Difference between revisions of "ANLY482 AY2017-18T2 Group18/TeamDAcct Scope"

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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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| style="font-size:120%;  text-align:center;background-color:#F5FFFA; width=12%" | [[ANLY482_AY2017-18T2_Group18/Project_Overview|<font face = "Century Gothic" color="#000000">Project Overview</font>]]
 
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In the validation of the current work done by the previous team, we would need to break down their findings into relationship pairs that they have examined, and from there derive any missing relationships between sales and various key resources that the client invests. This serves also as a primary sensitivity test, allowing us to better focus analytical efforts into areas which appear to have greater sensitivity.
 
  
 
The steps in detail are as follow:
 
The steps in detail are as follow:
 
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'''Problem Definition:'''
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The above figure shows the scope for our study. After streamlining the business problem, we first had series of interviews with the management to understand the current process of cost-estimation. Based on the understanding of the current cost-estimation process, we identified key data sources and prepared the data. However, data preparation period took a considerably long time due to several challenges we faced. With the data prepared, we conducted exploratory data analysis to uncover insights on major cost driver components. This process deepened the understanding of the client’s business process and accounting practices. From here, we decided to focus our analysis efforts on conservancy projects due to lack of data for MOE projects which only has 3 months of data and also due to lack of standardised details of projects for Private Housekeeping projects. We then selected multiple linear regression analysis for our model based on various literature reviews as well as recommendations by the professors. We conducted the analysis in various ways to get the optimal result and to improve the explanatory power of the model for the cost incurred for each project, given the details of the project.
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To sit down with client and to discuss about business problems that need to be solved.
 
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'''Data Exploration:'''
 
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To summarize the main characteristics of a dataset.
 
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'''Data Preparation:'''
 
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To collect, prepare, clean and integrate data into a suitable form for further analysis and processing.
 
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'''Model Selection:'''
 
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To come up with models based on the type of business problems that we are dealing with.
 
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'''Model Validation:'''
 
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To verify sensitivity analyses against resource-to-sales relationships as proposed in our model.
 
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'''Model Development:'''
 
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To build the most suitable model after validation is done and to test it against data we have on hand.
 
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'''Communication of Results:'''
 
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To use information displays such as tables and charts to help communicate key messages contained in the data to the client.
 
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As agreed with our supervisor, our team has decided to divide the scope of work accordingly:
 
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'''Analysis of Invoice Detail Report:'''
 
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*Analyze sales trend over the years. Look for sales pattern and analyze data to understand what drives the sales trend.
 
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*Understand which channel contributes most to the company’s sales. Analyze the channels individually to find out what products in what therapy areas are they more likely to buy.
 
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*Find out what are the products that contributes the most to the company’s sales. Focus on these products in the later part of the analysis.
 
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'''Analysis of Customer Interactions:'''
 
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*Analyze customer interaction trends in terms of number of records and total duration of interactions.
 
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*Analyze which products are designated with the longest duration of interactions.
 
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'''Analysis of Sensitivity of Sales to Customer Interactions:'''
 
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*Compare total sales amount and duration of interactions and look for correlation.
 
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*Analyze sensitivity of sales according to different channels, therapy areas, as well as products.
 
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Latest revision as of 20:27, 13 April 2018

TeamDAcctnew.png

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

 

General Scope

The steps in detail are as follow:

Scopev1.png

The above figure shows the scope for our study. After streamlining the business problem, we first had series of interviews with the management to understand the current process of cost-estimation. Based on the understanding of the current cost-estimation process, we identified key data sources and prepared the data. However, data preparation period took a considerably long time due to several challenges we faced. With the data prepared, we conducted exploratory data analysis to uncover insights on major cost driver components. This process deepened the understanding of the client’s business process and accounting practices. From here, we decided to focus our analysis efforts on conservancy projects due to lack of data for MOE projects which only has 3 months of data and also due to lack of standardised details of projects for Private Housekeeping projects. We then selected multiple linear regression analysis for our model based on various literature reviews as well as recommendations by the professors. We conducted the analysis in various ways to get the optimal result and to improve the explanatory power of the model for the cost incurred for each project, given the details of the project.

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