Business Analytics with Excel: Elementary to Advanced from Coursera

A leader in a data driven world requires the knowledge of both data-related (statistical) methods and of appropriate models to use that data. This Business Analytics class focuses on the latter: it introduces students to analytical frameworks used for decision making though Excel modeling. These include Linear and Integer Optimization, Decision Analysis, and Risk modeling. For each methodology students are first exposed to the basic mechanics, and then apply the methodology to real-world business problems using Excel.

Emphasis will be not on the "how-to" of Excel, but rather on formulating problems, translating those formulations into useful models, optimizing and/or displaying the models, and interpreting results. The course will prepare managers who are comfortable with translating trade-offs into models, understanding the output of the software, and who are appreciative of quantitative approaches to decision making.

Business analytics makes extensive use of data and modeling to drive decision making in organizations. This class focuses on introducing students to analytical frameworks used for decision making to make sense of the data, starting from the basics of Excel and working up to advanced modeling techniques.

What's inside

Syllabus

Introduction to Excel: Basics and Best Practices

The purpose of this course is to expose you to a variety of problems that can be solved using management science methods and modelled in Excel. In this course, we start from the basics of spreadsheet design and work our way up to broader mathematical optimization modelling. Many airlines, banks, and technology companies could not operate today as they do without the skills and techniques taught in this course. In this first module, we begin by introducing a relatively simple example of a mathematical model which we will use as our platform to build off of for more complicated applications later in the course. Many problems used in the video lectures come from the text Business Analytics: Data Analysis & Decision Making by Albright & Winston (Cengage Learning, 2014), ISBN 1285965523

What-If Analysis in Excel

We are now ready to introduce more complexity to our spreadsheet models. Since everyone comes from different Excel backgrounds, we will review some basic functions and features as well as more advanced techniques. This module covers more of the modelling process and includes some of the less-well known, but particularly helpful, Excel functions and tools that are available. Remember though that this course's objective is not to be a "how-to" of Excel. Instead, the focus and intent is to use these features to provide insights into real business problems.

Decision Analysis through Regression and NPV

In this module the modeling concept of estimating relationships between variables by curve fitting, or regression analysis, is used to solve realistic business problems. Different regression curves are introduced and a mathematical analysis of which curve is best to help defend the model is presented. This allows not only an understanding of the techniques of modelling but also the rational behind which model to use.

Linear Programming

In this module we introduce spreadsheet optimization, one of the most powerful and flexible methods of quantitative analysis. The specific type of optimization presented here is linear programming (LP) which is used in all types of organizations to solve a wide variety of problems. As you will see through the examples presented in this course, LP is used in problems of labor scheduling, inventory management, advertising, finance, transportation, staffing, and many others. The goal of this module is to introduce you to the basic elements of LP, the types of problems it can solve, and how to model an LP problem in excel.

Transportation and Assignment Problems

This module provides even more examples of problems that can be modeling using linear programming (LP), in particular Transportation and Assignment problems. The basic transportation problem is concerned with finding the best (usually the least cost) way to distribute the good from sources such as factories, to final destinations such as retail outlets. The assignment problem involves finding the best (usually the least cost) way to assign individuals or pieces of equipment to projects or jobs on a one-to-one basis. Using Solver, we will take advantage of the special structure of these LP problems to find the best solutions to complex business problems in an efficient way.

Integer Programming and Nonlinear Programming

This module presents yet another subset of important mathematical linear programming models that arise when some of the basic assumptions of an LP model are made more or less restrictive. For example, restricting the decision variables to be whole numbers leads to the process of Integer Programming. Restricting the decision variables to be either 0 or 1 leads to binary programming. Lastly, we will see how the skills in this course can be used to solve more complex problems that involve nonlinear models.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Develops foundational skills in data analysis using Excel

Taught by instructors from the University of North Carolina, a respected institution

Covers a range of topics from the basics of Excel to advanced modeling techniques

Provides step-by-step guidance through real-world business problems

May require additional time and effort from students with limited Excel experience

Assumes students have access to Excel software

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Business Analytics with Excel: Elementary to Advanced with these activities:

Review Grundlagen der Mathematik

Show steps

Strengthens foundational mathematical skills to enhance understanding of modeling concepts.

