Colorado Technical University Nominal and Ordinal Data Presentation

Scenario

Big Data is everywhere and various businesses around theworld are driven by Big Data. However, while some businesses rely onBig Data for organizational decision making, this does not mean that theimplications and applications of Big Data are properly used to ensureoptimal effectiveness for the organization

For this scenario, you have been appointed as the Business Analystfor Big D Incorporated charged with providing authoritativerecommendations to the Board of Directors. As the Business Analyst, therecommendation you provide will be based upon data calculated fromstatistical appropriate formulas. Be reminded that you are not thecompany’s statistician yet the Business Analyst and thereforeresponsible for interpreting statistical data and making the appropriaterecommendations.

Big D Incorporated was offered a series of business opportunities andit is your job as the Business Analyst to provide expert insight andjustification for recommendations regarding these potential prospects.

Assignment Details

Big D Incorporated has a business opportunity to provide twodifferent types of information to a new client. As the Business Analyst,you are tasked to assess the financial feasibility of this opportunity.The new client is a retailer and looking to expand their productofferings. However, they are requesting Big D Incorporated to assist inthe decision-making process.

Prepare a presentation that addresses the following:

• Explain the difference between nominal and ordinal data.
• List 3 qualitative attributes of outdoor sporting goods thatthe client may want to ask consumers. Make sure 1 of the qualitativeattributes is nominal.
• For each ordinal attribute, assign names for the endpoints of a 5 point rating scale.
• Explain the difference between interval and ratio data.
• List 2 quantitative attributes of outdoor sporting goods that market researchers might want to measure.
• Explain the difference between a population and a sample.