This essay entails a Statistical Data Analysis paper of a Fast-Casual Restaurant Chain as an example of a case study. Statistical Data Analysis is a widely used method of explaining data to get information needed.
Statistical Data Analysis Fast-Casual Restaurant Chain
Firstly, evaluate the performance of current marketing strategies, and recommend actionable business decisions. This is an opportunity to build critical-thinking and problem-solving skills within the context of data analysis and interpretation.
Also, pastas R Us, Inc. is a fast-casual restaurant chain specializing in noodle-based dishes, soups, and salads. Since its inception, the business development team has favoured opening new restaurants in areas (within a 3-mile radius) that satisfy the following demographic conditions.
Secondly, Last year, the marketing department rolled out a Loyalty Card strategy to increase sales. Under this program, customers present their Loyalty Card when paying for their orders and receive some free food after making 10 purchases.
Thirdly, the company has collected data from its 74 restaurants to track important variables such as average sales per customer, year-on-year sales growth, sales per sq. ft., Loyalty Card usage as a percentage of sales, and others.
Also, executive management wants to know whether the current expansion criteria can be improved. They want to evaluate the effectiveness of the Loyalty Card marketing strategy and identify feasible, actionable opportunities for improvement. As a member of the analytics department.
Fourthly, discuss the nature of the current database. What variables were analyze d?
Summarize your descriptive statistics findings from Excel. Use a table and insert appropriate graphs.
Lastly, based on your findings above, assess which expansion criteria seem to be more effective. Could any expansion criterion be changed or eliminated? If so, which one and why?
In conclusion, based on your findings above, does it appear as if the Loyalty Card is positively correlated with sales growth? Would you recommend changing this marketing strategy?