Statistical analyses of data are used by businesses and industries for analysing and presenting available data in a useful format. For managers and members of the C-suite, such statistical analyses provide insight into how business units are performing relative to an organisations goals and objectives.
Select a business organisation or business domain (real or hypothetical business ideally a business or industry in which you are trying to seek employment in the future) for your case study and use it as the basis for your discussion on the assignment tasks listed below.
Problem definition and planning the research investigation –
Identify the business problem or business process that need to be solved or improved and write a paragraph explaining clearly what you have decided to investigate. Your project outcomes should be clearly defined. Your research should make use of secondary data collected from data sources readily available on the Internet.Discuss your business problem/business process improvement with the tutor and obtain approval before proceeding to your data preparation stage.
The following statistics schematic helps you to visualise the research process that you are planning to undertake on your selected topic:
Your data should contain at least two independent variables and two dependent variables connected with the research question you wish to solve through data analysis.Gather as much data as possible on minimum of four variables or more around the business problem or business opportunity discussed above and prepare datasets required for statistical analyses (to be carried out in Assignment 2).
Conduct Internet search looking for data relating to the research and select relevant datasets you propose to use for solving your defined problem. Focus your search on case studies where the business issue you have identified have been researched. You may find such data in websites on statistical analysis, software vendor website case studies on operational databases containing ongoing transactions e.g. CRM (Customer Relationship Management), ERP (Enterprise Resource Planning)& SCM (Supply Chain Management) databases.
You must ensure that the data are obtained from a representative sample of the population of variables under investigation. Your datasets should be suitable for descriptive statistics (quantitative summaries of datasets), statistical modelling purposes such as correlation/regression models including probability concepts and other inferential statistical analyses.
Prior to starting your data analysis (Assignment 2), the data should be collected, characterised, cleaned, and may be transformed into an appropriate form for further processing.
Method selection and methodological defence
For this task, you are required to explain:
Why you selected a particular quantitative research methodology (e.g. Deductive and/or positivist approach) and methods (Statistical techniques and methods learnt in class) used in your research;
Why you did not make any other choices of methodologies (Qualitative research methodologies such as Action research, Case study, Grounded theory, Narrative research, Phenomenology, etc.) and methods (Coding, Triangulation etc.); and
How effective the choices you made in enabling you to acquire useful data/information and draw factual and conceptual conclusions (i.e. how statistical analyses would be used in the selected business and how they will contribute to organisational decision-making with the case study example).
Shows understanding of key information required for
a)Problem definition for the case study investigation .
b)Planning of the identified investigative project
c)Datasets for the analysis of the issue
a)Shows evidence of independent search on the Internet and other sources on the identified business issue using a range of appropriate sources
b)Prepares datasets consisting of at least two dependent and two independent variables suitable for analysing the business issue identified. Data to be collected, characterized, cleaned, and transformed into an appropriate form for further processing
c)Uses data obtained from representative samples of the population of variables under investigation suitable for statistical modelling purposes including application of probability concepts
Methods and methodological defence
a)Justify the methodology and methods used in the case study example.
b)Explain why other methodologies and methods are not suitable for the case study example
c)Discuss the effectiveness of the methodology and methods chosen and how the statistical analyses would help in decision-making