Discussion Post: Analysis Inventory
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.
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.
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.
b) Using the chart template, identify 10 actual situations that analytics would evaluate to better evaluate this problem/decision.
c) Support your analysis of Industry Knowledge and Accuracy/Reliability. Do not just indicate High/Medium/Low.
d) For one of the Specific Analysis Problems Identified, determine a piece of software available that the company could use in analyzing the problem.
The response must include a reference list. Using one-inch margins, double-space, Times New Roman 12 pnt font and APA style of writing and citations.