Gain proficiency in business analytics.
Executives regularly make decisions that impact their organizations’ performance. Deciding on some actions can be instinctual or based on experience, but data is a vital component in the process for making major decisions. In this course, you’ll continue along the learning path started in BUS 631 and enhance your ability to obtain, interpret, and leverage data.
While Data-Driven Decision-Making I introduced you to the overarching concepts of research, this course focuses on using quantitative data to analyze business problems. As you become more proficient in using business analytics, you’ll also gain competency in research design. This case-study-driven course will see you identifying the basic tools needed for business analytics and the kinds of business problems that can be answered using this data. Visual interpretations of data, such as graphs, tables, and charts are important tools in conveying it to your stakeholders in a concise, broadly understandable fashion. You’ll examine the use of descriptive statistics to summarize the location, dispersion, and shape of a data set — all valuable tools in communicating data.
The use of inferential statistics challenges you to extrapolate from sample data what a given population might think or how they might act. You’ll gain an understanding of how sampling size and distribution can affect these predictions. Regression analysis is used to make predictions based on the relationships among variables. You’ll become familiar with scatter diagrams and trendlines that illustrate these variables and you’ll see how regression analysis can be an effective tool for making predictions using time-series data.
Throughout this course, you’ll focus on core topics or themes.
- Basics of Excel
- Visualization of data
- Descriptive statistics
- Patterns and the distribution of data
- Hypothesis testing, sampling, and inferential statistics
- Trendlines and regression of cross-sectional data
Throughout the course, you’ll refer to data collected by a major fast-food franchise. Using it, you’ll complete a variety of assignments in which you’ll build graphs and charts; make predictions that answer questions like “how many times will a man living in a three-person household eat fast food over the next four weeks?”; and draw conclusions regarding customer preferences.
You’ll become experienced in using quantitative data to analyze business problems in BUS 632.
- Define business analytics and give examples of how it is being used by companies to make better-informed decisions.
- Become proficient in consuming business analytics.
- Demonstrate proficiency in producing business analytics.