Business decisions and statistics
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Can someone please provide some assistance with this question. It's for an MBA course and needs to be between 350 and 450 words. Recall any experience you had with business data perhaps at your work place, and how have you used it and what you used it for; and then:
Define business research, statistics, and decision models. Why are they important to business?
Please include a question for my peers. Please see attached for further information to better assist me with the question. Thank you so much in advance for all your help. I really appreciate it.
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Solution Summary
A short review of what business research, business decision models, and statistics are.
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Business research is the gathering of information and data to help business managers and owners make decisions and better manage the company. Business research includes gathering information such as customer feedback, analysis of the external and internal environments of the company, financial data, and analysis of products and competition. Business research begins with a problem or question an organization needs an answer to (Why are sales down? Where can we get more and better funding?), and gathers data through various methods including secondary data sets, interviews, finding literature on the subject.
Statistics is a process or processes in which data are presented and analyzed for ...
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