WK 3 ASS- BUS 307 Data Analysis Skills and Thinking Submit a paper of at least four...

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Operations Management

WK 3 ASS- BUS 307
Data Analysis Skills and Thinking
Submit a paper of at least four pages in length, excluding thetitle and reference pages, that includes at least three sources,including a minimum of two scholarly sources and the text. Explainin detail why data analysis skills are so important to SpendAnalysis. Describe how a structured process such as Six Sigmamethodology (Chapter 4) can be useful to identify spending patternsand identify opportunities for improvement. Recommend whichfunctional areas of the business, such as finance, should beinvolved in Spend Analysis efforts and justify the rationale foryour choices.

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The process by which various goals can possibly be achieved with the aid of inspecting transforming modeling and maintaining a given data set is normally referred to as data analysis Currently it is clear that the process has helped a number of organizations and even in spends analysis It is important to point out that not all data that is presented to an organization is crucial and important for making strategic decisions This data is basically raw in its current form and does not make any sense at all For this data to be useful to the organization analytical skills must be put into place to rearrange the data in a form that is easily understandable to both the skilled analyst and the normal user The different data analysis skills help one to identify the meaningful information and also understand the different patterns of the data Data analysis also allows for the analyst to determine the consistencies and irregularities that may be possibly existent in the data so that he is able to make decisions that are sound and credible For one to be able to assist the internal clients of an organization in a much better way on how to plan their sending strategies he must be able to understand the suppliers cost proposals Data analysis is important because it provides the information needed unlike the automatically generated results This makes the data more meaningful and See Answer

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