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2021-02-19 22:30:35
30-Day Money-Back Guarantee
Business Business Analytics & Intelligence Business Analytics

Business Analytics 101: Data Analysis for Beginners

Increase Profit, Predict Demand, Manage Inventory, Make Product Choices, Improve Operations
Highest Rated
Rating: 4.6 out of 54.6 (16 ratings)
432 students
Created by Tracey Smith, MBA, MASc, BMath, CPSM
Last updated 2/2021
English
English [Auto]
30-Day Money-Back Guarantee

What you'll learn

  • How to use data analytics to identify the challenges impacting business performance
  • How to read business data and use it for business improvement (profit, supplier delivery, customer service)
  • How to select metrics and KPIs to measure what matters to your business
  • How to apply data analysis to a variety of business problems and use the results to identify actions/decisions

Requirements

  • A willingness to learn... even if numbers have scared you in the past
  • A computer if you would like to try the hands-on activities

Description

Business owners understand the need to learn how to use data analysis to improve their businesses. But how do you do this? This course, led by a business owner with 25+ years of experience in data analysis, will be teach you how to analyze your data and understand what it's telling you. Your data speaks... are you listening to it?

This course will use data to:

  • Provide you with real-world, hands-on exercises for practice,

  • Explain why growing businesses often fail due to cash flow,

  • Determine how to use data to analyze and improve supplier performance,

  • Conduct a profitability analysis to choose which products to sell or discontinue,

  • Learn how to to predict inventory demand,

  • Decide how to prioritize your customers and what to do with this information, and

  • Learn how to select key performance indicators for your business.

Whether you're a business owner, a business leader, an executive or business analyst, you'll learn how data-driven decisions are made every day in real businesses. You'll hear why some businesses struggle without data knowledge and how they learned to use data to understand the pain points of their businesses.

You'll get to try your hand at performing your own analyses using our case study data. Our case studies have been used in university courses on "managing your business."

This is a practical analysis course that will teach you how to use data to make business decisions about products, customers, suppliers and cost reductions in order to improve the bottom line of your business.

UPDATE: Throughout the year 2021, an additional module is being added to provide simple explanation of how basic statistical tests can be used in real-world applications. Registered students will have access to new content as it is added to this bonus module. A downloadable, statistical reference sheet is also provided.

Who this course is for:

  • Busy business owners of small and medium-sized businesses whether they conduct business online or at a physical location
  • Entrepreneurs or aspiring entrepreneurs
  • Business analysts
  • Business executives or leaders

Course content

4 sections • 8 lectures • 54m total length

  • Preview04:40
  • The Cash Flow Gap
    1 question
  • Volatility and Uncertainty in Your Business: Sources of Variation
    04:25
  • Preview07:19

  • Case Study: Sally's Soaps - Delivery Times to Customers
    5 questions
  • How to Evaluate Supplier Delivery Performance
    04:47
  • Practice: Supplier Delivery Performance
    4 questions
  • How to Predict Inventory Demand
    08:56
  • Inventory Demand
    2 questions

  • How to Increase Profit With Product Rationalization
    08:10
  • Case Study: Lightning Listening - Product Profitability
    5 questions

  • How to Compare a Set of Data Measurements to a Target Value: The 1-Sample t-Test
    10:21
  • How to Compare the Variability of a Process to a Target Value
    05:25

Instructor

Tracey Smith, MBA, MASc, BMath, CPSM
Your guide to mastering the practical use of analytics
Tracey Smith, MBA, MASc, BMath, CPSM
  • 4.3 Instructor Rating
  • 365 Reviews
  • 1,531 Students
  • 3 Courses

Tracey Smith has advised companies like Adidas, Continental Tire, FedEx, Northwestern Mutual, Shape Corporation, TD Bank, Kobo, Equitable Bank, Centura Health, Aviso Wealth, and global tech companies in the field of analytics.

She has 25+ years of experience in analytics and been recognized as one of the "top 50 influencers in HR analytics" and repeatedly listed as an "expert to watch" in her field.

Tracey is the President of Numerical Insights LLC, a boutique consulting company that specializes in data analytics. She holds multiple degrees in applied mathematics, mechanical engineering and business.

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