Question 3

Propose and implement how you would embark data analysis journey for evidence-based policy formulation for the future of the business entity. Provide example

ANS.

Embarking on a data analysis journey for evidence-based policy formulation is crucial for informed decision-making in the future of a business entity. Here’s a proposed approach along with an example:

1. Identify Key Business Objectives:
   • Begin by clearly defining the key business objectives that data analysis will support. For instance, if the business aims to enhance customer satisfaction, reduce operational costs, or optimize supply chain management, these objectives should guide the data analysis efforts.
2. Data Collection and Integration:
   • Gather relevant data from various sources, including customer feedback, sales records, operational logs, and market trends. Ensure data integrity and integrate different datasets for a comprehensive understanding.

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