From the course: Certified Analytics Professional (CAP) Cert Prep
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Refining the problem
From the course: Certified Analytics Professional (CAP) Cert Prep
Refining the problem
- [Instructor] Framing a business problem is an iterative process. It's often necessary to refine the original business problem statement multiple times before finalizing it. Refinement naturally occurs as stakeholders get more engaged in the project and develop additional insights into what they really want. Along this refinement process, data analytics professionals should also educate their stakeholders about constraints associated with available methodologies, tools, and data. This necessary step will inform the stakeholders so that they take the constraints into account when they participate in refining the business problem statement. Apart from being analytical in nature, the constraints could also be financial and political. When it comes to the financial constraint, we already discussed why it's important to consider ROI. The result of an analysis may make a certain group of people in an organization look bad…
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