What are the applications of the data

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Reference no: EM131501843

Overview

Milestone Two will be completed in Module Three. Milestone Two is centered on formulating sound research questions and evaluating data sources.

From your assessment in Milestone One of the business problem/opportunity faced by Running for Glory, develop sound research questions that can be used in the creation of solutions to your client's issues.

There might be existing data available as well as data you might want to gather for your analysis. Develop a list of sources and types of data that you could use. Which are available now? Which are not?

The Scenario: Running for Glory (RfG) is a one-site running-centric fitness store in Seattle, WA. Seattle has been a center of running enthusiasts for over 40 years, with many stores catering to a wide variety of customers. However, in the past 20 years, most of the stores have expanded to include other sports and have lost their focus on the running trade.

Running for Glory has stayed true to its running history and has developed an extremely loyal, almost fanatical customer base. However, the company has not kept abreast of the advances in technology, so it does not know much about its customers other than what its cash registers tell.

It can produce basic sales data from its cash register systems, and it can manage inventory records with the help of its suppliers, but RfG cannot analyze trends in customer demographics, develop strategic plans for expansion, or engage in serious discussion with its suppliers concerning the viability of sourcing new products or eliminating any existing ones.

One of the Running for Glory partners is convinced that the company should expand to the farther suburbs, where many younger people are locating.

This partner believes that RfG's future lies in attracting new, younger customers in these farther suburbs, but without any demographic data, the four partners have only their instincts to use in making any decisions.

RfG management, including executive partners, has decided to hire a consulting company to analyze the company's situation and develop a report. You have been selected as a consultant for this project.

Assignment

Develop a list of sources and types of data that you could use. Is the data primary or secondary? What are the applications of the data?

How would you assess the quality and relevance of the data? What is the relevance? Compile this list into a table. Be as thorough as you can, providing as many data types and sources as you can.

Your final table should contain at least 10 sources of data with all other columns filled out accordingly.

Data Source

Data Type

Application

Quality

Relevance

Limitations

Comments

Reference no: EM131501843

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