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Module Four Assignment
Hermes Ramos
Southern New Hampshire University
BUS 225: Critical Business Skills for Success
Sandra Sheppard
July 30, 2023
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Module Four Assignment
Explanation of the Importance of Data Analysis
Data analysis is vital in conducting thorough research and understanding the collected
data. Quantitative data allows the firm to gain a deeper understanding and valuable insights,
which helps to explain the new product's performance. Data analysis allows the firm to create
comprehensive adoption strategies and set realistic expectations for the product based on
available data. Visualization techniques enable the firm to present this information visually,
making the data easier to be understood by the stakeholders. The report describes the product's
financial performance from January to December. By carefully analyzing this data, the firm can
gain valuable insights to help plan future product launches and developments and a stronger
connection between our data and product development. Data analysis enables the firm to make
data-driven decisions and ensure our product launches are informed and aligned with market
trends. By continuously analyzing and interpreting data, the firm can identify opportunities for
improvement and customer preferences. The firm can implement continuous improvement tools
to improve the current process.
Description of Findings
Three key points emerged from analyzing the data gathered, which are:
1. Profits were volatile per month. During the first and second fiscal quarters, the firm failed
to meet the projected profit targets and declared losses from January to May. The first
month of profit was in June; however, the company posted its first monthly profit,
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21.89%. The profit is still below the target profit. The third and fourth quarters exceeded
the firm's projected profit target.
2. Regardless of the units sold, the firm keeps producing one hundred thousand units
monthly. It was not until the last month of the third quarter through the fourth quarter
exceeded the number of units produced by twenty thousand.
3. The reduction of labor costs and overhead reduced the COGS. The amount of reduced
was one thousand three hundred and sixty-five dollars. The firm lowered its COGS by
reducing labor costs and ensuring the product reached the profit target. Profit targets in
the following months.
Summary of Results
Profi t per Month
32,500.00
27,500.00
22,500.00
17,500.00
12,500.00
7,500.00
2,500.00
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Cost of Goods 23920 23920 23920 23920 18460 18460 17095 17095 17095 17095 17095 17095
Total Revenue 5000 7500 22500 12500 7500 22500 22500 25000 30000 30000 30000 30000
Cost of Goods Total Revenue
The chart that was chosen is the bar chart. The reason for this chart is to help stakeholders
identify the reduction of COGS from the launch to the end of the fiscal year and COGS versus
revenue of the product from the launch to the end of the fiscal year.
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The chart that was chosen is the bar chart. The reason for this chart is to help stakeholders
identify the forward progression of profits of the product from the launch of the product to the
end of the fiscal year.
The analysis of the quantitative data has revealed opportunities for improvement. One
such area is the number of units produced per month. The firm would reduce the use of
resources, which would result in reaching the target profit. Another area of improvement is being
able to forecast the demand and the supply. Properly forecasting the demand would help the
product reach its target profit. The firm learned and reduced the COGS from the product's initial
launch to the last quarter. If the firm can implement and develop key performance indicators for
these areas of improvement on its next product launch, it will generate profits within the first
fiscal quarter.