Tools of Data Analysis
, Business and Data
5 Business Credits
There are a number of statistical tools and techniques that are commonly used by organizations to inform decision-making.
Course Description:
Managing today can require good instincts. However, instinct is not enough to manage the huge amounts of available data and the complex variables of the business world. Statistics can help managers and leaders make sense of these complexities, back-up their assertions, and feel confident about when to take the risks and when to pump the breaks. This intermediate-level course examines statistics as a managerial tool. It also looks at common graphical representations of data and how these can be effective tools to explain situations and support persuasive arguments for a course of action.
What You’ll Learn:
- Describe how statistics are used in different settings
- Describe common problems with, and misuse of, statistics
- Identify criteria for evaluating statistics
- Explain the key fundamentals of probability and their real-world application
- Identify the fundamental concepts of descriptive statistics (populations and samples, measures of central tendency, measures of variability, measures of distribution) and their real-world application
- Select appropriate graphic methods for displaying descriptive statistics
- Explain the fundamental concepts of inferential statistics and their real-world application
- Evaluate a scenario in order to determine the appropriate statistic to use
- Apply fundamental statistics to a real-world situation
- Evaluate the appropriateness of statistics used
- Use statistics to identify the most appropriate decision alternative
- Translate statistical data into a graphical presentation based on a brief case study
Related Courses:
Tools for Strategic Alignment
, Human Resource Management
4 HR Credits
HR plays a key role in helping organizations train and retain the employees needed to achieve an organization's strategic goals.
Statistical Process Control
, Business and Data
5 Business Credits
Statistical Process Control is all about boosting quality. Quality management can not only deliver value to customers and stakeholders, it can also enable data-driven decision making that helps organizations gain a competitive advantage in the market
