There are 6 modules in this course
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.
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.
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.
Business analysis using Excel involves using a variety of functions and tools available in Excel to understand and analyze business data. Here are some common ways to analyze business using Excel:
Dynamic tables (PivotTables): You can use PivotTables to summarize and analyze data in an easy and quick way. You can summarize, categorize, filter, and display data in a useful, illustrative way.
Charts: You can create a variety of charts such as bar, line, pie, bar, and others to represent data in a visual and easy-to-understand way.
Arithmetic functions and formulas: You can use many mathematical functions and formulas in Excel such as SUM, AVERAGE, COUNT, and others to perform many mathematical operations on data.
Statistical Analysis: Excel provides a wide range of statistical tools such as variance analysis, statistical tests, regression analysis, and forecasting, which can be used to analyze data in more detail.
Big Data Analysis: You can use Excel tools like Power Query and Power Pivot to analyze large, complex data sets more effectively and quickly.
Trend analysis and forecasts: You can use Excel to analyze time trends and future forecasts using techniques such as time forecasting and regression analysis.
Financial data analysis: You can use Excel to analyze financial data such as capital analysis, investment evaluation, and financial reporting.
Inventory Management: Excel can be used to manage inventory, analyze inventory movement, and forecast future inventory needs.
These are some examples of how Excel is used in business analysis. You can use a variety of tools and techniques in Excel to better analyze and understand data about your business.
Business analysis using Excel involves using a variety of functions and tools available in Excel to understand and analyze business data. Here are some common ways to analyze business using Excel:
Dynamic tables (PivotTables): You can use PivotTables to summarize and analyze data in an easy and quick way. You can summarize, categorize, filter, and display data in a useful, illustrative way.
Charts: You can create a variety of charts such as bar, line, pie, bar, and others to represent data in a visual and easy-to-understand way.
Arithmetic functions and formulas: You can use many mathematical functions and formulas in Excel such as SUM, AVERAGE, COUNT, and others to perform many mathematical operations on data.
Statistical Analysis: Excel provides a wide range of statistical tools such as variance analysis, statistical tests, regression analysis, and forecasting, which can be used to analyze data in more detail.
Big Data Analysis: You can use Excel tools like Power Query and Power Pivot to analyze large, complex data sets more effectively and quickly.
Trend analysis and forecasts: You can use Excel to analyze time trends and future forecasts using techniques such as time forecasting and regression analysis.
Financial data analysis: You can use Excel to analyze financial data such as capital analysis, investment evaluation, and financial reporting.
Inventory Management: Excel can be used to manage inventory, analyze inventory movement, and forecast future inventory needs.
These are some examples of how Excel is used in business analysis. You can use a variety of tools and techniques in Excel to better analyze and understand data about your business.
