Exploring and Producing Data for Business Decision Making from Coursera

This course provides an analytical framework to help you evaluate key problems in a structured fashion and will equip you with tools to better manage the uncertainties that pervade and complicate business processes. Specifically, you will learn how to summarize data and learn concepts of frequency, normal distribution, statistical studies, sampling, and confidence intervals.

While you will be introduced to some of the science of what is being taught, the focus will be on applying the methodologies. This will be accomplished through the use of Excel and data sets from different disciplines, allowing you to see the use of statistics in a range of settings. The course will focus not only on explaining these concepts, but also understanding and interpreting the results obtained.

You will be able to:

• Summarize large data sets in graphical, tabular, and numerical forms

• Understand the significance of proper sampling and why one can rely on sample information

• Understand why normal distribution can be used in a wide range of settings

• Use sample information to make inferences about the population with a certain level of confidence about the accuracy of the estimations

• Use Excel for statistical analysis

This course is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.

What's inside

Syllabus

Course Orientation

You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.

Module 1: Introduction and Summarizing Data

Data is all around you, but what is the data telling you? The first step in making better decisions and taking action is to get a good understanding of information you have gathered. In this module we will learn about some of the tools in statistics that help us achieve this.

Module 2: Descriptive Statistics and Probability Distributions

We all have heard the phrase that a "picture is worth a thousand words," but you certainly don’t want one of those to be "what exactly am I looking at?" So, now that you know to use "pictures" to summarize your data, let’s make those pictures easier to understand.

Module 3: Sampling and Central Limit Theorem

You are charged with analyzing a market segment for your company. You and your team have figured out what variables you need to understand; you also have an idea what factors might be influencing these variables of interest. Now you are ready to do your analysis. But, wait! Where is the data? How do you begin to get the data? In this module we will review the means by which you can begin to produce data – the concepts of sampling and Central Limit Theorem – and will help you understand how to produce "good" sample data and why sample data will work.

Module 4: Inference

You have sample data and have done the analysis – you think you can say something about the population based on your sample study. But, do you have a sense of what are the chances of you being right or wrong? How can you be surer? What else should you have considered? In this module, you will learn how to find the answers to these questions.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Teaches complex ideas in a clear and structured way, making it suitable for beginners seeking a solid foundation

Develops employable data analysis skills and provides hands-on experience using industry-standard tools

Covers a comprehensive range of statistical concepts, providing a well-rounded understanding

Brings statistical analysis to life with real-world examples and applications

Taught by experienced instructors with industry expertise

Requires students to purchase a textbook separately

Reviews summary

Introductory data course for business

Learners say this course is a well made, introductory course on data analysis for business decision making. Students reported that the exercises in this course are not very diverse, and for this reason, they believe the course could be improved with additional diverse exercises or additional strategies like hypothesis.

Introductory course on data analysis.

"I would recommend it to anyone who wants to understant better how to analyse data."

The exercises in the course are not very diverse.

"I missed some estrategies as hypothesis and more diverse exercises."

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 Exploring and Producing Data for Business Decision Making with these activities:

Refresh Statistics

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Help refresh your statistics foundation ahead of taking this course to strengthen foundational knowledge.

Browse courses on Statistics

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Review the basic concepts of data analysis.
Practice with descriptive statistics.
Apply statistical concepts to real-world problems.

Read 'Statistical Analysis with Excel'

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Supplement your understanding of statistical analysis techniques by reading a comprehensive book that covers the topic in depth.

View Data Analytics & Visualization All-in-One For... on Amazon

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Read the book thoroughly.
Take notes and highlight important concepts.

Follow Excel Tutorials

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Enhance your Excel skills by following guided tutorials to become proficient using Excel for statistical analysis.

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Complete beginner-friendly Excel tutorials.
Practice using Excel for data analysis.

Three other activities

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Practice Data Summarization

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Solidify your understanding of data summarization by engaging in repetitive exercises and practice drills.

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Summarize data using graphical, tabular, and numerical methods.
Interpret the results of data summarization.

Create Data Analysis Presentation

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Showcase your understanding of data analysis by creating a comprehensive presentation that effectively communicates your findings.

Browse courses on Data Analysis

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Gather and analyze data relevant to a specific topic.
Develop a clear and engaging presentation.
Deliver the presentation to an audience.

Teach a Statistical Concept

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Master a statistical concept by teaching it to others, whether through a presentation, tutorial, or written article.

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Choose a statistical concept to focus on.
Develop a lesson plan or teaching materials.
Teach the concept to others.

