What are your takeaways to the outcome or the decision made by the CEO, company manager or key people of the company?
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What are your takeaways to the outcome or the decision made by the CEO, company manager or key people of the company?
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- Is it not enough for a company to analyze its own strengths and weaknesses? Justify your answer.As you have seen in your reading and lectures for this course, business analytics focuses on the analysis of business data through the use of statistics, optimization, modeling, and other quantitative techniques to help guide business decisions. In your DBA research classes, you have (or you will) become acquainted with a range of quantitative and qualitative research techniques that can be used to investigate business questions. Quantitative and qualitative methods each have unique strengths and weaknesses and that some questions are better answered through quantitative methods while others can only be addressed through a qualitative investigation. In many ways, business analytics represents an ultimate quantitative expression of management science. Moreover, as with research, one might expect that there are some business situations that business analytics can address especially well while other business situations are best addressed (or can only be addressed) through more qualitative…Using all possible sources of information including the case, the Internet, and direct contact with heavy farm equipment machinery dealers, develop what you think the decision-making unit looks like for a heavy farm equipment machinery purchase, such as a tractor. Does its size depend on the size of the company or other factors? Explain
- Discuss briefly the Hierarchy of the information- based business decision makers.Which level has the best chance of success and why? (Decision Making subject)Case: Analytics in Decision Making After completing your college degree you go to work for an energy generation company. For the last two years you have been relocated to a remote town in the Midwest for a special project. Your entrepreneurial instincts have led you to explore problems faced by farmers in the region. One of the problems you have uncovered is the difficulty in finding replacements for farm equipment parts. Although most farmers are able to identify which equipment part has developed a problem, it is difficult for them to arrive at the technical specifications of the part in order to buy a replacement online. To address this issue, you have developed an analytics app with your friend Nerd. By using this app, farmers can simply take a photo of the faulty part and the app generates all the associated technical specifications. The app also generates pricing information from different websites and allows farmers to complete their purchases. After 3 months of beta testing,…you are a consumer planning to buy a computer. You are considering either an Apple or an HP laptop. List 3 features that are important to you when you decide which is the best computer for you. How do you go about making your choice? What incentives could the producer offer you to influence your final decision?
- The obligations of an investor-owned company's board of directors in the strategy-making, strategy-executing process include A) taking the lead in developing the company's business model and strategic vision. B) coming up with compelling strategy proposals to debate against those put forward by top management. C) taking the lead in formulating the company's strategic plan but then delegating the task of implementing and executing the strategic plan to the company's CEO and other senior executives. D) overseeing the company's financial accounting and financial reporting practices and setting CEO compensation. E) approving the company's operating strategies, functional-area strategies, business strategy, and overall corporate strategy.Descriptive, Prescriptive, and Predictive Analytics, are methods used to determine outcomes for businesses. How are they different from each other? When are they used? Pretend that you are a Data Analyst in a company, how would you apply or used some of these methods?At what level does a business measure revenue and profitability? At the product/service level, at the business group level, at the organizational level, or all of the above?
- What do you need to do to persuade the present CEO of the company to implement your ideas?We typically make decisions by relying on one or more of the following: 1) Our gut instinct. 2) Our experiences. 3) Our education. What is the value of the Business Analytics course in your current or future business area and how will it improve your decision making?What are the possible threats to the real estate company? This is external to the real estate organization.What possible surprises that the real estate company may have as competition that currently doesn’t exist?