Question

In: Operations Management

For each of the situations described below, select the type of analytics that would address the...

For each of the situations described below, select the type of analytics that would address the specific organizational need and justify your selection.

b. A large retail chain wants to understand what factors contributed to the overall sales decline it experienced in a specific month in the past.

c. To support staffing analysis for a holiday season, a clothing store wants to improve its understanding of the number of customers that are likely to visit each of its stores during the November 15–January 15 time frame.

d. A gaming company wants to provide all of its employees an up-to-date graphical representation of the number of downloads of its game products and in-app revenue associated with them.

Solutions

Expert Solution

*****Please please please LIKE THIS ANSWER, so that I can get a small benefit, Please*****

Analytics refers analyzing the system on some specific point of view by using a standard strategy best set for the purposeful analysis.

There are three categories of analytics, listed below:

  • Descriptive Analytics: It deals with “what happened ago?”
  • Predictive Analytics: It deals with “what might be happened later” and “how does changes occur in it if the assumptions are changed?”
  • Prescriptive Analytics: It deals with “What is to be done for it is to be happened?” and “What is needed for it is to be happened?”

a)

Situation: A mid-sized bank would like to provide as much automated support for its lending decisions as possible.

Best Suitable Type of Analytics is Prescriptive Analytics.

Justification: Prescriptive analytics is dealt with finding out the requirements and the ways for making the desired goal to be happened, if the desired goal (what is to be happened later) has been decided that is predictive analytics has done its work.

b)

Situation: A large retail chain wants to understand what factors contributed to the overall sales decline it experienced in a specific month in the past.

Best Suitable Type of Analytics is Descriptive Analytics.

Justification: Descriptive Analytics deals with analyzing the past happenings hence the future goals could be decided further by predictive analytics. Here the contribution in any past month is to be analyzed.

c)

Situation: To support staffing analysis for a holiday season, a clothing store wants to improve its understanding of the number of customers that are likely to visit each of its stores during the November 15-January 15 time frame.

Best Suitable Type of Analytics is Predictive Analytics.

Justification: Predictive Analytics deals with analyzing the goals which could be set for achieving in future. In this situation the range of coming months is given in which the customer count is required as a goal.

d)

Situation: A gaming company wants to provide all of its employees an up-to-date graphical representation of the number of downloads of its game products and in-app revenue associated with them.

Best Suitable Type of Analytics is Descriptive Analytics.

Justification: Descriptive Analytics deals with analyzing the past happenings hence the future goals could be decided further by predictive analytics.

  • It allows showing all the information, getting as the result of analysis, specifically arranged through graphs / tabular formats such as reporting tools, data visualization mechanism, dashboards or scoreboards.
  • It uses OLAP (Online Analytical Processing) tools for accomplishing the purpose of presenting the results well.

