EVALUATING DATA
Weekly Learning Outcomes
This week students will
- Design selected quantitative variables.
- Evaluate groups of data.
- Analyze data correlations.
- Evaluate a linear regression model.
Many organizations have a multitude of data available to them but may not know what to do with these data. It is crucial to be able to study and turn data into useful information. In Week 1, you will focus on becoming comfortable with data. In your first discussion, you will look at real-world reports and begin identifying useful data points. In the second discussion, you will study data visualization techniques such as tables, charts, and graphs and learn about which ones are more effective for data displays. In your assignment, you will focus on identifying key data points in financial statements, create visuals to showcase the data, and study these visuals to find useful information.
Walmart. (n.d.). Financial information: Annual reports & proxies. Retrieved from https://stock.walmart.com/investors/financial-information/annual-reports-and-proxies/default.aspx • This webpage provides information about Walmart’s financial information, including access to their annual reports, and may be useful in your Data Description Reflection discussion forum this week. Accessibility Statement does not exist. Privacy Policy
Post Your Introduction. 1st Post Due by Day 1. Welcome to BUS625: Data and Decision Analytics. Use this forum to introduce yourself to your classmates, including your professional background and how you will use the knowledge you gain from this course. In your post, share one data point about yourself, giving little to no context about your data point. For example, if you share the number “2,” it might mean that you have two children, or that you were born on May 2nd. Let your classmates guess the meaning behind your data point. Guided Response: Respond to at least three of your classmates by commenting on their posts by Day 7. Based on your classmates’ posts, attempt to correctly identify their data point’s meaning. Be sure to review replies to your own introduction and respond with the correct answer to your data point by Day 7.
Data Description Reflection [WLOs: 2, 3] [CLOs: 1, 5]. 1st Post Due by Day 3. Prior to beginning work on this discussion forum, read Chapter 1 of your textbook. On the Internet, find the most recent quarterly sales, comparable sales, financial report, or any other data set for a corporation that you work at now or have worked in the past, or an organization you are familiar with. For example, view Walmart’s Financial Information: Annual Reports & Proxies page to the find the comparable store sales for Walmart. Note: The Walmart Financial Information page is just an example. You will need to find your own company to research, searching for the most recent data. In your post, examine three different data points from the data set. Be sure to include the URL of the website you are considering. For the data points you selected, address each of the following: • Indicate the name of the data for each data point and the information associated with the data. Copy and paste the three selected data points in your post. • Explain whether the variable is cross-sectional or time series. • Explain whether the type is quantitative or categorical. If quantitative, give the unit of measurement
What are the important factors in the dataset? How would you plan to handle the missing data if
there are some in the report?
• Explain the value of the data. Who might find this useful? Why?
Data Visualization Reflection [WLO: 4] [CLOs: 1]. 1st Post Due by Day 3. Prior to beginning work on
this discussion forum, read Chapter 2 of your textbook. Data visualization is the first step in
communicating and displaying the results of data analysis. Commonly known data visualization
techniques are tables and charts. Visualization techniques are selected based on the information that
must be conveyed to the users. In your discussion,
• Categorize situations where tables are a preferred visualization technique. Illustrate with an
example.
• Choose five different charting techniques that are available for visualization and compare.
Explain why some are not suitable for displaying data and why others are more effective for
data displays.
• Explain Simpson’s paradox and provide an example different from the one listed in your
textbook.
- Week 1 Reflective Journal [WLOs: 2, 3] [CLOs: 1, 3, 4]. Due by Day 7. Prior to beginning work on this assignment, read Chapters 1 and 2 in Superforecasting. The intent of the journal is to apply what you have learned to how data analytics is applied in industry. After reading the assigned chapters of Superforecasting this week, write a reflective journal of the three most important take-aways contained in the chapters. Your journal should be between two to three pages excluding cover and reference page.
Turning Variables Into Knowledge [WLOs: 1, 2, 3] [CLOs: 2, 3, 5]. Due by Day 7. Prior to beginning work on this assignment, read Chapters 1 and 2 of your textbook. Imagine that you are hired as a data analyst for a bank. The bank would like to learn more about its customers’ spending and banking habits to identify areas of improvement. You have been asked to review the bank’s income statements over the last 5 years and identify trends that will allow them to better understand their customers. Download your chosen bank’s annual income statements from the last 5 years from the Mergent database in the University of Arizona Global Campus University Library. Review the Mergent Online: Accessing Mergent Online resource for tips on accessing and searching the Mergent database. Use the “Company Financials” tab in Mergent to access the income statements.
Identify three variables or categories that the bank may be interested in further researching, such as sales or revenue. Using these three variables or categories, build a frequency table, a bar chart, and a pie chart using Excel. Review the Microsoft Excel Help: BUS625 Excel Guide webpage, available in the online classroom, for resources to help utilize Microsoft Excel. You will be using the same three variables in each table and chart, so the same data will be displayed in three different formats.
After creating the three tables, which of the tables and charts do you find most useful for
communicating information about the bank’s customers? Write a brief case report summarizing your
analysis and results.
In your paper,
• Identify three variables in the income statements that the bank may be interested further
researching to learn more about its customers.
• Develop a frequency table, a bar chart, and a pie chart using variables in the income statements
for your bank.
• Analyze the table and charts to find the most useful information for communicating information
about the bank’s customers.
• Summarize your analysis and results, including how the charts were useful in your research.
