Assignment: Investigating Analytical Levels for Optimal Decision-Making

Weighting: 30%

Due: Week 4, Sunday

Assignment Objectives

• Demonstrate an understanding of descriptive, diagnostic, predictive, and prescriptive analytics.
• Develop critical thinking skills in evaluating the decision-making process for selecting the most appropriate analytical level.
• Apply analytical levels within real-world case studies to maximise analytical performance and outcomes.

Assignment Instructions

Part A - Research and Define Analytical Levels (20%)

Define and describe:

• Descriptive Analytics
• Diagnostic Analytics
• Predictive Analytics
• Prescriptive Analytics

Requirements:

• Provide at least 2, real-world examples (not from lectures or textbooks) of how each level is used in business decision-making.
• Give relationship between all the analytics.
• Examples must be drawn from recent news, industry reports, or publicly available datasets.

Part B - Decision-Making Framework (20%)

• Create a decision-making framework or flowchart that outlines the key factors to consider when selecting the most appropriate analytical level.
• Justify the inclusion of each factor and discuss its importance.
• Apply your framework to one unique business scenario of your choice.

Part C - Case Study Selection (10%)

• Identify two (2) relevant case studies that demonstrate the application of different analytical levels.

Case studies must:

• Be published within the last two years
• Comes from academic sources

Additional Requirements:

• Provide a summary of each case study and the business problem addressed.

Part D - Case Study Analysis (35%)

For each case study:

• Identify the analytical level(s) applied.
• Explain how and why the chosen level(s) fit the scenario.
• Analyse the effectiveness of the applied analytical level(s) in driving decision-making.
• Propose alternative levels or hybrid approaches and justify your proposals.
• Reflect on: "If this problem occurred in a different context (e.g., smaller business, different industry, or resource constraints), which analytical level(s) would you use and why?"

Part E - Conclusion and Recommendations (15%)

• Summarise your findings on the importance of matching analytical levels to specific business problems.
• Develop general recommendations for how organisations can optimise analytical performance by carefully selecting analytical approaches.
• Provide a short personal reflection: "How will the knowledge of analytical levels influence the way you approach problem-solving in your future studies or career?"

Report Requirements

Word Count: 1500 words (+/- 10%)

Diagrams: Include flowcharts, frameworks, or visualisations.

References: APA style, minimum of 8 academic or industry references