Excel Project Creation and Analysis for Car Rentals ✓ Solved

Excel Project Creation and Analysis for Car Rentals

Summary Create a Microsoft Excel workbook with four worksheets that provides extensive use of Excel capabilities including charting, and written analysis and recommendations in support of a business enterprise. A large rental car company has two metropolitan locations, one at the airport and another centrally located in downtown. It has been operating since 2015 and each location summarizes its car rental revenue quarterly. Both locations rent two classes of cars: economy and premium.

Rental revenue is maintained separately for the two classes of rental vehicles. The data for this case resides in the file rentalcars.txt. You must use the data provided and only the data provided.

Paper For Above Instructions

In today's digital age, the application of software tools such as Microsoft Excel is paramount in managing business processes effectively. This paper outlines the creation and analysis of a Microsoft Excel workbook tailored for a large rental car company with two metropolitan locations: one at the airport and the other downtown. The objective is to utilize Excel's capabilities to analyze data, visualize trends, and provide valuable insights that support strategic decision-making.

Overview of Data

The provided dataset consists of quarterly revenue data for two classes of cars—economy and premium—rented from both the downtown and airport locations from Q1 2017 to Q4 2017. This data, stored in a text file, needs to be imported into Excel for analysis. The workbook will include four worksheets: “Analysis by,” “Data,” “Sorted,” and “Airport.”

Step-by-Step Guide to Excel Workbook Creation

1. Initial Setup

The first step is to open a new Excel workbook and save it with the appropriate naming convention. The default page layout should be set to landscape for better visibility of data tables. The first worksheet should be named “Analysis by” and initial labels for Name, Class/Section, Project, and Date Due must be set up in Column A, aligned for clarity.

2. Data Importation

Next, the dataset from rentalcars.txt is imported into the “Data” worksheet, ensuring that the data begins from column A, row 1. Proper formatting for monetary values and numerical entries must be established to enhance readability. It is crucial to create an Excel table for the dataset, applying a style that facilitates banded row alternation for ease of reading.

3. Data Organization

Following the organization of data, it is necessary to sort the entries in the “Sorted” worksheet by the location attribute. After sorting, a copy of the data is made to the “Airport” worksheet where entries for the downtown location are removed. The data is further sorted by car class, year, and quarter in a single operation to maintain efficiency.

4. Calculations and Analysis

To facilitate analytical insights, a new column named AvgRev is added to calculate the average revenue per car for each class. This requires dividing the total revenue by the number of cars rented for each entry. Two named ranges, AE for Airport Economy cars and AP for Airport Premium cars, are essential for precise calculations. Averages for quarterly revenue are calculated with the average function, ensuring that all values are formatted correctly.

Data Visualization

To visually represent the analysis, two charts—one for Economy and the other for Premium vehicles—are created. These charts will depict the average revenue per car for each quarter of 2017, equipped with relevant titles for clarity.

Written Analysis

Finally, written responses to questions about trends observed in the charts and recommendations for combining the chart types are to be provided. The responses should be concise, formatted for visibility, and free from grammatical errors.

Conclusion

Creating an Excel workbook with effective data visualization and insightful analysis can significantly enhance decision-making processes in the rental car industry. The systematic approach outlined facilitates not only the management of numerical data but also the extraction of actionable insights that can drive business strategies.

References

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