Data Driven Decision Making

Student name:

Marc Furmanski

ID number:

000578336

Date:

02/1/2018

PROMPT

RESPONSE

B.

Describe a real-world business situation that could be addressed by collecting and analyzing a set of data.

The flu causes U.S. companies to lose countless working days, lost employee productivity, and operating their organizations through minimal staffing solutions. The flu outbreak has been seen in epidemic proportions, overburdening our nation’s healthcare facilities in containment and prevention of further viral transmission.

B1.

Summarize one question or decision relevant to the real-world business situation you will answer by collecting and analyzing a set of data.

Is there a significant trend over time for the flu vaccine effectiveness?

B2.

Explain why the situation or question would benefit from a data analysis.

Despite the failure of the predicted Flu strain in previous years (effectiveness), it is highly recommended to receive the flu vaccine to lessen the flu symptoms (time).

B3.

Identify data you will need to collect that is relevant to the situation or question. Note: A sample size of 30 or more is suggested to provide a statistically reliable finding.

The sample will consist of 13 recorded years from the CDC website. The samples that are measured are seasonal flu vaccine effectiveness.

B4.

Describe the data gathering methodology you will use to collect data.

Secondary data collection will be utilized to extract flu vaccine effectiveness. The data will be retrieved from the CDC website.

B5.

Identify the appropriate data analysis technique you will use to analyze this data (e.g., linear programming, crossover analysis, t-test, regression).

The Regression analysis technique will be utilized for this analysis.

B5a.

Explain why the data analysis technique you chose is an appropriate technique to analyze the data collected.

Regression analysis is an arithmetical tool measuring

a link between a dependent variable (Y) and one or more independent variables (X). Simple regression analysis basically determines if there is a strong correlation between the 2 variables and how might this correlation determine a predictable forecast. A time series forecast will determine if there is a strong correlation between time (waiting for the flu shot) and the flu vaccine (effectiveness).

C.

Sources Used (if applicable)