Century National Bank Essay

1029 WordsFeb 2, 20125 Pages
Almost every adult has conducted some form of research in her or his lifetime. If a person asks those adults what the definition of research is, he or she probably gets a variety of answers. Research can be simple or complex. The textbook definition of business research is “an organized, systematic, data-based, critical, objective, scientific inquiry or investigation into a specific problem.” Team A will take a closer look into the business research process by addressing a research issue from a data set. The data set Team A chose is the Century National Bank Data Set. The information provided to us, Team A could identify a potential business opportunity by identifying the relationship between the account balances and the number of ATM transactions. The purpose of this research is to identify any relationships, and to construct products or to service to better these relationships. For example, would it be beneficial to our customers and to us, if we added deposit capabilities to our ATMS? Would this increase ATM usage and increase account balances? The main problem Team A will encounter is determining the relationships between the account balances and the number of ATM transactions. By using different scales we will try to determine the relationship between ATM usage and balances. The accuracy of our measurements is also a big concern. We have 60 accounts to analyze so our findings will be base on these 60 accounts. The reason of Team A conducting this research because we might be able to identify ways the bank, the customers can save money by providing better services, and discontinuing services that may not be beneficial. This study will also give us an opportunity to look closer into statistical data that we have not researched before. Another purpose for this research is to determine if further research may be successful into other areas. We do not want to

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