Managerial Data Analysis

This module integrates the core concepts of Data and Statistics in the practical context of solving real business problems by the application of statistical ideas, concepts and methods. In particular, the unit aims to give students exposure to the statistical and non-statistical issues that arise in statistical problem solving, focusing on the process of managerial decisions. Students develop the ability to understand appreciate the nature of statistical problems and discuss the the business decision making cycle focused on statistical issues: formulate a problem, identify a statistical problem; recognize appropriate statistical techniques for use in a variety of problems, and apply these techniques competently; recognize situations in which familiar techniques do not apply; answering business questions at an appropriate statistical level; give a verbal summary of a statistical investigation, answering the business question, at a level appropriate for the audience; and discuss the ethical aspects and implications of professional statistical work.

At the end of this module, you will be able to:

• Identify appropriate statistical techniques and apply the most appropriate statistical technique for solving a given business problem
• Enhance your critical thinking skills through self-reflection and peer assessment
• Make business decisions, write reports at an appropriate statistical level and give a verbal summary of a statistical investigation at a level appropriate for any audience whenever necessary