Description
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
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Explanation & Answer
Attached.
YORE BLEND ONLINE CO.
ANALYZING THE REASONS BEHIND WHY CUSTOMERS STOPPED
ORDERING PRODUCTS FROM YORE BLEND AND PROPOSING WAYS OF
INCREASING MARKETS AND CUSTOMER LOYALTY.
Agenda slide
AREAS OF ANALYTIC PLANS
DEFINING KEY TARGETS AND KEY PERFORMANCE INDICATORS
GROWING SALES
BRAND IMPROVEMENT AND DIFFERENTIATION
CUSTOMER LOYALTY
COMMUNITY ENGAGEMENT
IMPLEMENTATION PLAN
METHODS OF ANALYTIC METHODS
SWOT ANALYSIS
REFERENCES
Areas of Analytic Plans
The following are the objectives measurable metrics of Yore Blend in this
Analytic Plan
Growing sales
Brand improvement and differentiation
Customer loyalty
Community engagement
Implementation plan
Key performers indicators (KPI)
Under each area of analytic plan, there is analysis of different Key
Performance indicators (KPI) with their measurable metrics. The KPIs’ metrics
are as follows:
Growing sales__ growing Yore customer base and growing overall revenue
Brand improvement and differentiation_ new clients and item analysis
Customer loyalty__ analyzing the existing Yore customers and growing their
engagement with company activities
Community engagement__ growing number of customer likes and
followers, social ripples, and community outreach.
Growing Sales
measuring the growth of sales revenue
Using the following measurable metrics to analyze Yore Blend market
growth and overall sales
❑
Yore sales transactions
❑
Sales averages per every online orders
❑
Measuring revenues generated through sales per item categories
❑
Comparing Yore online sales and overall revenues per annum,
Growing Sales Cont.
grow customer base__ introducing new items in the market, grow YB
customer base based on certain items like home utensils,
Comparing sales and their corresponding revenues to determine
gross profit margin.
Analyzing sales targets of Yore
Sales opportunities with the company
Sales dates to determine days with more sales and those with less
sales
Product Performance in existing market
Brand improvement and differentiation strategies
Items or good differentiation by size, color, shape, originality, and
material.
Service differentiation when paying, distributing items, selling, and
after sale services
Distribution differentiation
Relationship differentiation
...