To enhance our understanding of the CardioGoodFitness dataset and derive actionable insights, we employed several statistical and data visualization techniques. Here’s an overview of the methodologies applied:
Descriptive Statistics:
Summary Metrics: Utilized measures such as mean, median, standard deviation, and interquartile ranges to gain a foundational understanding of distributions and variability within features like age, income, and usage.
Data Visualization:
Histograms and Boxplots: Used to examine the distribution and identify outliers in continuous variables such as age, income, and miles.
Bar Charts: Employed to visually compare the frequency and percentages across categorical variables such as product type, gender, and marital status.
Data Transformation:
Conversion to Categories: Changed data types of certain fields (Product, Gender, Marital Status, Fitness) to categories to optimize memory usage and facilitate categorical analysis.
Bivariate Analysis:
Correlation Matrices and Heatmaps: Helped identify and visualize relationships between continuous variables, highlighting how different variables like usage, income, and education level interact with each other.
Pair Plots: Used to explore potential correlations and distributions across multiple dimensions segmented by product type.
Advanced Grouping and Segmentation:
Customer Profiles: Developed detailed profiles for different product users by analyzing grouped data, helping tailor marketing and product development strategies.
Usage Patterns: Investigated how different demographic groups (gender, marital status) use the products differently.
Actionable Insights and Strategic Recommendations:
Targeted Marketing: Suggestions were made to target specific demographic segments based on their unique characteristics and preferences, such as recommending high-end treadmills to higher-income, highly educated individuals.
Product Positioning: Strategic recommendations on how to position each product to align with the needs and expectations of different customer segments.
By integrating these techniques, we provided a comprehensive analysis that not only described the current customer base but also offered prescriptive insights to drive business strategies and market growth.