Data Collection and Analysis in Business

Describe a real-world business situation that could be addressed by collecting and analyzing a set of data.  Summarize one question or decision relevant to the real-world business situation that you will answer by collecting and analyzing a set of data.
1.  Explain why the situation or question would benefit from a data analysis.
2.  Identify all of the data that you will need to collect that is relevant to the situation or question.
3.  Describe the data gathering method you will use to collect data.

Note: The data gathering method can include data sources (e.g., databases, surveys, behavioral observations, online sources, etc.)

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4.  Identify an appropriate data analysis technique from the approved list above to analyze this data.

a.  Explain why the data analysis technique you chose is an appropriate technique to analyze the data collected.

Note: Use the “Determining the Appropriate Analytical Technique” presentation in the Attachment section below to help you determine the appropriate analysis technique for your data and business situation or speak with a course instructor.

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b.  Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.

Recommended Analysis Techniques:

•  regression (linear regression, multiple regression, or logistic regression)

•  time series or trend analysis (regression, exponential smoothing, or moving average)

•  chi-square

•  t-test

•  ANOVA

•  crossover analysis

•  break-even analysis For more information on Data Collection and Analysis in Business check out : Data Collection and Analysis in Business

Attachment : Task 1 Template (1) Determining_Appropriate_Analysis_Technique

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