1-2 Submission_Final Project Milestone One
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1-2 Submission: Final Project Milestone One
Tamika Robinson
DAT-2110: Foundation of Data Analytics
Leonardo Flores
November 3, 2023
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Situation Analysis
Running for Glory (RfG) has opportunities to modernize and be more personable to
customers. As technology advances, some companies will use it to gather customer information
to grow and expand, while companies like RfG, if they do not choose to adopt, will fall behind
(Harel et al., 2021). With the current technology they possess, the company is unable to gather
the necessary customer information to aid with developing strategies to expand. RfG is forced to
rely on instincts alone without possessing consumer demographics, which could result in
negative impacts or poor decision-making. Additionally, the focus on the running trade has
faltered, and many stores have brought in other sporting products. We are unsure if this is
necessary to keep up with the competitors, as there has yet to be data analyzed to determine so.
However, steps must be taken to develop the necessary strategies to modernize RfG's
infrastructure to help ensure company growth.
Problem Identification
The overall challenge is that RfG needs more ability to recover statistical customer
information because they have yet to adapt or keep up with technology. RfG utilizes traditional
cash registers that only store minimal data locally and require a manual process for reporting. No
data is being captured to help optimize business strategies, streamline workflows, or minimize
errors. The other issue is that RfG must manage its inventory records with the help of its
suppliers. According to a survey by The Economist Intelligence Unit (EIU), North American and
EU firms say a yearly decline in revenue of 7%-9% because of failure to manage their inventory
(Szwed, 2023). A growing company must be able to manage its inventory without relying on its
suppliers. Insufficient insight can lead to overstocking, inaccurate demand planning, inconsistent
tracking, and inventory loss. RfG needs to make technology improvements to enable the ability
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to improve efficiencies, collect customer data, enhance customer experiences, gain visibility to
their vendors/suppliers, and futureproofing.
Business Processes Affected
Dated technology can hinder a business's daily operations and create additional expenses
in lower productivity, lack of customer confidence, security risks, and increased maintenance
costs to maintain older machinery past their expiration. In this digital age, what may have been
state-of-the-art eight years ago has become obsolete. A survey of U.S. businesses has reflected a
loss of up to $1.8 billion annually due to obsolete technology (Savić, 2022). Marketing is a
department dependent on the latest technology, and without it, lead sources will fall through the
cracks. A company could be marketing to people not interested in RfG or its products, resulting
in wasted costs and missing out on their key demographic. Sales chances will remain untapped
because missing data can cause an incorrect measurement of sales performance. Outdated
processes will also affect customer service. A Microsoft survey indicated that over 90% of people
surveyed would take their business to a competitor with updated technology due to concerns over
privacy, security, or user-friendly convenience (Savić, 2022). RfG not only needs to ensure they
are protecting customer information and promptly responding to the customer's needs, but with
technology limitations, they would be unable to provide information to customers proactively.
Business processes are inefficient, and failing to reform can lead to incorrectly prioritizing
business strategies and missing out on groundbreaking opportunities.
Conclusion
For RfG to analyze trends in customer demographics, develop strategic expansion plans,
or engage in serious discussions with its suppliers concerning the viability of sourcing new
products or eliminating any existing ones, it will need to modernize. It will benefit RfG to
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modernize its equipment and business practices. Aside from the fact that it will bring value to the
company's bottom line, modernization will help improve security, strengthen systems against
theft or data loss, and optimize internal communications. It will create efficiencies, help them
better service their customers, and lead to strengthening their customer base that is vested in
what they do.
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References
Harel, R., Schwartz, D., & Kaufmann, D. (2021). Organizational culture processes for promoting
innovation in small businesses. EuroMed Journal of Business, 16(2), 218–240.
https://doi-org.ezproxy.snhu.edu/10.1108/EMJB-03-2020-0027
Savić, D. (2022). The Impact of Digital Transformation on the Sustainability of Grey Literature.
Grey Journal (TGJ), 18(1), 7–11. https://doi-org.ezproxy.snhu.edu/10.26069/greynet-
2022-000.470-gg
Szwed, D. (2022, October 11).
Inventory Management Challenges in 2023.
https://www.mechanicalpower.net/blog/inventory-management/inventory-management-
challenges-in-2023/