Strategic Business Analytics Masterclass.
Course overview.
STRATEGIC BUSINESS ANALYTICS MASTERCLASS TRAINING MALAYSIAIn today’s digital economy, managers need to make decisions in the face of uncertainty. Data has become ubiquitous. And so has the potential to turn data into revenue-producing insights and actions. But how do you make that happen?
Being able to make decisions informed by data is not optional—it is essential. Organisations that make decisions based on data simply perform better. During the workshop, you will learn to develop data-driven models and analysis using statistical methods. Important tools in the business statistics toolbox are hypothesis tests, confidence intervals and regression analysis. A mastery over hypothesis tests and confidence intervals allows you to understand and measure the extent of risk and uncertainty in various business processes. Regression analysis is the engine behind a multitude of data analytics applications used for many forms of forecasting and prediction. A mastery of these techniques and tools will improve your business decision-making process.
The purpose of the course is the understanding and application of business analytics, rather than detailed mathematical derivations. The techniques are explained using easy to understand examples in MS Excel.
Key takeaways.
STRATEGIC BUSINESS ANALYTICS MASTERCLASS TRAINING MALAYSIABy the end of the course, participants will:
- Learn techniques towards a principled approach for data-driven decision-making
- Quantitative modelling of dynamic nature of decision problems using historical data
- Learn various approaches for decision-making in the face of uncertainty
- Business applications of hypothesis testing and confidence interval estimation
- Master the various calculations to constructing confidence intervals and to conduct different kinds of hypothesis tests.
Who should attend.
Business professionals in operations, management, finance, sales, marketing, information technology, supply chain logistics and human resources. This course is for any business professional who wants to learn the tools and techniques in business analytics to drive key business results.
The programme.
STRATEGIC BUSINESS ANALYTICS MASTERCLASS TRAINING MALAYSIASESSION 1Analytics
- What is analytics?
- Hypothesis-driven analytics strategy
- Ask questions:
- What is happening?
- Why is it happening?
- Propose, analyse and test hypotheses
SESSION 2Hypothesis Testing And Confidence Interval
- What is confidence interval?
- How is confidence interval constructed?
- t-distribution, t-statistic and z-statistic
- T.DIST and T.INV excel functions
- Construct confidence intervals using z-statistic and t-statistic
SESSION 3Business Applications Of Confidence Interval
- Various business applications of the confidence interval
- Use the confidence interval to calculate an appropriate sample size
- Confidence interval for a population proportion
SESSION 4Hypothesis Testing
- The logic of hypothesis testing
- The four steps for conducting a hypothesis test
- Hypothesis tests for a population mean
- Hypothesis tests for a population proportion
- Guidelines, Formulas and an Application of Hypothesis Test
- Difference between single tail hypothesis tests and two tail hypothesis tests
- Type I and Type II errors in a hypothesis and ways to reduce such errors.
SESSION 5Hypothesis Test - Differences In Mean
- Apply hypothesis tests to test the difference between two different data - difference-in-means hypothesis test
- Business applications of the three kinds of difference-in- means hypothesis test
- Excel dialog box to conduct hypothesis tests
- The equal & unequal variance assumption and the paired t-test for difference in means
SESSION 6Regression Analysis
- What is linear regression?
- Build a regression model and estimating it using Excel
- Making inferences of relationships between various variables using the estimated model
- Using the regression model to make predictions
- Errors, Residuals and R-square
SESSION 7Regression Analysis: Hypothesis Testing And Goodness Of Fit
- Hypothesis testing in a linear regression
- p-values
- ‘Goodness of Fit’ measures (R-square, adjusted R-square)
SESSION 8Regression Analysis: Dummy Variables, Multicollinearity
- Dummy variable regression (using categorical variables in a regression)
- Interpretation of coefficients and p-values in the presence of Dummy variables
- Multicollinearity in regression models and how to deal with it
SESSION 9Regression Analysis: Various Extensions
- Mean centering of variables in a regression model
- Building confidence bounds for predictions using a regression model
- Interaction effects in a regression
- Transformation of variables in a regression
- The log-log and semi-log regression models
SESSION 10Case Studies And Business Applications Of Hypothesis Testing And Regression Analysis
Throughout the workshop, participants will work through practical exercises and case studies to enhance their knowledge of the tools and techniques in business analytics to improve their strategic decision-making process.
Your trainer.
STRATEGIC BUSINESS ANALYTICS MASTERCLASS TRAINING MALAYSIAAlvin Yong is a UK-registered Fellow Chartered and Certified Accountant (FCCA). He obtained his Master of Science in Professional Accountancy (Merit) in 2017 from the University of London.
To bring.
STRATEGIC BUSINESS ANALYTICS MASTERCLASS TRAINING MALAYSIAReviews from our Malaysian clients.
STRATEGIC BUSINESS ANALYTICS MASTERCLASS TRAINING MALAYSIA“Content is very good, notes are sufficiently detailed, presentation is clear and pace is good. Alvin entertained questions calmly, clearly, and with sufficient depth. Very knowledgeable and qualified for the training subject.”
“Alvin is an excellent trainer. He led interesting, interactive and focused discussions during the workshop.”
“Alvin was well prepared, knowledgeable and easy to follow. Level of detail was where it needed to be and the documentation was very thorough. The course went quickly which was always a good sign.”
“Fantastic trainer in terms of knowledge and skills. Extremely friendly, helpful and patient.”
“Good understanding and knowledge of the subject. Attentive and responsive to participants' queries. Presented the subject very clearly.”
“The trainer is knowledgeable. He was helpful. He handled the class material well.”
“Very informative. Gave an excellent count of how-to's.”
“Alvin is a very people person. Sound knowledge in his area of expertise. He carried out the programme well.”
Related courses.
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