Cumberlands

Question Description

I’m working on a Computer Science exercise and need support.

Three separate documents are required for this assignment:

Submit:

(1) 300 word Executive Overview (Sunday 9AM EST)

(2) Individual Presentation (in PowerPoint format) (Sunday, 1PM EST)

(3) Speaker's notes in APA format with citations and references (Sunday, 1PM EST)

Individual Presentation in PowerPoint format

  • Minimum Slides = 25 (Include title page, references, and slides that address each of the required areas)
  • Minimum References = 5
  • APA Formatting

PART ONE:

Summarize the generic components of an analytics plan that includes (a) discovery/business problem framed, (b) initial hypotheses, (c) data and scope, (d) model planning and analytic technique, (e) result and key findings, and (e) business impact

PART TWO:

Create a proposed approach to an analytics plan specific to the given scenario.

  • Include each area of an analytics plan but make it specific to the given scenario
  • Include a proposed analytical method (and reasons for your choice)
  • Enhance your work with a visualization

Note:

  • You do not have to provide actual analytics (just a proposed analytical approach)
  • You do not have to provide a solution (just a proposed analytical approach to finding a solution)
  • Where specific information is missing from the scenario, improvise and list an assumption

Project Summary:

Yore Blends (YB) is a fictional online company dedicated to selling subscription-based traditional spice blends coupled with additional complementary products such as gifts, kitchen utensils, and eco-friendly storage options.

In the long term, they aspire to growing through mergers and acquisitions which requires a strong customer base and steady revenue. In the short turn, they are concerned about customer churn (the percentage of customers that have stopped buying their products and services).

Issue: Customers seem to stop ordering products and/or using the service after several months.

Business Believes: By targeting customers who are at risk for churn customer attrition can be reduced by 16%

Data scope: Customer account data for previous 24 months

Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

Final Answer

Attached.

Executive Summary
The analytics plan to be used in Yore Blend is a predictive analysis plan. Predictive
analytics utilizes models to predict occurrences likely to take place in the future, such as churn
risk. The analytics plan seeks to address the problem of churn in the company. Customer churn
refers to the number of customers who opt to leave a company within a specific time. Typically, it
occurs when customers are dissatisfied with the products or services offered by a business.
Predictive analytics is categorized under advanced analytics and is utilized by businesses
data to make predictions with regards to unknown future events. Predictive analytics make use of
multiple techniques ranging from data mining, statistics, modeling, machine learning, as well as
artificial intelligence to examine existing data and formulate predictions concerning the future.
The predictive analysis encompasses several statistical techniques like data mining, predictive
modeling along with machine learning. The aforementioned techniques deduce historical as well
as current situations to make future analysis regarding the data, thereby creating predictions on
unknown events to occur in the future. For example, in retail, predictive analytics is used to
improve sales positions and develop better relationships with customers.
Predictive modeling is done by using data to make statistical models that become used in
predicting values of unknown future events or situations. Predictive analytics are used by
organizations to extract data from existing data sets with the motive of recognizing trends along
with patterns that are then used in predicting future outcomes. Predictive analytics is pivotally
crucial to the business. Foremost, it enhances the business to collate data points of its customers
in both online and offline channels. Then extract actionable insights from the data that is used in
creating a roadmap for growth. Secondly, predictive analytics is utilized in determining customer
responses, purchases, and support cross-sell opportunities.


Predictive Analytics
student’s Name
Institution

Predictive Analytics






Helps in detection of fraud
It is significant in reducing risks
It is crucial in having a gain over competitor
It ensures better marketing campaign
Noteworthy in meeting the expectations of
customers

Focus on high-quality leads
• Have data concerning both customers and
potential customers
• Develop algorithms and characteristics focusing
on significant retail drivers satisfactory to
customers
• Ensure continued production of quality products
• Customer segmentation has to be done
• Produce goods with unique features that suits
their tastes

Significant Retail Revenue Drivers

Utilize machine learning methods to
create predictive models
• Using predictive analytics to make predictions
of the future
• Creating best predictive models for customer
retention
• Machine learning algorithms determine the
kinds of products suiting the needs of clients
• Invest on a highly skilled data analyst with the
ability to create predictive models
• Analyze relationships with customers using
predictive analytics

Have data-driven insights along with
text analytics
• Analyzing free-texts responses made by
customers
• Using a text analysis tool for sentimental
analysis of customers’ responses
• Develop an AI algorithm that automates
analysis of free-text feedbacks
• Use customer data to inform of decisions of
the business
• Spot areas that needs improvement to satisfy
preference of customers

Ensure segmentation
• Make use of data analytics to segment
customers
• Adopting diverse communication and
servicing strategies
• Analyze data like customer demographics
• Get to understand the value of customers
• Make use of right segmentation to create
targeted product recommendation

Develop a roadmap
• Have a clear strategy that embeds data and
analytics in the organization
• Hire a team of senior executives with adept
knowledge on customer analytics
• Implement organizational changes after
understanding the data
• Prioritizing tasks and assessing the technical
feasibility of the plan
• Gathering key stakeholders and define the
problems to be resolved to them

Creating a blueprint of the target
architecture
• Technology necessary for analyzing large
amounts of data
• Quick identification and connection of vital
data for use in analytics
• Enhancing feedback concerning the queries
and comments of customers
• Assessment of the required changes of data
• Resolving unstructured data by architects

Pay attention to complaints
• Listen to comments made by customers
• Engage customers by hearing their
experiences with products
• Install corrective measures suiting the needs
of customers
• Take complaints raised by customers seriously
and make amendments towards them
• Attend to dissatisfied customers to make them
loyal to the company

Statistics

Provide long time contracts
• Ensure extension of customer commitment
• Provide...

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UIUC

Anonymous
Thanks for the help.

Anonymous
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Anonymous
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