Wal-Wart Data Analysis

Wal-Wart Data Analysis

Introduction

Generally, data analyzing is the process of gathering, researching, cleansing, modifying, and improving data with the motive of getting crucial information, informing conclusions, and upholding the making of decisions. It enables the extraction and retrieval of essential information that can be relevant in making a decision for a particular line of production or management in the company. Data analysis for big companies or firms may be done through various methods, such as the quantitative method of research method. Every technique of analyzing data involves some distinct methods like the use of interviews, observations, collecting, and organizing of data. Data analysis is a five-step process(McCue, 2015). An expert in data analysis must be able to adhere to the different steps of data analysis; he should be able to define his questions thoroughly, set vivid measurement priorities, collect data, analyze data and finally interpret the results.

For that case, the Wal-mart firm executive team has mandated me with the task of collecting and analyzing the essential data points that will help the firm in making the decision to expand its business to the North of the United States, New York, and New Jersey countries. Here my focus will be collecting data relevant to help Walmart executives determine if the foreign market is viable for their expansion.

Defining the relevant questions to guide me/the abstract of research

In this case of determining the viability of the foreign business expansion, data collected and analyzed will be specific and related to the gross national income of Northern United States; I will keenly ask myself questions on the population and demographic information; how is the size of their people? Here the people can be viewed to be big or small depending on the number of people it is holding. Are the market conditions like economic, social, political, and cultural factors of business favoring or discouraging? Foreign rates of exchange; are the foreign exchange rates favoring or poor? Credit environment outlook; is the technology affordable in these states? How are the rural credit regulations and marketing support in New York State? The labor market aspects like the rate of unemployment, living standards costs, and wage averages; here, I will ask myself about how is their living standards there? Are the costs of living so high or low? And how is their unemployment structure, are many people employed or unemployed? The key economic metrics, like the current financial status, inflation, and such.

Data collection in New York Particularly

Firstly, looking at the demographic information of the Northern United States, I found that 17.1% of the United States population occupies the Northern part of the U.S. The community here involves Michigan, Maine, Indiana, Dakota, etc. I also realized that the population growth in these states is rapidly growing. As per the current statistics, I found that most of the population compositions in this area are men, and 75% of the population dwells new the big cities, which will be an advantage to the Wal-Mart foreign expansion as its sales volume will increase due to a massive number of the potential clients. Additionally, the significant population here is employed, and this means that the people around these zones are probably potential customers who can definitely purchase the productions of this firm (John k, 2013).

The table of employment and population estimation size

Secondly, I will examine the gross income of the states in the Northern part of the United States, as have already outlined in my discussion on the demographic composition of these states population. It is evident that a significant population is employed, 87% of the total population is working, and that means the government accumulates much of its national income from income taxes from this population. Other substitutes of the gross national economy of these areas are the agricultural productions such as dairy products, nursery products, the greenhouses, and the hay. New York is currently the leading state producing goods variety from the pharmaceuticals to machinery and computer chips. They also trade the most precious minerals like limestones used to crush during the construction of roads. This all accumulates to the gross national income of New York is so huge. This implies the high rate of growth in the nation, and it will automatically favor the expansion of Wal-Mart venture in the New York state. In terms of the interest rates, the consumer and business confidence lending cycle of the country is favored by the high gross national income. So then in my analysis, I can confidently suggest the Wal-Mart firm extends its operations and provisions to these foreign states, which got favorable rates of interest and consumer-business confidence.

Thirdly I have to ideally look at the market conditions of the New York state. Basically, the New York economy comprises of the biggest regional and municipal United States economy. In the records, this state has been associated with the globe’s big financial center. Because it is the base of the stock exchange of the New York and NASDAQ, the globe’s two biggest stock exchanges by trading operations and capitalization of the market, this has facilitated the rice of its Gross Domestic Product to US$ 1.34 trillion just with its pure population. The interest rates and sakes turnover in these states are generally very high. This means if Walmart’s firm extends its operations in these states, it will enjoy the high rates of stock turnover of its products and still the right and favorable interest rates from the financial lenders. It is as well the leading globe’s financing and banking center and communication. More of the big international organizations are headquartered in this state. This is vividly evident that New York is the center of a variety of businesses. And this is clear proof that Wal-Mart’s expansion to these states will definitely thrive because New York is all to do with companies and ventures.

Fourthly am focusing on the current economic status of the New York, where I will examine and analyze some aspects like the inflation status of the country, as I already discussed, New York is leading in terms of financial services, health care, retail trade, manufacturing of chemicals and other pharmaceuticals and even the education services are more advanced in this country. Here I am trying to make it clear that the New York economy is much stable, and inflation got no pace in this state. From the current statistics, it’s evident that New York has had a rate of less than 4% in increase between 1914 and 2020, and this is according to the U.S. Bureau of Labor Statistics tracking the price index of the consumer in New York City. New York is the center of health services, which means that health status is very high, and that favors the establishment of any business venture. Good education also ensures that the labor factor provided in New York is unique in terms of professionalism. Hence it will be an achievement if Walmart extends its business to this particular state (Netzer, 2019).

