Data Analysis Fundamentals: a Hands-on Workshop

Make smarter business decisions using these powerful data analysis methods.

Are you tired of being under constant pressure to make the right number-based decisions for your organization? Are you too often overwhelmed by an out-of-control flood of data, much of it conflicting and confusing? Designed for those who have a basic familiarity with MS Excel and want to develop their ability to solve problems effectively and efficiently, this course goes beyond the qualitative side of data analysis to explore proven quantitative tools and methods for analyzing, interpreting, and utilizing data, so that more informed and reliable business decisions can be made. Take this chance to add value to your organization by increasing your productivity in handling all the information and reports that pile up in the inbox every day—and lose the angst that goes with it!

How You Will Benefit

• Learn the best practices for organizing, summarizing and interpreting quantitative data
• Create a repeatable process for analyzing your data
• Bring out patterns in data that were not apparent at first glance
• Identify and apply tools for data analysis
• Shorten the time between analysis and action to avoid “analysis paralysis”
• Recognize the value of using data to address business questions and inform decision-making

What You Will Cover

• Recognizing the context and the need for information
• Using the Data as a Strategic Model (DASA) as a framing tool when approaching data analysis
  
• Framing the right questions to ensure the best results
• Collecting and organizing the “right” data for the questions being posed
• Selecting the right tools and techniques to analyze the data
• Identifying the relevancy of the data you can access
• Interpreting and translating data into actionable insights
• Applying analytical tools to your business questions

Outline

Introduction

• Recognize the Value of Using Data to Answer Questions and Address Business Issues
• Explain How Data Has Become the Strategic Business Asset It Is Today
• Describe the Data as a Strategic Asset (DASA) Model and How to Apply It

Framing Questions

• Describe the Value of Using Data to Answer Business Questions and to Address Business Issues
• Explain How to Identify Relevant Business Questions and Issues

Finding Data

• Discover Usable Data: Its Source, Type, Value, Quality, Location, and Relationships
• Profile the Data to Determine What Is Important or Relevant
• Organize and Manage Data Appropriately
• Acquire Data from Any Source

Shaping the Data Table

• Identify and Resolve Problems Associated with Data Collection
• Articulate the Pros and Cons of Data Manipulation
• Determine If Data Samples Are Adequate
• Create a Table That Is Ready to Be Analyzed

Analyzing the Data

• Understand Which Data-Analysis Tools Best Answer Common Analytical Business Questions
• Articulate How the Microsoft® Excel Analysis ToolPak and Other Programs Can Be Used for Advanced Data Analysis
• Choose the Appropriate Tool and Technique to Analyze Your Data
• Apply Analytical Tools to Answer Business Questions You Are Facing at Work

Applying the Results

• Create Appropriate Business Rules to Take Advantage of Your Data-Driven Insights