Career center

Learners who complete Exploring and Producing Data for Business Decision Making will develop knowledge and skills that may be useful to these careers:

Data Analyst

Data Analysts collect, transform, and analyze data from various sources, including structured and unstructured data. They use this data to help businesses understand their customers, make better decisions, and improve their operations. This course can help you build a foundation in data analysis, providing you with the skills to collect, clean, and analyze data, and to communicate your findings effectively. If you are interested in a career as a Data Analyst, this course can provide you with the knowledge and skills you need to get started.

See salaries and explore the career path for Data Analyst

Statistician

Statisticians collect, analyze, and interpret data to help solve problems in a wide range of fields, including medicine, business, and government. This course can help you develop the skills you need to become a successful Statistician, including data analysis, probability, and inference.

See salaries and explore the career path for Statistician

Market Researcher

Market Researchers collect and analyze data about markets, customers, and competitors. They use this data to help businesses make informed decisions about their products, services, and marketing campaigns. This course can help you develop the skills you need to become a successful Market Researcher, including data analysis, survey design, and statistical analysis.

See salaries and explore the career path for Market Researcher

Data Scientist

Data Scientists use data to build models that can predict future events or outcomes. They work with businesses to help them make better decisions, improve their operations, and increase profits. This course can help you build a foundation in data science, providing you with the skills to collect, clean, and analyze data, and to build and evaluate models.

See salaries and explore the career path for Data Scientist

Business Analyst

Business Analysts work with businesses to improve their operations and achieve their goals. They analyze data, identify problems, and develop solutions that can help businesses save money, improve efficiency, and increase profits. This course can help you develop the skills you need to become a successful Business Analyst, including data analysis, problem-solving, and communication skills.

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Machine Learning Engineer

Machine Learning Engineers build and maintain machine learning models. They work with data scientists to develop and deploy models that can be used to solve a variety of problems, such as fraud detection, spam filtering, and image recognition. This course can help you develop the skills you need to become a successful Machine Learning Engineer, including data analysis, machine learning, and software engineering.

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Information Security Analyst

Information Security Analysts protect computer systems and networks from unauthorized access, use, disclosure, disruption, modification, or destruction. They work with organizations to develop and implement security measures that can help protect their data and systems from cyber attacks. This course can help you develop the skills you need to become a successful Information Security Analyst, including data analysis, security risk assessment, and incident response.

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Operations Research Analyst

Operations Research Analysts use data to improve the efficiency and effectiveness of organizations. They use mathematical models and statistical analysis to identify problems and develop solutions that can help organizations improve their operations, reduce costs, and increase profits. This course can help you develop the skills you need to become a successful Operations Research Analyst, including data analysis, modeling, and optimization.

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Financial Analyst

Financial Analysts use data to make recommendations on investments. They analyze financial data, such as company earnings and stock prices, to identify opportunities and risks. This course can help you develop the skills you need to become a successful Financial Analyst, including data analysis, financial modeling, and valuation.

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Risk Analyst

Risk Analysts identify, assess, and manage risks for organizations. They work with organizations to develop and implement risk management strategies that can help them avoid or mitigate risks. This course can help you develop the skills you need to become a successful Risk Analyst, including data analysis, risk assessment, and risk management.

See salaries and explore the career path for Risk Analyst

Data Engineer

Data Engineers build and maintain data pipelines and infrastructure. They work with data scientists and other data professionals to ensure that data is available, reliable, and secure. This course can help you develop the skills you need to become a successful Data Engineer, including data engineering, cloud computing, and data security.

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Actuary

Actuaries use data to assess risk and uncertainty. They work with insurance companies, pension funds, and other financial institutions to develop products and services that help people manage their financial risks. This course can help you develop the skills you need to become a successful Actuary, including data analysis, probability, and statistics.

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Database Administrator

Database Administrators manage and maintain databases. They are responsible for ensuring that data is stored securely and efficiently, and that it is available to users when they need it. This course can help you develop the skills you need to become a successful Database Administrator, including database management, SQL, and data security.

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Compliance Analyst

Compliance Analysts ensure that organizations comply with laws and regulations. They work with organizations to develop and implement compliance programs that can help them avoid legal penalties and reputational damage. This course can help you develop the skills you need to become a successful Compliance Analyst, including data analysis, regulatory compliance, and corporate governance.

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Forensic Analyst

Forensic Analysts investigate computer crimes and digital evidence. They work with law enforcement and other organizations to collect, analyze, and interpret digital evidence that can be used to solve crimes and prevent future attacks. This course can help you develop the skills you need to become a successful Forensic Analyst, including data analysis, digital forensics, and law enforcement.

See salaries and explore the career path for Forensic Analyst