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Statistics Fundamentals for Business Analytics

Yuval Erez

This course introduces the basic tools and methods of statistical analysis, which can be applied to a wide variety of situations and data encountered in the areas of business and economics. Topics discussed include descriptive statistics, probability, sampling distributions, estimation, and hypothesis testing. By the end of the semester students should be able to compute and interpret basic descriptive statistical measures, understand the basic concepts of probability, and apply techniques of statistical inference.

What you'll learn

By the end of the semester students should be able to compute and interpret basic descriptive statistical measures, understand the basic concepts of probability, and apply techniques of statistical inference.

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Good to know

Know what's good

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Taught by Yuval Erez, who are recognized for their work in business and economics

Develops basic descriptive statistical measures, sampling distributions, estimation, and hypothesis testing, which are core skills for Economics and Business

Introduces statistical analysis which is highly relevant to economics and business

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Career center

Learners who complete Statistics Fundamentals for Business Analytics will develop knowledge and skills that may be useful to these careers:

Statistician

Statisticians collect, analyze, and interpret data to provide insights and solve problems. This course can serve as a fundamental building block for a career as a Statistician. Topics such as descriptive statistics, probability, and hypothesis testing provide a strong foundation for understanding statistical principles and methodologies.

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Data Scientist

Data Scientists use statistical and machine learning techniques to extract insights from data. This course can provide a foundational understanding of statistical concepts essential for Data Scientists. Topics such as descriptive statistics, probability, and hypothesis testing can help them effectively analyze and interpret complex datasets.

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Machine Learning Engineer

Machine Learning Engineers design and implement machine learning models. This course can provide a solid foundation for aspiring Machine Learning Engineers. Topics such as probability, sampling distributions, and hypothesis testing can help them understand the statistical principles underlying machine learning algorithms and improve model performance.

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Biostatistician

Biostatisticians apply statistical methods to medical and health-related data. This course can provide a valuable foundation for aspiring Biostatisticians. The course's focus on topics such as descriptive statistics, probability, and hypothesis testing can help them understand and analyze complex health-related data.

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Data Analyst

Data Analysts collect, clean, and analyze data to help businesses make informed decisions. This course can provide the foundational knowledge needed to excel as a Data Analyst. Topics such as descriptive statistics, probability, sampling distributions, estimation, and hypothesis testing provide a solid base for understanding and working with data effectively.

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Business Analyst

Business Analysts use data and statistical techniques to identify and solve business problems. This course can be a useful step towards a career in Business Analysis. Concepts in descriptive statistics, probability, and hypothesis testing can help Business Analysts make data-driven recommendations and improve business outcomes.

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Quantitative Analyst

Quantitative Analysts use statistical and mathematical models to analyze financial data and make investment decisions. This course can provide a strong foundation for a successful career as a Quantitative Analyst. Concepts such as probability, sampling distributions, and hypothesis testing are essential for understanding and applying quantitative analysis techniques.

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Market Research Analyst

Market Research Analysts collect and analyze market data to understand consumer behavior and trends. This course can provide a foundation for a successful career as a Market Research Analyst. Topics such as descriptive statistics, probability, and sampling distributions can help analysts design and conduct effective market research studies.

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Risk Analyst

Risk Analysts identify, assess, and manage risks faced by organizations. This course can provide a valuable foundation for a career as a Risk Analyst. Concepts such as probability, sampling distributions, and hypothesis testing are crucial for understanding and quantifying risk.

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Statistical Analyst

Statistical Analysts use mathematical and statistical techniques to collect, analyze, interpret, and present data. This course can be a useful tool for aspiring Statistical Analysts. A background in descriptive statistics, probability, and hypothesis testing can help analysts work with various forms of data. An understanding of these concepts can also help them use techniques of statistical inference and interpret complex datasets.

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Financial Analyst

Financial Analysts use statistical techniques to evaluate investments and make financial recommendations. This course can provide a foundation for a rewarding career as a Financial Analyst. A strong understanding of probability, sampling distributions, and hypothesis testing can help analysts assess risk and make sound investment decisions.

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Actuary

Actuaries use statistical and mathematical methods to assess and manage risk. This course can be a useful stepping stone for aspiring Actuaries. Topics covered, such as probability, sampling distributions, and hypothesis testing, provide a solid base for understanding actuarial concepts and methodologies.

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Epidemiologist

Epidemiologists investigate the causes and patterns of health and disease in populations. This course can provide a helpful foundation for aspiring Epidemiologists. Topics such as descriptive statistics, probability, and sampling distributions can enhance their ability to design and conduct epidemiological studies and analyze health-related data.

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Operations Research Analyst

Operations Research Analysts use statistical and mathematical techniques to improve operational efficiency. This course can provide a helpful foundation for a career as an Operations Research Analyst. The course's focus on topics such as descriptive statistics, probability, and hypothesis testing can equip analysts with problem-solving skills and data analysis expertise.

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Software Engineer

Software Engineers design, develop, and maintain software applications. While not directly related to the field of Statistics, this course can provide a helpful foundation for Software Engineers who work with data-intensive applications. Topics such as descriptive statistics, probability, and sampling distributions can enhance their ability to understand and analyze data.

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Reading list

We've selected 16 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Statistics Fundamentals for Business Analytics.

Probability and Statistical Inference