Data analysis can be described as the use of statistical and analytical methods to analyze data to uncover useful information. This comprehensive process involves the capture, analysis, distribution, and presentation of data in an easy-to-understand manner that allows organizations to make informed decisions (Grant 2020). Data analysis can be used to draw educated, but also effective conclusions. Organizations can use data analysis to understand their market and compare it to their competitors (Richmond 2006). Businesses can use data analysis to identify the risks that should be avoided, and which opportunities they must take advantage of in order for them to continue growing. Data analysis also allows companies to assess customer satisfaction levels and to identify consumer needs in order for them to develop new products and services. This study evaluated the product’s performance and determined whether the results met the company’s expectations. The profit goal of the company is 25% of its cost-of-goods sold (COGS). Visuals will be provided in the study to aid understanding the costs, revenues, and profits associated with this new product. The bar graph that shows the price of each item and its income was created in the present study. The bar graph shows the relation between revenue growth and cost increases. To compare profits produced to company targets, a line graph was also created. The line graph will make it easier to assess whether the new product has met the expectations of the business. Remember that graphics are often used to communicate facts to a target audience. Visuals can help identify market trends and make educated decisions.
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