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Applying Analytic Techniques to Business

Essay by   •  July 8, 2019  •  Research Paper  •  688 Words (3 Pages)  •  36 Views

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u08a1 - Unit 8 Assignment 1 

Applying Analytic Techniques to Business

Overview

The first step in creating meaningful information from raw data is to represent the data effectively in a graphical format and calculate any required statistics. The second step is interpreting and explaining those graphs and statistics in order to apply them in the practical business context. 

In the last assignment, you were asked to create the first part of your analytics report by developing graphs and calculating some descriptive statistics.  In this assignment, you will complete your analytics report by interpreting those graphs and statistics, and explicitly connecting those interpretations to implications in the practical business context.  

Scenario

Your supervisor has asked you to prepare a report for the quarterly company meeting. The first part of the task was to download the data and create scatterplots and histograms, and to calculate mean, median, and mode of the stock prices for your report. Now you must analyze and interpret those graphical representations of the company stocks and write the report of your findings for your supervisor. 

Your Role

You are an analyst in the same business that you used for the last assignment. Having accessed the company data and placed it in an appropriate graphical format, you must now use descriptive statistics and analysis to develop a report to inform business decisions. 

Instructions

After reviewing and integrating your instructor’s feedback on your previous assignment, complete the report as follows:

  • For each graph you created, write at least one paragraph interpreting the graph.
  • What does that graph represent? 
  • What does the shape of the graph tell you about how the data have changed over time?
  • For each statistic you calculated, include at least one sentence explaining what the statistic represents. 
  • What does the mean tell you? 
  • What does it imply if the median is different from the mean? 
  • What does the standard deviation tell you about the volatility of the data?
  • Write a new conclusions section in which you explain how these interpretations can be used in the company:
  • What are some trends about which company leaders should be aware?
  • How might the information you have provided be used in decision making in the company?
  • Explicitly connect those interpretations to implications in the practical business context.  
  • Create a 6–8 page report containing:
  • APA-formatted title page.
  • One-page introduction of your chosen company that you created in your previous assignment. 
  • Section labeled Graphical Representations of Data that includes the four graphs you created as well as your interpretations of the graphs.
  • Section labeled Descriptive Statistics, with the statistics you calculated as well as your interpretations of the statistics.
  • One-page conclusion in which you describe the potential business applications of the data and interpretations.
  • APA-formatted references page (remember to cite the source of your financial data).

Additional Requirements

  • Include APA-formatted in-text citations where appropriate.
  • Follow the typical double-spaced analytics report format. 
  • Make sure your written communication is free of errors that detract from the overall message.

Evaluation

By successfully completing this assignment, you will demonstrate your proficiency in the following course competencies through corresponding scoring guide criteria:

  • Competency 3: Apply data analytic techniques to make inferences about a business need.
  • Interpret four different graphical representations of data.
  • Interpret descriptive statistics for two different variables.
  •  Competency 4: Present the results of data analysis in clear and meaningful ways to multiple stakeholders.
  • Explain the business applications from the interpretations of the data.
  • Correctly format citations and references using current APA style.
  • Write content clearly and logically with correct use of grammar, punctuation, and mechanics.

Note: Your instructor may also use the Writing Feedback Tool to provide feedback on your writing. In the tool, click the linked resources for helpful writing information

Resources

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