Methodology
Executive Summary:
This business case outlines the rationale and strategy for expanding PQPlus’s presence by establishing a new training hub in the island area of Lagos, Nigeria. The Data Analytics and Business Intelligence department will play a pivotal role in collating and analyzing data to support the decision-making process. The project aims to increase market reach, optimize revenue, and strategically grow the business. Dedicated dashboards will provide real-time insights into candidate registrations, revenue generation, and the data collation process.
Introduction:
PQPlus has established itself as a reputable provider of Data Analytics courses, with successful training centers in Lagos and Abuja. The company now envisions expanding its footprint to the island area of Lagos to tap into a new market segment.
Problem Statement:
The company recognizes the potential in the island area of Lagos but lacks sufficient data to make informed decisions regarding the new training hub’s viability and location. There’s a need for accurate insights into candidate registrations, revenue, and market demand.
Objectives:
The objectives of this project are as follows:
Collect and analyze data to inform decision-making.
Ensure data-driven decision-making for effective business expansion.
Establish a new training hub in the island area of Lagos.
Scope:
Track candidate registrations, payments, and their locations (island or mainland).
Develop a progress chart indicating data collation advancement.
Display the registration distribution between the mainland and the island.
Compare revenue from the island area of Lagos with the mainland.
Solution Overview:
2 dashboards will be created and visualized for this project:
-First dashboard will be a baseline dashboard which will capture all the candidate’s information from the 20 LGAs in Lagos state, Nigeria and will be developed to visualize critical insights such as, candidate registrations, candidate activations, total revenue and conversion rate. A progress chart will be created for the data collation on this baseline dashboard. An 80% completion rate will automatically activate the second dashboard.
-Second dashboard will capture all the same information as the first but will only concentrate on the 4 LGAs in Lagos Island.
These dashboards will be instrumental in providing real-time visibility into the effectiveness of the expansion strategy.
Benefits:
The implementation of the new training hub and the real-time dashboard offers several benefits, including:
Informed decision-making based on accurate data insights.
Targeted expansion strategy for optimal market penetration.
Enhanced revenue generation through focused efforts.
Improved efficiency in tracking candidate registrations and payments.
Costs:
The costs associated with this project include:
Development of the real-time dashboard.
Data collection and analysis efforts by the Data Analytics team.
Return on Investment (ROI):
The ROI will be measured through revenue generated from the island area of Lagos and the overall success of the new training hub.
10. Risks and Mitigation:
Potential risks include incomplete or inaccurate data collation. These risks will be mitigated through rigorous data verification processes and continuous monitoring of data quality.
11. Implementation Plan:
Collaborate with the sales team to ensure accurate data collection.
Design and develop the real-time dashboard.
Analyze data to derive meaningful insights.
Present insights to the board for decision-making.
12. Board Resolution:
The board’s decision will be based on the following data-driven resolutions:
Data collation of candidate locations must reach 80% validity by 09, sep,2023
At least 25% of the data should represent the island area of Lagos.
If less than 25%, a one-time training will be held in the island area, and revenue must break even for setup funds to be released.
13. Conclusion:
The expansion of PQPlus through the establishment of a new training hub in the island area of Lagos holds substantial potential for growth.
By leveraging data analytics and strategic decision-making, PQPlus aims to make informed choices that drive successful expansion.
14. Recommendations:
I recommend the approval of this business case for opening a new training hub in the island area of Lagos, Nigeria. The inclusion of a real-time dashboard and data-driven resolutions will ensure a well-informed and successful expansion strategy.
15. Appendices:
Sample dashboard wireframes and design concepts.
Proposed data collection methodology.
Project timeline and team members’ roles.