Summarize the problem and the impact that the tools had

Reference no: EM132339577

Assignment: 2 Paragraphs APA

When learning about the tools and techniques of Business Statistics, it's important to not to approach this in an "abstract" or "academic" way. The discipline has evolved to bring real-world solutions to real-world problems. Organizations that have successfully implemented data analysis methodologies have often realized significant improvements in performance. In some cases, these improvements have turned them from a path to bankruptcy to a position of market leadership.

Our understanding of the benefits of sound statistical practices is strengthened when we study such examples. There is also much to be learned from studying organizations that were unable to adequately address data analysis challenges and have suffered losses in market share or profitability because of that.

Further, having real-world examples to draw on cannot only help us frame our own business improvement efforts, but can also provide sources of illustration and inspiration for our teams, as we lead them in their pursuit of business excellence.

1. Find a recent article in the Wall Street Journal (or other reputable news source) that discusses an data analysis win or challenge that a company has gone through which has had a significant impact on its business. Focus on one of the topics we are covering that week. In selecting your article:

a. Do not limit your search to organizations in any particular sector. Remember that best practices are everywhere if you are willing to look for them.

b. Identify the wins/challenges that connect to one of the topics we are covering in the upcoming week.

c. You may select the same organization for your submissions or you may select a different organization for your submissions.

2. Write a brief introductory "executive summary" identifying the organization, the challenge and the current state of affairs. Remember to include a link to the article for easy reference.

a. Explain which statistical practice this article is most closely associated with

b. Summarize the problem and the impact that the tools had (or could have had) in addressing it

Explain how this example can be used as a lesson in your own organization to either point to an area of opportunity for a similar win, or to warn of a potential risk that could have significant impact on your business, if left unaddressed.

Reference no: EM132339577

Questions Cloud

Describe seven different types of consumer promotions : describe seven different types of consumer promotions from the twelve shown in Table 6.2 of the text and assess how each of the seven types

Evaluate top significant trends and issues in managed care : Research and evaluate what you believe to be the top three most significant trends/ issues in managed care today. Provide explanations for your three choices.

Describe employment planning and forecasting strategy : Considering that strategy, business goal and workforce situation, you are required to prepare a HRM plan containing: your employment planning and forecasting.

How supply and demand influences the price of common stock : Why do venture capital companies often choose preferred stock for their equity position? Explain how supply and demand influences the price of common stock.

Summarize the problem and the impact that the tools had : When learning about the tools and techniques of Business Statistics, it's important to not to approach this in an "abstract" or "academic" way.

What is the earnings yield in the domestic stock market : Macro Economics - Firms & Markets - What is the earnings yield (inverse of the price-to-earnings ratio) in the domestic stock market

Trace the evolution of your profession-field of study : Trace the evolution of your profession (or another chosen profession), field of study, or branch of service, starting in the Cold War era

Describe what is the goal of the training : Submit a brief statement in current APA that describes the scope of a training project that aligns with your interest. Include information on the size and type.

Describe the term job posting and communication : Specifically focus on the 3 (planning, job posting, and communication) essential concepts of recruitment and select any one of the concepts to discuss.

User Account

All Pages