Browse courses on Mathematics

Show steps

Review basic algebraic operations and equations.
Recall concepts of calculus, including derivatives and integrals.
Practice solving mathematical problems related to the course material.

Review Grundlagen der Betriebswirtschaftslehre

Show steps

Refreshes understanding of basic business concepts to provide context for the course material.

Browse courses on Business

Show steps

Review key concepts of business operations, such as marketing, finance, and accounting.
Summarize different types of business models and organizational structures.
Recall fundamental principles of financial management and decision making.

Review: Business Analytics: Data Analysis & Decision Making

Show steps

Review the textbook to strengthen understanding of concepts and models introduced in this course.

View Melania on Amazon

Show steps

Read the assigned chapters of the textbook.
Summarize the key concepts and models in your own words.
Identify and define any unfamiliar terms or concepts.

Five other activities

Expand to see all activities and additional details

Show all eight activities

Organize and Review Course Content

Show steps

Improves retention and understanding by fostering active recall and synthesis of course material.

Show steps

Gather notes, assignments, quizzes, and other relevant materials.
Organize the materials based on topics or key concepts.
Review the materials regularly, focusing on connecting different concepts.
Summarize the main ideas and takeaways from each topic.

Discuss and Share Insights on Course Concepts

Show steps

Promotes collaborative learning and enables students to exchange perspectives and reinforce their understanding.

Show steps

Join or start a study group or online discussion forum.
Share your understanding of key concepts and models.
Discuss real-world examples and applications of the course material.
Respond to questions and provide feedback to other participants.

Practice Optimization Techniques with Excel Examples

Show steps

Enhances comprehension of modeling techniques by providing step-by-step examples and guidance.

Browse courses on Linear Programming

Show steps

Search for online tutorials or videos that demonstrate Excel-based optimization techniques.
Follow the instructions to practice implementing these techniques.
Analyze the results and compare them to the instructor's solutions.
Troubleshoot any errors or discrepancies and seek assistance if needed.

Solve Decision Analysis and Optimization Problems

Show steps

Reinforces problem-solving skills and deepens understanding of analytical frameworks.

Browse courses on Decision Analysis

Show steps

Find or create a collection of practice problems.
Work through the problems step-by-step, applying the techniques learned in class.
Verify your solutions and compare them to provided answers.

Build an Excel Model for a Business Problem

Show steps

Provides hands-on experience in applying modeling concepts to real-world business scenarios.

Browse courses on Modeling

Show steps

Identify a business problem that can be solved using the techniques covered in the course.
Develop a mathematical model to represent the problem.
Build an Excel spreadsheet to implement the model.
Validate the model and analyze the results to draw conclusions.

Career center

Learners who complete Business Analytics with Excel: Elementary to Advanced will develop knowledge and skills that may be useful to these careers:

Data Analyst

Data Analysts are highly skilled in analyzing data to extract meaningful insights and enable better decision-making. This course directly relates to this role as it introduces students to analytical frameworks used for decision making, including Linear and Integer Optimization, Decision Analysis, and Risk modeling. Students will also learn how to formulate problems, translate those formulations into useful models, optimize and/or display the models, and interpret results. These skills are essential for success as a Data Analyst.

See salaries and explore the career path for Data Analyst

Business Analyst

Business Analysts evaluate an organization's operations and suggest ways to improve efficiency with the use of data analysis. This Business Analytics course is directly applicable to this role as it prepares students to gather, analyze, evaluate, and present data in order to help executives make effective decisions for their company. Additionally, the course's emphasis on translating trade-offs into models and understanding the output of software will greatly benefit an individual who is interested in becoming a Business Analyst.

See salaries and explore the career path for Business Analyst

Operations Research Analyst

Operations Research Analysts use advanced analytical techniques to solve complex business problems. This course is highly relevant to this role as it provides students with a strong foundation in the principles and techniques of operations research. Students will learn how to model business problems, analyze data, and develop solutions that improve efficiency and productivity.

See salaries and explore the career path for Operations Research Analyst

Business Intelligence Analyst

Business Intelligence Analysts use data to identify trends and patterns that can help businesses make better decisions. This course is highly relevant to this role as it provides students with a strong foundation in data analysis and modeling techniques. Students will learn how to use Excel to collect, clean, and analyze data, as well as how to build predictive models. These skills are essential for a successful career as a Business Intelligence Analyst.

