Step 2: Writing Report
Explain the value of using data analysis.
Explain the risks of not using data visualization.
The report should explain the data that you have analyzed throughout the course.

Step 3: Lessons Learned
Identify some key points that you found about data analytics in this course and add a slide for lessons learned at the end of your presentation on what you learned this session.

Answers

Answer 1

The value that can be gotten from Data analytics is that it can aid companies to have broad knowledge of market segments, and can help to increase their market share as well as revenue growth.

The risks of not using data visualization is that the company may not be be able to to maintain the audience's interest with information.

What is the importance of Data analytics?

For example, data analytics can help businesses find underdeveloped market areas, anticipate client wants, and improve their product offers. Businesses that use data analytics to acquire a competitive edge can grow their market share, accelerate revenue growth, and strengthen their brand.

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Related Questions

Time series data or trends are useful in forecasting, however, this is said to be hindered by one major problem. Basing on your understanding on these data, explain what is actually limiting these datas from being used directly in forecasting.

Answers

Time series data or trends are commonly used for forecasting, but their direct use is hindered by several limitations.

The limitations of Time series data

These limitations include seasonality, which introduces regular fluctuations that can obscure the underlying trend; trend changes, where the pattern of the data shifts over time; irregularity and noise, which are random variations that make it difficult to discern true patterns; and non-stationarity, where the statistical properties of the data change over time.

These challenges make it necessary to employ advanced techniques and models to address these limitations and improve forecasting accuracy. These techniques involve mathematical transformations, filtering methods, smoothing techniques, and the incorporation of additional variables or external factors to account for the complexities present in the time series data.

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MORTON COMPANY TRANSFER PRICING

The Cycle Division of Morton Company has the following per unit data related to its most recent cycle called Roadbuster.

Cycle Division -Morton Bodyframe Division
Selling price $2.000 Selling price $360
Variable cost of goods sold $1.200 Variable cost $250
Body frame 300
Other variable costs 900 Contribution margin
Contribution margin $800

Presently, the Cycle Division buys its body frames from an outside supplier. However Morton has another division, BodyFrame, that makes body frames for other cycle companies.
The Cycle Division believes that BodyFrame’s product is suitable for its new Road- buster cycle. Presently, BodyFrame sells its frames for $360 per frame.
The variable cost for BodyFrame is $250. The Cycle Division is willing to pay $280 to purchase the frames from BodyFrame.

(A) Assume that BodyFrame does not have excess capacity and therefore would lose sales if the frames were sold to the Cycle Division. If the Cycle Division buys 1,000 frames from BodyFrame, determine the following: (1) effect on the income of the Cycle Division; (2) effect on the income of BodyFrame; and (3) effect on the income of Morton.

Answers

the effect on the income of Cycle Division is $650,000 increase, the effect on the income of BodyFrame is $80,000 decrease, and the effect on the income of Morton is $570,000 increase.

The effect on the income of Cycle Division, BodyFrame, and Morton can be determined by using the transfer pricing method. There are two types of transfer pricing methods, which are:

1. Market-based transfer pricing

2. Cost-based transfer pricingIn this case, the cost-based transfer pricing method will be used. The transfer price will be set as per the cost incurred by the seller and then the buyer will pay the transfer price for the product purchased.

(1) Effect on the income of Cycle Division:Calculation of contribution margin if the Cycle Division buys from BodyFrame:Selling price - Variable cost of goods sold

per unit= $2000 - $250 = $1750Contribution margin per unit = $1750 - $300 = $1450

Contribution margin if the Cycle Division buys 1,000 frames from BodyFrame = 1,000 × $1450 = $1,450,000

Contribution margin if the Cycle Division continues to buy from the outside supplier = 1000 × $800 = $800,000Effect on the income of Cycle Division = $1,450,000 - $800,000 = $650,000 (increase)

(2) Effect on the income of BodyFrame: The BodyFrame division will sell 1000 frames to the Cycle Division. The selling price of the frames to the Cycle Division is $280 per frame.

Variable cost of the frames sold to the Cycle Division = $250 per frame. Contribution margin per frame = Selling price - Variable cost per unit= $280 - $250 = $30Contribution margin if the BodyFrame division sells 1000 frames to the

Cycle Division = 1000 × $30 = $30,000.Contribution margin if BodyFrame sells the 1000 frames to external customers = 1000 × ($360 - $250) = $110,000Effect on the income of BodyFrame = $30,000 - $110,000 = -$80,000 (Decrease)(3) Effect on the income of Morton:The effect on the income of Morton is the sum of the effect on the income of Cycle Division and the effect on the income of BodyFrame.

Effect on the income of Morton = $650,000 + (-$80,000) = $570,000 (increase)Thus, the effect on the income of Cycle Division is $650,000 increase, the effect on the income of BodyFrame is $80,000 decrease, and the effect on the income of Morton is $570,000 increase.

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Other Questions

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