[Solution] Algorithms Also Examine Customer

[Solution] Algorithms Also Examine Customer

 

Professional Assignment #2

CLO #1 – Discuss the importance of Information Systems to society and its role in improving efficiency and effectiveness of business processes.

CLO #6 – Define the importance of Customer Relationship Management and supply chains. Describe each phase of the business analytics process.

CLO #7 – Discuss the business decisions involved in acquiring new applications. Consider the different stages of a system development life cycle.

In a 2 to 4 page, APA formatted, written report supported by at least three peer-reviewed sources, select one of the options below to address by providing in-depth analysis and details:

1. Consider the city of Barcelona, Spain, which has placed sensors in all its trash dumpsters. The sensors measure how full each dumpster is.

a. Describe a descriptive analytics application using this sensor data.

b. Describe a predictive analytics application using this sensor data.

c. Describe a prescriptive analytics application using this sensor data.

2. Consider General Electric’s latest-generation LEAP aircraft engine. Sensors in this engine measure vibration and several different temperatures (depending on the location of the sensor).

a. Describe a descriptive analytics application using this sensor data.

b. Describe a predictive analytics application using this sensor data.

c. Describe a prescriptive analytics application using this sensor data.

3. Consider Rent the Runway (RTR; www.renttherunway.com). RTR buys designer dresses wholesale and rents them over the Web, charging only a fraction of the price of the dress. When RTR merchandisers decide whether to buy a new dress, they follow a list of 40 data points, such as fabric, zippers, stitching, and shape, to determine whether the dress will hold up to the rigors of multiple rentals. The longer the lifespan, the higher the return on capital.

With every dress it rents, RTR’s analytics algorithms learn more about effective strategies to track the location of each item, forecast demand, select shipping methods, set prices, and control inventory. RTR’s algorithms also examine customer reviews to learn which dresses women are renting for certain occasions. They then forecast demand to determine whether the prepaid shipping label that goes with a dress should require the customer to return the dress overnight or whether a three-day return, which costs less, is sufficient.

a. Describe a descriptive analytics application using this sensor data.

b. Describe a predictive analytics application using this sensor data.

c. Describe a prescriptive analytics application using this sensor data

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