Reference no: EM132274135
Learning Activity 2.2:Culture Discussion
Introduction and Purpose of Assignment
Companies that use business analytics recognize the importance of a supporting culture in order to apply the business analytics to impact organizational operations.
Objectives
• Analyze how an organization's culture influences the effective use of business analytics. (2.1)
Theory and Context
Bartlett (2013) lists five aspects an organization should seek in encouraging an analytics-driven culture (p. 67). Companies may define employee characteristics that they think will support this culture and keep them in mind when hiring.
Resources
Nerney, C. (2012, September 25). Jeanne Harris on building an analytical culture for big data.
Instructions
1. In this discussion, consider the five cultural aspects and provide an example of an organization that you are familiar with or have researched that demonstrates one of these cultural aspects and how it supports the use of analytics.
2. Post your responses in the discussion forum titled 2.2 Culture Discussion.
Learning Activity 2.3: Management vs. Leadership Discussion
Introduction and Purpose of Assignment
The terms management and leadership are often used interchangeably. This quiz and associated discussion provides insight into the difference between management and leadership, and how understanding that difference is important to effectively using business analytics.
Objectives
• Evaluate the need to lead versus manage in an analytics driven culture. (2.2)
Theory and Context
Management and leadership must work together for the organization to achieve its purpose. An analytics-driven culture requires specific leadership characteristics to effectively integrate analytics in decision-making.
Resources
Gupta, A. (2009, May 6). Lead vs manage quiz.
Instructions
1. Take the Lead versus Manage Quiz referenced above. Consider the feedback that comes along with your quiz results.
a. Based on the feedback and Bartlett's (2013) discussion of leadership versus management - discuss specific leadership skills you think would be important in an organization's leadership team for business analytics to be used effectively in decision-making.
2. Post your responses in the discussion forum titled 2.3Management vs. Leadership Discussion.
3. Use the Discussion Rubric referenced earlier in this document to ensure you have met all the criteria for this assignment.
Learning Activity 2.4: Predictive Modeling
Introduction and Purpose of Assignment
Predictive modeling is the use of predictors that have been determined to influence future outcomes in order to create a statistical model.
There is no one form of predictive modeling. It can be simple - using a linear equation - or more complex using sophisticated software.
Objectives
• Apply predictive modeling to an organizational question. (2.3)
Theory and Context
Predictive analytics involves using information from historical data to identify patterns in order to determine possibilities for the future. Regression and trend analyses are both examples of predictive analytics.
Resources
The Corporate Genie. (2014, March 20). What is predictive analytics data mining.
Kutukcuoglu, T. A. (2012, March 8). Predictive modeling with linear regression - 1.
Queensland Government. (1995-2007). Trend analysis for business improvement.
wikiHow to do trend analysis in Excel. (n.d.).
Instructions
1. Assume that for a given company, net profit will increase when sales increase. In this scenario, the linear relationship exists between sales (the independent variable) and net profit (the dependent variable).
2. Develop a trend and linear regression analysis for a public company of your choice.
a. Map the past 10 years of sales and net profit data.
b. Predict future values for the next two years for the dependent variable (net profit).
i. The website "Introducing Predictive Marketing: The Next Stage of Business Optimization"above provides information on the calculations.
3. Submit your exercise to your facilitator using the dropbox titled 2.4Predictive Modeling by the end of the week.
Learning Activity 2.4: Predictive Modeling
Introduction and Purpose of Assignment
Predictive modeling is the use of predictors that have been determined to influence future outcomes in order to create a statistical model.
There is no one form of predictive modeling. It can be simple - using a linear equation - or more complex using sophisticated software.
Objectives
• Apply predictive modeling to an organizational question. (2.3)
Theory and Context
Predictive analytics involves using information from historical data to identify patterns in order to determine possibilities for the future. Regression and trend analyses are both examples of predictive analytics.
Resources
The Corporate Genie. (2014, March 20). What is predictive analytics data mining Kutukcuoglu, T. A. (2012, March 8). Predictive modeling with linear regression - 1.
Queensland Government. (1995-2007). Trend analysis for business improvement.
Instructions
1. Assume that for a given company, net profit will increase when sales increase. In this scenario, the linear relationship exists between sales (the independent variable) and net profit (the dependent variable).
2. Develop a trend and linear regression analysis for a public company of your choice.
a. Map the past 10 years of sales and net profit data.
b. Predict future values for the next two years for the dependent variable (net profit).
i. The website "Introducing Predictive Marketing: The Next Stage of Business Optimization"above provides information on the calculations.
3. Submit your exercise to your facilitator using the dropbox titled 2.4Predictive Modeling by the end of the week.