An admission essay that requires basic knowledge about the degree

I would like to write an admission essay for a graduate degree in business analytic. However, the essay question is little bit technical and speculative. Thus, I need to answer the following question based on the limited information that I will provide to direct your imagination or completely based on your creative thinking as long as the information provided are not deep. The question: Provide an example of a big data analysis question that motivates you to apply for the MS in Business analytic. Make sure that your answer is short, no more than 400 words, and that it includes the following FIVE components: 1) a clear and concise description of the problem, 2) why you are interested in this problem, 3) the importance of this problem from a business point of view, 4) the potential solutions for this problem, and 5) a detailed discussion of the benefits and drawbacks of the suggested solutions. A relevant issue: One issue that is relevant to my organization is the need for gaining data insights and building predicting models to predict the performance of our joint ventures and make better strategic decisions that enhance profitability (oil refineries and petrochemicals companies) The information related to each point of the essay question: 1. We want to gain an almost real time data and analytical insights and build predictive models to predict the performance of our joint ventures and make better strategic decisions that enhance profitability. We currently are poor in anticipating our performance which cause as some embarrassment, particularly with the few joint ventures that is traded at the stock market. 2. I am interested in this problem as it is one of many complex business problems that we need to solve in order to achieve our strategic goals of becoming a global energy and petrochemical company. I have been granted a scholarship from my employer to discover, from managerial perspective, how business analytics and predictive models could be supportive to our strategic change and what skills and resources we need to acquire to make strategic business decision based on data analytics and insights 3. We have initial created our joint ventures for limited strategic purpose which is satisfying the local demand for refined products without making profitability. However, as we started to offer more and more of our ownership interest in the joint ventures for public trading in the stock market, we want to move into making profitability and protect the shareholders interest. 4. (I do not know , but probably predicting models would be helpful) 5. ( I do not know, it depends on the suggested solution) Note : The information above will give you a great insights, however, point 1. The description of the problem is not specified in details, so you could choose any specific or general speculative problems form your imagination. 4 and 5 would be answered based on the problem you described briefly in 1., mostly in speculative way as the whole point is to show for the admission committee how you will approach a real world problem. Thus, do not make things complicated.