Data, Statistics, and Decisions in Business
You have been recently employed as the director of operations of a hotel. The hotel is in a relatively large city with many other comparable hotels in its vicinity. As part of your job, your responsibilities include:
- Establishing a sound data and information infrastructure to support ongoing hotel operations.
- Determining what data you should collect on an ongoing basis and how you should use that data to make effective decisions aimed at balancing high occupancy with high per-room profitability
- Determining what information you will need to be able to effectively market your hotel
- Establishing a basic monthly reporting infrastructure that will enable you to keep track of the key performance metrics
Create a Microsoft Word document listing three different operational functions for your hotel. Examples of hotel functions include setting daily room rates, attracting events (meetings, conferences, etc.), managing hotel material, etc. For each function, specify what data you would need to help you manage the function better, how you would analyze the data (using one or more of the descriptive techniques), what type of data individual variables represent (e.g., interval), and how you would tabulate or graph the data you collected for each function. For example, to set daily room prices, you can use historical sales data to compute average daily prices, a measure of dispersion to estimate up-and-down volatility, and histograms to graphically illustrate occupancy rates associated with different price levels.
Your description of each of the three operational functions should include a clear specification of the function (e.g., setting daily room prices), a description of the data source (e.g., historical sales data), the data type, a specific descriptive technique to convert data into information pertinent to each function, and a description of tabular and graphical results, including examples generated using a Microsoft Excel spreadsheet.
Submit your 3- to 4-page Microsoft Word document to this Discussion Area by Week 1, Day 4.
Name your document SU_MBA5008_W1_A3_LastName_FirstInitial.doc.
By the end of the week, use this Discussion Area to critique the answers posted by at least two of your peers. Post comments discussing the following:
- Did the response cover a diverse spectrum of operational functions, or was it narrowly focused? The broader the spectrum of operational functions covered, the clearer it is that the respondent has a good command of the subject matter.
- Is the answer technically accurate? Are the individual functions, data type, statistical technique, and business insight correct?
Cite any sources using the APA format on a separate page.
|Assignment 3 Grading Criteria
|Described three operational functions, including a clear specification of each function.
|Described the data source, data type, and specific descriptive technique to be used to convert data into information pertinent to each function.
|Described the tabular and graphical result presentation, including examples generated using a Microsoft Excel spreadsheet.
|Participated in the discussion by asking a question, providing a statement of clarification, providing a point of view with rationale, challenging a point of discussion, or making a relationship between one or more points of the discussion as well as responding to at least two other posts.
|Presented a structured document free of spelling and grammatical errors.
|Properly cited sources using the APA format.