Build a model that will solve the identified problem using an individual approach to apply an analytical process to effectively build a model that best fits the business problem. Use one or more of the following software applications: IBM SPSS Modeler, SPSS Statistics, Excel, Tableau, Python, or R. Create a draft outline describing your model and addressing the following: Synthesize the information from your draft outline to complete, in 750-1,000 words, the relevant components in the Methodology Approach and Model Building section of the “Capstone Template.” Business Problem: Our organization does not have a current plan in place for the amount of inventory they have on sight at any given time. Stores work off of their previous projections, but the organization has gained a large amount of business in the last 3-5 years and does not have a way currently to predict the amount of inventory required, causing frequent under and over stocking problems. Analytical Problem: Perform a demand forecast to determine what the number of items are expected to be purchased in a given month. Use linear optimization to find the ideal number of inventory items to purchase. Requirements: 750 – 1,000 words Demonstrate your application of data analysis process by specifying which models you built and indicate why this best addresses the business problem. What variables did you include or leave out and why? Provide specific screenshots from the modeling software. Provide the raw software files that you used for this assignment. Demonstrate your application of data analysis process by specifying which models you built and indicate why this best addresses the business problem.
What variables did you include or leave out and why?
Provide specific screenshots from the modeling software.
Provide the raw software files that you used for this assignment.
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