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Top data science project ideas in 2023

Are you failing to find data analysis projects for your final year of the data science course? Where can you find suitable data analytics projects? Well, it’s a difficult question to answer, and most students find it daunting. But to earn your degree, you need to work on projects. It is one of the key requirements for receiving your degree. 

Data is the need of the hour, and with time, more and more organizations are reaching the same conclusion. Data drives essential business decisions and therefore, organizations rely on it to make business decisions that help them thrive. However, choosing the right data analysis project can be quite difficult due to the varying requirements of projects. Moreover, a data analytics project might also require access to some tools and their premium versions, which is not feasible for everyone. 

But what if there’s a list of data analysis projects for you? What if you had a list of projects that would help you implement the basics of data analysis and use other techniques for data mining? There is a list of projects that don’t include complex steps and can be used by a final-year student to enhance his portfolio. Data analytics using Power BI is one such project. But wait this isn’t the end. Apart from this project, there are many other projects that you can consider. 

Excited? Let’s dive into the list without delaying further. 

7 Data analytics project ideas for final-year students 

Data analysis projects help understand the execution of different tools and skills in a corporate environment. These goals will help you meet your objectives and learn the fundamentals of data analysis better. 

  • Sales insights in a computer hardware manufacturing company 

The first problem can be about a computer hardware manufacturer company noticing a decline in their sales. For this, firstly it will be important to define the problem statement. In this problem, we will see how a computer hardware manufacturer is facing issues in their sales, and they want to hire a data analyst. Once you are done with the data discovery part, you will have to define a strategy to solve the problem.

You need a strategy to define all the steps properly, after that all the essential steps of data analysis such as data cleaning, data mining, and creating beautiful dashboards in Power BI or Tableau. You can choose the tool as per your requirement, but choosing one as per your requirement will be essential. 

The purpose of building dashboards will be to track various statistics such as revenue numbers, sales quantity numbers year over year, and revenue breakdowns of different regions and products. Moreover, powerful dashboards will also help track revenue trends. 

Once you get the numbers and their breakdown, most of your job is done. You can prepare your insights and get to know the issues behind your sales. 

There are two ways to build a dashboard for your sales insights. One way is to do it in Power BI, and the other is in Tableau. 

  • Personal Budget and Finance management

Managing your finances can also be considered a good Power BI project for the final year. For this project, you can start by creating an Excel spreadsheet. In the spreadsheet, note down your income and list all your expenses. Your expenses can be divided into various categories such as a mortgage, grocery, bills, etc.

Once you store data in the Excel file, you can use it in Power BI to create an effective dashboard. The purpose of the dashboard will be to help you understand your spending cycle and also identify patterns in your spending habits. Moreover, it can be used to identify various other things such as your savings, net worth, and where you are spending your money. This project will help you learn Power BI and data analytics. Moreover, it will also act as a real-life use case of data analytics in your life. And lastly, it will also provide you with financial literacy. 

  • HR Data Analytics 

Another data analysis project to consider is creating a dashboard based on employee presence data. You can collect 3 months of employee presence data in an Excel sheet, along with the attendance keycodes that help you to analyze the data. Through this dataset, we will be creating a data analytics dashboard in Power BI, that can be helpful to the HR of the organization.

The dashboard can be helpful to an HR professional in many ways. It can help HR to understand the working preferences of different employees. As in, if more and more employees wish to work from home rather than work from the office. Moreover, by identifying patterns in an employee’s schedule, HR can also organize and conduct events respectively. For example, if the majority of the employees prefer to work from home on Fridays, HR would avoid scheduling an event on Fridays. 

This is another cool data analytics project completed using Power BI, that can help you learn all the skills effectively. 

  • Salary Data Analysis

Salary data analysis is another great project you can consider adding to your resume. You can take a city or area’s data to understand the functioning and demographics of that region. Moreover, datasets can also help you understand what types of jobs are in demand and what types of industries are booming. Salary data analysis can be helpful for government authorities to understand the population and their compensation.

Also, the salary data of a region will allow you to understand the relationship between demographics and job positions. Also, it can help a job aspirant determine if he should apply for a job in a particular industry. 

  • Customer churn in the telecom industry

The other type of project you can consider is improving customer retention in the telecom industry. While new customers do help a business to grow and succeed, retaining old customers is equally important. Retention of old customers helps a business cap its customer retention cost and avoid customer churn. Customer churn occurs when an old customer stops using your product.

When we talk about the telecom industry, it can happen due to poor service, network issues, or better offers from other vendors. Analyzing customer data can help you understand the pain points of customers. Moreover, the insights generated from data analysis will help the organization understand the gaps between their service and the customer’s needs. It will help the organization improve its customer retention rate. 

  • Insurance pricing model 

Insurance pricing is another great big data project final-year students can try. Insurance companies collect a premium from their customers on a timely basis to cover the losses occurring to their clients covered under the policy. The amount collected is known as the premium. To know the right amount to be collected from customers, an insurance company has to calculate the expenses involved.

If we consider an example of the healthcare industry, an insurance provider must be aware of the expenses involved in the treatment of a medical condition it covers. Similar is the case with other industries such as travel, automobile, etc. But why should an insurance provider calculate the cost? It’s essential to determine the cost, as it helps you provide better value than your customers. If your product is overpriced, the customer will choose some other vendor. 

  • Weather prediction app

Lastly, you can also consider a weather prediction project as your final year project requirements. Weather prediction can be an asset to agricultural workers, as it can help them in planning their farming. Moreover, weather prediction can also be helpful to air traffic teams in preventing accidents and mishappenings.

For building a weather prediction app, you must have a reliable source of information. Moreover, the more reliable sources you find, the better it is for your app. Throughout your data analysis process, you can use different tools and skills to make it efficient. If you use Python for data analysis, you can use Pandas for better data processing and interaction. 

Conclusion 

Are you excited about picking one of these projects for your final year? This list of 7 data analysis projects will help you decide which problem you can target as per your capabilities. This list includes a variety of projects that can help you enhance your understanding of data analysis fundamentals. Such types of products will not help you with the real-world application of data analysis principles but also create a positive impact on the examiner’s mind. Also, these projects will help you enhance your professional resume! Who knows if you will also end up getting your favourite job by working on one of these data analysis projects? 

But before you work on projects, you would also want to learn all the essential skills required to become a data analyst. Are you worried about learning all the essential skills required to become a data analyst? You need not. Online, you can find plenty of resources that provide a brief on all the essential skills required to become a data analyst. Moreover, such resources also offer you a roadmap you can follow, to become a skilled data analyst. 

If you haven’t already started looking, start now! 

joshuabryan

Hi, I’m Joshua Bryan, and I write about Data science, technology, digital marketing, and business solutions. I love to share the finds, tips, and tricks I’ve discovered to make life easier and more fun!

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