Question

Please answer two last questions that are bold.

Be sure you have access to the “Big Data Exercise” excel file. This file will contain data for a list of questions. The “Questions” sheet should show you a list of questions. The “Data” sheet will have the collected data points from the questions. The top row of that sheet will indicate the question number from the other sheet. Please keep in mind that the “Big Data Exercise” file is in no way a representation of Big Data used in the real world.

Feel free to manipulate and organize the data to help you answer the following questions. You will use the data to create graphs or charts to support your statements. You can also sort, filter, group, etc the data as well. The goal of this assignment is to extrapolate useful information, patterns, and find relationships.

Review the “Big Data Exercise” file carefully. Using a minimum of 3 levels data points (questions) what type of services or product would you be able to create that you would sell to these people:

1. What is this product/service? How and why would people use it? Explain.

   1. One possible product to sell to customers would be a dessert and candy store. The store would likely be small and run by 3-6 employees and customers would come to the store as a family or parents would come for their kids to buy delicious, flavorful candies.

2. What are these data points (questions) (3 Minimum) you used to come up with this business?

   1. How old are you?

   2. Do you like spicy food?

   3. Do you currently have a paying job?

   4. How many siblings do you have?

   5. Do you like salty or sweet snacks?

   6. Do you still live with your parents?

   7. How many dependents (children) that lives with you.

1. What calculations and methods from these data points did you use to create the information you need for your business? (Include charts and calculations of average, mean, median, high, or low values) And why these values affect your decision to create this business.
2. Based on the calculated values and data points what demographics would your product/services target? Relate the values from 1c to your explanation.

Answer 1

A. Dessert / Candy Store

Appropriate data points for creating information to take business decision while starting a dessert / candy store in any locality should be meticulous. One needs to create a sample survey to arrive at decisions to strategies operation. Such question / data points are as below,

Sr. No	Question / Data points	Answer range	Question’s Relevance to business Type	Objective of Question / Data Points
1	How old are you?	A – Age 1 yr to 5 yr, B - Age 6 yr to 10 yr C – Age 11 yr to 15 yr D – Age 16 yr to 20 yr	Relevant	1. Helps in identifying the targeted customers 2. To understand Volume of Potential Customers
2	Do you currently have a paying job?	A – Yes B - No	Not Relevant
3	Do you like spicy food?	A – Yes B - No	Less Relevant	To understand food interest of customers But it only focuses on spicy food thus less relevant to dessert / candy store business
4	How many siblings do you have?	A – 0 / none B – 1 C – 2 D – 3 and More	Less Relevant	To understand Volume of potential customers
5	Do you like salty or sweet snacks?	A – Sweet B - Salty	Relevant	To understand food interest of customers between Salty and Sweet.
6	Do you still live with your parents?	A – Yes B - No	Not Relevant
7	How many dependents (children) that lives with you ?	A – 0 B – 1 C – 2 D – 3 and more	Relevant	To understand Volume of Potential Customers

Please note that out of the above 7 data points mentioned in the question, for opening a Dessert / Candy Store only 3 data points (Questions) are relevant to be part of the survey and only those questions are considered in the sample survey to arrive at business decision

Sample survey should be conducted considering the population in the vicinity, this sample survey should be carried out with 10% to 20% of the population to understand the target customers and their inclination towards the product type

for example if the residential area has a population of 10,000 People, than atleast 1000 to 2000 people should be covered through the survey.

Once the survey is carried out between 1000 to 2000 people, a sample data would be available which can be used to give in depth analysis of the data and create the charts, graphs as required.

Let us assume that 1500 sample survey was successfully carried out and results were as follows

Sr. No	Question / Data points	Answer range	Data Analysis of Answer	Interpretation from the answered data
1	How old are you?	A – Age 1 yr to 10 yr, B - Age 11 yr to 20 yr C – Age 21 yr to 30 yr D – Age 31 yr and above	A – 50 Nos B – 550 Nos C – 500 Nos D - 400 Nos	40% of population is below 20 yrs which can be potential customers for a Dessert / Candy Store
2	Do you like salty or sweet snacks?	A – Sweet B - Salty	A – 1100 Nos B –   400 Nos	73.33% of the people love sweet snacks over the salty snacks
3	How many dependents (children) that lives with you ?	A – 0 B – 1 C – 2 D – 3 and more	A – 200 Nos B – 900 Nos C – 400 Nos D - 0 Nos	60% of people have atleast 1 child 30% of people have 2 dependent children with them They can be targeted customer for the candy / Dessert store