This course provides an analytical framework to help you evaluate key problems in a structured fashion and will equip you with tools to better manage the uncertainties that pervade and complicate business processes. Specifically, you will be introduced to statistics and how to summarize data and learn concepts of frequency, normal distribution, statistical studies, sampling, and confidence intervals. While you will be introduced to some of the science of what is being taught, the focus will be on applying the methodologies. This will be accomplished through the use of Excel and data sets from many different disciplines, allowing you to see the use of statistics in very diverse settings. The course will focus not only on explaining these concepts, but also understanding the meaning of the results obtained. Upon successful completion of this course, you will be able to: • Summarize large data sets in graphical, tabular, and numerical forms. • Understand the significance of proper sampling and why you can rely on sample information. • Understand why normal distribution can be used in so many settings. • Use sample information to infer about the population with a certain level of confidence about the accuracy of the estimations. • Use Excel for statistical analysis. This course is part of the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and onlinemba.illinois.edu.
This course is part of the Managerial Economics and Business Analysis Specialization
Exploring and Producing Data for Business Decision Making
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About this Course
Learner Career Outcomes
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Skills you will gain
Learner Career Outcomes
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100% online
Course 5 of 7 in the
Flexible deadlines
Beginner Level
Approx. 23 hours to complete
English
Syllabus - What you will learn from this course
Course Orientation
You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.
Module 1: Introduction and Summarizing Data
Data is all around you, but what is the data telling you? The first step in making better decisions and taking action is to get a good understanding of information you have gathered. In this module we will learn about some of the tools in statistics that help us achieve this.
Module 2: Descriptive Statistics and Probability Distributions
We all have heard the phrase that a "picture is worth a thousand words," but you certainly don’t want one of those to be "what exactly am I looking at?" So, now that you know to use "pictures" to summarize your data, let’s make those pictures easier to understand.
Module 3: Sampling and Central Limit Theorem
You are charged with analyzing a market segment for your company. You and your team have figured out what variables you need to understand; you also have an idea what factors might be influencing these variables of interest. Now you are ready to do your analysis. But, wait! Where is the data? How do you begin to get the data? In this module we will review the means by which you can begin to produce data – the concepts of sampling and Central Limit Theorem – and will help you understand how to produce "good" sample data and why sample data will work.
Module 4: Inference
You have sample data and have done the analysis – you think you can say something about the population based on your sample study. But, do you have a sense of what are the chances of you being right or wrong? How can you be surer? What else should you have considered? In this module, you will learn how to find the answers to these questions.
101 Reviews
Top reviews from Exploring and Producing Data for Business Decision Making
The separation of the concepts and Excel skills made the lessons very easy to navigate. Although I knew the concepts from a previous statistics course, the Excel skills made everything feel like new!
Very useful for beginners as well as anyone interested in learning some basics. Highly recommended for managers and people trying to figure out what insights can be obtained form data
Instructor
Fataneh Taghaboni-Dutta
Clinical Professor of Business AdministrationStart working towards your Master's degree
About University of Illinois at Urbana-Champaign
About the Managerial Economics and Business Analysis Specialization
Frequently Asked Questions
When will I have access to the lectures and assignments?
Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.
What will I get if I subscribe to this Specialization?
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
What is the refund policy?
Is financial aid available?
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