Become a Data Analyst Using ChatGPT (Complete Tutorial)

data analysis is a timec consuming task it requires working knowledge of complicated Excel formulas and some Python Programming expertise when analyzing data I used to spend hours scouring through the internet watching online tutorials and debugging code until recently Chad GPT is a game changer in the data analytics space even if you don't know Excel and cannot write a single line of code Chad jpt puts the capabilities of a junior data analyst at your fingertips all you need to do is ask Chad GPT a question and it will use its natural language capabilities to analyze your data and solve the problem in this tutorial I will be teaching you how you can turn Chad GPT into your own personal data analyst to be able to follow along to this tutorial you must have a paid subscription to Chad GPT plus okay let's get into it meet James James is a personal trainer who runs his own Fitness company now as a small business owner James needs to be very careful about spending money he cannot afford to hire too many people and lately he has started using chat GPT to analyze customer data and make business decisions based on it you see although James knows Fitness like the back of his hand he has no experience working with spreadsheets or programming languages math and coding are not his strong suits in the past if he wanted to analiz customer data James would have had two options one Higher professionals who were good at making making sense of raw numbers and analyzing data or two spend countless hours learning these skills himself either way he would have had to spend a lot of time and money but thanks to Chad GPT and the tools specialized data analysis features James can now analyze data in minutes taking his business to the next level in this video we will be looking at how James uses Chad GPT for data analysis and throughout this video we will be analyzing a transaction data set from from James's Fitness Company okay so first we're going to talk about Chad gpt's inbuilt data analysis plug-in when you use this data analysis plugin and give Chad GPT an instruction Chad GPT will write code to solve your problem run this code and provide you with the desired result and this is the equivalent of you writing code to solve the problem yourself something that not everyone can do because programming is a skill that takes years of practice to master someone like James for example would greatly benefit from a feature like this okay let's now look at how the data analysis plug-in works with a simple example you can find the file for this analysis in the video's description just download the file titled James transaction data set and this data set comprises transaction data related to James's Fitness Company in the past month so in the Excel file you can find two sheets related to James's Fitness Company there is e-commerce sales and you have gym Services the first sheet that is e-commerce sales looks like this it contains the products purchased by each customer the price of each item a discount percentage and the total amount spent so we're going to be focusing our attention on this sheet first okay let's start by uploading this Excel file to chat GPT and when you go into chat GPT make sure that you've selected GPT 4 and not GPT 3.5 again you need to have a Chad GPT Plus subscription if you want to be able to access this okay now just click on the little paperclip icon and upload your file previously this interface was a bit different you would have had to go to plugins and enable the data analysis feature separately it was called Advanced Data analysis but openi has since made some changes and the data analysis feature is now integrated into the C GPT form model and you can just directly upload your file here like we did and now we're just going to ask it to describe all of the columns present in the data set okay so it says analyzing and that just means that Chad GPT is writing some code to analyze the file that we've just uploaded and it is done so it's telling us that this data set has six columns and it's listing out all the columns present it's saying you know we have customer Name ID product and so on so you can click on this little blue thing here to actually see the code that Chad GPT has generated and this is python code so you can copy paste it and run it yourself if you'd like and I tend to do this because chat GPT can only take in 10 files at a time sometimes I need to analyze a thousand files at once so I'll just copy the code that Chad GPT has generated and I will write my own Loop to iterate over it but let's get back to the task at hand notice that although this Excel file has two sheets chat GPT has only given us information about the first sheet so it's only listed on all of the columns in the first sheet it's completely ignored the second one and if you want it to analyze the second sheet you're going to have to explicitly state that cuz it usually just writes code assuming that the first sheet is the default okay so let's let's focus on this first sheet for now I'm going to ask it about all of the unique products in this e-commerce data set I want a list of all the products that people have purchased from James okay so it has run some code and it's telling us that James has only sold these five products in the store you have a yoga mat a treadmill an exercise bike and um now I'm going to ask it about the total number of transactions in the data set okay great so now we have a basic understanding of James's transaction data set we know that he has sold five products and we know that he has made around 1,500 transactions in a month which is is good for James okay so now we'll go a step further with this analysis we will do some simple calculations and we'll start by asking Chad GPT to calculate the total amount of sales that James has made from all of the transactions okay so it looks like James has made over $140,000 in online sales which is great for James everything that we've seen so far has been pretty straightforward anyone with basic Excel knowledge will be able to go in and count or sum a column so let's try asking Chad GPT to do something a bit more challenging to improve his business strategy James has two questions one which of his products are best sellers and two are people's purchase decisions being impacted by prices and discounts in other words James wants to know if higher prices and lower discounts translate into more sales so to gain insight into the bestselling product and to understand whether prices have an impact on sales let's prompt chat GPT with a four-part question okay so I've just pasted this four-part prompt into Chad GPT and don't worry about typing all of this out yourself because I've added all the prompts to this link so you can just go in and copy paste them and back to this prompt we're first asking CH GPT to identify the product that has been purchased the most and then we're asking for the average prices and the average discounts for each product and finally we're asking whether prices and discounts have an impact on purchases CH GPT has responded to each part of our prompt so let's go through its responses one by one firstly it's telling us that the most purchased product in terms of quantity is the exercise bike and then it's giving us the average selling price of each product and interestingly it looks like the yoga mat is more expensive than the exercise bike which is a bit strange James should probably work on his pricing and maybe that's something else you can ask chat GPT after this video I also want to point out that this kind of analysis would require an intermediate level of expertise in Excel or a programming language because you would have to group and aggregate data or create some kind of pivot table and Chad GPT was able to get us there in just a couple of seconds which is great okay so in response to the third part of our prompt ch GPD has given us an average discount amount for each product which is at about 9 to 10% and if you look at the product that got the most sales the exercise bike you will notice that the discounts on the exercise bike is actually lower than it is for the other products which tells us that higher discounts don't necessarily translate into more sales but to get a better understanding of the relationship between discounts and number of purchases let's look at Chad gpt's response to the next question Chad GPT is telling us that in order to better understand the relationship between prices and sales or discounts and sales that we'd have to perform a correlation analysis and correlation is just a technique that allows you to quantify the relationship between two variables I won't be going too deep into it in this video but chat GPT has got this entire explanation of what correlation analysis is and you can read it if you'd like to okay so after doing all of this analysis Chad GPD is just telling us that there isn't a conclusive correl between prices or discounts and sales this means that the people buying gym equipment from James aren't really influenced by prices or discounts there are other factors that motivate them to buy perhaps things like product interest and as a business owner this is valuable feedback you can use this feedback to rethink your pricing strategy and entice future customers to make purchases from you so now that we've done some qualitative analysis let's see if chat GPT can create some charts to help James with with his decision- making now we're going to be using the second worksheet that is gym services for this visualization and this worksheet has all the information about the fitness classes and the training sessions that James's customers have attended so let's start by asking Chad GPT to describe the columns present in this sheet okay so it's listed customer ID service name service type and all of the other column present in this worksheet now James isn't a very technical person he doesn't know exactly what he wants to visualize in the data set or what types of charts to create all he knows is that he wants to use the trends found in previous customer interactions to improve future sales so all he has to do is type A prompt like this into Chad GPT and ask it for visual ideas and sh GPT has come up with a bunch of visual ideas it is saying that we can look at purchase Trends over time service popularity revenue and discount Trends and for the purpose of this video let's pick two things to visualize we'll start out with visualizing sales Trends over time and we're going to ask Chad GPT to come up with recommendations on improving sales based on these Trends so it's given us this nice barart visualizing sales information and right off the bat we can see spikes in total sales in April May and December and Chad GPD is saying the same thing it's saying that there's spikes in April and December and it's telling us that sales are lower in months like January August and September and then it's recommending that James investigate why sales are higher in April and December if it's because of special offers or some kind of seasonal promotion it's saying that we should replicate that strategy across different times of the year and then it's also suggesting that James introduce special campaigns or offers in months with lower sales and then there are a few more generic pieces of advice like conduct surveys and loyalty programs and this isn't specific to James's data but it's useful advice nonetheless okay so the second thing we'll be looking at is the number of sales by each service and this will tell James which of his services are more popular which of his services are selling more and we have this nice chart here again Chad GPT is saying that course strengthening is the most popular class followed by Wellness coaching and it will be interesting to look at the impact of prices on sales to see if classes that are cheaper are also more popular just like we did earlier or even look at seasonal trends for example a certain class is selling more during the summer and I'll let you do do some of this analysis Yourself by asking Chad GPT followup questions but for now let's look at Chad gpt's recommendations so Chad GPD is saying focus on your high demand Services focus on selling them even more and create more time slots for these classes and just really capitalize on classes that are already selling well because people like them and then it's suggesting creating package deals so it's saying combine a popular service with a less popular one I like this recommendation of combining a less popular class with a more popular one because sometimes you could be selling a great service that people just don't buy because they don't know that it's great for example when I first signed up for my gym membership I had access to a couple of free classes like yoga meditation something called animal movement these are things that I wouldn't have paid for myself because I was skeptical of their effectiveness but because they were part of my memb membership I was willing to try them out and these are now classes that I would pay for myself so I think that these are pretty solid recommendations from chat GPT we have a few more recommendations here like customer surveys collecting customer data for better targeting as well as cross promotion which is all great advice we've honestly just skimmed the surface as to what CH GPT can do in terms of analyzing data because we've just asked it two questions and this data set has many more insights in it that you can uncover and I'd recommend playing around with it yourself see if you can go a step further ask Chad GPT to give you the most popular Services by time period ask it about discount information or pricing information see if there's a difference between the various service types the biggest strength of language models like chat GPT is that they can connect the dots really well across many data points they're able to uncover patterns and see trends that humans tend to miss and this is because the GPT models have been been trained on so much textt data from all over the Internet and they've learned all of these patterns and relationships from these data sets and they can now identify similar patterns in new data sets that you upload to them if you want to learn how to use chat GPT to take your workflows to the next level I have a book titled automate everyday tasks with Chad GPT you see while many users know what Chad GPT is and can use it to perform simple tasks they often struggle to make the most out of it they aren't tailoring their prompts to get the best possible responses they aren't saving as much time as they possibly can in this book I will show you how to leverage some of the latest features of Chad GPT you will learn to analyze data in minutes use Chad GPT to perform tasks like marketing and content creation as well as autom made repetitive workflows you can find the link to my book as well as a discount code for 50% off in the description and this code is only valid until the 4th of January and and yeah I hope that this video helped you better understand Chad gpt's data analysis capabilities this feature is especially useful if you're a non-technical person who wants to analyze a bunch of data or if you just want to save time if you have lots of data and just want to be able to get to the meat of it chat GPT can help you do that pretty quickly that's all for this video thank you so much for watching if you enjoyed this video please do like it also do subscribe to my channel I will be posting more tips and tutorials on data Ai and programming in the next few weeks

Channel: Natassha Selvaraj

Views: 20,836

Keywords:

Id: m6XS9Txvf-Q

Length: 16min 33sec (993 seconds)

Published: Sat Dec 23 2023