Assignment: Frame a Problem
For this assignment you will frame a problem for the case study: Metabical: Pricing, Packaging, and Demand Forecasting for a New Weight-Loss Drug.
First, select a problem from this case study that could be addressed through an analytics approach. Next, frame the problem by creating a slide deck or written brief that could be shared with a colleague. For guidance, reference chapter 2 of the Davenport & Kim text. Note that you need to frame - not solve - the problem.
To complete this assignment, choose to create either a slide deck (5-slide minimum) or a written brief (3- page minimum). The deck or brief should address the following:
1. Define a clear problem or opportunity that addresses what is important to the Cambridge Sciences Pharmaceuticals (CSP) organization.
2. Define key items or variables you want to study that are relevant to the problem.
3. Identify stakeholders for the problem, including the role of the stakeholder who will make a specific decision based on analysis results once the problem is solved.
4. Consider multiple alternative ways to solve the problem.
5. Adopt an analytical story type to communicate the particular problem (pp. 29-40, Davenport & Kim).
6. Describe previous findings or experiences related to this problem that occurred within the CSP organization or in real life organizations. For instance, tests or trials conducted on a potential solution would be important to describe. The goal for this step is to learn from similar situations as much as possible to inform your framing of the problem.
7. Relevant information may be included in appendices.
The specific learning outcomes associated with this assignment are:
• Develop habits of quantitative thinking
• Frame a problem and predict potential results
• Formulate and communicate actionable recommendations based on data interpretations and insights.