Assignment Week 5:

Assignment Week 5:

5A. Can you describe the following 3 types of organizations and the most effective ways that they would utilize customer data for the following: (1) niche clientele; (2) mass consumer; and (3) all-encompassing? (100 word minimum for each one)
5B. Can you compare and contrast multivariate analysis with univariate analysis? (150 word minimum)
5C. What are the 4 key questions that marketing research companies (e.g. Claritas and Nielsen) can assist organizations in answering about customers? (150 word minimum)
5D. My Employer Question: Assume that your employer could call on one of the marketing research companies for assistance. Can you offer 2 key questions your employer should ask to better understand customers? How would the answers be helpful to your employer? (75 word minimum for each). Base your answer on a healthcare facility
5E. How could each of the following approaches provide data to help organizations “best know thy customer” according to your text author: (1) classification trees; (2) regression models; and (3) market basket analysis? (100 word minimum for each one)
Here is a plug from my text to put in own words.
Pg.115
We therefore prefer classification methods that create understandable relationships between segments and customer profiles. Two popular choices are classification trees and regression modesl. Classification trees produce automatically generated business rules that relate customers profiles to the business question of interest. The resulting business rules can then shed light on the differences between individuals who fall into different categories. Another data mining approach to customer analytics is market basket analysis or association rules. Here the purchase history of each customer is used to learn which items are typically purchased together. A next step is to combine the results of the market basket analysis with the customer segmentation (clustering) results to figure out which customer segments tends to purchase certain combinations of products.
Textbook: Getting Started with Business Analysis by David Roi Hardoon and Galit Schmueli

5F. The text describes not-for-profit, government, and other types of organizations that make use of BA techniques to be more effective and efficient. How would the BA techniques and approaches for these organizations be different than for-profits? (75 word minimum)
5G. Stats Question: Distinction between correlation and causation is important in business as well as personal life. The two concepts get mixed up, typically because we want to know why events occur. To understand relationships between measures/data, events or outcomes you must answer the questions below. Remember this requires outside research. Can you define correlation? Can you define causation? Can you offer details from the Khan Academy “Correlation and causality” video to demonstrate your understanding? If two events (e.g. educational level and income) show a positive correlation, does this mean that earning college degree will make your income? Why or why not?
https://www.khanacademy.org/math/probability/regression/regression-correlation/v/correlation-and-causality

Extra Credit
Ask your employer the following questions if you’re unemployed use a previous employer to answer the following questions. (150 word minimum for all questions)
I am not employed so please answer the following to the best of your knowledge on a healthcare facility. I use to work for a urology office

1. What business outcomes are you chartered to deliver? (150 word minimum)
2. What are your business pains? (150 word minimum)
3. What business challenge do you purport to solve?
4. What specific business KPI’s and measures are you considering to improve?
5. How much improvement in these KPIs are you targeting?
6. What does this improvement mean to you?
7. What constraints do you experience or place on your business processes?
8. What data do you have access to in your department?

 

 

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