DATA-DRIVEN DECISION MAKING

DATA-DRIVEN DECISION MAKING Competencies: 3009.1.1: The Case for Quantitative Analysis - The graduate uses decision-making methods to develop strategies for organizational decision p rocesses. 3009.1.2: Statistics as a Managerial Tool - The graduate uses a variety of decision-analysis tools to evaluate alternatives during the decision- making processes. 3009.1.3: More Statistical Tools - The graduate uses quantitative techniques and stat istical tools to identify the most appropriate decision alt ernatives. 3009.1.4: Quality Metrics and Tools - The graduate analyzes how work is accomplished and applies quality metrics and tools to increase effic iency, effectiveness, and quality. 3009.1.5: Real World Data-Driven Decisions - The graduate analyzes data from business intelligence and knowledge-management systems to ma ke appropriate decisions. 3009.1.6: Improving Organization Performance - The graduate uses appropriate data to improve organizational performance. Introduction: In this task, you will identify a real-world busine ss situation that would benefit from a data analysis in order to find an actionable recommendat ion. You should select an issue in your workplace or program specialty area (i.e., IT manag ement, HC management, or MBA). This business situation and data will be used to complet e task 2. Do not work on task 2 until you have successfully passed task 1, indicating that th e business situation and data analysis plan have been approved. Use the “Decision Tree Presentation” in the Web Lin ks section to help you identify the appropriate analysis technique. Requirements: Use the attached “Data Driven Decision Making Templ ate” to complete the following prompts: A. Describe a real-world business situation that c ould be addressed by collecting and analyzing a set of data. Note: Your selected real-world business situation s hould relate to an issue in your workplace or program specialty area (i.e., IT management, HC management, or MBA). Your data analysis will be used to make an actionable busines s recommendation. 1. Summarize one question or decision relevant to the real-world bu siness situation that you will answer by collecting and analyzing a set of da ta. 2. Explain why the situation or question would ben efit from a data analysis. 3. Identify data you will need to collect that is relevant to the situation or question. Note: A sample size of 30 or more is suggested to p rovide a statistically reliable finding. 4. Describe the data gathering methodology you wil l use to collect data. 5. Identify an appropriate data analysis technique you will use to analyze this data (e.g., linear programming, crossover analysis, t-test, reg ression). Page 1 of 2 Taskstream 11/ 15/ 2015 https://folio.taskstream.com/folio/BasicBlankStyle.asp?qyz=&idx=dire ctionsId_1 a. Explain why the data analysis technique you cho se is an appropriate technique to analyze the data collected. Note: The “Decision Tree Presentation” in the Web L inks section will help you determine the appropriate analysis technique for your data and bu siness situation. B. When you use sources to support ideas and eleme nts in a paper or project, provide acknowledgement of source information for any conte nt that is quoted, paraphrased or summarized. Acknowledgement of source information i ncludes in-text citation noting specifically where in the submission the source is used and a corresponding reference, which includes: • Author • Date • Title • Location of information (e.g., publisher, journ al, or website URL) Note: The use of APA citation style is encouraged b ut is not required for this task. Evaluators will offer feedback on the acknowledgement of source inf ormation but not with regard to conformity with APA or other citation style. For tips on using APA style, please refer to the APA Resources web link found under General Information/APA Guidel ines in the left-hand panel in Taskstream. Note: No more than a combined total of 30% of a sub mission can be directly quoted or closely paraphrased from outside sources, even if cited cor rectly. Note: For definitions of terms commonly used in the rubric, see the Rubric Terms web link included in the Evaluation Procedures section. File Attachments: 1. Data Driven Decision Making Template link opens in new window Web Links: 1. Decision Tree Presentation link opens in new window Page 2 of 2 Taskstream 11/ 15/ 2015 https://folio.taskstream.com/folio/BasicBlankStyle.asp?qyz=&idx=dire ctionsId_1