Business excellence today means more than just process improvement or having a good quality program. It means having the capability and the skills to analyze various aspects of business performance and apply the appropriate actions for solution. The data to perform such analysis is more available.
Gain insight into issues involving risk, sensitivity, influence, decision making and patterns of performance. Learn new techniques including Neural nets, decision trees, semantic analysis, cyber metrics, now than at any other time in history. Coupled with the availability of data is the emergence of a variety of analytical techniques and methods designed to focus on remediation of problems, decisions or situations of Inter-est to the business. Analytic techniques have evolved to solve certain typesof business problems.
Deciding between alternatives requires some form of decision analysis while ranking risk requires a method of quantifying and then ranking the risk. Even basic 4 –box techniques require thought and insight into their meaning and Interpretation. The methods and concepts needed to make these ideas definitive are discussed in detail. In this course, you will learn how to:
- Apply basic statistical techniques to business problems and identify the appropriate solution
- Select the best statistical techniques for a particular business problem
- Use correlation approaches on time series data to identify factors that move together for prediction
- Use regression analysis for prediction and trend extrapolation of time series data such as financial and quantitative factors
- Apply decision trees to situations that require evaluation and determination of alternatives such for internal investment opportunities
- Use basic formulas to assess best use of resources to maximize volume and profits or minimize cost and resources
- Use influence diagrams to identify and quantify the factors that influence key performance and key results indicators
- Apply semantic key word ranking techniques to identify common words in customer complaints and help inquiries
- Use basic techniques for converting ‘soft’ ranking such as high, medium and low into quantitative values.