The organization is about to commence a project that will look to embed the use of statistical
Question:
The organization is about to commence a project that will look to embed the use of statistical analysis to support business decision-making. This project will run alongside the expansion of a business analytics function at its corporate headquarters. In your role as a Business Data & Analytics Consultant, you have been employed by the organization to advise them on the processes and benefits of this business implementation. You will prepare a maximum 3,000-word report for the organization on the following areas:
• Outline what data & information will be available to the organization. This will need to include a summary of the organization in geographical, operational, and product/service terms.
Summarise appropriate statistical methods that could be used to analyse the organization’s data (for example: to describe, prescribe and predict). Approx 250 words
Illustrate how three separate statistical techniques (for example; ANOVA, Regression, Exponential Smoothing, and Cluster analysis) can be employed by the business analytics department, to inform organizational decision-making. Students can use actual data if available or simulated data to illustrate the separate techniques. Approx 1500 to 2000 words
Critically assess the issues and processes involved in the implementation and adoption of statistical analysis to aid the decision-making process. Approx 500 words
Accounting Business Reporting For Decision Making
ISBN: 9780730302414
4th Edition
Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver