Effective Business Decisions Using Data Analysis
Effective Business Decisions Using Data Analysis
Management & Leadership
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Effective Business Decisions Using Data Analysis
INTRODUCTION Every professionals strives to make quality decisions. Quality decisions result from a careful and thorough evaluation of relevant information. Often such information is generated through statistical manipulation of data, but few professionals possess quantitative reasoning skills to meaningfully and validly interpret such statistical findings themselves or question the interpretations given by others. Effective Business Decisions Using Data Analysis Training course will feature the added value that data analytics can offer a professional as a decision support method in management decision making. It will highlight the usage of data analytics to support strategic initiatives; to inform on policy information; and to direct operational decision making. The course will emphasise applications of data analytics in management practice; focus on the valid interpretation of data analytics findings; and build a clearer understanding of how to integrate quantitative reasoning into management decision making.
OBJECTIVES At the end of the, Effective Business Decisions Using Data Analysis Training course, you will be able to : ppreciate the role of Data Analysis as a Decision Support tool Explain the scope and structure of the discipline of Statistics Understand the importance of data quality in data analysis Select an appropriate Data Analysis methodology to apply to specific management situations Apply a cross-section of Data Analysis tools and techniques Meaningful interpret statistical output to inform decision making Critically assess statistical findings with confidence Interact meaningfully and with confidence with Data Analysts Initiate with confidence in their Data Analysis projects Learn techniques to support strategic initiatives
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Effective Business Decisions Using Data Analysis
WHO SHOULD ATTEND ?
Effective Business Decisions Using Data Analysis Training course, is ideal for : Professionals in management support roles Analysts who typically encounter data / analytical information regularly in their work environment Those who seek to derive greater decision making value from data analytics
COURSE OUTLINE
Day 1
Setting the Scene and Observational Decision Making Setting the Quantitative Scene The Decision Support Role of Quantitative Methods in Management "Thinking Statistically" about Applications in Business Practice The Elements and Scope of Quantitative Management Data and the importance of Data Quality
Day 2 Evidence-based Observational Decision Making Numeric descriptors to profile numeric sample data. Central and non-central location measures. Quantifying dispersion in sample data. Examine the distribution of numeric measures (skewness and bimodal). Exploring relationships between numeric descriptors. Breakdown analysis of numeric measures.
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Effective Business Decisions Using Data Analysis
Day 3 Statistical Decision Making – Drawing Inferences from Sample Data
The foundations of statistical inference Quantifying uncertainty in data – the normal probability distribution The importance of sampling in inferential analysis Sampling methods (random-based sampling techniques) Understanding the sampling distribution concept Confidence interval estimation
Day 4 Statistical Decision Making – Drawing Inferences from Hypotheses Testing The rationale of hypotheses testing The hypothesis testing process and types of errors Single population tests (tests for a single mean) Two independent population tests of means Matched pairs test scenarios Comparing means across multiple populations
Day 5
Predictive Decision Making - Statistical Modeling and Data Mining Exploiting statistical relationships to build prediction-based models Model building using regression analysis Model building process – the rationale and evaluation of regression models Data mining overview – its evolution Descriptive data mining – applications in management Predictive (goal-directed) data mining – management applications
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Effective Business Decisions Using Data Analysis
IN-HOUSE TRAINING LPC Training is capable of conducting this training programme exclusively for your delegates. Please e-mail us on admin@lpcentre.com for further information and/or to receive a comprehensive proposal.
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Effective Business Decisions Using Data Analysis
CONTACT INFO
DOCUMENTATION High-Quality material has been prepared by the LPC team for distribution to delegates. In addition, a special note pad to facilitate note-taking will be provided.
LONDON 47 – 49 Park Royal Road NW10 7LQ, London T: +44 (0) 20 80 900 464 E: info@lpcentre.com
CERTIFICATES Accredited Certificate of completion will be issued to those who attend & successfully complete the programme.
DUBAI Office 501 Clover Bay Tower, Business Bay
SCHEDULE Our Course timings commence at 09:00 and concludeat 13:00, followed by lunch on a daily basis.
T: +971 4 421 4616
KUALA LUMPUR No. 03-06-05,
REGISTRATION & PAYMENT
UOA Business Park, Jalan Pengaturcara U1/51A,
Please complete the registration form on the course
Section U1,
page & return it to us indicating your preferred modeof
Kawasan Perindustrian Temasaya,
payment. For Further Information, please get intouch with us.
40150 Shah Alam, Selangor T: +60 19-305 5694
CANCELLATION AND REFUND POLICY Delegates have 14 days from the date of booking to cancel and receive a full refund or transfer to another date free of charge. If less than 14 days’ notice is given then we will be unable to refund or cancel the booking unless on medical grounds. For more details about the Cancellation and Refund policy, please visit www.lpcentre.com/terms-and-conditions/
TRAVEL AND TRANSPORT www.lpcentre.com We are committed to picking up and dropping off the participants from the airport to the hotel and back.
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