Course Summary
Analytics are an essential aspect to consider when it comes to making accurate and effective business decisions and maximising your operational value.
It’s important to ensure that both qualitative and quantitative data are collected from all available sources to provide a full picture before you go ahead with procedural change. This data needs to be stored and recalled using reliable and accessible systems and processes to maintain its security and integrity. It can also be used to create an element of risk mitigation or proof of concept based on previous models of change.
Exposure to extensive data insights will help to make the best management decisions with valuable research backing to generate trust and confidence from your employees, partners, and clients when deciding on strategic developments, ensuring your business moves in the right direction.
During this course, you’ll learn to:
- Be familiar with various data management systems and analytical terms.
- Make positive business decisions using data insights.
- Analyse both qualitative and quantitative data to create a clear hypothesis.
- Use different methods of adequate data collection to achieve results reflective of your target group.
- Use proven diagnostic tools to understand key areas for improvement.
- Present viable business solutions to gain trust and buy-in from employees, partners, and clients.
- Critically analyse statistical data to determine validity.
- Communicate results effectively and accessibly to others to strengthen your argument.
- Integrate statistics and analytical data into your own business model.
The course is most beneficial for leaders, managers, and data analysts who have responsibilities to communicate change based on data or provide data and analytics to support innovation within the business. It would be most suited to:
- Change Managers
- Directors
- Operations Managers
- Team Managers
- Data Analysts
- HR Managers
- Finance Managers
This course uses real-life data and case studies throughout a variety of adult learning techniques to improve critical business thinking methodologies and develop an analysis-based change framework.
You will be involved in group discussions and trainer-led seminars to determine common, emerging, and trending data and its uses and evaluate a clear plan of action based on qualitative and quantitative data.
You will also experience practical role-playing activities to improve your questioning and data gathering skills and generate action plans based on data to move forward within your own organisation.
Course Content & Outline
Section 1: The Importance of Data
- The benefits of accurate data for your company.
- Assessing the accuracy of data.
- The applications of data within management.
- Applying data to practical examples.
Section 2: Systems & Terminology
- Using Microsoft Excel and its benefits.
- PowerBI and management information.
- Pivot tables and V-lookups.
- Macros and internet-based methodologies.
- Dynamic spreadsheets.
Section 3: Data Collection
- Finding the best source of data.
- Methods of data collection.
- Understanding the right sample size.
- Qualitative vs. quantitative.
- Central and non-central location measures.
Section 4: Statistics - The Basics
- Mode, median, and mean.
- Ranking data sets.
- Finding a correlation.
- Box and whisker charts.
- Histograms.
- Cumulative percentages and Pareto’s theory.
- Periodic data.
Section 5: Data Security
- Data storage and accessibility.
- Allowing individual permissions.
- Data Protection and GDPR implications.
Section 6: Problem-Solving & Critical Thinking
- The practical implications of data.
- Reviewing trending data.
- Understanding what your data means for your end-user.
- Comparing populations.
- Hypothesis testing and creation of test scenarios.
Section 7: Expected Outcomes and Predictions
- Curve fitting theory and linear progression.
- Identifying risks and pitfalls.
- Predictive data mining.
- Confidence interval estimation.
- Setting goals based on statistics.
Section 8: Sharing & Presenting Results
- The data analysis tool pack.
- Data breakdown and charts.
- Business data framework and change models.
- Presenting data in an accessible format.
- Persuasive negotiation techniques using hard data.
- Developing business relationships based on data.
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