Scenario
Big data is everywhere, and various businesses around the world are driven by big data. While some businesses rely on big data for organizational decision making, this does not mean that the implications and applications of big data are properly used to ensure optimal effectiveness for the organization
For this scenario, you have been appointed as a business analyst for Big D Incorporated, charged with providing authoritative recommendations to the Board of Directors. As the business analyst, the recommendations that you provide will be based upon data calculated from statistically appropriate formulas. Be reminded that you are not the companys statistician yet. However, as the business analyst, you are therefore responsible for interpreting statistical data and making the appropriate recommendations.
Big D Incorporated was offered a series of business opportunities, and it is your job as the business analyst to provide expert insight and justification for recommendations regarding these potential prospects.
For this assignment, do the following:
Download the file Sample Data.
Prepare a chart similar to the one in the downloaded file to indicate whether the correlation between variables A and B were found to be positive, negative, or minimal.
Provide explanation and justification for your decisions.
In your own words, explain what it means if the correlation of 2 variables is positive, negative, or minimal (close to 0), and give an example of each.
What do you deduce from the correlations? Explain if you believe these to be short or long-term objectives and outcomes.
What are the implications for Big D Incorporated regarding its client in the outdoor sporting goods?
What are the implications for the penetration into the indoor sporting goods market?
Also, how can you use the correlation tools to identify the variables in the research toward the expansion into the indoor sporting goods market?
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