Analytics Problem Statement
For this assignment, you will use this"Analytics Problem Statement"template to organize your problem statement. Complete thetable below according to the directions found in your assignment.
After providing complete information below, write out your Analytics Problem Statement in the last box.
Identify any analytics-based assumptions involved in the scope of the project.
Identify the specific output measures that would be improved (e.g., profit, retention) as a result of implementing the analytics-based solution.
Identify the cost of not implementing the analytics-based solution.
Identify specific inputs and how they relate to the specific output measures.
Describe the analytics focus area, including justification for selecting the focus area to address the specific analytics problem.
Include information related to ability to obtain the necessary data for your identified business problem. Be as specific as possible.
Document the specific analytics problem statement to be addressed by the project (e.g., perform a multiple regression analysis to predict sales based on number of customers, advertising cost).