Unit 31: Statistics for Management

Added on - 10 Mar 2021

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,StudentName/IDNumberHà Vũ Đức Anh F12-002UnitNumberandTitleUnit 31: Statistics for ManagementAcademicYearSemester1, Academic year 2020 - 2021UnitAssessorMr Martin Ortega-AzurduyAssignmentNumberandTitleSFM1: Data Analysis and Data Insight (1 of 2)IssueDate28thSeptember 2020SubmissionDateTo be announced by officeIVNameDr Nguyen Hoai Son (IV) Dr Doti Chee (Lead IV)Date4thSeptember 2020
1STATISTICS FOR MANAGEMENT INSAVINA BOOK COMPANYName: Hà Vũ Đức AnhClass: F12EGroup: 4ID: F12-002Email: havuducanh@gmail.comDate: 10/16/2020Word Count: 2900 (Body)
STATISTICS FOR MANAGEMENTTo : ManagerFrom: Hà Vũ Đức Anh, Assistant Business Data Analyst, VingroupRe: Providing a report on the value and importance of statistical managementI am writing this message to inform you that I have been able to gather enough informationsthat can show the value and importance of statistical management, producing analysis of rawdata and communicating findings appropriately in order to reach company objectives.When I was given this research, I know I have to gather informationfrom all sourrces thtrelate to statical manageme as well as serveral data method to produce raw data as example todemonstrate the result to the company.So give it a try, please feel welcome to ask me question. Thank you very much2
Table ContentBusiness MeMo1) Introduction ........ 22) Method that had been used in this research2.1Data from secondary and primary research that had been used in Savina....2,3,42.2Value of employing statistical methods.......... 42.3Evaluate the suitability of one type of data analysis vs another........ 53. An analysis of deductives and inductives approaches and what the implications arefor business intelligence.............. 5,6,74. Examples of analysis of given sample sets of data that could be used by theorganization ..........7,8,9,10,115. Evaluate the chart and table and the reason why use it.....12,133
List of figure:Figure 4: Savina Annual Revenue...... 10Figure 4.1: Survey.... 13Figure 4.2: Number of people....16Figure 4.3: Y ( Advertising) ..... 194
1) Introduction:Statistics, through the usingof data presentationsand analysis, is the study of actual figures(Kalla, 2011). Statistics have a variety of basic attributes that are expressed by numbers in theresearch, WithFunctional enumerated criteria as well as calculation, which are set andapplied for specific purposes.Quantitative and qualitative data'sare used to provide statistics. In addition, on realisticprinciples, figures are enumerated and calculated. Requirements on elements like precision orresource must also be applied, depending on theParticular features of each sample, whenconducting an enumerationas well asestimationof results. For particular reasons, figuresAre often calculated and used. It is important for the process of data collectionsand theprocess of statistical setting to be carried out for a reason specified from the outset.With such functions, figures play an important role in achieving the goals of organizations.Increasing job efficiency and output is the advantage of data for industry (Watkins, 2016).Statistics helps staff to smoothly and reliably execute activities with helpful tools such as datamaps and graphs. It also has other pros that use figures to count expenses, estimate budgetand benefit when it comes to operating divisions like accounting and finance in order to makeright financial decisions for Savina company to reach it’s objective. Which is making a highquality books that suitable with different type of age, gender and people’s book interest inViet Nam as well as Promote business on online sales channels.2. Method that had been used in this researchBecause of wanting to make better products so researcher had use both secondary andprimary sources to help company have a clear decision-making for it’s business.2.1 Data from secondary and primary research that had been used in Savina- The secondary research: The data that collected by someone other than the researcher.Here's the relevant released sourcesthat the company will use:(+) Books, journals, articles: The businessnewspaper data, annual report,...- Primary dataThe type of data that organization collect by itself. Examples include surveys, interviews,observations, and ethnographic research. If the organization wishes to accomplish its goals,this will be the suitable sources for company to reach their objectices. Applyingthe survey5
and interview tools to collectcustomer data, they can easily obtain customer awareness andconsumer demands.- Types of data and Applying to SavinaNumericalCategoricalDiscreteContinuousNominalOrdinalCharacteristicsCountablekExample:kpopulationsMeasuredkEx:kheightUnorderedkExample:SexRankedkExample:kBloodkgroupsTypesQuantitativekdataQualitativekdataFind out whether or not 2type of data haverelationshipsChi-squareDatakmustkbekgroupedKindkofkstatisticskusingDescriptivekstatisticsk(mean,kmedian,orkkurtosis)Inferentialkstatisticsk(kalpha,kAlternativekhypothesis)Saunders,kM.,kLewis,kP.kandkThornhill,kA.k(2009-Sampling Method ( Profitability and Non-profitabiltiy sampling)Simple SamplingJudgmental samplingMeaningEvery subject meeting the criteria ofinclusion is selected until the requiredsample size is achievedThe sample members are chosenonly on the basis of the researcher’sknowledge and judgmentAdCosts less moneyCan be concluded in shorter timedurationLow costLess time involved2.2 Value of employing statistical methodsThere are two types of statistical techniques: descriptive as well asinferential statistical.The given figure will display the difference between serveralforms of statistics:DescriptivekStatisticsInferentialkStatisticsPurposesSummarizingthe natural informationfrom raw data and create efficientsolutionsAnalyzingthe data and the crucialfinding onseveralsamplemeasurement in detail and6
afterwards refer it to the entirepopulationCommunication MethodSurvey toolsGroundedktheories,karchivalkresearchsPros- Having Lower sample numbers thaninferential numbers- Donot have many biases as wellasmistakes- Allowing the investigator tocompare- Havingan obvious explanationstructureLarge information, test sample2.3 Evaluate the suitability of one type of data analysis vs anotherDescriptiveConfirmatoryExploratoryUsedGiving informationaboutkthekfrequency,ksizeChecking the level ofprecision of a hypothesisFinding insightsand roots of thematterKindkofkdatakandkapproachesQuantitative dataDeductive approachQuantitative dataDeductive approachInductiveapproachSuitabilityUsedkwhenkthekdata iskalready givenUsedkwhenkthekhypothesiskiskalreadyksetQualitative data3. An analysis of deductive and inductive approaches and what the implications are forbusiness intelligenceDeductives and inductives approach are twoseparate principles of approaching aphenomenon in order to get the results that suits the intent of the researcher. However, theinductive method began to set up a new hypothesis that hasn't been revealedbasedonresearcherstudy's observed evidence (Gabriel, 2013).For instance, the researcher of Savina company apply the inductive approach first in order tonarrow down the scope of the research. The researcher uses online survey methods ( primaryresearch) as a tool to test the new book products as well as the non-profitabiltity samplingwas also be applied in order to narrow down the scope.7
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