Training
Turn Data into Insights & Forecasts
The next course will be run from Wednesday 21st to Friday 23rd March 2012 in Bath. For other dates, please look at our calendar. Places are still available with prices starting from £350+VAT for 1 day, £650+VAT for 2 days and £900+VAT for 3 days. You can reserve your place by completing & returning this booking form.
Who is this course for?
This course is for managers, planners, researchers & analysts in all industries
About the course
This course is intended for anyone in the public or private sector whose job requires them to collect, measure, analyse, interpret and present data to managers and directors, who can then use the results to make decisions about the present or to plan for the future. In order to turn data into insights & forecasts, the use of Statistical Thinking, Concepts, Inference and Forecasting Ideas are essential.
Day 1: Statistical Concepts (0915-1700)
Without firm foundations, it can be difficult to build anything. This day will provide you with the foundations and the 6 key concepts that underline all statistical thinking and analysis. Using a mixture of stimulating discussions and exercises, each concept will be carefully explained, its relevance to your business problems highlighted and you will be shown how the calculations can be performed in Excel.
- Expectation - Mean, median & mode; which should you use.
- Variance - What is it? The importance of within & between variance.
- Probability - What is difference absolute & conditional probability?
- Risk - What is producer & consumer risk?
- Distribution - The importance of the normal and binomial distributions.
- Correlation - What does it mean and why it is NOT cause & effect
By the end of day 1 you will be capable of using these concepts to summarise data appropriately using tables and charts. At this point, you will either be able to use your data summaries to make decisions or to identify trends to be explored in more detail using the statistical methods covered in days 2 and 3.
This day introduces the idea of hypothesis testing and how it can be applied to the design of your trials and surveys. As always, we will use a mixture of stimulating discussions and real life case studies to help you understand and apply the following concepts.
- What are variables, factors & levels?
- Why are null & alternative hypotheses important?
- What are P-values and how do we interpret them?
- What are statistical tests (T-tests, F-tests, ANOVA, Chi-squared & Binomial tests) and how do we use them?
This day introduces performance monitoring which involves the comparison of the most recent data with historical data so as to identify trends and any changes in trends. Performance data can then be turned into genuine insight that an organisation can act upon with much greater assurance.
- What is a trend?
- Summarising trends & seasonality with charts & tables.
- Using smoothing methods to measure the underlying trend.
- How to prove that a trend exists by using statistical tests.
- Using control charts to identify a change in the underlying trend.
- How to extrapolate trends into a forecast.
Client testimonials
“Really good material and the best statistical training I've had....", HR Analyst, UK NGO
"Good content, esxcellent the way this was related to real-life situations from Nigel's experience.", Paul Lewis, Business Consultant, Tryscore Associates.
"The activities relating to each topic were very good and helped keep an interest. The teaching methods were brilliant", James Harrison, Research Officer, Worcestershire County Council
"Excellent Coverage of a complex subject with great practical examples", James Scorey, Strategy & Planning Officer, International Baccalaureate Organisation
"A good and practical introduction to forecasting.", Project Officer, Educational Organisation
“Very beneficial if you are in an analyst role with no statistical background", Emma Whitefield, Performance Analyst
"A whirlwind tour of all things statistical in the workplace", Elisa Bullen, Senior Intelligence Officer, Public Sector
"Recommended to encourage statistical thinking and to establish a strong grasp of basic techniques”, Emma Clark, Community Safety Analyst, Worcestershire County Council
"Very interesting & useful to my job.", Rhiannon Platt, Performance Analyst, Devon&Somerset Fire & Rescue