See salaries and explore the career path for Business Intelligence Analyst

Database Administrator

Database Administrators are responsible for maintaining and managing databases. This course is highly relevant to this role as it provides students with a strong foundation in data management and modeling techniques. Students will learn how to create, administer, and maintain databases, as well as how to optimize database performance and security. These skills are essential for a successful career as a Database Administrator.

See salaries and explore the career path for Database Administrator

Data Scientist

Data Scientists use scientific methods, processes, algorithms, and systems to extract knowledge and insights from data in various forms, both structured and unstructured. This course will benefit a Data Scientist as it introduces students to the fundamentals of data analysis and modeling. Students will learn how to use Excel to collect, clean, and analyze data, as well as how to build predictive models. These skills are essential for a successful career as a Data Scientist.

See salaries and explore the career path for Data Scientist

Quantitative Analyst

Quantitative Analysts use mathematical and statistical models to analyze financial data and make investment decisions. This course will complement the skills of a Quantitative Analyst as it provides students with a strong foundation in data analysis and modeling techniques. Students will learn how to use Excel to build financial models, analyze data, and make investment recommendations. These skills are essential for a successful career as a Quantitative Analyst.

See salaries and explore the career path for Quantitative Analyst

Statistician

Statisticians collect, analyze, interpret, and present data. This course will greatly assist a Statistician as it provides students with a strong foundation in statistical theory and methods. Students will learn how to design and conduct statistical studies, analyze data, and draw conclusions.

See salaries and explore the career path for Statistician

Financial Analyst

Financial Analysts evaluate and provide investment advice to clients. This course may be a useful complement to the skills of a Financial Analyst as it provides students with a solid understanding of financial modeling and analysis techniques. Students will learn how to use Excel to build financial models, analyze data, and make investment recommendations. These skills can enhance the abilities of a Financial Analyst.

See salaries and explore the career path for Financial Analyst

Management Consultant

Management Consultants advise businesses on how to improve their operations. This course may be a useful complement to the skills of a Management Consultant as it provides students with a solid understanding of data analysis and modeling techniques. Students will learn how to use Excel to collect, clean, and analyze data, as well as how to build predictive models. These skills can enhance the abilities of a Management Consultant.

See salaries and explore the career path for Management Consultant

Market Research Analyst

Market Research Analysts conduct research to understand consumer behavior and market trends. This course may be a helpful addition to the skills of a Market Research Analyst as it provides students with a solid understanding of data analysis and modeling techniques. Students will learn how to use Excel to collect, clean, and analyze data, as well as how to build predictive models. These skills can enhance the capabilities of a Market Research Analyst.

See salaries and explore the career path for Market Research Analyst

Product Manager

Product Managers are responsible for the development and launch of new products. This course may be useful for a Product Manager as it provides students with a strong foundation in data analysis and modeling techniques. Students will learn how to use Excel to collect, clean, and analyze data, as well as how to build predictive models. These skills can enhance the decision-making process of a Product Manager.

See salaries and explore the career path for Product Manager

Risk Manager

Risk Managers assess and manage risks within an organization. This course may be beneficial for a Risk Manager as it provides students with a solid understanding of data analysis and modeling techniques. Students will learn how to use Excel to collect, clean, and analyze data, as well as how to build predictive models. These skills can enhance the abilities of a Risk Manager.

See salaries and explore the career path for Risk Manager

Systems Analyst

Systems Analysts design, develop, and implement computer systems. This course may be helpful for a Systems Analyst as it provides students with a strong foundation in data analysis and modeling techniques. Students will learn how to use Excel to collect, clean, and analyze data, as well as how to build predictive models. These skills can enhance the abilities of a Systems Analyst.

See salaries and explore the career path for Systems Analyst

Software Developer

Software Developers design, develop, and maintain software applications. This course may be useful for a Software Developer as it provides students with a solid understanding of data structures and algorithms. Students will learn how to use Excel to solve complex programming problems. These skills can enhance the abilities of a Software Developer.

See salaries and explore the career path for Software Developer