Data Driven Deceision Making – Case for Quantitative Analysis

Competencies 3009.1.1The Case for Quantitative Analysis The graduate uses decision-making methods to develop strategies for organizational decision processes. 3009.1.2Statistics as a Managerial Tool The graduate uses a variety of decision-analysis tools to evaluate alternatives during the decision-making processes. 3009.1.3More Statistical Tools The graduate uses quantitative techniques and statistical tools to identify the most appropriate decision alternatives. 3009.1.4Quality Metrics and Tools The graduate analyzes how work is accomplished and applies quality metrics and tools to increase efficiency, effectiveness, and quality. 3009.1.5Real World Data-Driven Decisions The graduate analyzes data from business intelligence and knowledge-management systems to make appropriate decisions. 3009.1.6Improving Organization Performance The graduate uses appropriate data to improve organizational performance. Introduction In this task, you will address the real-world business situation that you identified in task 1. Using relevant data you have gathered, analyze the data and recommend a solution. This recommendation will be included in a report that you will write, summarizing the key details of your analysis. Note: You must successfully pass task 1 before work on task 2 is started. Approved data analysis techniques for this task include the following: Recommended Analysis Techniques: • regression (linear regression, multiple regression, or logistic regression) • time series or trend analysis (regression, exponential smoothing, or moving average) • chi-square • t-test • ANOVA • crossover analysis • break-even analysis Additional Approved Analysis Techniques: • statistical process control • linear programming • decision tree • simulation You must use the rubric to direct the creation of your submission because it provides detailed criteria that will be used to evaluate your work. Each requirement below may be evaluated by more than one rubric aspect. The rubric aspect titles may contain hyperlinks to relevant portions of the course. Create a report (suggested length of 2–4 written pages or 800 words) by doing the following: A. Summarize the real-world business situation you identified in task 1. B. Report the data you collected, relevant to the business situation, by doing the following: 1. Describe the relevant data you collected. 2. Create an appropriate graphical display (e.g., bar chart, scatter plot, line chart, or histogram) of the data you collected. Note: This display should be a summary or representation of your data, not raw data. C. Report how you analyzed the data using an analysis technique from the given list by doing the following: 1. Describe an appropriate analysis technique that you used to analyze the data. 2. Include the output and any calculations of the analysis you performed. Note: The output should include the output from the software you used to perform the analysis. Refer to ”Prepare for the Performance Assessment Task 2” in the course of study to see examples of acceptable output. 3. Justify why you chose this analysis technique. D. Summarize the implications of your data analysis by doing the following: 1. Discuss the results of your data analysis. Note: Refer ”Prepare for the Performance Assessment Task 2” in the course of study to see an example of an acceptable discussion of results. 2. Discuss the limitation(s) of your data analysis. 3. Recommend a course of action based on your results. Note: Your recommendation should focus on the results of your analytic technique output from part C2. E. When you use sources to support ideas and elements in a paper or project, provide acknowledgement of source information for any content that is quoted, paraphrased, or summarized. Acknowledgement of source information includes in-text citation noting specifically where in the submission the source is used and a corresponding reference, which includes the following: • author • date • title • location of information (e.g., publisher, journal, or website URL) Rubric ARTICULATION OF RESPONSE (CLARITY, ORGANIZATION, MECHANICS): Competent The candidate provides adequate articulation of response. A. SUMMARY OF SITUATION: Competent The candidate provides a logical summary, with sufficient detail, of the real-world business situation identified in task 1. B1. SUMMARY OF DATA: Competent The candidate provides an appropriate description, with sufficient detail, of the relevant data the candidate collected. B2. GRAPHICAL DISPLAY: Competent The candidate provides an appropriate and correct graphical display of the data collected. C1. DESCRIPTION OF ANALYSIS TECHNIQUE: Competent The candidate provides a description, with sufficient detail, of an appropriate and approved analysis technique used to analyze the data. C2. OUTPUT AND CALCULATIONS: Competent The candidate includes correct output and any calculations of the analysis performed. C3. JUSTIFICATION OF ANALYSIS TECHNIQUE: Competent The candidate provides a logical justification, with sufficient support, of why the analysis technique was chosen. D1. DATA ANALYSIS RESULTS: Competent The candidate provides a logical discussion, with sufficient detail, of the results of the candidate’s data analysis. D2. DATA ANALYSIS LIMITATIONS: Competent The candidate provides a logical discussion, with sufficient detail, of the limitations of the candidate’s data analysis. D3. RECOMMENDED COURSE OF ACTION: Competent The candidate provides a plausible recommendation, with sufficient support, for a course of action based on the candidate’s results. E. SOURCES: Competent The candidate provides source information for all quoted, paraphrased, and summarized content. Source information appears to include accurate and complete acknowledgement of source information regarding the author, date, title, and location of the information (e.g., publisher, journal, or website URL), as well as appropriate in-text citation. This level is also appropriate if there is no evidence of quoted, paraphrased, or summarized content, and it is not required by the instructions.