BBA/B.Com Analytics in Business Domains JUNE 2024

Description

Analytics in Business Domains

June 2024 Examination

 

 

1. ABC Corporation, a leading manufacturing company, faced several challenges in managing its workforce before implementing HR analytics. The HR department encountered difficulties in talent acquisition, performance management, and employee retention, significantly impacting overall performance. One of the main challenges ABC Corporation’s HR department faced was the high turnover rate. The company struggled to attract and retain top talent, leading to frequent disruptions in workflow and increased recruitment costs. Additionally, without a clear understanding of the factors contributing to turnover, the HR team found it challenging to develop effective retention strategies, exacerbating the issue further. Another challenge was the lack of visibility into employee performance and engagement. Traditional performance management processes were time-consuming and lacked  real-time insights, making  it  difficult  for managers to identify high-performing  individuals or address performance issues promptly. This resulted in suboptimal productivity levels and hindered the company’s ability to achieve its strategic goals.  Furthermore, the HR department faced challenges  aligning HR practices  with the organization’s overall objectives. HR leaders struggled to make informed decisions about workforce planning, training, and development initiatives without access to comprehensive data and analytics. This lack of strategic alignment hindered the company’s ability to adapt to changing market conditions and maintain a competitive edge. Overall, these challenges had a significant impact on ABC Corporation’s performance. The high turnover rate led to disruptions in operations, increased recruitment costs, and loss of institutional knowledge. Poor performance management practices decreased productivity and employee morale, further exacerbating turnover. Additionally, the lack of strategic alignment between HR practices and organizational objectives hindered the company’s ability to achieve its growth targets and maintain its position in the market. How can the use of HR analytics benefit this organization?      (10 marks)

Ans 1.

Introduction:

HR analytics, also known as people analytics or talent analytics, refers to the use of data and analytical techniques to understand, improve, and optimize various aspects of HR functions and workforce management. ABC Corporation, like many other organizations, faced several challenges in managing its workforce before implementing HR analytics. These challenges included difficulties in talent acquisition, performance management, employee retention, and aligning HR practices with organizational objectives. These challenges not only impacted the HR department but also It is only half solved

 

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2. In competitive swimming,  AquaAnalytics  (AA)  has  emerged  as  a  pioneering organization dedicated to leveraging data-driven insights to enhance athlete performance and optimize training strategies. Recognizing the importance of sports analytics in the aquatic world, AA embarked on a mission to revolutionize how swimmers approach training, technique refinement, and race strategy. One of the primary challenges swimmers and coaches face is the ability to measure and analyze performance metrics in the water accurately. Unlike many other sports, swimming occurs in a dynamic and fluid environment, making data collection and analysis more complex. To address this challenge,  AA  developed  innovative  sensor  technologies  and  underwater  tracking systems to capture a wide range of performance data, including stroke technique, lap times, turn efficiency, and physiological metrics such as heart rate and stroke count. With access to this wealth of data, swimmers and coaches can gain valuable insights into their performance and identify areas for improvement. How can swimmers and coaches benefit from using sports analytics?      (10 marks)

Ans 2.

Introduction:

Sports analytics has become increasingly prevalent in the world of competitive swimming, with organizations like AquaAnalytics (AA) leading the way in leveraging data-driven insights to enhance athlete performance and optimize training strategies. In the dynamic and fluid environment of swimming, accurate measurement and analysis of performance metrics present a significant challenge for swimmers and coaches. However, AA has developed innovative sensor technologies and underwater tracking systems to address this challenge, enabling the capture of a wide range of performance data, including stroke technique, lap times, turn efficiency, and

 

 

3. Starbucks, a well-known coffee chain, has faced challenges retaining customers across its stores. Despite maintaining high-quality coffee and providing excellent customer service, customers visit Starbucks sporadically and often explore other coffee options. Concerned about the potential loss of business, Starbucks launched a loyalty program to incentivize customer loyalty and encourage repeat visits. The “Starbucks Rewards” loyalty program allows customers to earn stars for every purchase they make at Starbucks stores. After accumulating certain stars, customers can redeem them for free drinks, food items, or merchandise. Starbucks implements a multi-channel marketing approach to promote the program, including email newsletters, social media campaigns, and in-store signage.

The loyalty program is a game-changer for Starbucks, as it successfully increases customer retention and drives sales growth across its stores. Customers are incentivized to visit Starbucks more frequently to earn stars and unlock rewards, leading to a significant increase in repeat visits and overall sales revenue. Moreover, Starbucks gains valuable insights into its customers’ behavior and preferences through the loyalty program, enabling the company to make informed business decisions and enhance the overall customer experience.

1. How did Starbucks’ loyalty program help the company improve customer retention and drive sales growth? (5 marks)

Ans 3a.

Introduction:

Starbucks, a leading coffee chain, faced challenges in retaining customers despite offering high-quality products and excellent customer service. To address this, Starbucks launched the “Starbucks Rewards” loyalty program, aiming to incentivize customer loyalty and encourage repeat visits. This program allows customers to earn stars for every purchase, which can be redeemed for free drinks, food items, or merchandise. The loyalty program is promoted through various channels,

 

1. How can Starbucks use analytics to gain information about its customers’ behaviour and preferences through the loyalty program, and how did the company utilize that information to make informed business decisions and enhance the customer experience? (5 marks)

Ans 3b.

Introduction:

Starbucks’ loyalty program, “Starbucks Rewards,” provides the company with valuable data and insights into its customers’ behavior and preferences. By analyzing this data, Starbucks can make informed