Assignment: analysis inventory
Purpose of Assignment
Before crunching numbers can happen, a mapping of analytics needs should be done. The article in the resources section of this learning activity provides an example of how analytical methods were applied to designing and writing websites. While this resource focuses on a different objective than this assignment's scenario, the process used to address the problem will be similar.
Objectives
• Evaluate an analysis inventory of analytical needs for a business problem.
Theory and Context
High analytics users may want to start at the end of the problem: crunching numbers; however, the emphasis in analytics could easily be placed on breaking down our business problems into more manageable pieces. The application of technology needs to fit the problem(s) defined and not simply be implemented for the sake of the technology's capabilities.
Resources
Klein, W. D. (n.d.). Analytical methods.
Instructions
1. Using the following scenario, create an analysis inventory:
a. Your company is a $20 million Mid-west manufacturer. During the past five years sales growth has slowed from 15% per year, to 2% per year. Company management has decided that introducing the product into the European market will reduce the declining sales growth trend. Management wants you to run some analytics on the situation.
2. In a chart format, identify 10 actual situations that analytics would evaluate to improve the analysis of this problem/decision.
Specific Analysis Problems
Industry Knowledge Necessary to Interpret Data Outputs (High/Medium/Low)
Accuracy/Reliability of Outputs Necessary to Support Decision-Making. (High/Medium/Low)
a. Support your analysis of Industry Knowledge and Accuracy/Reliability. Do not just indicate High/Medium/Low.
b. For one of the Specific Analysis Problems Identified, determine a piece of software available that the company could use in analyzing the problem.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.