Possible Solutions - Hypothesis - Choose the Analytical Approach
6 important questions on Possible Solutions - Hypothesis - Choose the Analytical Approach
When designing a framework, what are the two options?
- Benchmark analysis
- Driver analysis: determine and quantify 'driving forces'
As discussed earlier, driver analysis can be done by lowering the level of abstraction, but how can benchmark analysis be achieved?
When is benchmarking particularly interesting to use?
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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The two discussed analyses, often are used to provide different types of proof, which 2 are these?
- Driver analysis: used for fundamental understanding
- Benchmarking: used for empirical proof
In terms of the fundamental understanding , what are the 3 situations in which fundamental understanding is required according to the lecturer?
- Need to comprehend the business economics
- Need to distinguish between different causes and effects
- Need to project differentiated business characteristics into the future
In terms of the benchmark approach, gathering empirical proof, when is the benchmark approach required? Again list the 3 points
- Need to get a quick top-level 'scope'
- Need to establish a value for something that cannot be accurately/unambiguously calculated
- Need to verify practical applicability of a solution or believability of a model outcome
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
