Team C was tasked with researching and analyzing several examples of the effective use of statistics and research methods in solving business related problems. The team collectively researched several examples that demonstrated an effective use of statistics in solving business related problems. Examples included the human factor and ergonomic issues related to night shift work, methods of paying out payroll, effectively measuring the impact of a technical process improvement within an aerospace company, and finally the impact of processing customer information more rapidly and more efficiently in the airline industry to improve the ability to increase the situational awareness within the industry and improve customer service and company profits. After critical thought was given to each business related problem, Team C decided to focus on the use of statistics and research methods in solving the aforementioned problem within the airline industry. Continental Airlines, which recently implemented a speech analytic technology improvement within its Reservation Call Centers, provided Team C a perfect case study in which to analyze the effective use of statistics in solving business related problems.
Importance of Business Problem in the Airline Industry
The airlines today are constantly faced with having to adapt business decision-making strategies to a very complex and dynamic business environment. Decision makers that can effectively and efficiently collect and analyze the most relevant and reliable consumer data relating to industry trends and activities within the industry can improve on the qualitative and quantitative inferences which can be made from statistical data. Improving the situational awareness of industry trends and activities, in as timely a manner as possible, can help an airline realize improvements in customer service satisfaction and increase company profits. The costs of not giving critical thought to this business related problem could cost an airline in profits, potential growth opportunities...