Reference no: EM132607477

Task 1 - Project: Business Problem

For your workplace, a workplace you have access to or a simulated business, you are required to identify one significant business problem. Having identified the problem, you must develop and maintain an information processing systems to support decision making around resolution of the problem.

In order to complete this task, you will need to:

• source and analyse information for business decisions including: identifying business problems and issues and related knowledge and data requirements; confirming the clear and relevant objectives for analysis of information; applying statistical analysis, sensitivity analysis and other techniques to draw conclusions relevant to decisions; ensuring sufficient valid and reliable information or evidence is available to support decisions; using formal and informal networks to source information not held in formal systems; identifying and accessing sources of reliable information; using technology as appropriate; and consultation with stakeholders and specialists.

This information must be recorded in databases, logs and journals and must form the basis of a summary report that:

• Identifies the problem
• Outlines the relevant information required
• Specifies the methods by which the information is collected, collated and recorded
• Defines how the information was tested for reliability and validity
• Analyses the relevant information and applies it to the problem such that management decisions can be made
o At least 3 of the following statistical techniques must be utilised: correlation calculations, long-term trend analyses, probability assessment, regulation analyses, short to medium-term trend analyses, dynamic programming, linear programming, queuing theory, simulation, transportation methodology
• Describes use of technology for optimum efficiency and quality
• Makes recommendations based of analysis of the collected information As such, the completed report will:
• contribute information and the outcomes of analysis to decision making, and
• disseminate information to relevant groups and individuals including:

o documenting information and updating databases
o meeting identified needs of recipients
o adhering to legal and organisational requirements for privacy and security
o developing and implementing communication plans

Attachment:- Business Problem.rar