[SOLVED] Exploration Discussion
Discussion Questions: The goal of this discussion it to examine how different types analysis and modeling tools add different types of value to an organization. Based on the readings in the course, and your understandings about the use of models in organizations: Read through/listen to resources in the Module 2 lesson. Identify a type of analysis currently being used by an organization you know. In the discussion board, identify the type of analysis and its usefulness using at least one academic source (e.i. peer reviewed article, etc.). What is the analysis and how does it work? (how does it help you make better decisions). Which type of analytical model is it? How could the other types of analysis be added to glean more information to the data? How could one improve the use of the analysis? Reply to at least two classmates’ posts with questions or comments on how their identified analysis processes might be improved. So basically you answer this discussion post and then reply to these other two comments. 1. I work for an OEM in the transportation industry and I can emphatically say that my organization lives 80% of its life in the past when it comes to analysis. I think that the major reasons for this are: 1.) our organic growth has been focused on acquisitions of other businesses, 2.) we are neck-deep in projects to move all of those businesses to a single platform, and 3.) perception and lack of insight outside of our daily workingsthose sites around the country (mine included) that are not consistently connected to discussions on new strategic directions that are being discussed at upper levels of leadership. We rely on Descriptive and Diagnostic analysis models to a great extent. The types of questions that are asked most often are: What has been the average inventory and usage of inventory at each site? What is the tact time data behind last months production efficiency and velocity? What is the current, part-level detail of inventory at each site. What are the 5-10 most challenging issue categories that were experience by production in the last quarter? I think that, as we are integrating the new acquisitions, we are in a place of needing to understand the intricacies of our various value streams and that we are correctly trying to focus on starting to consolidate our data so we can begin to craft the right questions as we step toward planning activities (Karapalidis, 2018). At this point, these models are helping to make better decisions because we are still aligning the data and our businesses so we can identify trends and correlations within our own product streams. I think that the answer to the last two points relies on methat is to connect with the strategic leadership of the organization and plug my experience, now backed with new knowledge, into the group so I can help to inform and guide the next steps that we will be taking. Obviously, moving from the past (Descriptive and Diagnostic) into future-based analytics (Prescriptive and Predictive) would be the goal and I see that I have some responsibility in helping to shape that next evolution. Resource: https://www.vertical-leap.uk/blog/data-science-for-marketers-part-2-descriptive-v-diagnostic-analytics/ 2. I will send you the other one tomorrow when someone else does their post so you can respond to that one.
