Using Analytic Techniques to Add Meaning to DataMBA-FPX5008RILEY BOYCE
Company Background: Medtronic is a company which started in a garage in Columbia Heights, MN by Earl Bakken and isnow one of the top medical device organization’s in the world. Medtronic is known for their first battery-operated, wearable cardiac pacemaker which was the foundation for many more Medtronic therapies that use electrical stimulation expertise to improve the lives of millions of people around the world (Medtronic). Medtronic has now expanded and currently operates in roughly one hundred and sixty pluscountries. The organization now has their world headquarters in Dublin, Ireland after the Covidien merger which took place in 2015. The operational headquarters is located in Fridley, Minnesota. Medtronic employs over 84,000 people globally. There are currently four main business groups at Medtronic: Cardiovascular Group (CVG), Restorative Therapies Group (RTG), Minimally Invasive Group (MITG), and Diabetes. The firm treats over forty different therapies. In the companies most recent fiscal year, the firm earned 30.557 billion dollars in revenue (Medtronic). Medtronic’s Mission Statement is “to contribute to the human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life” (Medtronic). 1
Graphical Representations of Data: Scatterplots:3/26/2019 5/15/2019 7/4/2019 8/23/201910/12/201912/1/2019 1/20/2020 3/10/2020 4/29/2020 6/18/2020020406080100120140Scatterplot of Highest Stock PricesTime in Days Stock Prices in U.S. DollarsIn order to create a scatterplot of the highest stock prices against time, I selected the entire column with dates labeled “Date” as well as the entire column “High”. Once I had both columns highlighted, I went to “insert” and then “insert scatter or bubble chart”. Once I found the correct scatter plot, I ensured that both the vertical and horizontal axis were labeled correctly and included a title for the graphic representation of data. This graph depicts the highest stock prices in U.S. dollars against the time. As you can see, this scatterplot indicates a mainly positive relationship between X and Y as the majority of the data shows an uphill pattern as you move from left to right. As the X-value increases (going right), the Y-value tends to increase (move up). However, more recently around February and March, Medtronic’s stocks slowly started to decrease and that is likely due to the pandemic. Medtronic started to struggle as several elective surgeries were cancelled and hospitals were not spending as much money on product. Due to COVID-19, Medtronic found opportunity and that was to manufacture as many ventilators as it took to 2
double the hospital systems capacity. This is where Medtronic’s stocks started to increase again. Medtronic is working hard to get back to a new “normal” as their stock prices have been lower than usual.