Foundations of Business Analytics Discussion Paper.
As a manager at a major insurance company, Meredith asks two of her analysts to help answer two separate questions regarding a recent car insurance client. She asks the first analyst, Darryl, to predict the likelihood that the client will be in an accident in the next five years using demographic characteristics (e.g., the client’s age, education, etc.). Foundations of Business Analytics Discussion Paper.She asks the second analyst, Amanda, to predict the effect of a 10% cut in the client’s premium on the likelihood that the client switches providers in the next three years. Which analyst is making an active prediction? Why?
Write your responses in detail with examples. Be sure to identify the source of your example in your posting. (250 words)
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Second Assignment
Consider the claim: “If we target a younger audience with our advertising, our margins will increase.”
Suppose that separate analyses have convincingly shown younger customers are less price sensitive with regard to the product being sold. Explain why the ability to reason is important when assessing data-driven conclusions such as this one.
Write your responses in detail with examples. Be sure to identify the source of your example in your posting. (250 words)Foundations of Business Analytics Discussion Paper.
Third Assignment
Position Paper: The Utility of Data – Draft
In the knowledge economy “it is all about data,” to use a widely circulated expression. That said, while the volume and variety of data readily available to business organizations is nothing short of overwhelming, not all aspects of business decision-making can benefit equally well from the available data. Moreover, given that the past is not a perfect predictor of the future, it follows that information contained in the available data is an imperfect predictor of future outcomes.
Your task is to identify and detail two (2) distinct organizational decision-making scenarios: One in which data can be heavily relied on for making decisions, and the other in which data is considerably less helpful.Write your response in detail with examples using APA format (latest edition). Be sure to identify the source of your example in your write-up. Your write-up should be of 250 words.Foundations of Business Analytics Discussion Paper.