Making Numbers Matter: Data Analysis in Business
10 August 2016
Level 3 / 88 William Street
Perth, WA 6000
A Quantitative Methods Guide for the Non-Statistician
People refer to statistics far more than they realise – do these scenarios sound familiar?
“I always put one hand on my ear and the other on my derriere when I play Heads and Tails at quiz nights.”
“I’ll wait until Wednesday to fill up the tank – petrol’s usually cheaper then.”
“My money says there’s a 95 per cent chance Integral Development shares will increase by month’s end.”
“Picking the first three horses in a 12-horse race has got to be easier than selecting six numbers from 45 in Lotto.” (Travel writer and former teacher Roger Jones said: “I think of lotteries as a tax on the mathematically challenged.”)
Placed in the above contexts – and ignoring Mr Jones’ harsh assessment – statistics sounds like fun, doesn’t it? However, not everyone agrees. There’s a long-held perception that “statistics is sadistics”, perhaps due to negative experiences with mathematics from childhood (learning the 12-times table is not everybody’s cup of tea). Indeed, Aldous Huxley, author of 1932 classic dystopian novel Brave New World, may have been alluding to this negativity when he said: “One believes things because one has been conditioned to believe them.” But thankfully maths, stats and the latter’s contrary cousin, probability, have been “destigmatised” compared to yesteryear.
With the introduction of user-friendly software, databases and graphics, the recipe for generating meaningful statistical information is far more straightforward than it used to be. No more complicated equations and algebraic gymnastics; just open a spreadsheet, add data, mix with Excel or a similar statistical package, and you have instant output ready for consumption.
However, such is the large volume of output produced, knowing which is relevant and which is not is another matter altogether.This is the main aim of this introductory three-hour seminar – to demonstrate how to choose data relevant to business decision-making without you having to be Archimedes, Einstein, Newton and Pythagoras thrown into one.
- Meaningful ways to classify data
- Sampling methods and survey errors
- A dozen graphs to present data
- Describing datasets in terms of their average value, spread and shape
- Using statistics to predict/forecast business variables – multiple regression and time-series analysis
- Case studies applying appropriate graphs and data analysis
Benefits of Attending:
- Data Analysis in Business will show you how to:
- Select an appropriate sampling method to collect data
- Critically appraise the accuracy, sources and relevance of this data
- Choose a suitable graph to display a particular dataset
- Apply a relevant statistical measure to describe a dataset
- Use Excel and related software to assist in analysing data
- Interpret output displayed in a wide range of graphs/charts
- Use this output for effective decision-making
- Adopt a critical approach to statistics quoted in the media
Who Should Attend
- Professionals needing a statistical overview to assist in decision-making
- Managers wanting to develop/refresh statistical Excel skills, both in terms of generating and interpreting output
- Specialist staff involved in predicting/forecasting business variables
- Anyone who is interested in using statistics without being swamped by a flotilla of formulae
Pete Carter BSc, BA
Pete is a consulting statistician, market researcher, occasional journalist and published author. He was a Data Analysis lecturer in the UWA MBA program for more than a decade, receiving outstanding student evaluations and commendations for Business School teaching awards.
$395 + GST
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