Preparing for Analysis and Measurement of Success

QUESTION: Prepare a 4-6 page business report that introduces a new offer and explains how data will be used to define its success, how it will be identified and differentiated within the data, and how it will tracked and reported on.

*Please also see the attached scoring guide and template for reference.

RESOURCES:

• Friedrichs, M. (2014, May 28). Top 5 digital account opening benchmarks for banks and credit unions. Retrieved from https://thefinancialbrand.com/39948/online-mobile-digital-bank-account-opening-benchmarks/
• Kenny, P. (2014). Better business decisions from data: Statistical analysis for professional success. New York, NY: Apress. Chapter 5, “Raw Data.”
• Thomas, R., & McSharry, P. (2015). Big data revolution: What farmers, doctors, and insurance agents can teach us about patterns in big data. West Sussex, UK: John Wiley and Sons. Chapters 1–9 provide great examples of ways that data have been used to change industries that we regularly interact with, such as farming.
• Watson, H. J. (2018). Successful analytics leaders. Business Intelligence Journal, 23(1), 5–11.

INSTRUCTIONS:

You are a branch manager at a regional financial services institution, specializing in deposit banking. Leadership at the home office has selected your branch to pilot a new account opening offer for checking accounts opened by new customers. It is your responsibility to be able to identify the accounts that were opened with this offer and to be able to track and report back to the home office on whether the new offer is successful.

Examples of some measurements that are used for measuring and tracking account openings are provided in the Friedrichs (2014) article below. Please note that the example in the article is for mobile and digital account openings, but it should give you a starting point for thinking about how you might track and report on new accounts opened under your specific offer.

The report will be reviewed by all stakeholders. In the report:

• Introduce the new offer.
• Describe what a leader must consider in applying analytics to the offer, product, or play.
• Explain how you will define the success of the offer, product, or play from a business perspective.
• Explain how you will identify the offer, product, or play in the data collected and stored by the organization and differentiate it from other offers, products, or plays.
• Propose descriptive methods for tracking and reporting on the progress of the new offer, product, or sports play.

• Use specific field/variable names and sample values for this.

• Include at least two variables and calculations/measurements on those variables that you will use to measure success.
• Include at least two graphs you will use to track the success of the offer, product, or play.

Deliverable Format

The business report is a professional document and should therefore follow the corresponding MBA Academic and Professional Document Guidelines (located in the MBA Program Resources), but it should use double-spacing. Analytics reports can be wordy, so double-spacing makes it easier for the reader.

In addition, include:

• Title page.
• References page.
• APA-formatted references.
• 4–6 pages in length.
• References to at least 2 resources to support your work.

 

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