“Data-Driven Decision Making: Utilizing Business Statistics and Models for Success in the Automotive Industry – A Case Study of CarMax”

In week 1 of this course you were asked to identify a business that interests you. Throughout this course you completed several assignments pertaining to your identified business. The signature assignment will pull together these assignments and you will submit a paper that addresses the following:
1.      Explain your business in 150 words with three scholarly sources (week 3 assignment).
Business introduction starts with industrial view, market trends,  target customers, and products or services that the new business will offer. This will be a good practice where you will present data, statistic, and information to describe prospect of industry and market; target customers and products or services. The main focus will be on how effectively use data, statistic, and information to convince investors of your business plan. ( Do not write an essay of entrepreneurial speech here. This course is where you practice data incorporation in decision making and analyses)
For example, if you type “healthy food in United States” in Statista of SSU library database, you will see useful graphs and numbers that you can use for your assignments and signature assignment. In addition, US census bureau collect and publishes data, which shows data transparency and policy making based on it. Particularly, business trends in US census are found here.
IT WILL BE FOR CARMAX
2.      Explain how business statistics are important to your business (week 1 & 2 discussion). Elaborate on your five chosen statistics from week 1 ( 350 words).
3.      In week 5 you identified two variables that are important to an area in your chosen business. Elaborate on the significance of your chosen variables by applying regression analysis method ( 300 words).
4.      In week 6 you completed a sales forecast for our chosen business. Provide a written rationale for your sales forecast with detailed explanations. Integrate your spreadsheet with the sales forecast into the Word document. The narrative should be 350 words with three scholarly references that you used in week 6. The Excel spreadsheet forecast should not exceed 1 page in your document files (doc or docx). Make them small and copy in only one page.
5.      Describe how you might use decision models in your business (week 7 discussion). Minimum word count for this part is 200 words. You can use your assignment in week 7.
6.      Describe how a continuous simulation model can benefit the business strategy decisions for your chosen business. Provide realistic examples (minimum 200 words). You can use your assignment in week 8.