Information Management Strategy
Order Code: 431344
Question Task Id: 0
- Subject Code :
Q1. Write a short paragraph to answer each of the following questions:
(a). What is an actionable insight? What are the key attributes to make an insight actionable? Give examples to contrast an actionable versus an unactionable.
(b).What are the three categories of insight-based value creation models and their example models? Select one top-line model and give a successful example from a well-known company, describing how they uses data to drive their business.
Q2. Given the ratings of movies from Africa and North America in the Africa_NA worksheet of the BUS1001-Ass2.xlsx Using the learnt statistical analysis techniques with MS Excel to provide answers/interpretations for the following questions.
(a). What is the probability of having a rating above 7 for an African movie? And for a North American movie?
(b). What is the 95% confidence interval of average rating of African movies?
(c). With 95% confidence, can one claim the average rating of an African movie is greater than 6?
(d). Apply hypothesis testing to find out whether one can claim that African movies have a significantly higher average rating than North American movies with 95% confidence.
Q3. A movie streaming company wants to promote movies from Africa. They want to get an insight into African movies so that they can come up with better strategies for the next production contracts. The African_Movies worksheet in the BUS1001-Ass2.xlsx file records the rating data of African movies.
You are required to analyse the provided data to support the company in deciding what genre should they produce, which production company should they sign contracts, etc. Visualise the result of your analysis in a dashboard, and give recommendations based on insights/findings uncovered from your analysis.
Specifically, you will:
- Formulate four analytics tasks/questions. For example, one question can be “what are the top ten genre of African movies that have the highest ratings and their corresponding total votes?”
- Analyse and visualise the results to answer the formulated questions. Then, create a dashboard to combine the created visualisations telling a story about the key patterns/insights that your analysis has discovered. You should choose appropriate visualisation types to convey your messages (e.g., bar chart, line chart, pie chart, ).
Hint: You should formulate many questions and then choose four that can create a good story to combine them in a dashboard.
- Interpret the results in your visualisations to have insights into African movies.
- Recommend appropriate actions based on your insights so the company can have better strategies for the next production contracts.