Question

How should data be collected? Where is it stored?

How long? When doing the actual data analysis what questions should be asked (i.e. determining sales by month, quarter etc.? Consider KPQ’s

Would the 5 step Business process apply here, which one?

What tools can be utilized? What type of trend analysis do you recommend? And why.

Answer 1

Data Collection:-

Observation:

Observation is a straightforward and inconspicuous method for gathering information. Assembling first hand data in the field gives the onlooker a comprehensive point of view that encourages them to comprehend the setting in which the thing being considered works or exists.

Observation is a viable strategy since it is direct and proficient: It doesn't ordinarily require broad preparing with respect to the information authority, and the person in question is commonly not subject to different members.

The greatest disadvantage of observational information is that it will in general be shallow and do not have the setting expected to give a total picture.

Quantitative Survey or Questionnaire:

This technique assemble total information on assessments, convictions, propensities and learning, utilizing a poll. Since the point is to acquire an enormous amount of information that can be consistently info utilizing programming, constrained reaction classifications are the standard. The information are then typically gathered into tables and charts and number rundowns. Measurable investigations, for example, chi-square, connection coefficients and t-tests can likewise be directed on information drawn utilizing a quantitative overview system.

Surveys are a well known methods for information gathering since they are modest and can give an expansive viewpoint. They can be directed eye to eye, via mail, phone, or Internet

Focus Group:

A Focus group is just a meeting of individuals who all share something practically speaking. They give indistinguishable sort of information from in-person meets, however include a social component and offer a more extensive comprehension of why a gathering thinks or carries on with a specific goal in mind.

These are helpful when looking at social qualities or other complex issues, yet in addition have their disadvantages. Absence of protection or secrecy can display a noteworthy snag, as can "bunch might suspect," or the potential for the gathering to be ruled by a couple of members.

These sessions can be tedious and troublesome, and require a pioneer who is talented at making a casual, inviting condition, drawing out inactive members, and notwithstanding managing struggle.

Field Research :-

Field research is an extremely included, multi-technique plan. The specialist moves toward becoming drenched in a characteristic field setting over some undefined time frame and uses any number of information gathering systems, running from field meetings to inconspicuous perception of conduct. The composed record of the examination is regularly alluded to as ethnography, a rich enlightening record of the field encounters normally consolidating photographic pictures and charts, maps, stories, etc.

Case Study:

This Technique includes concentrating on a specific individual, association or gathering, for example, an organization, non-benefit office or religious faction, to give some examples. The objective of a contextual analysis is restricted to spellbindingly enumerating how a specific case works or creates inside the particular parameters of the earth. Various procedures are regularly used to gather the information/data, going from accessible information and data to interviews with key partners or casual field studies including participation at occasions, services or gatherings.

WHERE DATA IS STORED:-

The collected data should be stored at location ,Server where the data is safe and secure and can be maintained for readability purpose. Organisations like Microsoft, Oracle, Teradata provides DBMS system to store data in forms of table. Further, data could be also stored at file locations on Computer disk. The storage object could be Microsoft word, excel, pdf etc.

These files can also be uploaded in above mentioned database ( SQL Server, Oracle etc)

It is always advice to stored data in encrypted form so that it is secured and safe.

Questions to be asked while doing data analysis:-

KPQ’s are always important to understand the correct expectation and requirement of business. To create KPI which could be further displayed in the form of reports KPQ’s always serve as pre requisite. Some of the important questions which could be asked are as following:

• Duration for which trends needs to be displayed in the report.
• From what source(Sales force, SAP,CRM) data needs to be extracted.
• Legal data retaliation policy
• Data Archival and Historical data uses
• Point of contact for different subject areas ( Sales, Marketing, Support etc)
• Number of concurrent users

5 STEP BUSINESS PROCESS:-

Step 1: Design

Most procedures incorporate a structure to gather information and a work process to process it. Fabricate your structure and distinguish who will possess each undertaking in the work process.

Step 2: Model

Speak to the procedure in a visual design. Fix subtleties like due dates and conditions to give an unmistakable thought of the arrangement of occasions, and the progression of information through the procedure.

Step 3: Execute

Execute the procedure by testing it live with a little gathering first and afterward open it up to all clients. Ensure you limit access to delicate data.

Step 4: Monitor

Watch out for the procedure as it goes through the work process. Utilize the correct measurements to recognize advance, measure proficiency, and find bottlenecks.

Step 5: Optimize

As you break down, see any progressions that should be done to your structure or work process to make them progressively productive. Consider business process improvement steps.

TOOLS

Some of the effective tools are as follows :

Failure mode and effects analysis (FMEA): You can utilize this instrument to distinguish the main driver of an issue. It's an exceptionally organized methodology that starts by recognizing every conceivable thing that can turn out badly, or the disappointment methods of your procedure or item.

After you distinguish the disappointment modes, you rank every one as indicated by its likeliness happening, its effect in the event that it did happen, and its probability being found before achieving the client. You figure a hazard need number (RPN) from these rankings, which can help organize the basic disappointment modes.

Control chart: Statistical process control (SPC) is a measurable method used to screen and control forms. The most widely recognized SPC apparatus is the control outline, which is generally a line chart appearing specific estimation assumed control after some time. The control diagram is a straightforward visual instrument you can use to screen a procedure to consider whether to be's executing true to form. Utilizing the recorded information from a run diagram, you can figure upper and lower control limits. You plot these points of confinement on the control outline and contrast them with extra estimations. An estimation that falls outside the point of confinement shows that something has happened to the procedure, and you may need to make a move.

Run chart: This diagram is a straight Forward yet amazing asset used to screen a procedure after some time. You can utilize it to distinguish changes in mean estimation and patterns that may happen. Not at all like the control graph talked about straightaway, the run outline doesn't require any factual examination.

Ishikawa diagram: The Ishikawa outline (frequently called a fish bone chart in view of its similarity to a fish skeleton) is one of many circumstances and logical results apparatuses. The outline begins at the head with an issue articulation. Running along the spine are potential reasons for the issue.

These causes are normally gathered in classes, for example, the board, labor, materials, techniques, or machines. The fish bone outline gives a valuable visual apparatus to recognize the main driver of an issue.

Process flow diagram: This graph is at the core of ceaseless improvement. It speaks to everything that occurs in a procedure, and you should finish it before leaving on procedure improvement. The underlying procedure stream graph is important to comprehend what's really being done and gives an archive that you can use to convey procedure changes.

Suggested Trend Analysis :

Lean and agile manufacturing

Built up by the Toyota Corporation, the term lean assembling has turned into a standard pattern in the business, and it is utilized compatible with Just-In-Time generation. The idea driving is a steady improvement of procedures to diminish waste and stock, and boost the yield of superb, minimal effort items and administrations.

Another contort on this idea is deft, or also called "the new lean." It has its beginnings in programming improvement however at this point is utilized by different enterprises. It sprung up because the developing intricacy of procedures, and it is described side-effect advancement done in little augmentations and super-quick basic leadership. These together guarantee the essential adaptability and intuitiveness, demonstrated solutions for flighty changes in market request.