BUSINESS STATISTICS FOR DATA ANALYSTS

DECIPHER THE LANGUAGE OF DATA BY HARNESSING STATISTICAL COMPETENCIES.

Craft beginner level expertise in analyzing and interpreting data for sound business decision making

The aim of this module is to give students an introduction in key statistical techniques required to analyze effectively business data and data relevant for business.

Once the data is collected, statistical analysis can be used for many things in your business. Some include:

• Summarizing and presenting the data in a graph or chart to present key findings

• Discovering crucial measures within the data, like the mean

• Calculating if the data is slightly clustered or spread out, which also determines similarities

• Making future predictions based on past behavior

• Testing a hypothesis from an experiment

There are several ways that businesses can use statistical analysis to their advantage. Some of these ways include identifying who on your sales staff is performing poorly, finding trends in customer data, narrowing down the top operating product lines, conducting financial audits, and getting a better understanding of how sales performance can vary in different regions of the country.

What will you Learn?

• Gain the ability to apply statistical tools to applications

• Develop critical thinking and analytic skills

• Learn data summarization and presentation

Top skills you will learn

• Generate hypothesis for a one-way analysis of variance

• Apply Chi-Square Tests and ANOVA in Business Scenarios

• Data grouping mechanisms

• Understand the fundamentals of statistics

• Perform hypothesis testing

• Master the foundations of data science, statistics, and machine learning

• Calculate correlation and covariance

• Probabilistic approaches

• Types of Probabilities

• Determine patterns or motive of the data

• Uncover anomalies in data

Ideal For

• Individuals seeking a career in Data Science, Business Intelligence, or Business Analysts.

• Professionals keen to learn Statistics and its applications in the business world.

• Beginners looking to build a strong grounding in data understanding.

• Industry professionals desirous of mastery of statistical fundamentals.