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.

Traffic lights

Read about what's good

what should give you pause

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

Data and statistics for business

According to learners, this course provides a strong foundation in using statistics for business decision making. Many found the content, covering topics like summarizing data, sampling, and inference, to be highly relevant and directly applicable to their work. The use of Excel for practical application was also frequently highlighted as a positive aspect, making complex concepts more accessible. While the course is generally well-received and the instructor's explanations are often described as clear, some students, particularly those new to statistics, found certain modules or concepts to be challenging and requiring significant effort or supplementary resources to fully grasp.

Instructor explains topics effectively

"The instructor is very clear in explaining complex statistical concepts, breaking them down into understandable parts."

"I found the explanations easy to follow, which is crucial when learning a subject like statistics."

"While generally clear, some difficult concepts still required rewatching lectures or seeking external help."

Learn to apply statistics using Excel

"I really liked how the course integrated the use of Excel throughout the modules. The practical exercises made the concepts much easier to apply."

"Using Excel for the statistical analysis was incredibly helpful and immediately applicable to tasks I encounter in my job."

"The Excel demonstrations were useful, though sometimes the application felt a bit basic if you have prior Excel experience."

Directly applicable to business roles

"The skills learned in this course are highly relevant to my current job and have already helped me make better data-driven decisions."

"I can immediately apply the concepts of summarizing data and interpreting results in my business reports."

"This course provides useful tools and strategies for anyone involved in business decision making."

Provides a solid base in essential statistics

"This course provides a great introduction to statistics, focusing on the concepts needed for business decision making. I finally understand sampling and inference."

"The modules on descriptive statistics and probability distributions were very clear and helped me build a strong foundation in these core concepts."

"I gained a solid understanding of fundamental statistical ideas and how they relate to real-world business problems."

Can be difficult for beginners in stats

"As someone new to statistics, I found certain parts of the course, particularly the inference module, quite challenging."

"This course required a significant amount of effort and practice to fully grasp the concepts, especially the mathematical underpinnings."

"While the pace is generally good, if you don't have a quantitative background, be prepared to dedicate extra study time."

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.

Browse courses on Excel

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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.

See salaries and explore the career path for Business Analyst

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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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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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

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.

See salaries and explore the career path for Operations Research Analyst

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.

See salaries and explore the career path for Financial Analyst

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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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.

See salaries and explore the career path for Compliance Analyst

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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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