How to Solve Business Problems with Analysis of Data Assignment

Assignment Task

Business Understanding (Problems)

You need to translate all questions into BA questions, clearly specifying the type of problem and the required data.

For example, for the 1st problem, the structure should be:

• Problem 1: What is the total revenue of the company during the provided time period? 
• BA question: What is the total revenue of all orders?
• Problem Type: This is a descriptive problem.
• Required Data: The required data is the revenue of each order.
• Criteria (Only for predictive problem and prescriptive problem)
•  If it is a predictive problem, you should list the performance measure (Check Module 9) you will use for your BA model.
• If it is a prescriptive problem, you should describe the problem formulation here (Check Module 13).
  • Understand the problem thoroughly; Describe the objective; Describe each constraint;
  • Define the decision variables.

Data Understanding

For each BA question you transformed from Business Understanding, you should have understood the required data. Now, it is time to check if the required data is provided by the stakeholders.

• If the required data is not provided, you need to retrieve the necessary data through calculations using the existing dataset.
• If it is not feasible to derive the data through calculations, you need to communicate the requirement to the stakeholders (which is me) to obtain the corresponding data.

Then, you have to provide appropriate statistics of all required data or related data with appropriate visualization graphs.

Your answer of data understanding should be in this structure:

Problem 1: What is the total revenue of the company during the provided time period?

• Required data: revenue of each order
• Provided: Yes or No.

If No, describe the retrieve method: detail process of calculation from existing data or request from stakeholders.

Statistical description:

• If the data is continuous data, the statistical descriptions include mean, max, min, range, standard deviation. The visualization could be distribution chart.
• If the data is categorical data, the statistical descriptions include amount of category, the count of each category. The visualization could be bar/column chart.

Alternatives

• For descriptive problems
• Provide the results and conclusion with appropriate visualization graphs.
  For predictive problems
• Choose the appropriate model and explain why?
• Build the model and provide the performance measurements.
• Provide the results and conclusion with appropriate visualization graphs.
• For prescriptive problems
• Write the objective in terms of decision variables

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