Topic: Business Analytics
Question: In your discussion post for Week 2, you were asked to predict what the data might tell you about the problem/opportunity you identified.
Did your analysis of the data confirm or refute your hypothesis? Explain.
Which data analysis tools among the ones we studied were most useful in analyzing the data you gathered? Explain.
How will you organize and share your data so that the story it tells is clear and compelling? (See p. 107 of Davenport & Kim for a list of types of visual graphics used to present data)
Here is what was submitted week 2 - I chose Netflix as the company for this research. Despite of its popularity and number of current user and market share, I think globally it is slowly losing business with number of other organization in the same sector providing cheaper options. I think the problem with Netflix is the slow rate of acquiring customer globally and the rate is going down because of increasing competition and this is alarming. If nothing done now, Netflix may soon be out losing business to competitors.
To analyze the issue more accurately I would need to collect the demographics, Sales and Product performance data. Demographics would be needed to know that what is the buying capacity of the customers from different regions and how is the market. This would continue with the competitors available in market for Netflix and the comparison of rates with competitor product pricing. Product Performance would be required for both Netflix and Competitors to compare the customer feedback on both.
I would do online research and have to do some survey to get the details from the customers which would help me to prepare a report for the CEO and senior management and show them that if no action is taken now it could be problematic for getting more business in future when market is expanding our rate of getting customer should increase but it is not.
My hypothesis is that Netflix is bringing better product range as compared to competitors but the price difference is so huge when it comes to competitors which are trying to sweep the market with really competitive pricing and will make it difficult for Netflix.
References -
1. 5 Business Lessons From the Netflix Pricing Debacle. (2011, December 28).
2. Evans, P. (2017, August 12). Netflix keeps adding members, but rising costs and risks bring new challenges.
3. Russell, J. (2016, July 19). Netflix's overseas problem: still too expensive and still not enough content.
Attachment:- Assignment File.rar