Using Data for Business Strategy and Decisions

With the amount of data expanding daily, it’s imperative that you understand data and statistics in order to improve projects and operational performance for your business or organization.

Learn about and discuss the essentials of statistics, big data applications and analysis that are vital to making sound business decisions. Explore application examples and a case study. Examine information about scorecards and dashboards.

Topics covered include:

  • Essentials of Data: Bad data = bad decisions, structured data, information needs, communicating with data scientists
  • Analyzing Data: Statistical basics and probability, descriptive statistics, inferential statistics, cluster analysis, predictive analysis, statistical conclusions
  • Making Business Decisions: Application examples, case studies, building your operational data analytics strategy, measuring and monitoring performance, understanding variation as a management tool, scorecards and dashboards.

Instructor

Joe  Brancaccio

Joe Brancaccio

Joe Brancaccio is a Process Management Consultant. He has more than 20 years of experience in process management, strategic planning, organizational effectiveness and leadership. Mr. Brancaccio has worked with many Fortune 500 companies and assisted the States of Texas and ... read more

Who Should Attend

  • Business Analysts
  • Systems Analysts
  • Project Managers
  • Business Team Leaders
  • Program Managers
  • Supervisors of Business Analysts/Project Managers

Benefits and Learning Outcomes

  • Understand bad data and how it leads to bad decisions
  • Communicate your needs to data scientists and architects
  • Understand descriptive statistics, inferential statistics, predictive analytics and converting statistical conclusions to business decisions

Course Outline/Topics

Seminar Outline

I. Introduction and Overview

  • What are Business Analytics?
  • Key Questions
  • Support Structure for Success – Strategy, People, Processes, Systems
  • Results – What can be achieved?

II. Essentials of Data

  • Bad data = bad decisions; how to get “the right stuff”
  • Data collection principles
  • Avoiding data overload – Differentiating “nice to know” from “need to know”
  • Communicating with data scientists
  • Data deception – Manipulation and misinterpretation of averages, percentages, rankings and other basic stats

III. Analyzing Data

  • Probability – can we predict the future?
  • Types of stats – Understand what has happened (descriptive) versus making estimates about what will happen (inferential)
  • Predictive Analytics
  • Understanding variation as a management tool
  • Pitfalls of using histograms / bar graphs
  • Trend / control charts
  • Regression analysis – when and when not to use it
  • Finding patterns in data – cluster analysis, stratification and dis-aggregation
  • Decision Trees
  • Is it all about the data?
  • The role of intuition
  • Understanding your business

IV. Making Business Decisions

  • Converting statistical conclusions to business decisions
  • Case studies from various industries
  • Scorecards and dashboards
  • Application workshops

V. Transforming Classroom to Reality

  • Building your operational data analytics strategy
  • Barriers to success
  • Parting thoughts

Notes

This course qualifies you to earn Professional Development Units with the Project Management Institute (PMI). Please contact us to learn how many Professional Development Units you can earn for each PMI credential.

Credit Notes

14 CDUs, 14 PDUs, 1.4 CEUs

Testimonials

"The instructor was very knowledgeable and encouraged class participation."  —  Gustav Petersson, class participant

All sessions are Face-to-Face unless otherwise noted.

Thu.-Fri., Sept. 21-22

8:30am-4:30pm

Location: UWM School of Continuing Education

Instructor: Joe Brancaccio

Fee: $845

CEUs: 1.4, PDUs: 14

Enrollment Limit: 24

Program Number: 5025-10252

Registration Deadline: Thu., Sept. 21

Register Now

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