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BUSINESS STATISTICS FOR MANAGERS
(Made Easy with Microsoft® Excel)
   
iNTRODUCTION :
 
“This course revolutionized the teaching of business statistics by integrating the use of MS Excel as a statistical tool for analysis and interpretation to make sound business decisions fast and easy !.”
 

Business managers in the 21st century have access to large amounts of information.  Competent managers need to scan through large amount available data and information in order to make sound business decisions.  Sorting, organizing and analyzing data becomes mere activities unless one is able to gain insights into what the data is revealing and accurately transform it into useful information for actions.  This interactive training program get you up to speed in analyzing business data and helps you to transform those data into information for crucial business decision-making.  You will be taught to use accurate Statistical techniques of data analysis and at the same time how to maximum the use of modern tool and leverage on the power used by highly successful managers to advance in today's business. This training program covers statistical usage in many business functions such as Accounting, Finance, Operations, and Marketing.  Real business scenarios are used extensively throughout the program to provide an applied context for the workings of statistics.

Unlike traditional Statistical courses that emphasize on meticulous calculations and formula, this training program smartly utilizes the popular Microsoft (MS) Excel spreadsheet techniques to accurately tabulate, calculate and present data in an easy and fast pace manner.  There is no need for searching of statistical tables or remembering formulas.  It directs your focus to more value-added tasks such as analysis of quantitative business data, interpreting business process, making sound business decisions and taking proactive actions to improve operational controls.  You will use real business case studies and computer simulations to improve your learning impact. This training program is a must for all modern managers, executives and engineers whose jobs require handling lot of data and making business and operational decisions on a daily basis


COURSE OBJECTIVES:

At the end of the course, participants will be able to:

  • Identify the overall concepts, principles and methods using Statistics for making sound business decisions.
  • Utilize MS Excel to quickly analyze data, transform it into valuable business information, and make business presentations.
  • Utilize the computer to quickly construct powerful tools for problem solving and operational controls.
  • Draw conclusions about large populations based only on information obtained from samples
  • Perform hypothesis testings
  • Perform Analysis of Variance (ANOVA) techniques.
  • Apply process control and quality improvement techniques at the workplace.

COURSE METHODOLOGY:

The following methods will be utilized to enhance the participant's learning:
  • Hands-on real business data analysis
  • Case studies, Computer simulation and data analysis exercises
  • Small Group discussions
  • Business scenarios building
course contents:


Introduction:

  • Why use Statistical method?
  • Why use MS Excel as a statistical tool?
  • Fast & easy charting and tabling techniques for better decision-making.
  • Fast & easy graphing for business presentations.

Presenting Data & Describing Information

  • Collecting and organizing data
  • Accelerated method to construct problem solving tools (charts & tables)
  • Explore new perspectives on data with pivot table.
  • Descriptive Statistics

Drawing Conclusions from populations, Based on Sample Information

  • Basic Probability & Discrete Probability Distributions
  • Normal Distribution & Sampling Distribution
  • Confidence Interval Estimation

Fundamentals of Hypothesis Testings:

  • What is and why do Hypothesis Testing?
  • One sample testing - - t-test, Z-test
  • Two-sample testing - - Z-test, F-test

Analysis of Variance (ANOVA)

  • What is and why do ANOVA?
  • One-way ANOVA
  • Two-way ANOVA

Simple Linear Regression Model and Correlation

  • Types of regression models
  • Simple Regression Model
  • Correlation coefficient
  • Exercise: Interpret the effects of Price & Advertisements on Sales

Basic Statistical Applications in Quality Improvements

  • Analyzing data with Histogram & Probability Plots
  • Basic principle of Statistical Process Control (SPC)
  • What is a control chart?
  • Using control charts to gauge and control process improvements

Exercises and Case Studies:

  • Real Business scenarios & Case studies
  • Business decision-modeling
  • Individual & group exercises
who should attend:
  • This program is a must for Project Managers, Managers, Senior Executives or Head of Department, Engineers who need to make sound statistical decisions for their businesses/ operations.

 
administrative details :
Duration : 2 days
Time : 9.00am - 5.00pm
Venue : In-house or public program
Language medium : English
 

**SPECIAL NOTE ** :

1). Participant should have prior knowledge of basic MS Excel spreadsheet skills (e.g. using formula, edit graphs, printing, etc).

2). For effective hands-on learning, laptops or computers (preloaded with MS Excel 2007 or above licensed software) must be made available for participants to work on. MS Excel working templates will also be given to equip participants for immediate transfer of training to their workplace.

 
 
Trainer :
Nelson Kok (please click here to see trainer's profile)
 
 
 

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