Reference no: EM13540491
Most businesses can benefit from Statistical Process Controls (to ensure consistency in product or service delivery), Linear Programming (to ensure optimal use of resources and maximization of some objective), Queueing (to ensure adequete resources to handle things or people waiting to be processed), Forecasting (to best set expectations, budgets, and plan accordingly), and Scheduling (to ensure optimal ordering of tasks).
Up until now we looked each of these quantitative tools individually. This project is designed to consider them simultaneously and holistically. For this project, select any company you wish.
You will then make up the data (extra credit if you use real data). You will then apply each of the techniques to the data for the same client. Then for each of the applications, you will discuss the implications for the business. Finally, you will summarize the next conclusions and recommendations. This assignment requires you provide holistic guidance to a single client along all 5 different aspects. The Data Select any real company for use in this project. This company can of any type, size, and industry.
You will need to make up the data that is reflective of various aspects of this company. Whatever data you invent for this project must be relevant to any specific aspect of the operations of the selected company. For Statistical Process Controls, you are to make up (or collect actual data) so as to be able to apply an x-chart. Make sure to show the data you use along with a thorough application of Statistical Process Controls of this data.
For Linear Programming, you are to make up (or collect actual data) so as to be able to apply a complete linear programming optimization. Make sure to show the data to be used, show the linear program you create, and the solution. For the Queuing, you are to make up (or collect actual data) so as to be able to determine all the queue characteristics and optimize the queue by changing the number of servers or modifying the queue in any way.
For the Forecasting, you are to make up (or collect actual data) so as to be able to produce a complete forecast. Make sure to show the data being used, the forecast, and detail how the forecast was created, including showing the equations you used to validate and generate the forecast. For the Scheduling, you are make up (or collect actual data) so as to be able to optimize a schedule. Make sure to show the data being used, the optimal schedule created, and quantify the various properties of the schedule such as total time, idle time, etc.
The Deliverable Please write a PowerPoint presentation in which the 5 different analytics are included. Make sure to address all of the question below into the presentation. Make sure to address every question below in whatever order tells the best story.
Contents of the Presentation: Background of the company you selected For each of the five topics: Describe the background of the data being used (make sure to also show the data) What are the results of the analysis? Be specific and detailed. What are the implications of the results of the analysis on the client? Be thorough.
What are some of the weaknesses of the analysis you did? Be specific. If your client was to conduct this analysis, how should they run it to overcome the above weaknesses? Be specific.
What was the most important attribute the client should take away from this analysis and why? General In light of the entire set of analyses, what recommendations do you have for your client? Be specific.
What are other analytics that could be done for this client that would add insight?
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