-Discuss the interconnected relationship between various processes and tools (statistics, experimental design, and use of analytical concepts) used in BI analysis.
-Discuss the basic elements of Experimental Design
-Identify the primary purpose of sampling.
-Identify key common mistakes made in business analytics.
-Discuss opportunity prioritization analysis
-Discuss methods (in attachment) for identifying areas of research questions, issues to be resolved, and opportunities for improvement when considering the application of analytics resources.
-Discuss the six steps (listed below) that comprise the prioritization matrix method (an extension and combination of the “Areas of Significance for Analytical Application-ASAA-and Decision Types) for high-level sorting.
1) Develop a list of items that also can be classified as within an ASAA.
2) Weighted each characteristic as a fraction of 1.0.
3)Rate each item’s performance related to each characteristic.
4)Multiply the ratings by the weight to obtain an item score.
5)Compare scores to see priority focus areas.
6)Be sure analytics of all three types are developed and in use.