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Imagine that you are hired as a data analyst for a bank. The bank would like to learn more about its customers’ spending and banking habits to identify areas of improvement. You have been asked to review the bank’s income statements over the last 5 years and identify trends that will allow them to better understand their customers.
Download your chosen bank’s annual income statements from the last 5 years from the Mergent database in the University of Arizona Global Campus Library. Review the Mergent Online: Accessing Mergent OnlineLinks to an external site. resource for tips on accessing and searching the Mergent database. Use the “Company Financials” tab in Mergent to access the income statements.
Identify three variables or categories that the bank may be interested in further researching, such as sales or revenue. Using these three variables or categories, build a frequency table, a bar chart, and a pie chart using Excel. Review the Microsoft Excel Help: BUS625 Excel GuideLinks to an external site. webpage for resources to help utilize Microsoft Excel. You will be using the same three variables in each table and chart, so the same data will be displayed in three different formats.
After creating the three tables, which of the tables and charts do you find most useful for communicating information about the bank’s customers? Write a brief case report summarizing your analysis and results.
In your paper,
Identify three variables in the income statements that the bank may be interested further researching to learn more about its customers.
Develop a frequency table, a bar chart, and a pie chart using variables in the income statements for your bank.
Analyze the table and charts to find the most useful information for communicating information about the bank’s customers.
Write a case report summarizing your analysis and results.
In this analysis, three variables were identified from the income statements of the chosen bank over the last five years that may be interesting for further research to gain knowledge about its customers. The three categories used in this assessment were sales or revenue, net interest income and non-interest income. These variables provided insight into customer spending habits and areas of improvement for the bank.
To better visualize this data, a frequency table was created using Microsoft Excel as well as bar chart and pie chart visualizations. The frequency table displays quantitative data by presenting it in rows and columns with each row representing a different variable or category from the bank’s income statement (sales or revenue, net interest income and non-interest income). This allows for an easier comparison between the different categories over time. On the other hand, both charts provide insights on qualitative information regarding customer behavior while allowing us to compare they year-over-year performance at a glance.
The bar chart provides visual representation of data changes over time while providing comparative measurements across each year’s performance in each respective category; meanwhile, pie charts give us qualitative information such as percentages among all these categories combined together during any given point in time throughout those 5 years period.
Overall we can conclude that analyzing existing financial statements is important when trying to identify trends related to customers’ behaviors which can guide future decisions within organizations like banks striving for continued success finding ways improve their services offered to clients and increase their business profits overall; thereby having multiple benefits for all parties involved: Improved service quality resulting greater satisfaction among clients whilst increasing profits due attainable goals fulfilled through better decision making processes .