For this submission assignment, please choose a Michelin Star Restaurant in New York City from the website https://ny.eater.com/maps/michelin-starred-restaurants-nyc . You will need to visit the restaurant’s Web site to get a feel for what its business is like.
Now, imagine that you have just landed your dream job as a Business Analyst for the restaurant you chose. Your job is to provide upper management with credible statistical information to help them make sound business decisions. As the Business Analyst, your work needs to be based upon collecting data and interpreting them through appropriate formulas. You are not the company statistician, so your job is not to crunch a lot of numbers. It is much more about analyzing data and giving your recommendations to the company; however, along the way, you will crunch a few numbers as well. Your first assignment is to look at different types of data for a specific scenario that the company is facing.
The restaurant you chose (hereinafter referred to as “X” in this assignment) is known for ultra-fine dining in New York City but wants to look at expanding into the casual restaurant niche to compete with family restaurants. Before it does that, management needs to do some in-depth research to decide if expansion into this market segment is a good idea, and if so, what the menu for their new restaurant may look like. Of course, the company wants to make money, so they want to ensure that any restaurant they open will give the public an atmosphere and menu choices that are in line with today’s busy lifestyles. However, they have an impeccable reputation to uphold and they want to make sure that any new restaurant will complement and enhance their reputation, not detract from it.
Prepare a PowerPoint presentation of at least 6–8 substantive slides that addresses the following:
- List and discuss 2 qualitative attributes of the atmosphere of the new casual dining restaurant that X’s upper management might want to ask potential customers. (Think of items that the customers would want to see in the atmosphere).
- List and discuss 2 qualitative attributes of the menu choices of the restaurant that X may want to explore with potential customers.
- List and discuss 2 quantitative attributes of the menu items that management might want to measure to make sure they are providing menu items that customers want.
- List and discuss 2 quantitative attributes that the new restaurant’s chefs may be interested in when creating the menu.
- Explain the difference between a population and a sample in research.
- Discuss at least 2 populations and 2 samples that X may be interested in using for their research.
- Discuss the target market for this new restaurant venture.
- Explain how the attributes you discussed above will help ensure that this new restaurant will compliment what you see to be X’s best attributes at their fine dining location (from what you learn by researching X’s Web site and other Internet sources you find).