INS630

INSS 630 Assignment#4

In this assignment, you are required to complete three tasks.

In the first task, you should complete Quiz 4 (covering Chapter 10, 12 and 13), and save the document as Quiz4LastnameFirstname.doc (e.g., Quiz4MaiBin.doc).

In the second task, you should carefully study the “Frugal Innovation” presentation posted on Blackboard, and conduct your own research on the topic of technology innovation with limited resources. Write a report on the topic of frugal innovation, addressing the following main issues:

1) How would you define “frugal innovation”? Identify four unique characteristics of frugal innovation that distinguish it from traditional technology innovation;

2) Briefly describe two cases of frugal innovation that you researched;

3) Do you think frugal innovation would be a significant phenomenon for the global economy? Why or why not? What impacts do you see it would have on the individual business organizations implementing the frugal innovation, to the nations fostering the frugal innovation environment, and to the global society as a whole?

4) Describe in words the Integrated Framework for Frugal Innovation (IFFI), as presented in the presentation. Provide your own opinions regarding any additional factors that should be included in IFFI, and/or the factors currently included in IFFI that should be eliminated. Justify your opinions.

Your report should be in Word document of 3-4 pages, using font size 12 and single line spacing. Save the file as IFFILastnameFirstname.doc (e.g., IFFIMaiBin.doc).

The third task requires you to carefully read the “Why Quants Don’t know Everything” article posted on Blackboard, and conduct your own research, and then write an analysis report that addresses the following issues:

a. What are the four stages, as identified in the article, of data analytics significantly

influencing the traditional business operations / decision makings in specific industry?

b. Based on the explanation in the article, which discipline/industry do you think will be

ripe for the next break through in big data analytics? Why?

c. In your own word, explain what potential disadvantages over‐relying on data analytics

would bring to decision making. Give some specific examples.

Your answers should be in one single document of 3-4 pages. Use font size 12, and single line spacing in the document. Save your document with as “QuantsLastnameFirstname.doc.

Submit all three documents through Blackboard link before due time.

Due time: 4:55 pm ET, 5/1. No late submission allowed.