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In: Operations Management

You enter your project team meeting with Mike and Tiffany to hear them discussing the tools...

You enter your project team meeting with Mike and Tiffany to hear them discussing the tools that they found to conduct an analysis of the industry and competitors. “Mike, there are so many more tools than I even realized to give us some good data,” Tiffany states. “I know,” Mike says. “That’s why I wanted to take some time to look at our options and figure out what information we really need to support the board’s decision.” Mike and Tiffany both found some great tools from their research on the subject. Complete the following: Based on your classmates’ discussion posts for Week 2, do you still believe the tools that you selected will work best for a global strategy? Why or why not? What evidence do you have to support your decision? How would you refute the people who chose an additional tool rather than one of the tools that you selected? Based on the tools that you selected, provide a brief analysis of your market, using those tools. Please submit your assignment.

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Expert Solution

In the context of the question, it is very difficult to comment and confirm about the tools and which one is better than the other, unless the output/visuals of analyzed dats is seen and evaluated. The accuracy and efficiency of these tools can only be measured by how they are able to process volumes of data with correct output representation of data variance and correlations.

The Project tools, that is scalable, compatible with project needs and robust must be used for the analysis of the industry and competitors. Also, any new tool must be evaluated based on these parameters.

As there are no tools as such selected by me, I am writing this answer assuming that I'm using one of the relevant tools that meet the aforementioned criteria. Based on this, my tool should be able to deep search, programmed using highly advanced algorithms, and be able to match relevant figures and facts between sets of data, to compare and identify the trends between the different competitor data, and to find any common line of behaviour which could be pricing, promotions, reliability, consumer loyalty etc.

keosha answered 5 months ago
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