AMAZON DATA SET AND EXCEL FUNCTIONS 2
Amazon Data Set and Excel Functions
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Data analysis is a technique used by many companies to critically analyze their data sets by using statistical or logical techniques (Munch, 2017). Data analysis helps the corporation or any business organization plan strategically to improve its operations and maximize profits. Many companies keep their data sets as these data sets will help them way themselves on the corporation’s progress. In this research paper, I will discuss the Amazon data sets and give an overview of the importance of the Amazon data set to the company. In addition, this research paper will critically articulate what Excel functions have been used on the Amazon data set and how these functions have been demonstrated on the Amazon data set.
Amazon is one of the largest companies in the world today. Amazon has been in the market since 1998; hence data must be well kept to trace the corporation’s progress. The Amazon data set provided in the Excel sheet shows the company’s revenue in US dollars, net tax, year, the company’s total assets, and the number of employees. The data set is arranged in an orderly manner that is easily understandable. The data set shows the data of Amazon from 1998 to 2020. Amazon’s total revenue of each has shown to increase drastically from 1998. In addition, the data set shows the total net income of Amazon from 2007 to 2020. It’s noticed that the data set does not include the Amazon net income from 1998 to 2006, which can be explained as the company was still very small and did not have much and therefore did not keep track of their total net income.
Consequently, the Amazon data set shows the total assets of the company from 2007. Assets can be seen as the total worth of the company. Amazon assets have steadily increased from 2007to 2020. Also, the company’s total assets from when the company started have not been recorded in the data set. Also, the data set shows the Amazon employees, which are seen to have an increment from 2007 to 2020.
The Amazon data set is significant to the corporation as it helps in planning and also showing the progress and the development of the company from when it started in 1998 to 2020. Data storage is a key component in the success of a business. The Amazon data set helps Amazon to organize and plan its financials. The revenue recorded each year helps the company know the company’s development and plan its financials. The finance of any corporation or business should be well planned to help the company achieve its main goals.
The second importance of the Amazon data set to the Amazon Corporation is that it helps understand and improve the business process to reduce money and time wastage. The Amazon data set is well organized and shows the business development and its improvement, reducing money wastage as the corporation’s financials are well planned out following the data set.
The third importance of the Amazon data set to the Amazon Corporation is that it helps the organization know its assets. Assets are the worth of the company. Assets include all the company resources and all the infrastructure development it has made. The data is the assets data that can be easily seen and well tracked, which helps Amazon know the development of all its assets. In addition, well-arranged assets help attract other investors to come and invest with the company hence increasing the company’s development. Also, well-arranged data of the Amazon assets helps the company to compete with other large companies, which and helps Amazon to develop significantly.
Another significant importance of the Amazon data set to the corporation is that it helps track the number of employees the company has employed over the years. The corporation’s tracking helps Amazon know how much the employees are paid and identify any loopholes that might make the corporation lose some money. Also, the increase in the number of employees helps the company track its development.
The Amazon data set is very vital to the development of the Amazon Corporation as it helps in business planning, market planning, risk planning, and descriptive planning (Van Rijn, & Hutter, 2018). Also, using this data set, the Amazon Corporation can track its revenue over the years from when it started. In addition, the data set helps the company knowing its profits and losses, which makes it make the appropriate decisions to help it maximize its profits.
Excel functions are a formula that helps a person perform mathematical, statistical, and logical operations in excel (Murray, 2021). This excel function helps in calculating the data provided in this data set in a faster way and also in an organized way. Some of the functions I used in the Amazon data are the SUMIF, AVERAGIF, SUMIFS, and AVERAGEIFS. Sumif function, which is used to sum the values of cells that meet multiple criteria. The SUMIF function used in the Amazon data set is used to get the summation of all the Amazon revenue greater than 610$.
The second function is the average used to return the average or the mean of all the cells in a given range meeting given criteria. In the Amazon data set, I have used the Averagif to find the average or the mean of the Amazon net income greater than 476$. The other excel function used in the Amazon data is the Sumifs used to add all numbers or values in a range of cells based on single or multiple criteria. In the Amazon data set, the Sumifs add or sum up total net income from 2007 to 2020. Another function is the Averangeifs used to return the average or the arithmetic mean of all numbers in a range of cells, based on multiple criteria. In the Amazon data, the AVERAGEIFS is used to get the average number of employees from 2007 to 2020.
Conclusively, data analysis is significant in helping and tracking the development of any corporation. The excel functions are used to find the mathematical and logical operations on the data provided in the data sets.
References
Munch, E. (2017). A user’s guide to topological data analysis. Journal of Learning Analytics, 4(2), 47-61.
Van Rijn, J. N., & Hutter, F. (2018, July). Hyperparameter importance across datasets. In Proceedings of the 24th ACM SIGKDD International Conference on Knowledge Discovery & Data Mining (pp. 2367-2376).
Murray, A. (2021). The Ten Power Functions of Excel. In Advanced Excel Success (pp. 57-135). Apress, Berkeley, CA.