What Is the First Step in the Data Analytic Process

question 5

Multiple Choice

What is the first step in the data analytic process a researcher is recommended to follow?

• A) Perform a formal analysis or interpretation of one data source.
• B) Compare and contrast data sources utilizing a particular code.
• C) Select a particular code for further analysis.
• D) Draw general conclusions about what a coding strategy or arising data pattern means.

Understand the concept of the bullwhip effect and its impact on supply chains.

Analyze different supply chain strategies such as drop shipping, joint ventures, and vertical integration.

Identify techniques to mitigate issues and optimize the supply chain, including postponement and vendor-managed inventory.

Describe the components and management of supply chains.

---

Definitions:

Initial Investment

The funds allocated to start a business or a project, representing the beginning financial input.

Net Present Value

The calculation of the present value of the sum of the present values of all cash inflows and outflows expected from an investment, using a specific discount rate to value future cash flows.

Cost Savings

Reductions in expenses that contribute to increased profit margins.

Required Rate of Return

The minimum annual percentage earned that an investment must generate to avoid loss to the investor.