Training on Data Analytics for Managerial Decision Making

This Data Analytics for Managerial Decision Making course transfers knowledge in a practical approach on leveraging data analytics techniques for making informed and data-driven decisions in managerial roles.

During the course, participants will learn how to collect, analyze, and interpret data to uncover valuable insights. They will also explore various data analytics techniques and tools that can be applied to solve complex business problems and drive strategic decision-making.

This course is designed for managers and professionals who want to enhance their analytical skills and gain insights from data to improve decision-making processes.

Course Outline

Day 1: Introduction to Data Analytics and Decision Making

• Understanding the role of data analytics in managerial decision making
• Introduction to key concepts and Principles of data analytics
• Exploring the decision-making process and its relationship with data
• Identifying different types of data and their relevance to decision making
• Introduction to data analytics tools and techniques

Day 2: Data Collection and Preparation

• Identifying relevant data sources for managerial decision making
• Data collection methods and techniques
• Data cleaning and preprocessing for analysis
• Dealing with missing data and outliers
• Ensuring data quality and integrity

Day 3: Data Analysis Techniques

• Exploratory data analysis (EDA) and data visualization
• Descriptive statistics and summary measures
• Hypothesis testing and statistical inference
• Correlation and regression analysis
• Forecasting Techniques for Decision making

Day 4: Advanced Analytics for Decision Making

• Predictive analytics and machine learning algorithms
• Clustering and segmentation analysis
• Text mining and sentiment analysis
• Optimization and simulation models for decision making
• Incorporating uncertainty and risk analysis in decision making

Day 5: Decision Support Systems and Reporting

• Introduction to decision support systems (DSS)
• Building decision models and Frameworks
• Visualization techniques for effective decision communication
• Creating executive dashboards and reports
• Ethical Considerations in data analytics and decision making

Note: This course outline provides a general structure for a 5-day training program on Data Analytics for Managerial Decision Making. The specific content, activities, and duration of each session may be adjusted based on the target audience, learning objectives, and available time.