DATA-DRIVEN DECISION MAKING — C207
INTRODUCTION
In this task, you will identify a real-world business situation and use real data to perform a data analysis leading to an actionable recommendation. You are encouraged to select an issue in your workplace or program specialty area (e.g., IT management, HC management, or MBA). Publicly available data is also an option (see Course Tips).
Recommended Analysis Techniques:
• regression (linear regression, multiple regression, or logistic regression)
• time series or trend analysis
Note: you need to specify the specific type(s) of time-series analysis you plan to use or consider in Task 2 – i.e., regression, exponential smoothing, moving average, seasonality using multiple regression
• chi-square
• t-test (one sample, two independent samples, or paired)
• ANOVA
• crossover analysis
• break-even analysis
Additional Approved Analysis Techniques:
• statistical process control
• linear programming
• decision tree
• simulation
SCENARIO
REQUIREMENTS
Use the attached “Task 1 Template” to complete the following prompts:
A. Describe a real-world business situation that could be addressed by collecting and analyzing a set of data.
Note: The data can be from your workplace, from publicly available sources, or primary data that you collect on your own (e.g., a survey or behavioral observations).
2. Summarize one question or decision relevant to the real-world business situation that you will answer by collecting and analyzing a set of data.
3. Explain why the situation or question would benefit from a data analysis.
4. Identify all of the data that you will need to collect that is relevant to the situation or question.
Note: Identify the specific data relevant to part B1, such as time period, sample size, etc.
Note: A sample size of 30 is the suggested minimum size.
5. Describe the data gathering method will use to collect data.
Note: The data gathering method can include data sources (e.g., databases, surveys, behavioral observations, online sources, etc.)
6. Identify an appropriate data analysis technique from the approved list above to analyze this data.
a. Explain why the data analysis technique you chose is an appropriate technique to analyze the data collected.
B. Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.
C. Demonstrate professional communication in the content and presentation of your submission.
who gain commitment from this group of members to this direction and who then motivate these members to achieve the direction’s outcomes. On exploring the interlink between the culture of an organisation and the leadership styles, several factors come into account like organisational culture, transactional as well as transformational leadership styles. Voon, et al., (2011) had conducted a research and understood about the influence leadership has on the workforce of an organisation. Several factors like wages, job security as well as autonomy and flexibility at office were used. They concluded that transformational leadership style had a better direct relationship with job satisfaction. Transformational Leadership The transformational leadership style focuses on the nurturing of the respective followers as well as on what they actually need. This concept was first brought down by James MacGregor Burns, et al., (1978) in which he insists on the fact that how transforming leadership is a process in which “leaders and followers help each other to advance to a higher level of morale and motivation”. The leaders with transformational leadership style pay attention to growth and development of the value system of the workers, with their ingenuity level and ethics with the prologue of their capability. The extent of a transformational leader can be measured by the fact that how well can that individual influence the performance and motivate the follower. As suggested by Bass, et al., (1977) that the primary aim of a transformational leader is to ‘transform’ the employees as well as the company in the very literal manner, that is to change the way of their thinking in the mind and heart as well as broadening their vision and insight. It also means changing their way of comprehension making their behaviour in sync with the values of the organisation. This henceforth leads to changes deep within which are permanent in nature, self-sustaining and also builds a sense of momentum. Conclusion It is thus observed from the above and several literary texts, that all the researches that are done are related to the large sectors, which further indicate that the different styles of leadership, commitment towards the organisation as well as satisfaction at workplace are all dependent on each other. Therefore it can be concluded that the different styles of leadership directly impacts the quality and nature of work life in an organisation. The followers of a transformational leader harvest a sense of trust, loyalty, respect as well as admiration, which gradually builds up towards the leader and in light of the calibre of the transformational leader; the followers are ready to work more intensely than expected by the leader. Such an outcome eventually occurs as the transformational leader extends their followers something much more important than just working for one’s own benefit; an inspirational mission and vision is offer