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ULMS876: James Russon owns a medium-sized lamb farm in the UK. He wants to improve the operational efficiency at his premises and streamline: Strategic Management of Business Analytics Case Study, UOL, UK

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ULMS876: James Russon owns a medium-sized lamb farm in the UK. He wants to improve the operational efficiency at his premises and streamline: Strategic Management of Business Analytics Case Study, UOL, UK

UniversityUniversity of Liverpool (UOL)
SubjectULMS876: Strategic Management of Business Analytics
  • James Russon owns a medium-sized lamb farm in the UK. He wants to improve the operational efficiency at his premises and streamline the flow of product, information, and finance thereby attaining a competitive edge against its rival farms. Select one of the data technologies taught within this module and provide in-depth analysis of how it can be employed by James to generate competitive advantages.
  • James has the monthly data of lambs sold to one of his major clients
    as listed below:

ULMS876 The Strategic Management of Business Analytics

  • Employ 6-months moving average to forecast the number of lambs to be sold in December.
  • Use exponential smoothing with alpha=0.3 and (assume the forecast for January is 21 to forecast the number of lambs sold in December.
  • Calculate the Mean Absolute percentage error for the forecasting techniques employed in (i) and (ii) and investigate, which one is more precise.

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