Return on Investment (ROI) analysis using Exploratory Data Analysis of IMDB Movie Dataset for Sussex Budget Production In their most recent film, Sussex Budget Production invested £500K and collected only £100K as their return, which is basically -80% of the return on investment (ROI).
Business Question for this Report: How can we increase the return on investment while maintaining the company's operations?
In order to answer this question, we must first conduct an analysis that gives us evidence of what type of movies will perform better, given previously that the "comedy-action-thriller" genre was attempted and failed miserably to collect the invested amount in the box office. Now the company is prepared to secure a budget of £1.5 million through the persuasion of investors, where their only proposed option to the investors is to make sure that it must be a good return on investment (ROI) and must be used to keep the business going even though it lost money.
In this report: I will be performing an exploratory data analysis (EDA) for this report. This analysis will let us organize and clean the data so that we can use the cleaned version of the data file for the analysis. Then I'll be performing a natural hypothesis using the chosen data in order to find proof to help me decide on the next movie production that is statistically significant for the variables we test.
After completing all of the exploratory data analysis and hypothesis tests, I can choose the best next steps to take in order to maximize my return on investment. With this conclusion, I should be able to answer the report's business question.
Sussex Budget Productions is searching for a good return on investment (ROI) for the film they are creating because their previous film did not go well.
So, in order to provide the best action item for the organization to choose the next movie and recover the loss and money, I dug deep into IMDB data and conducted exploratory data analysis (EDA), which included data wrangling and data cleansing. I used EDA to examine genres, movie counts, earnings, ROI, IMDB score, and gross. These findings aid in the identification of patterns between genres and ROI based on the number of films.
According to the findings of the analysis, the 'Comedy|Drama|Romance' genre fits the criteria for a good return on investment for the next film. The hypothesis test on the specific genre was done based on IMDB ratings and ROI; thus, good IMDB ratings for the genre 'Comedy|Drama|Romance' will have a strong ROI within a budget restriction of 1.5 million.
According to the data analysis, I recommend that the film be made in English with the 'Comedy|Drama|Romance' genre, and that it be released in the USA market rather than other countries for a greater ROI.