Assignment: Create a Business Case for Statistical Applications
For this assignment, you will identify a specific organizational problem that could be addressed through statistical applications
For this assignment, you will identify a specific organizational problem that could be addressed through statistical applications, and you will create a business case (justification for why your problem is important and should be prioritized above other projects requiring resources) to support the need for the analysis. For example, you might want to explore how a working team could be more efficient in their productivity or how your company could generate incremental revenue through better product design and/or advertising campaigns. As such, you would want to explain the problem, why it is important, and how it could be addressed through the use of statistical applications. You can use the dataset provided for this assignment and all subsequent assignments, or you may use your own dataset. Whichever dataset you use, it should be used throughout the course given that the assignments build upon prior assignments.
Your business case should consist of the following components:
Description of the problem statement
Justification as to why solving the problem is important, which should be connected to an organizational strategic initiative
Explanation of how statistical applications could be used to solve the problem (e.g., how you would descriptively analyze your data and run statistical tests for hypothesis testing)
Summary
Answer preview For this assignment, you will identify a specific organizational problem that could be addressed through statistical applications
1775 words