Difference between revisions of "ANLY482 AY2017-18T2 Group18/Project Overview"

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| style="font-size:120%;  text-align:center;background-color:#ffffff; width=12%" | [[ANLY482_AY2017-18T2_Group18/About_Us|<font face = "Century Gothic" color="#000000">About Us</font>]]
 
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From a business point of view, we aim to shed light on the following issue. We are keen to find out what are the key factors (e.g. wages expenses) that are the key drivers of expenses incurred for each project site. Through this, we hope to provide the client with insights on the projects sites that they should continue bidding for to maximise profits. The issue can be broken down into the following questions which will assist us in providing a detailed analysis for the client.
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Knowing the high level of importance of cost estimation in LS 2’s present business model, the team aims to develop a more structured and reliable cost estimation model based on past data. From a business point of view, we are keen to find out what are the key drivers of cost incurred for each project site type. Through this, we hope to assist the client in the decision to bid for a project site after they obtain details regarding it. Following are our analytical objectives in detail.
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*To understand expense patterns
  
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*What are the most profitable project sites and the trend of the profit over the years?
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*To identify key attributes of project sites
  
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*What are the project sites that are less profitable/making losses and whether our client should continue to bid for the sites in the upcoming years?
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*To discover relationship between project site characteristics and expenses incurred
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*What are some possible reasons for the project sites mentioned above to be making losses?
 
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*What is the best way to allocate resources for a prospective project site (depending on service rendered)
 
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These would help in the building of a model for the client, which will aid them in deciding whether to bid for a project by predicting the expenses that will be incurred. To achieve the business objective as mentioned above, our analytical objectives are as follows:
 
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*To separate the different project sites into different categories of cleaning activities and use analytical methods to discover relationship (and identify key variables) between project site characteristics and expenses incurred
 
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*To find the main factors that are driving the expenses for the different cleaning services
 
  
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*To introduce a cost estimation model that can complement the management in deciding the bid amount
 
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Latest revision as of 20:57, 12 April 2018

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Home About Us Project Overview Project Findings Project Management Documentation ANLY482 Homepage

 


Our Motivation

Jonathan: Currently, big data is the most happening thing in the market. Its application varies form profiling customer based on what they buy to using it to solve crimes. As someone who is intending to pursue a career path in this field, this project will no doubt be very useful to me as I will be able to apply what I have learnt so far in a real-world scenario. This will provide me with insights on how through the analysis of past data, I am able to influence a company’s current and future performance.

Soma: I am excited that the analytics practicum gives me the opportunity to put into practice analytical methods and techniques that I have learnt and concurrently studying, to a real-world business. Such supervised practical application will provide me with a first-hand experience on the increasing use of data analytics to discover business issues and to drive business strategy in an organisation. Since I have a strong inclination towards pursuing a career path related to this field, I want to understand the field of application for data analytics in helping companies solve real world challenges.

Yea Ram: After I have decided on talking up the Data Analytics second major, the past two years of taking related modules and seeing the needs of the skills that I learnt through them in the industry during my internship have been an amazing journey. As I am about to embark on a career related to Data Analytics upon graduation, I am beyond excited to have a sneak preview of my future work with my trusted friends and under the guidance of the school. I wanted to take Analytics Practicum in my last semester as this is a tremendous learning opportunity for me to recap and apply all that I have learnt in both my Accounting and Data Analytics modules. I am ready to make mistakes, listen to advice and to learn from them ultimately.


Project Objectives

Knowing the high level of importance of cost estimation in LS 2’s present business model, the team aims to develop a more structured and reliable cost estimation model based on past data. From a business point of view, we are keen to find out what are the key drivers of cost incurred for each project site type. Through this, we hope to assist the client in the decision to bid for a project site after they obtain details regarding it. Following are our analytical objectives in detail.

  • To understand expense patterns
  • To identify key attributes of project sites
  • To discover relationship between project site characteristics and expenses incurred
  • To introduce a cost estimation model that can complement the management in deciding the bid amount

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