This course teaches participants how to apply appropriate statistical procedures and models to answer business questions and, most importantly, effectively communicate impact to stakeholders.
Students participating in this 2-day course will learn how to:
- Decide which tool or technique to use in a given situation
- Apply data gathering and input considerations, including a conceptual groundwork of statistical reasoning
- Set up appropriate hypotheses and run analyses in Excel
- Interpret the results in context of the problem and communicate to stakeholders
- Identify and avoid key pitfalls
- Visualize and communicate the results in a fair, objective and unbiased manner
Students will leave the course able to use Excel to build statistical models that answer questions like:
- What’s the relationship between a variable and an outcome?
- If I adjust X, what will be the impact on Y? Are there natural limits I should be aware of?
- Are we meeting expectations?
- What’s coming next? Are we going up or down and by how much?
- Why are we going up or down? How impactful is each variable? (in other words, what should I focus on first?)
- Are there any unusual outliers? What caused those? Do I need to do something about this?
- How likely is any given idea or decision or campaign to be successful?
- Did any given change or decision make a material business impact?
Section I: Background Information
Section II: Analysis Fundamentals
Section III: Predictive Models