Develop a conceptualization and verbalization stages of the logic modeling for the above situation to help these friends to take their decision.
Business Intelligence and Analytics
Abdullah, Salman, and Naser are three friends just graduated from the Business College. Three of them decided to open new business – The Best-Friend-Place (BFP). It’s gifts and greeting cards shop. There will be also a café corner in which they will service coffee, tea and some western sweets. They first have estimated the total charge for the Commercial Registration - CR and other governmental fees necessary for opening a commercial activity. Then they made an excellent estimation for their monthly profit based on an intensive forecasting analysis done on the daily number of customers. They’ve divided their customer into three categories, cards, gifts and café customers. Moreover, they’ve performed estimation for the prices of the cards, gifts and the café. Regarding their expenses, they expect to pay monthly rents for the building, electricity, the internet connection, and the telephone. In addition to the daily cost of the café, there are the monthly purchasing costs of the cards and the gifts besides the salaries of the waiters and cookers.
- Develop a conceptualization and verbalization stages of the logic modeling for the above situation to help these friends to take their decision.
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