Data is no longer scarce – it’s overpowering. The key is to analyse the overwhelming volume of data and correctly forecast future implications. Finance professionals know how important forecasting is, yet many fail to apply the fundamental concepts of statistical forecasting. Those that don’t use statistically robust forecasting face higher risks and uncertainty when reality diverges from their plans. Those that do use statistical forecasting are able plan for the future much more effectively and support decision making across the business with confidence.
The purpose of these two courses is to help finance understand fundamental statistical concepts and develop a strategy for approaching data analysis and forecasting. The first day is spent taking you through the six concepts that underlie all statistical thinking and analysis. The second day then looks at one of the big questions in businesses - finding out what is going to happen next.
These courses can be attended individually although we highly recommend attending both. Practical examples, exercises and case applications are used to ensure that techniques learned can readily be applied in your role.
Introduction to statistical data analysis – 1 day
This one day course introduces delegates to statistics and analyses and takes them through the six key concepts that underlie all statistical thinking and analysis. Using a mixture of discussion and exercises, each concept is broken down into an easily understood format. The course shows delegates how to apply these concepts using Microsoft Excel.
Session 1: Probability: the difference between absolute and conditional probability
Session 2: Risk: risk assessment, decision risk and concept of alpha and beta risk
Session 3: Distribution: the importance of the normal and binomial distributions
Session 4: Expectation: which should you use, mean, median or mode?
Session 5: Variance : the importance of within & between group variance
Session 6: Correlation: how to use it and why it is NOT cause and effect
This screen shows you the details for the selected product.
Click the "Add to Cart" button to add this product to your shopping cart. You can enter a quantity larger then 1 to add multiples of this product to your shopping cart.
If the product is full you will see a "Wait List" button. Click this button if you would like to be notified if/when capacity is added. If capacity is increased we will email you. Upon receipt of the increased capacity notification, registration will be on a first-come, first-served basis.
If the product is not ready for purchase you will see a "Notify Me" button. You can click this button if you would like to be notified when this product is ready for purchase.
Some products can only be purchased through our partner. In this case you will see an "External Register" button. Click this button to purchase through our partner's website.