Reference no: EM133617468

Assignment: Business Finance- Operations Management- Data and Decision Analytics Assessment

Prior to beginning work on this paper

1. Review all chapters of the course textbook, Business Analytics: Communicating with Numbers, 2e.
2. Review the infographic "Three Types of Analytics Techniques".

Long description

It is designed to allow students to reflect on and apply the knowledge of data-based decision-making learned during the course to real-world scenarios.

Assessment Guidelines

For your workbook:

1. Respond to the following five questions related to one of the learning objectives covered in this course.

2. For each question, confirm your answers with examples of data sets and/or visualizations.

3. While you may choose these from the sample data sets provided in the resources listed for this course, It is strongly recommended that you search for new data sources to use as examples.

Task

1. Differentiate between various types of data an organization may use to assess organizational performance.

a. Provide an example for each data source.

b. Highlight the purpose of the data sources, the metric(s) it explains, and what kind of decision it would help justify.

2. Create a data visualization graphic that incorporates appropriate data sets.

a. Consider one of the data sets you have shared in question number 1 of this workbook.

3. Evaluate the benefits of at least two different data analysis methods.

a. Share an example of each.

b. Explain how, when, and why these methods have been used in a business situation.

4. Justify a strategic choice based on a data analysis method.

a. Use the data analysis method or another example of your choice.

5. Assess how big data can influence organizational performance.

a. You may consider using an example if you find that helpful to support your argument.

b. Consider how data can create insight into a business problem and provide a sense of decision-making justification.