Question

If you were given a large data set, such as the sales over the last year of our top 100 customers, what might you be able to do with these data? What might be the benefits of describing the data?

Answer 1

It is given that we are given a large data set, such as the sales over the last year of our top 100 customers.

We might be able to do the following with this data :-

a) We could say that which group of people would buy which product. From the given data, we could say that kids prefer product 1 or the old generation prefer product 2. We could also say that the males and females would prefer different products. From this, we could say that which group of people prefer which product.

b) We could also say that which type of products are sold the most. From this, we could say that which products are preferred the most accordingly which the marketing department could arrange items.

The benefits of describing the data are :-

a) The marketing would be helped on targeting sales due to the description of the data.

b) We could understand that which category of customers are very active or which category of items are sold at which rate. From this, the list of future products can be shown.