Final Project: Statistical Tools and Data Analysis

Operations management professionals are often relied upon to make decisions regarding operational processes. Those who utilize a data-driven, structured approach have a clear advantage over those offering decisions based solely on intuition. You will be provided with a scenario often encountered by an operations manager. Your task is to review the “A-Cat Corp.: Forecasting” scenario, the addendum, and the accompanying data in the case scenario and addendum; outline the appropriate analysis strategy; select a suitable statistical tool; and use data analysis to ultimately drive the decision. Once this has been completed, you will be challenged to present your data, data analysis strategy, and overall decision in a concise report, justifying your analysis.

Specifically, the following critical elements must be addressed:

III. Identify statistical tools and methods to collect data:

A. Identify the appropriate family of statistical tools that you will use to perform your analysis. What are your statistical assumptions concerning the data that led you to selecting this family of tools? In other words, why did you select this family of tools for statistical analysis?

B. Determine the category of the provided data in the given case study. Be sure to justify why the data fits into this category type. What is the relationship between the type of data and the tools? C. From the identified family of statistical tools, select the most appropriate tool(s) for analyzing the data provided in the given case study.

D. Justify why you chose this tool to analyze the data. Be sure to include how this tool will help predict the use of the data in driving decisions.

E. Describe the quantitative method that will best inform data-driven decisions. Be sure to include how this method will point out the relationships between the data. How will this method allow for the most reliable data?

IV. Analyze data to determine the appropriate decision for the identified problem:

A. Outline the process needed to utilize your statistical analysis to reach a decision regarding the given problem.

B. Explain how following this process leads to valid, data-driven decisions. In other words, why is following your outlined process important?

C. After analyzing the data sets in the case study, describe the reliability of the results. Be sure to include how you know whether the results are reliable.

D. Illustrate a data-driven decision that addresses the given problem. How does your decision address the given problem? How will it result in operational improvement?

V. Recommend operational improvements to stakeholders:

A. Summarize your analysis plan for both internal and external stakeholders. Be sure to use audience-appropriate jargon when summarizing for both groups of stakeholders.

B. Explain how your decision addresses the given problem and how you reached that decision. Be sure to use audience-appropriate jargon for both groups of stakeholders.

C. Justify why your decision is the best option for addressing the given problem to both internal and external stakeholders and how it will result in operational improvement. Be sure to use audience-appropriate jargon when communicating with stakeholders.

Guidelines for Submission: Your paper must be submitted as a 5- to 6-page Microsoft Word document and attached spreadsheet with double spacing, 12-point Times New Roman font, one-inch margins, and at least six sources cited in APA format.