TITLE:
Correlation Analysis between Ethnic Diversity and Success Rate on a Massive Repository of Movies Data Set and the Board of Directors of Fortune 500 in Terms of Net Sales and Gross Profit
AUTHORS:
Sarah Bamatraf
KEYWORDS:
Diversity, Ethnicity, Repository
JOURNAL NAME:
Journal of Data Analysis and Information Processing,
Vol.11 No.4,
November
16,
2023
ABSTRACT: In contemporary workplace, organizations are emphasizing on individual’s
diversity and inclusion initiatives in order to reinforce managerial
adaptability, increase competitive advantage and decrease legal risks.
Nonetheless, in recent times, there has arisen a debate on whether diversity is a variable that has an immediate
effect on success or not. This study focused on determining if diversity in
terms of ethnicity, gender, age, etc., has effects on success, by investigating two different data sets; the first one is a
massive repository of movies data set and actors to determine if there is a
correlation between multiple movie related variables and box office earnings.
While the second data focused on Fortunes top 500 companies in the United
States (US) vs. 500 less profitable companies in the US. Moreover, the study
explores how diversity among Board of Directors (BOD) of fortune 500 companies
affects the
net sales and gross profits. The movie data set was collected from two main
websites; Internet Movie Database (IMDB) and Rotten Tomatoes (RT), the imdb
data set contained 107,645 records, while as the rotten tomatoes contained 13,904 records. In addition,
information about Fortunes 500 companies was obtained from various websites
manually, as immediate data sets were hard to find since it’s the first study
that focuses on diversity and success of fortune companies. The data set
contained data of fortunes top 500 companies with information of all of its BOD
about 5358 records, and less profitable companies of 4434 records. The reason
in which these data sets were chosen was to study the ethnic diversity factor
and its impact on success rate, and also due to the fact that IMDB and Rotten
Tomatoes are the most recognized websites that
provide access to a massive repository of movie data sets.
While the fortune company’s data set was chosen to demonstrate diversity in the
chosen dataset where one was for movies and the other was enterprise based.
Furthermore, the data was analyzed in python to establish the relationship
between the various variables. In all of the correlation analysis, the
Pearson’s coefficient was less than 0.1. Therefore, it was concluded that
ethnic diversity has an insignificant effect on the success of movies and the
Fortune 500 companies.