OVERVIEW: Write a 3-4 page report that compares analytic methods used to develop solutions to a business problem, recommends a method, and proposes a plan for using the results of the analysis.
- Wang, B. (2017). Creativity and data marketing: A practical guide to data innovation. London, UK: Kogan Page Publishers.
- Section 3.2, “Three uses for data in relation to creativity.”
- Bowerman, B. L., O’Connell, R. T., & Murphree, E. S. (2017). Business statistics in practice: Using data, modeling, and analytics (8th ed.). New York, NY: McGraw-Hill.
- You are the head of the marketing department at a large financial institution. You have collected and provided the data to the analytics team and asked them to analyze the data and provide recommendations back to you.
- The analytics team has returned two possible solutions. You need to review them and draft a summary of the pros and cons of both methods, as well as recommend actions and propose an implementation plan for the entire marketing department. The marketing department, as a group, will then decide on an appropriate plan of action and prepare to present that plan to the company executives. (See Attached)
- The Comparison of Analytic Methods is a professional document and should therefore follow the corresponding MBA Academic and Professional Document Guidelines, including single-spaced paragraphs.
- Title page.
- References page.
- APA-formatted references.
- 3–4 pages in addition to the title and references pages.
- At least 3 supporting resources.
- Written for non-analysts.
Write a report for the marketing department that includes the following:
- Compare the analytic methods used in each of the two solutions. Pay specific attention to the applicability and usability of each method.
- Evaluate the appropriateness of each method for the business problem being addressed and the data being used.
- Recommend one of the two solutions, and explain why the solution you recommended is the optimal one.
- Propose a plan for using or implementing the results of the analysis.
Be sure you also include: