Case Summary: Champo Carpets is one of the largest carpet manufacturing companies based in India, with customers across the world, including some of the most reputed stores and catalog companies. Champo Carpets is based out of Bhadohi, Uttar Pradesh, which is one of the most famous clusters of carpet weaving in India. This cluster is spread over 1,000 sq. km and comprises many villages and districts in and around it. The company is a vertically integrated manufacturer and exporter of carpets and floor coverings, with more than 52 years of existence. At the beginning of 2020, the company employed 1,500 people with a capacity to produce 200,000 pieces of carpets and floor coverings per month. As part of sales and marketing, Champo Carpets shared sample designs with its potential customers, based on which the customer placed an order. The sample design selection was done in various ways and the process itself is costly and elaborate. To capture industry trends, a team of the company visited various trade shows and events and sent samples to the client as per the latest fiber and color trends. However, their sample-to-order conversion ratio was low compared to the industry average. This had cost repercussions as well as lost opportunities. The company identified the cause as inaccurate targeting of products to their customers. It subsequently implemented an enterprise resource planning (ERP) application and has been capturing data at every point of production as well as sales. They believe this accumulated data can help target their products accurately to the right clients and design an appropriate recommender system.
Learning Objectives The primary objective of the case is to illustrate how machine learning algorithms can be used to manage business-to-business (B2B) sales. The learning objectives include the following:
Access attached the full case or article. After a critical review of the case, respond to the questions below.
For a better understanding of the issues related to the problem, knowledge of data visualization using Tableau, R, or Python programming will be useful.
1. With the help of data visualization, provide key insights using exploratory data analysis.
2. What kind of analytics and machine learning algorithms can be used by Champo Carpets to solve their problems and in general, for value creation?
3. Develop ML models to help identify features that contribute toward conversion (or non-conversion) of samples sent to customers.
4. Discuss the data strategy for building customer segmentation using clustering. What are the benefits Champo Carpets can expect from clustering?
5. Discuss clustering algorithms that can be used for segmenting Champo Carpets’ customers.6. Develop customer segmentation using K-means clustering. Discuss the optimal number of clusters, significant variables, and cluster characteristics.
7. Discuss the data strategy that can be used for building recommender system models.
8. Develop an association rule mining algorithm, which can be used for recommendation.
9. Build collaborative filtering techniques for recommender systems.
10. What will be your final recommendations to Champo Carpets?
Compelling correspondence is essential to the achievement all things considered but since of the changing idea of the present working environments, successful correspondence turns out to be more troublesome, and because of the numerous impediments that will permit beneficiaries to acknowledge the plan of the sender It is restricted. Misguided judgments.In spite of the fact that correspondence inside the association is rarely completely open, numerous straightforward arrangements can be executed to advance the effect of these hindrances.
Concerning specific contextual analysis, two significant correspondence standards, correspondence channel determination and commotion are self-evident. This course presents the standards of correspondence, the act of general correspondence, and different speculations to all the more likely comprehend the correspondence exchanges experienced in regular daily existence. The standards and practices that you learn in this course give the premise to additionally learning and correspondence.
This course starts with an outline of the correspondence cycle, the method of reasoning and hypothesis. In resulting modules of the course, we will look at explicit use of relational connections in close to home and expert life. These incorporate relational correspondence, bunch correspondence and dynamic, authoritative correspondence in the work environment or relational correspondence. Rule of Business Communication In request to make correspondence viable, it is important to follow a few rules and standards. Seven of them are fundamental and applicable, and these are clear, finished, brief, obliging, right, thought to be, concrete. These standards are frequently called 7C for business correspondence. The subtleties of these correspondence standards are examined underneath: Politeness Principle: When conveying, we should build up a cordial relationship with every individual who sends data to us.
To be inviting and polite is indistinguishable, and politeness requires an insightful and amicable activity against others. Axioms are notable that gracious “pay of graciousness is the main thing to win everything”. Correspondence staff ought to consistently remember this. The accompanying standards may assist with improving courtesy:Preliminary considering correspondence with family All glad families have the mystery of progress. This achievement originates from a strong establishment of closeness and closeness. Indeed, through private correspondence these cozy family connections become all the more intently. Correspondence is the foundation of different affiliations, building solid partners of obedient devotion, improving family way of life, and assisting with accomplishing satisfaction (Gosche, p. 1). In any case, so as to keep up an amicable relationship, a few families experienced tumultuous encounters. Correspondence in the family is an intricate and alluring marvel. Correspondence between families isn’t restricted to single messages between families or verbal correspondence.
It is a unique cycle that oversees force, closeness and limits, cohesiveness and flexibility of route frameworks, and makes pictures, topics, stories, ceremonies, rules, jobs, making implications, making a feeling of family life An intelligent cycle that makes a model. This model has passed ages. Notwithstanding the view as a family and family automatic framework, one of the greatest exploration establishments in between family correspondence centers around a family correspondence model. Family correspondence model (FCP) hypothesis clarifies why families impart in their own specific manner dependent on one another ‘s psychological direction. Early FCP research established in media research is keen on how families handle broad communications data. Family correspondence was perceived as an exceptional scholastic exploration field by the National Communications Association in 1989. Family correspondence researchers were at first impacted by family research, social brain science, and relational hypothesis, before long built up the hypothesis and began research in a family framework zeroed in on a significant job. Until 2001, the primary issue of the Family Communication Research Journal, Family Communication Magazine, was given. Family correspondence is more than the field of correspondence analysts in the family. Examination on family correspondence is normally done by individuals in brain science, humanism, and family research, to give some examples models. However, as the popular family correspondence researcher Leslie Baxter stated, it is the focal point of this intelligent semantic creation measure making the grant of family correspondence special. In the field of in-home correspondence, correspondence is normally not founded on autonomous messages from one sender to one beneficiary, yet dependent on the dynamic interdependency of data shared among families It is conceptualized. The focal point of this methodology is on the shared trait of semantic development inside family frameworks. As such, producing doesn’t happen in vacuum, however it happens in a wide scope of ages and social exchange.
Standards are rules end up being followed when performing work to agree to a given objective. Hierarchical achievement relies significantly upon compelling correspondence. So as to successfully impart, it is important to follow a few standards and rules. Coming up next are rules to guarantee powerful correspondence: clearness: lucidity of data is a significant guideline of correspondence. For beneficiaries to know the message plainly, the messages ought to be sorted out in a basic language. To guarantee that beneficiaries can without much of a stretch comprehend the importance of the message, the sender needs to impart unmistakably and unhesitatingly so the beneficiary can plainly and unquestionably comprehend the data.>