Fifthly, the aspect of foreign exchange rates in New York. Geographically New York is the only favorable destination when you travel to the United States, and most of the visitors tend to exchange their currency here. With this fact, they are high charges associated with the conversion of the money, and this spreads out to every other state. In general, the New York currency tends to be of high value. This means that the weaker currency will encourage exports and result in imports being very expensive, hence reducing the nation’s trade deficit over a specific duration of time. Currency depreciation is a natural occurrence of the exchange rate floatation systems and which is the trend of many business economies. Many primary and factors technically affect the rates of exchange of a currency to the other (Wang, 2017). Supply and demand of the two currencies, the progress of the economy, inflation outlook, technical assistance, and capital inflows are an example of such factors. The depreciation of the domestic currency will result in competitive export business markets. This implies that the Wal-Mart Company will be able to have a much competitive demand for its extended services and products to these states due to Wal-Mart’s depreciated currency. It is then my advice that they extend their business activities to these nations as the company will realize the health exportation business.

Lastly, I will examine the labor market of New York City; here, I will focus on the employment rate, the average wage rates and probably the living standards cost, the working conditions and compensations, and prices, and living conditions of New York City. From the current statistics, the New York State of Department of Labor gave the unemployment rates for the year 2020. Considering the year 2019 February to February 2020, the rate increased by 75000 job count in the private sector, and that implies an unemployment decrease from 3.8% to 3.7%, and that slightly reflected any impact economically in the state.

Local area unemployment statistics in some parts of North United States

It is evident that the counties in the New York State had the lowest unemployment rates in 2020, and this implies a good performing state’s economy. The above data include seasonal influences like vacations, and summer hires. The labor market is perfect and competitive in New York City, and that is a great achievement to the Wal-Marts Company if it extends its dealings in New York City. The company will enjoy the most sales volume because it is clear that above 90% of its total population is working and receives income every month. It is by this income where they will get many and more so the potential customers for their products and services. I will advise the Wal-Marts executive team of decision making to consider expanding their business to this foreign state and enjoying such an opportunity of a nation completely occupied by potential customers.

Analyzing data

In data analysis, I am going to combine all the collected information, transform it, and modify it to see if it brings the essential conclusions. Firstly, I thought that the New York case would suit my research because all the factors have discussed seem to be much welcoming, particularly in New York. From the data collection, it is clear that most population is employed and that there are no problems associated with unemployment factors. This proves that most of the individuals in this state are really potential customers to what Wal-warts company may offer to them. In terms of population, my research results prove that a considerable community lies between the age of (15-64), and this is generally the population associated with much spending usually. It will be lucky for Wal-Marts to extend its provisions to such a state. On the other hand, the economy of New York is much stable, and it will always affect the performance of any business positively, it is an opportunity for Wal-Warts Company to venture in such favoring economy. The economic status is very suitable as there are no issues of inflation; politically, the state is very stable and supports the growth of any venture. Improved education and health services added to the economies’ value. The foreign exchange rates are also supporting such that the Wal-Wart Company will enjoy the competitive growth of its exports.

Interpretation of the results

As an expert in data analysis, I think I have given the best in this case; in summary, it is obvious that New York is one of the most developed states with its political and economic sector being very stable and favoring. From the analysis above, it is true that this is the best foreign country that one would ever think of investing in or extending his/her business to. For the Case of Wal-Mart Company, my employers, New York state of the economy, is not just an opportunity, but instead, it is absolutely a big opportunity that they should decide to venture in. This is because it has all the best favorable conditions for any foreign investment to thrive. Their expansion to that foreign nation will be absolutely viable with no doubts.

Conclusion

In conclusion, I have factored everything that acts as a determinant of business viability in foreign countries and even locals. Issues like the economic status of New York, which was my primary concern, the unemployment structure of the city detailing the standards of living costs and other related factors. The foreign exchange rates will positively affect Wal-Marts currencies and transactions hence favoring their exportation market. The population here is medium, which is mostly associated with high spending, and that will provide high sales rates and turnovers. For me, New York is extremely the best potential to venture in because of its encouraging business environment. Everything is fresh in that state, both politically and economically. I would recommend that the Wal-Marts executive team considers this as a significant opportunity that they should focus on exploiting because it is actually significantly viable. If they extend their operations in New York, then they will definitely enjoy more and significant profit margins for the high stock turnover.

References

John k. (2013). Currently economically active population (labor force). doi:10.18356/fed86056-en

McCue, C. (2015). Process models for data mining and predictive analysis. Data Mining and Predictive Analysis, 51-74. doi:10.1016/b978-0-12-800229-2.00004-3

Netzer, D. (2019). The economy and the governing of the city. Urban Politics New York Style, 27-59. doi:10.4324/9781315289250-2

Wang, P. (2017). Foreign exchange markets and foreign exchange rates. The Economics of Foreign Exchange and Global Finance, 1-15. doi:10.1007/978-3-642-00100-0_1

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