Data Analytics for Managerial Decision Making

Develop Data-Driven Approaches to Managerial Decisions

Designed for managers with limited exposure to analytics, this one-day session describes, at a managerial level, the use of descriptive, predictive and prescriptive analytics to solve business problems, improve organizational decision making and develop opportunities for growth.

Takeaways

• Learn how analytics can generate new business insights and opportunities
• Discover the power of analytics to improve organizational execution, productivity and results
• Identify challenges in developing analytics strategies
• See how analytics can mitigate risk, uncertainty and process variability
• Understand how your organization can reap the benefits offered by business analytics
• Consider the right way to put analytics to work

Course Content

• How analytics is transforming organizational decision making and innovation, pitfalls and payoffs for business
• Descriptive analytics: understanding what data to collect and what it is telling you, data visualization techniques to envision important factors and relationships, quantifying your data, data variability, dealing with limited data
• Predictive analytics: foreseeing what is likely to occur based on what has happened in the past, mining your data to predict customer demand and preferences, strategies and tactics for deploying predictive analytics initiatives
• Prescriptive analytics: understanding your data to make better decisions, “what if” scenario analysis, minimizing pitfalls such as process variability and the “flaw of averages”, outcome optimization
• Best-in-practice analytics methods: analytics best practices, implementation challenges, getting started with analytics methods that can be applied to your organization

Special Features

You will gain hands-on experience with the real-world capabilities of business analytics using easy-to-apply Excel examples.