Current Business Analytics Overview
This one- or two-day seminar provides an overview of the most widely used business analytics and statistical metrics and methods, the assumptions that must hold for them to return valid insights, and where they have been shown to be most applicable. The seminar includes brief overviews of the more modern computer intensive methods such as machine learning and categorization trees, a brief discussion of data visualization, and common software packages.
The participants individually conduct each step in the process using an example investigation.
Course Outline: Current Business analytics overview
Day 1 - Morning
1. A specific question or interest
2. A target population
3. Parameter of interest
4. Frame
5. Sampling plan
6. Describing data
7. Probability
8. Random variable
9. Types of random variables
10. Probability distributions
11. Well-known probability distributions
Group Lunch
Day 1 - Afternoon
12. Inference
13. Sampling Distributions
14. Confidence Interval Estimates
15. Hypothesis testing
16. Relationships between variables: Correlation
17. Relationships between variables: Linear Regression
18. Making decisions and the value of information