*****Please please please LIKE THIS ANSWER, so that I can get a small benefit, Please*****

keosha answered 3 months ago
Next > < Previous

Related Solutions

For each of the research studies described below, select which of the following analyses would be...
For each of the research studies described below, select which of the following analyses would be most appropriate. Please type your answers in the boxes exactly as they are printed here. I will check to see if Bb scored you “incorrect” for misspellings/typos, but if you type carefully (or copy-paste carefully), I can get grades done more quickly. YOUR ANSWER CHOICES: single sample t-test independent samples t-test related samples t-test one-way independent measures ANOVA one-way repeated measures ANOVA Scheffe’s test...
12. (4) For each of the situations described below: 1) Which process would be primarily affected:...
12. (4) For each of the situations described below: 1) Which process would be primarily affected: RNA Processing, Translation Initiation, Translation Elongation, Translation Termination and 2) Describe the effect/consequence of the change a) Deletion of a 5’splice site in a pre-mRNA b) The underlined mutation in the protein-coding region whose reading frame is shown 5’- AUG-CCA-UAU-ACA-3’ 5’- AUG-CCU-UAA-ACA-3’ c) A mutation that removes the Shine-Delgarno sequence d) A mutation in the tRNA for the amino acid lysine that changes the...
For each of the situations described below, provide the information indicated below assuming it is December...
For each of the situations described below, provide the information indicated below assuming it is December 2018. Complete your discussion of each situation before going on to the next situation. These are not related and should be looked at separately. 1. Type of accounting change. 2. Manner of reporting the change under current generally accepted accounting principles including a discussion, where applicable, of how amounts are computed. 3. Effect of the change on the balance sheet and income statement. 4....
For each of the situations described below, provide the information indicated below assuming it is December...
For each of the situations described below, provide the information indicated below assuming it is December 2017. Complete your discussion of each situation before going on to the next situation. These are not related and should be looked at separately. 1. Type of accounting change. 2. Manner of reporting the change under current generally accepted accounting principles including      a discussion, where applicable, of how amounts are computed. 3. Effect of the change on the balance sheet and income statement....
For each of the ethical situations described below, identify the specific tenet of the AHIMA Code...
For each of the ethical situations described below, identify the specific tenet of the AHIMA Code of Ethics that has been violated, explain what is wrong with the action, and describe what the HIM professional should have done or said. Hearing of a job in a hospital in the next town where the salary is better and the working conditions more pleasant, Erica Abbott, RHIA, applies for it. During her interview, she states that she earned her degree in a...
For each of the procedures described in the table below, select from the list provided the...
For each of the procedures described in the table below, select from the list provided the audit procedure that the auditor performed. Then, indicate if the procedure was a substantive procedure or a test of controls. Possible Audit Procedure: 1. Analytical Procedures 2. Confirmation 3. Inquiry 4. Inspection 5. Observation 6. Recalculation 7. Reperformance Description of Procedure Audit Procedure Performed (1-7 from list above) Classification of Audit Procedure (Substantive or Test of Controls) 1) Requested the bank to respond to...
Message Analysis and Planning There are two situations described below. Complete each step in full for...
Message Analysis and Planning There are two situations described below. Complete each step in full for each situation. Organize the response for this message (create an outline you would use before writing the full message). Use labeling similar to the Positive and Negative message outlines provided in the reading. You may use just the first and third columns for your outline. Write the response. Ensure your response includes proper format, demonstration of the organization you just created, and use of...
Write answers to each of the five (5) situations described below addressing the required criteria (i.e....
Write answers to each of the five (5) situations described below addressing the required criteria (i.e. 1 & 2) in each independent case. You may use a tabulated format if helpful having “Threats”, “Safeguards” and “Objective Assessment” as column headings. Liam Neeson has been appointed as a junior auditor of Brilliant Accounting Limited (BAL). One of his first tasks is to review the firm’s audit clients to ensure that the independence requirements of APES 110 (Code of Ethics for Professional...
Write answers to each of the five (5) situations described below addressing the required criteria (i.e....
Write answers to each of the five (5) situations described below addressing the required criteria (i.e. 1 & 2) in each independent case. You may use a tabulated format if helpful having “Threats”, “Safeguards” and “Objective Assessment” as column headings.   Bret Hart has been appointed as a junior auditor of Black & White (BW). One of his first tasks is to review the firm’s audit clients to ensure that independence requirements of APES 110 (Code of Ethics for Professional Accountants)...
Eastern Manufacturing is involved with several situations that possibly involve contingencies. Each is described below. Eastern’s...
Eastern Manufacturing is involved with several situations that possibly involve contingencies. Each is described below. Eastern’s fiscal year ends December 31, and the 2016 financial statements are issued on March 15, 2017. a. Eastern is involved in a lawsuit resulting from a dispute with a supplier. On February 3, 2017, judgment was rendered against Eastern in the amount of $118 million plus interest, a total of $133 million. Eastern plans to appeal the judgment and is unable to predict its...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT