IEEE Formatted Article: Analytical Findings from Maryland Car Sales Data

Tools:

Tableau| PHSTAT| Excel

This repository contains an IEEE formatted article that dissects the analytical findings from a Maryland car sales data set. The article includes detailed visualizations and insights that are crucial for stakeholders in the vehicle retail industry.

View and Download the IEEE Article

Data Analysis and Visualization

The data set was meticulously analyzed to uncover trends and patterns in car sales. Key metrics such as sales volume, growth rates, and seasonal variations were examined. The visualizations included in this article provide a clear and concise representation of these findings.

1. Relationship Between Used and New Car Sales: The visualizations depict the correlation between used and new car sales over the past several years. Trends indicate a strong relationship between the two, with notable fluctuations during specific periods.

2. Sales Projections for 2023: Based on historical data, projections for car sales in 2023 were made. These projections are crucial for stakeholders to anticipate market dynamics and adjust their strategies accordingly.

Tools and Methodology

• Microsoft Excel: Utilized for data cleaning, preprocessing, and initial analysis. Excel’s robust functionalities allowed for comprehensive data manipulation and calculation of key statistics.

• Tableau: Leveraged to create dynamic and interactive visualizations. Tableau’s powerful graphical capabilities enabled the creation of detailed and insightful charts and graphs that are included in this article.

New Car Sales and Used Car Sales in Maryland:

Figure 1

Figure 1 provides insights on the linear relationship between used and new car sales.

Sum of New and Used Car Sales

Figure 2

Figure 2 provides an insight on how much more used cars have sold over time in maryland. This can be due to several factors such as customers preferring CPO (Certified Pre-Owned) vehicles over new vehicles to prevent paying taxes and many other factors.

Insights for Stakeholders

The findings from this analysis offer valuable insights for stakeholders in the vehicle retail industry:

• Targeted Marketing: Understanding the relationship between used and new car sales can help in crafting targeted marketing campaigns. For instance, during periods of high new car sales, promoting used cars as a cost-effective alternative can be beneficial.

• Inventory Management: Projections for 2023 sales provide guidance on inventory management. Stakeholders can plan their stock levels based on anticipated demand, ensuring they meet customer needs without overstocking.

In conclusion, the analytical findings from the Maryland car sales data set provide a comprehensive overview of market trends and future projections. The use of Microsoft Excel and Tableau facilitated a thorough analysis and visualization process, yielding actionable insights for​ carsalesman and other stakeholders in the vehicle retail industry.