What you'll learn:
- How to use your organization's data to make better decisions
- The nature and sources of variation in business data
- Common cause versus special cause variation
- How to calculate and use a capability index
- How to start making statistically confirmed decisions
- An overview of Designed Experiments
- Types of hypothesis errors
- Hypothesis testing steps
- T tests and Z tests
- One way and two way ANOVA
- An overview of Design of Experiments (DOE)
- An understanding of leading and lagging indicators
- The 10 steps toward building a Quality Operating System (QOS)
- QOS examples in manufacturing
- Excel-based, downloadable spreadsheets
If you are a manufacturing professional looking to advance your data analysis skillset so that you can advance your business career, then this is the class for you!!
In this second course in its series course, "Decision Making for Leaders: Leveraging Data", you will learn beginner and intermediate level skills from 3 important areas of business data analysis:
Understanding and Analyzing Data Variation
Making Statistically Confirmed Decisions
Utilizing Leading and Lagging Indicators to Monitor Business Processes
Each of these sections are "bite sized" lessons that a busy professional can watch in one or two lunch breaks or evenings.
In the first section, Understanding and Analyzing Data Variation, you will learn:
The value of visualizing your data on a time-based run chart
How to calculate control limits as a means of characterizing the normal range of your process
How to use Cpk as a business indicator
In the second section, Making Statistically Confirmed Decisions, you will learn:
How statistical tools like hypothesis testing can improve your decision-making abilities.
How to measure to two sources of error, alpha and beta.
How to perform one-, two-, and both-tailed hypothesis tests using both the t and Z statistic.
And in the third section, Utilizing Leading and Lagging Indicators to Monitor Business Processes, you will learn:
The value of both leading and lagging indicators in monitoring your business processes
Real life examples of both types of indicators
Connecting leading and lagging indicators for greater business success
In addition to over 3 1/2 hours of high-quality video, this class also offers several downloadable resources including:
The slide deck for each of the three lessons (OVER 200 SLIDESTOTAL)
Several Excel Spreadsheets that were used during these lessons (Excellent for practicing your new skills!!)
If you are going to be successful in business or operations, you must know how to extract useful insights from your organization's data. Complement your managerial and people skills today with"Decision Making for Leaders: Leveraging Data", and take your career to its next level.
See you in class!!
