As part of the group project assignment, we will in groups (not exceeding three members) study and improve upon a decision in our organizations using what we have learnt in our data mining course.
The project is inspired be the decision making view of organizations – i.e. organizations are a setting in which 100s of decisions (big and small) are made everyday.
These decisions are based on both empirical(fact based) as well as normative(values, morality based). Further, the decisions are affected by several cognitive biases and flawed rationality. Our objective is to pick one decision in our organization, study the AS-IS decision making process and then propose a TO-BE decision making process.
You are free to take any approach that you decide as a group. However, you should have an element of bringing in data as an aid for decision making.
The expected deliverables for this project are:
1. Do a decision audit/inventory
a. What are the decisions being made in your organizational unit that you are aware of.
b. What is the business value of each of these decisions.
c. Rank order the decisions in order of their importance.
d. Identify a decision for which
i. you have sufficient knowledge about
ii. you have the possibility of getting sufficient data to improve the decision making process (Note: you only need to share the data with the class to the extent that you feel comfortable)
2. Define the AS-IS decision making process
a. Describe the decision
b. Business value of the decision
c. Stakeholders of the decision
i. Organization players
ii. External players
d. Decision makers
i. Who all is involved in decision making
e. Inputs to decision making:
f. Decision making process
i. Describe in as much detail as possible how the decision is being made AS-IS
3. Define the TO-BE decision making process
a. Describe how you will re-engineer the decision making process.
b. Describe the role of data/information in this TO-BE process.
4. Create a business value presentation for your management.
a. Quantify the business value of moving to your proposed TO-BE decision making process.
5. In Depth description of plan of action for the data mining component
a. Data Acquisition
b. Data Analysis
c. Data Presentation
d. Interpretation and Insights
e. How does this help the decision making
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