MIS690 Grand Canyon Analytics Problem Statement 1. Reflect on the process used to define the scope of business and analytics problems. 2. What challenges

MIS690 Grand Canyon Analytics Problem Statement 1. Reflect on the process used to define the scope of business and analytics problems.

2. What challenges or opportunities have you identified in developing your business and analytics problem statements?

Helpful Resources:

http://www.boozallen.com/insights/2015/12/data-sci…

https://www.the-modeling-agency.com/crisp-dm.pdf

https://capstudyguide.informs.org//docs/studyguide…

https://dataedge.ischool.berkeley.edu/2015/schedul…

https://hbr.org/2015/10/5-essential-principles-for…

http://www.datascienceassn.org/sites/default/files… Analytics Problem Statement
For this assignment, you will use this “Analytics Problem Statement” template to organize your
problem statement. Complete the table below according to the directions found in your
assignment.
After providing complete information below, write out your Analytics Problem Statement in the
last box.
Identify any analytics-based
assumptions involved in the
scope of the project.
Identify the specific output
measures that would be
improved (e.g., profit,
retention) as a result of
implementing the analyticsbased solution.
Identify the cost of not
implementing the analyticsbased solution.
Identify specific inputs and
how they relate to the specific
output measures.
Describe the analytics focus
area, including justification
for selecting the focus area to
address the specific analytics
problem.
Include information related to
ability to obtain the necessary
data for your identified
business problem. Be as
specific as possible.
Document the specific
analytics problem statement
to be addressed by the project
(e.g., perform a multiple
regression analysis to predict
sales based on number of
customers, advertising cost).
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