Had fun with the LEGO Data Challenge and developed some interesting insights.

Project Report: Analysis of LEGO Sets (1970-2022)

1. Summary:

In this project, a comprehensive data analysis was conducted on LEGO sets released between 1970 and 2022, utilizing Power BI for insightful visualizations. I developed some interesting trends, Had fun with power bi and decided to try out a few features that did not disappoint. I noted some few blank information and also would need some more information for example purchases and revenue earned from different categories but overall these were the findings..

2. Goal:

The primary goals of this analysis were to:

• Determine the total number of LEGO sets released.
• Break down LEGO sets by different categories.
• Analyze average prices across various categories.
• Understand the demographics based on the minimum age required for LEGO sets.
• Compare minimum age requirements to the number of mini figures included in each set.
• Examine the evolution of categories and theme groups over the years.
• Analyze the number of pieces in each theme group and identify the themes with the most and least pieces.

3. Findings:

• Total LEGO sets released: 18,457.
• Most common category: Normal sets (12,757), while Random sets were the least frequent (64).
• Collection category had the highest average price: $44.86.
• Minimum age range variance increased over the years, suggesting a shift towards older demographics.
• Number of mini figures included in sets has consistently risen over the years.
• There were more theme groups introduced as compared to categories over the years, with Art and Craft having the most pieces per set.

4. Conclusion:

The analysis indicates a shift in the LEGO market dynamics, with an increasing appeal to an older audience. LEGO sets are no longer exclusively perceived as toys for children. The rising minimum age range and the increasing number of mini figures suggest that adults, who were introduced to LEGO as children, are actively engaging with them even in older age however, I would need more data to confirm this.

This trend represents a significant market opportunity for LEGO manufacturers as there is potential to conduct further research into sets that appeal to adults, expanding product lines and boosting sales. Furthermore, exploring collaborations with other industries, such as construction and building, could open up new avenues for LEGO in diverse markets.

Understanding the evolving demographics and preferences will be crucial for LEGO manufacturers to continue adapting and innovating, ensuring sustained success in an ever-changing market. The findings suggest that LEGO has the potential to become not just a toy but a versatile tool for creativity and engagement across generations.