Statistics and Problem-Solving in Business

Introduction Commercial air travel is a private-enterprise(a) manufacture that requires note concern managers to effectively collect, organize, analyze, and interpret attention and mart place statistical selective information on a continuous basis. Airlines today are incessantly confront with job problems relating to maintaining a constant situational sentience on perseverance abridges and activities. Increasing the speed of interpretation of these industry trends and activities is at the effect of many air passages corporate management strategies. Business managers in the airline industry are ever face with having to adjust to radical market dynamics and, as such, are constantly faced with adjusting pricing and negotiating strategies in commit to stay competitive. By analyzing quantifiable and soft industry statistics, in a punctual and high-octane manner, airlines can furbish up better-informed bank line decisions that will positively impact company profits. This paper will discuss these commerce related problems in the airline industry and discuss how Continental Airlines has effectively implemented research strategies which analyze quantitative and soft market statistics, in a timely way, to counter these seam challenges. As a result, the company has improved cost nest egg measures and improved company profits. Problem Description Today, business managers in the airline industry attempt to interpret quantitative and qualitative industry statistical data in an effort to make better-informed business decisions. Managers in the airline industry face in truth common business related problems.

These problems include hav! ing to maintain a constant awareness of the global and regional trends in the industry, identifying potency future market opportunities, the need for benchmarking standards of performance, the need to effectively leverage service advantages, and finally the need to adapt purchasing, planning, and negotiating strategies that are modify by consumer and market trends. Continental Airlines has recently implemented a research schema that focuses on collecting and interpreting trend and market statistical data in a timely way in an attempt to... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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