Paper On Data Driven Decision Making Using Real World Data

Data Driven Decision MakingTemplate

Student name:	Bryan West
ID number:	000825001
Date:	9/9/2018
PROMPT	RESPONSE
B. Describe a real-world business situation that could be addressed by collecting and analyzing a set of data.	Poor corporate governance in the U.S is of concern to businesses as it could lead to heavy fines disrupting a business. Financial institutions are experiencing huge fines for failing to adhere to the required standards and regulations. Poor corporate governance costs the financial institutions over $150 billion since 2009.
B1. Summarize one question or decision relevant to the real-world business situation you will answer by collecting and analyzing a set of data.	What is the effect of shady dealings in financial institutions?
B2. Explain why the situation or question would benefit from a data analysis.	Prevention is believed to be better than cure; therefore, there is need to list huge fines experienced by some banks to help other financial institutions avoid shady dealings that could incur them huge fines that could disrupt business.
B3. Identify data you will need to collect that is relevant to the situation or question. Note: A sample size of 30 or more is suggested to provide a statistically reliable finding.	The sample will consist of 10 recorded years from the Boston Consulting Group website. The samples measured are the huge fines banks have incurred due to shady dealings thus the need to avoid such dealings.
B4. Describe the data gathering methodology you will use to collect data.	Secondary data collection will help collect information about the hefty fines imposed on financial institutions to help prevent illegal and unethical conduct of financial institutions. This information will be obtained from the Boston Consulting Group research website.

B5.

Identify the appropriate data analysis technique youwill use to analyze this data (e.g., linear programming, crossover analysis, t-test, regression).

The regression analysis will be the most suitable data analysis technique to be used. Linear regression will be used to understand the changes in hefty fines imposed on financial institutions over years.

B5a.

Explain why the data analysis technique you chose isan appropriatetechnique to analyze the data collected.

Regression analysis, in particular, linear regression, uses statistical processes for determining relationships. It will help model relationships and find trends in data. An equation obtained from the data can help draw a graph to better illustrate the trends in data. This can help make predictions of the data. Additionally, linear regression is straightforward and easy to use.

Sources Used (if applicable)

Staying the Course in Banking. (2017). Retrieved from The Boston Consulting Group: http://image-src.bcg.com/BCG_COM/BCG-Staying-the-Course-in-Banking-Mar-2017_tcm9-146794.pdf

Paper On Data Driven Decision Making Using Real World Data

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