05 Jul Unit 1: Descriptive Statistics And Mathematical Foundations – Discussion
This Discussion is based on the article “Big Data, Analytics and the Path from Insight to Value” by LaValle, Lesser, Shockley, et al. from MIT-Sloan Management Review (Attached). Make sure to read this article before starting the Discussion.
This week, you will look at a survey on how leading organizations are using statistics and you will compare the findings to your experience with respect to your own organization.
- Most companies that are evolving tend to use intuition rather than analytics in their decisions. Looking at the 11 categories listed in the first chart (p. 23) titled “Analytics Trumps Intuition,” select three and comment on which side your organization is on (clearly label as “Analytics” or “Intuition”). For each of these categories, give an example in which the decision makers use intuition or analytics.
- Looking at the 11 categories listed in the chart on page 25 titled “Impediments to Becoming More Data Driven,” select three obstacles that you think are preventing a focus on analytics in your company. For each, explain the issue. For example, if you selected “concerns with data,” you would describe what those concerns are. How does this obstacle manifest itself and impact you in your work? Finally, make recommendations to overcome the obstacle you identified.
In your replies to fellow classmates, look for similarities to your organization. If you have experienced similar issues, comment on how your organization handled the situation.
Please use the template below in your answers, so everyone can easily follow your answers to all the questions (copy and paste to your post).
Use this template for your Unit 1 Discussion
Question 1: Analytics or intuition
Category 1: (title)
(description with example)
Category 2: (title)
(description with example)
Category 3: (title)
(description with example)
Question 2: Obstacles to analytics
Obstacle 1: (title)
(explanation)
(recommendation)
Obstacle 2: (title)
(explanation)
(recommendation)
Obstacle 3: (title)
(explanation)
(recommendation)
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