Setting the Promotional Strategy for a Bakery from Data
Strategy without supporting data lacks conviction just as descriptive data analysis without insights is incomplete. Data analysis plus thinking through what it means completes the loop in setting a strong strategy. Utilizing transaction data from a bakery, Stax's Jordan Bean goes through the process of data cleaning > analysis > strategy.
Knowing how to work with data and ask the right questions is important. In business, knowing what to do with those results is critical. The second step involves converting a chart, table, or statistic from descriptive (“Tell me what has happened”) to prescriptive (“Tell me what to do about it”).
For that reason, we’ll go through a project that builds on findings from data to set strategy. The only context that we have on the data is that it is transaction data from a bakery. It has a number, date, timestamp, and the item(s) purchased.
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