This week’s assignment is in two parts.
In part one we start thinking about how you will lead the effort to acquire, prepare, and integrate data for an analytics-based initiative. According to Provost & Fawcett (2013), “it is important to understand the strengths and limitations of the data because rarely is there an exact match with the problem’ (p. 28). When considering your assignment from week 2, please list the data sources you would seek and state whether they are to be acquired internally or externally. In leading the analytics-based initiative for your fictitious company, explain how you would acquire the data, the roles of team members you would collaborate with and any preparation that would be necessary before handing off to the modeling group. Remember that the back and forth exchange of data with the business model and modelers (CRISP-DM) should be iterative.
This part of the assignment should be no more that two double spaced pages with the heading Acquiring and Preparing the Data for addressing [the name/description of your business problem from assignment 2]
Part two of the assignment introduces you to leadership in modeling. You will start by gaining a preliminary and high level understanding of descriptive and predictive modeling techniques as well as unsupervised and supervised segmentation, clustering and basic regression (don’t worry about the formulas or how they were derived). Then, based on your problem statement from week 2 as well as your analysis of the data and data preparation stages, you are to select a descriptive analytics modeling technique and explain how it will assist you in providing the hindsight needed to ensure that the team fully understands the business and the business problem. We are following CRISP-DM so it is assumed from previous assignments that you have an understanding of your business problem, a further understanding of the data, have an idea of how you will prepare the data, as well as how you will fit the model to the data.
Again, remember that this is a leadership in analytics class and I am more concerned with how you will lead the team in selecting the appropriate modeling techniques, how you defend their selection, and how you will lead the team in setting expectations to include a full understanding of why (through data) the business problem exists.
For this part of the assignment please provide no more than two double spaced pages describing your leadership approach in selecting a descriptive modeling technique while ensuring that there is an adequate understanding of the business and the business problem as well as the reasons why you are now comfortable with moving on “what happened” to predicting what “could happen” to solve your business problem through an analytics-based solution.