Analysis and Modelling Techniques

Question: Discuss about theAnalysis and Modelling Techniques. Answer: Most Effective Analysis and Modelling Techniques Organizations rely on the analysis and modeling techniques in the translation of business objectives into the system's operational requirements (Siau and Rossi, 2011). From experience, the most efficient analysis and modeling tools include: The use of well-documented questionnaire: surveys play an important role in allowing an organization to collect data from the targetted audience which assists the management to improve their operations towards winning a wider customer base. The use of forecasting tools such as regression analysis, simulations, and dummy variables: these techniques assist the management in the prediction of future results as expected by the company and helps in gaining competitive advantage. Creation of a control action response document that gets regularly reviewed by the technical team users. In correlation with the organizational procedures, this helps in developing an environment for creativity and hence competitive advantage. Example of How to Apply Different Modelling Techniques in Varying Situations Different modeling techniques as prior discussed can be used in various conditions by an organization. The most relevant example is making business decisions under conditions of uncertainty and risk situations. The management may apply the business time series analysis, overview forecasting, sensitivity analysis, and control charts to study the current market trends on the demand for a particular product (Siau and Rossi, 2011). In the situation whereby the need for the product in the market is irregular and not consistent, these modeling tools may be applied by the marketing team in predicting the market demand with accuracy. Experience with Use Cases Just like any other employee, one must come across various circumstances which require the use of market analysis and modeling tools and so I am. With my course of experience in the working environment, different conditions deemed uncertain, and risky have had faced my employer company (MacKenzie, Padsakoff, and Padsakoff, 2011). Being a financial analyst in the company, in many different situations the company has had some cash unaccounted for of which the management was responsible for the mess unknowingly. To find out the source of the error, the company had to employ the use of balanced scorecards concerning other forecasting and analysis tools to rectify the effect. Example of Completing a Gap Analysis There is no accurate model for conducting a gap analysis. Within the organization that I work for, we have severally completed a gap analysis in an attempt to find the right solutions to the companys challenges. For example, the company sought to invest in the foreign market. As employees, we had to complete the gap analysis to find out the existing gap between the current situation of the company domestically as well as its future expectations (MacKenzie, Padsakoff, and Padsakoff, 2011). The gap analysis revealed that, locally the company had not adequately met all customers needs and that there were still some complaints about its products and services to the consumers which needed to be addressed first before expanding the operations to the global markets. References MacKenzie, S. B., Podsakoff, P. M., Podsakoff, N. P. (2011). Construct measurement and validation procedures in MIS and behavioral research: Integrating new and existing techniques.MIS Quarterly,35(2), 293-334. Siau, K., Rossi, M. (2011). Evaluation techniques for systems analysis and design modeling methodsa review and comparative analysis.Information Systems Journal,21(3), 249-268.