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Unformatted text preview: DSC 211 - ROLE OF BUSINESS DATA &amp; CONCLUSIONS WE CAN DRAW FROM SUCH INPUT: Any Business Organization CLASS NO Organizational Units: Business Groups (populations) to focus on and understand -- examples Marketing Operations Finance Accounting Human Resources Info Sys/Technology Role of Business Professionals --&gt; YOU: Plan (design), Organize, Direct, Monitor, Control the organization's actions (processes, policies, procedures, etc) vis--vis these business groups (populations)-- In other words: Make or recommend &quot;Decisions&quot; -- new design, stay as is, adjustment, major change Possible Key Measures to Monitor/Review --&gt; In order to make good Decisions Examples of Key Measures: range from 20 to 75, might be Normally distributed range from 4 minutes to 5.5 minutes, perhaps uniformly distributed Core Functions products/services, target customers , competitors, sales processes, sales reps production processes , suppliers, input parts, input materials, service process purchase transactions , payments, investments, sources of financing, etc Support Functions supplier accounts, sales transactions , costs of processes, cash flows, etc employees , benefit transactions, hiring transactions, employee evaluations various automated transactions, software users , Basis for our work -- Informed by theory/principles, policies,established procedures, experience, guidance from mgrs &amp; current status or current information -- measures or data describing the key business populations. BUSINESS DATA: Our focus in this business course - A KEY&quot;LANGUAGE&quot; OF BUSINESS Target Customers : income, age , purchases, region, gender, Production Processes : time to complete , cost, error or not, # defects, Purchase Transactions : $ amount , type, organiz location, Sales Transactions : type payment , $ amount, # errors, Employees : pay, age, gender , satisfaction level, work locations, etc Software Users : age, unit, time it takes, satisfaction , etc. Age of ALL Product XY Target Customers (5.5M) -- Completion Time of ALL the times we perform Process 1 -- from 1$ to $5000, perhaps with exponential distribution perhaps 150 cash, 55 check, 550 credit 1050 Employees gender -- 376 Female, 674 Male perhaps 255 high, 1050 med, 1560 neutral, 500 low, 135 very low Important Observations about the DATA or Key Measures (to help make recommendations/decisions Thus: MATH FORMULA Example Summary Measures: approx middle: approx spread: 1 of a few poss values: Approx All Values (if cont measure): Frequency Table and Histogram (using classes) * Min, 1st Q, Median, 3rd Q, Max $ amt of Aug purchase transactions (5000 of them)-- August Sales Payment Type...
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- Spring '07
- Normal Distribution, frequency table, Target Customers, interval estimate, Statistical Estimation