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YOUR PRIMARY PROJECT DELIVERABLE IS A TERM PAPER. THE PAPER SHOULD BE NO MORE THAN FIVE PAGES (1.5 SPACING). THE DISTRIBUTION OF PAGES BY TASK IS PROVIDED BELOW. THE FIVE PAGE COUNT DOES NOT INCLUDE A TITLE PAGE.
1. Your first task is to simply put in the words ″Business Analytics″, ″Data Analytics″ and such in Google and get a glance for what is happening around the field. I am fairly sure, we all can agree that in this modern world, Google has an answer for most things, if not everything. It just takes patience to research and find it. This serves as the building block for the first paragraph of the paper. Think of this paragraph as an introduction of the field of ″Business Analytics″ to your boss, who does not know much about analytics, and relies primarily on human judgement/gut feeling in making decisions. YOU SHOULD WRITE NO MORE THAN ONE PAGE ON THE INTRODUCTION. This overview should provide sufficient content to familiarize someone with the area.
2. Next up, you are expected to muddy up your hands with digging through the three areas we talk about in this course. Refer to the second line of the project desсrіption, if it does not ring a bell. Searching for the terms directly might not necessarily give you the results in the context of applications you want in writing this section. Use your creativity, throw in the technical jargon we learn as part of this course. For example, you can search for ″optimization of distribution network″+″real world applications″. Interfaces (INFORMS Journal on Applied Analytics) is a good place to look for some of the examples of application. You can also look at other sources for information. The main goal, we are looking to accomplish in this section (paragraph) is to briefly introduce the three building blocks, and jump right into the applications of each of these with examples. The objective is to give a better understanding of the things happening around the world to our not so up-to-date-with-technology boss, using examples of how people are using Analytics in everyday decision making for businesses. YOU SHOULD WRITE NO MORE THAN TWO PAGES WITH YOUR APPLICATIONS/EXAMPLES SECTION.
3. Now comes the actual task of critical thinking. How would you apply predictive or presсrіptive of the analytics concepts you learn as part of this course in your organization. Whatever be the line of work you are in, I am 100% (yes, not even a decimal off), you would have some application of analytics. The idea here in this section/paragraph is to identify and flesh out, how analytics can help improve the already existing sub-optimal decision making, or be better prepared with simple data summarizations and predicting something for tomorrow, next week, next month or next year. The objective we are trying to accomplish here, is to pitch it to your boss, how lack of analytics is impacting your firm. It could be a whole bunch of things, improper planning, delays, losing profits, frustrating customers etc. etc., and then pitch about how analytics can help change it. YOU SHOULD WRITE NO MORE THAN ONE PAGE of describing your application.
4. And now some data mockup and punchline (read summary). Let us say you are hinging on one of the later two areas of Business Analytics (Predictive and Presсrіptive) we talk about in this course. Try to collect some sample information from your organization. Hard to get any data out? then make up some data based on the rough estimates of the values you know. Dataset should contain at least 30+ observations. You can also turn to Kaggle for some datasets. And run a simple analysis/model/optimization problem. Report your results and summarize them nicely. Explain the results to your boss. THIS IS THE FINAL PART OF THE PROJECT, AND SHOULD NOT EXCEED ONE PAGE. Think of this document as a professional report your boss is going to read and make a decision on hiring more analytics people in helping establish an analytics division in your organization. And you are charged with the responsibility of the project report.