Statistics Methods in Management Decision Making

Statistics Methods in Management Decision Making

Aim of the training:

In today’s uncertain economic climate, professionals need to ensure that their business decisions are based on accurate factual analysis. This introductory training, removes the mystery of statistics so that you can analyze your data with clarity and accuracy. By evaluating data, using proven business statistical tools and techniques, you learn to make evidence-based business decisions effective. The training is geared to persons interested in improving their decision-making process, including executives, project managers and business analysts. Experience with Excel at a beginner level is assumed. Prior knowledge, in statistics or data analysis, is not required.

Content of the training:

 

  • Introduction to Statistical Methods
  • Managing Decisions in Uncertain Situations
  • Evaluation of possible outcomes
  • Planning a business strategy using decision-making tables
  • Benefit from competitive advantage
  • Supporting decisions with valuable data
  • Effective use of measuring techniques
  • Protection of decisions
  • Benefit from the power of distributions
  • Push your decision through statistical tests
  • Making a decision informed by the sub-groups
  • Verification of the decision
  • Evaluating performance improvements
  • Answering business questions through surveys
  • Collecting meaningful data
  • Maximizing the integrity of your data
  • Through probability-based samples
  • Avoiding common sampling errors
  • Provide solid data
  • Know trends with powerful forecasting techniques
  • Evaluating the model that best predicts your data
  • Business development forecast
  • Refine your forecast
  • Presenting accurate data and conclusions
  • Accurate localization of statistical fluctuations
  • Preparing results for presentations

At the end of the training you will be able to:

  • Support the decisions you make in business through proven statistical techniques
  • Manage contingencies and risks to improve business strategies
  • Optimize your decisions by applying measurement and data testing
  • Apply research techniques to evaluate data efficiently
  • Prepare the organization for future trend changes through statistical forecasting methods
  • Present information accurately and clearly

 

Duration: 16 hours