What sources did you use to gather your data, and why did you use these?
I will use annual reports and quarterly reports to pull revenue, new phone adds, churn rate, and RIS to compare the last five years to see if there is a correlation between employee turnover and key metrics. I will also be getting data from regional employees on turnover rate this year compared to prior years. I will also use portions of our pulse surveys to figure out what can be done to create a better experience for our employees.
I will also use different surveys and statistics for turnover throughout the country that talk about why employees leave a company. For example, staffing levels, communication, training, and more. (1. Apollo)
What impact will any gaps in your data have on the validity of your analysis? How will you address this?
Gaps like factoring in Covid closures, changes to job title, and employees that left for medical reasons will need to be considered in order to obtain accurate information for actual employees that have left for anything else. If I don’t address the people that left for Covid or medical, then turnover rate will be drastically higher than it should be and would cause my information to be inaccurate.
How should you organize your data so that important patterns, trends and anomalies are clearly visible?
I will break down the information year over year in tables to compare information to see trends in metrics and customer experience and to compare it to employee staffing levels.
Which analytical method (Descriptive, Predictive, or Prescriptive – see Davenport & Kim pp. 3-5) did you use to assess your data? Why did you choose this method over others?
I will be using the Predictive method to analyze the data as it takes into account facts and number from previous years. It will also, “Predict the likelihood of a phenomenon.” (2. Davenport and Kim) With information compiled from previous years, along with pulse surveys and traffic trends, a prediction of what is to come if something isn’t changed can give Verizon a leg up against the competition to reduce our turnover-rates. I chose this method over others because the descriptive method and prescriptive method have similar characteristics to the predictive method. Descriptive method analyzes data and describes it which is part of the predictive method as well. Prescriptive method creates surveys and does experiments to figure out the solution, but because I already have the pulse surveys that go through why employees may not be happy, I can create an action plan for success around the information gathered from those.
1.Apollo. July 2021. 19 Employee Retention Statistics That Will Surprise You. https://www.apollotechnical.com/employee-retention-statistics/.
2.Thomas H Davenport and Jinho Kim. 2013. Keeping Up with the Quants.
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