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The ability to understand and apply Business Statistics is becoming increasingly important in the industry. A good understanding of Business Statistics is a requirement to make correct and relevant interpretations of data. Lack of knowledge could lead to erroneous decisions which could potentially have negative consequences for a firm. This course is designed to introduce you to Business Statistics. We begin with the notion of descriptive statistics, which is summarizing data using a few numbers. Different categories of descriptive measures are introduced and discussed along with the Excel functions to calculate them. The notion of probability or uncertainty is introduced along with the concept of a sample and population data using relevant business examples. This leads us to various statistical distributions along with their Excel functions which are then used to model or approximate business processes. You get to apply these descriptive measures of data and various statistical distributions using easy-to-follow Excel based examples which are demonstrated throughout the course.
To successfully complete course assignments, students must have access to Microsoft Excel.
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WEEK 1
Module 1: Basic Data Descriptors
In this module you will get to understand, calculate and interpret various descriptive or summary measures of data. These descriptive measures summarize and present data using a few numbers. Appropriate Excel functions to do these calculations are introduced and demonstrated.
Topics covered include:
• Categories of descriptive data
• Measures of central tendency, the mean, median, mode, and their interpretations and calculations
• Measures of spread-in-data, the range, interquartile-range, standard deviation and variance
• Box plots
• Interpreting the standard deviation measure using the rule-of-thumb and Chebyshev’s theorem
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WEEK 2
Module 2: Descriptive Measures of Association, Probability, and Statistical Distributions
This module presents the covariance and correlation measures and their respective Excel functions. You get to understand the notion of causation versus correlation. The module then introduces the notion of probability and random variables and starts introducing statistical distributions.
Topics covered include:
• Measures of association, the covariance and correlation measures; causation versus correlation
• Probability and random variables; discrete versus continuous data
• Introduction to statistical distributions
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WEEK 3
Module 3: The Normal Distribution
This module introduces the Normal distribution and the Excel function to calculate probabilities and various outcomes from the distribution.
Topics covered include:
• Probability density function and area under the curve as a measure of probability
• The Normal distribution (bell curve), NORM.DIST, NORM.INV functions in Excel
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WEEK 4
Module 4: Working with Distributions, Normal, Binomial, Poisson
In this module, you'll see various applications of the Normal distribution. You will also get introduced to the Binomial and Poisson distributions. The Central Limit Theorem is introduced and explained in the context of understanding sample data versus population data and the link between the two.
Topics covered include:
• Various applications of the Normal distribution
• The Binomial and Poisson distributions
• Sample versus population data; the Central Limit Theorem...

Aug 23, 2017

The course has been designed in a manner to give maximum understanding of the concept. The Quizzes are really grilling. and helps you strengthen the knowledge gained from the lecture videos.

Jun 15, 2017

This course was great. Although the concepts introduced are complex, the instructor breaks them down and gives relatable, real-world style examples to easily explain the application.

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von Geet S

•May 03, 2017

Great course! Very informative and all the concepts are very clearly explained!

von Mohammad M

•Nov 05, 2016

One of the most practical courses in business analytic I've ever enrolled.

von Wellington G S

•Aug 08, 2017

Important part of the specialization.

von Kartik V

•Dec 30, 2017

Great course, helped refresh statistics and a good refresher on various distributions. Problem application was also very helpful.

von Adriano F d F J

•Sep 19, 2017

Excelent concepts and exercises.

von Rishabh G

•Dec 09, 2017

Nice course. Please explain little more binomial distributor and poisson distribution.

von Riky

•Mar 25, 2017

Clear and concise, great!

von Ren P

•Apr 18, 2017

Good

von Avichit M

•Aug 07, 2017

Some more questions in the quiz in between the lessons might be of more help as they could clear the concepts thoroughly.

von Ethan O B

•Oct 11, 2017

An excellent programme well delivered - really useful skills to take into business world

von kaila v d r

•Jun 19, 2017

Excellent coaching. I never thought understanding statistics would be easy, but Mr. sharad borle teachings are really impressive.

von Kevin G

•Jul 03, 2018

Very interesting course on the practical applications of statistics in business and other matters. Professor was very informed and made concepts easy to absorb and appl

von Joshua P

•Dec 07, 2017

I enjoyed this course very much. It covered a lot of useful topics to help you understand and apply statistical analysis methods. Professor Borle obviously put a lot of thought into the planning of this course, as the order of topics presented built on prior knowledge, and as usual were presented in a very clear and concise way. I would have liked additional depth and practice on the discreet distributions presented near the end of this course, but that is something I can do on my own time as well. I can't wait to start the next course in this specialization!

von kundan k

•Mar 11, 2018

Nice course and well explained.

von ZHOUZHOU

•Nov 29, 2017

Great course!

von Sean E B

•Oct 29, 2017

The mathematical formulas can be a little confusing if you're not familiar with statistical math, but this is not the fault of the lecturer obviously.

Overall, a nicely explained and set out course. Really helpful and understandable for beginners.

von Sun

•Feb 17, 2018

Easy!

von Andras F

•Feb 02, 2018

I got exactly what I needed, a good and compact summary on statistical distributions that can be used in a business environment.

von Pam B

•Jan 24, 2018

Good intro to probabilities and forecasting. Quizzes have been improved tremendously!

von Ricardo M

•Feb 02, 2017

The lecturer is well versed in statistics and he explained complex theory in a

von Sofia L

•Jul 04, 2018

Loved studing and learning about normal distributions, continuous vs discrete data and how to estimate probabilities by different distributions approach. Learning is fascinating

von Padmaja D

•Apr 19, 2018

A lot of real life examples to understand the concept clearly is extremely valuable. Its an excellent course and I have gained a lot of knowledge form this.

von Wendy P N E

•Apr 18, 2018

GREAT COURSE!!

von galaxy g

•Aug 23, 2017

The course has been designed in a manner to give maximum understanding of the concept. The Quizzes are really grilling. and helps you strengthen the knowledge gained from the lecture videos.

von Ponciano R

•May 15, 2018

Excellent course and teacher!!!!

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