Training On Data Analytics For Managerial Decision Making

  • Overview

INTRODUCTION

The extra value that data analytics may provide a professional as a decision support tool in management decision making will be highlighted in this interactive Data Analytics for Managerial Decision Making training course. It will demonstrate how data analytics are used to support strategic efforts, provide insight on policy, and guide operational decision-making. The emphasis of this training program will be on using data analytics in management practice, validating the interpretation of data analytics results, and improving participants' comprehension of how to incorporate quantitative reasoning into management decision-making. Exposure to the field of data analytics will eventually encourage more assurance in the use of factual data to support managerial decisions..

COURSE OBJECTIVES

By the end of the course, participants should be able to:

  • Understand the value of data analytics as a decision support tool.
  • Describe its scope and organizational structure.
  • Apply a variety of practical data analytics.
  • Interpret statistical evidence meaningfully and critically.
  • Identify practical applications of data analytics.

DURATION

5 Days

WHO SHOULD ATTEND

This training course is suitable to a wide range of professionals but will greatly benefit:

  • 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 CONTENT

Day One: Setting the Statistical Scene in Management

  • Introduction; The quantitative landscape in management
  • Thinking statistically about applications in management (identifying KPIs)
  • The integrative elements of data analytics
  • Data: The raw material of data analytics (types, quality and data preparation)
  • Exploratory data analysis using excel (pivot tables)
  • Using summary tables and visual displays to profile sample data

Day Two: 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

Day Three: 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 Four: 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 Five: 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

GENERAL NOTES

  • Our seasoned instructors, who have years of experience as seasoned professionals in their respective fields of work, will be teaching this course. A combination of practical exercises, theory, group projects, and case studies are used to teach the course.
  • The participants receive training manuals and supplementary reading materials.
  • Participants who complete this course successfully will receive a certificate.
  • We can also create a course specifically for your organization to match your needs. To learn more, get in touch with us at training@dealsontrainers.org.
  • The training will take place at DEALSON TRAINERS IN NAIROBI, KENYA in Nairobi, Kenya.
  • The training fee includes lunch, course materials, and lodging for the training session. Upon request, we may arrange for our participants' lodging and transportation to the airport.
  • Payment must be made to our bank account before the training begins, and documentation of payment should be emailed to training@dealsontrainers.org

Course Schedule:
Dates Duration Fees Location Action