Enhancing Competitive Analysis through Advanced Business Analytics
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Project scope
Categories
Competitive analysisSkills
business analytics competitive analysis market trend python (programming language) data analysis machine learning strategic planning marketing generative artificial intelligence preparing executive summariesNOMOBO stands at the forefront of hygiene innovation with its pioneering underarm rinse. We've developed a platform, integrated with GPT-4 and built using Python, that scrapes reviews from competitors for deep analysis. As we endeavor to harness the full potential of this tool, we seek a team of analytical minds to expand upon its existing capabilities and integrate other data-driven strategies that can be designed, evaluated, and integrated.
Objective:
The main objective for the students is to delve deep into the insights derived from our tool, combine them with meta metrics, trends, and other data analytics strategies, to ultimately produce a comprehensive and actionable iterative plan for NOMOBO's growth.
For the project goal of enhancing the competitive analysis through advanced business analytics and leveraging the existing platform, the following tasks can be outlined for the learners:
1. **Platform Familiarization**:
- Get acquainted with the existing Python-based platform.
- Understand the current integration with GPT-4 and its capabilities in processing the scraped reviews.
2. **Data Collection & Cleaning**:
- Ensure the platform efficiently scrapes competitor reviews from designated sources.
- Clean and preprocess the scraped data to eliminate noise and ensure data quality.
3. **Data Analysis**:
- Analyze the current data to identify patterns, sentiments, strengths, weaknesses, opportunities, and threats from competitor reviews.
- Use statistical and machine learning models to understand correlations and causations in the data.
4. **Optimization**:
- Identify potential improvements in the scraping tool for more efficient and extensive data collection.
- Propose enhancements to the current GPT-4 integration to derive deeper insights.
5. **Integration with Other Metrics**:
- Incorporate external metrics, market trends, and other relevant data sources.
- Perform a fusion of insights from the platform with these external datasets for a more holistic understanding.
6. **Develop Predictive Models**:
- Create models that predict potential market shifts based on the trends identified in competitor reviews.
- Understand potential areas of opportunity or threats for NOMOBO based on predictive insights.
7. **Strategic Planning**:
- Based on insights and predictive models, draft an actionable and iterative strategic plan.
- Highlight areas of focus for R&D, marketing, and supply chain optimization.
8. **Documentation & Reporting**:
- Compile all findings, methodologies, and recommendations into a structured report.
- Ensure the report is both technically detailed for internal use and has an executive summary for leadership understanding.
9. **Presentation Preparation**:
- Design a compelling presentation that effectively communicates key insights, platform enhancements, and strategic recommendations.
- Rehearse the presentation to ensure clarity and engagement for the NOMOBO leadership team.
10. **Feedback Loop**:
- After presenting, gather feedback from NOMOBO's stakeholders.
- Iterate on recommendations and strategies based on the feedback received.
1. **Resources**:
- Provide relevant tutorials, documentation, and tools for analysis and visualization.
2. **Mentorship**:
- Schedule regular check-ins for progress reviews and feedback.
- Organize expert sessions for specialized insights.
3. **Collaborative Tools**:
- Offer access to platforms like GitHub for code collaboration and Slack for communication.
4. **Workshops**:
- Conduct brief, focused sessions on challenging areas like data visualization or GPT-4 integration.
5. **Feedback Channel**:
- Set up a straightforward mechanism for learners to voice concerns or seek clarification.
About the company
NomoBO is a skincare startup that has developed an innovative underarm rinse designed to address the root cause of underarm odor. Our product is designed to remove the bacteria Staphylococcus hominis, which is a major contributor to underarm odor. By effectively removing this bacteria, our underarm rinse eliminates the need for traditional deodorants, providing a more natural and effective solution for underarm odor.
Our goal is to revolutionize the skincare industry by offering a product that not only addresses the issue of underarm odor, but also promotes a more natural and sustainable approach to personal hygiene. We are passionate about developing products that are both effective and environmentally friendly. We are looking for talented and driven students who share our passion for innovation.