logo Use CA10RAM to get 10%* Discount.
Order Nowlogo
(5/5)

Solving a Business Problem with Analytics

INSTRUCTIONS TO CANDIDATES
ANSWER ALL QUESTIONS

Solving a Business Problem with Analytics 

1.      Defining the Right Business Problems (Answer the traditional six discovery questions)

 

1.     What?

 

 

2.     Who?

 

 

3.     Where?

 

 

4.     When?

 

 

5.     Why?

 

 

6.     How?

  

2.      Fill out the table below:

EXHIBIT 1 Asking the Right Questions to Identify the Right Business Problem

BUSINESS CONSIDERATION

SAMPLE QUESTION

 

Context

What happened?

What is the current problem we are trying to solve?

What is the potential opportunity?

Why is there an interest in solving this particular problem? What is the business doing to mitigate or solve the problem? What efforts have been made in the past? How has this problem evolved over time?

 

Impacted unit

Where did this problem happen? What divisions are impacted by this problem? When did it take place?

 

Root-cause analysis

What might have caused this? What do you think continues to drive this problem?

 

Timeline

When do decisions need to be made? What is the optimal timeline for reaching milestones along the way?

 

Stakeholder

Who is asking for the analysis? Who are the executives interested in the results of the analysis? Who will be impacted by the analysis and subsequent recommendations? Who will carry out the analysis? What financial or emotional interest is involved from stakeholders? Is it positive or negative?

 

Expected impact

What are the actions to take based on the analysis? What support will end users have? What is the anticipated ROI from solving this problem? What are the ethical implications of the analysis?

 

 

3.      What type of Data Sources are used in this case?

 

1.     Primary data? Explain in details:

 

 

 

2.     Secondary data? Explain in details:

 

 

 

4.      What types of Data this project used?

 

1.     Did the project use Structured data? Explain in details:

 

 

 

2.     Did the project use Unstructured Data? Explain in details!

  

 

5.      What types of Data Measurement this project used? Fill out the table below.

DATA MEASUREMENT TYPE

List the variables used in this case

Discrete

 

Continuous

 

Binary

 

Nominal

 

Ordinal

 

Interval

 

Ratio

 

EXHIBIT 3 Data Measurement Definitions and Examples

 

   

 

 

 

 

 

 

6.      Define the independent (predictor) variables and the dependent (target) or outcome variables used in this case. Explain in details:

 

 

 

 

    7.      What Modeling Type used in this case study? Supervised Learning OR Unsupervised Learning. If it was Supervised Learning, did the case use training dataset, validation dataset, and/or testing dataset - Explain in details!                                  

 

Define the 7-Step Business Analytics Process of this case study! (There are seven steps involved in the business analytics process (see Exhibit 4). Data modeling is only part of the journey, not the full business analytics journey.

 

The 7-step business analytics process is iterative and continuously evolves to develop and manage improvements in the business analytics cycle. Each step plays an important role in achieving a successful outcome.)

 

(5/5)
Attachments:

Expert's Answer

381 Times Downloaded

Related Questions

. Introgramming & Unix Fall 2018, CRN 44882, Oakland University Homework Assignment 6 - Using Arrays and Functions in C

DescriptionIn this final assignment, the students will demonstrate their ability to apply two ma

. The standard path finding involves finding the (shortest) path from an origin to a destination, typically on a map. This is an

Path finding involves finding a path from A to B. Typically we want the path to have certain properties,such as being the shortest or to avoid going t

. Develop a program to emulate a purchase transaction at a retail store. This program will have two classes, a LineItem class and a Transaction class. The LineItem class will represent an individual

Develop a program to emulate a purchase transaction at a retail store. Thisprogram will have two classes, a LineItem class and a Transaction class. Th

. SeaPort Project series For this set of projects for the course, we wish to simulate some of the aspects of a number of Sea Ports. Here are the classes and their instance variables we wish to define:

1 Project 1 Introduction - the SeaPort Project series For this set of projects for the course, we wish to simulate some of the aspects of a number of

. Project 2 Introduction - the SeaPort Project series For this set of projects for the course, we wish to simulate some of the aspects of a number of Sea Ports. Here are the classes and their instance variables we wish to define:

1 Project 2 Introduction - the SeaPort Project series For this set of projects for the course, we wish to simulate some of the aspects of a number of

381 Times Downloaded

Ask This Question To Be Solved By Our ExpertsGet A+ Grade Solution Guaranteed

expert
Um e HaniScience

504 Answers

Hire Me
expert
Muhammad Ali HaiderFinance

558 Answers

Hire Me
expert
Husnain SaeedComputer science

962 Answers

Hire Me
expert
Atharva PatilComputer science

588 Answers

Hire Me

Get Free Quote!

350 Experts Online