Did you know that a staggering 15 petabytes of new data are generated every day? If you're trying to visualize this, that's equivalent to about 300 million four-drawer filing cabinets of paper. What in the world do businesses do with all of this data?
The answer may surprise you. Today's businesses are discovering new ways to collect and use data every day, which means that developing an ability to interpret data can lead to smarter decisions across just about every business dimension imaginable.
The Business Analytics course introduces quantitative methods used to analyze data and make better management decisions. We'll start by asking: “what do you do when you first encounter a dataset – and how do you make sense of it?" You'll learn how to summarize, visualize, and communicate information in a clear and concise way.
You'll learn how to use information about a sample to draw conclusions about a larger group - for example, can you audit a portion of your inventory and draw inferences about the accuracy of your digital records for your entire inventory? You'll also learn how to test whether two groups of data are really different - for example, how do you determine if customers' willingness to purchase increases if you change your website's design?
The second part of the course focuses on how managers analyze relationships among different variables. For example, how do marketing expenditures affect sales; or, what information about customers might help companies predict how many people will check into their hotels on a given day? Understanding how different types of data interact can help businesses solve problems dynamically and effectively.
Throughout the course you will receive clear guidance on how to implement these analytical techniques in Excel. Importantly, this course is not based on rote memorization of equations or facts, but focuses on honing your understanding of key concepts, your managerial judgment, and your ability to apply course concepts to real business problems.