Data Analysis Skills - United States

Data Analysis Skills Outline

Data Analysis Skills training will cover the following modules:

Module 1: Data Analysis and Synthesis

• Overview of statistics applied in organisations
• Defining the problem or opportunity
• Evidence/fact driven analysis
• Splitting the data (working at the right level of detail)
• Cognitive bias, how it skews data analysis, and produces bad outcomes
• Using inductive and deductive approaches to validate data
• Building valid hypothetical models, based on sound analysis

Module 2: Developing and Testing Hypotheses

• Defining tests for your hypotheses
• Using control groups as a baseline
• Group selection, the risk of a skewed sample
• Selecting a reasonable sample from the data population
• Validating survey data

Module 3: Working with Decision Variables and Optimising Solutions

• Understanding your constraints
• Identifying variables that you can control
• Developing realistic assumptions
• Optimising your worksheet
• Managing negatively linked variables

Module 4: Statistical and Other Tools

• The probability based approach
• Common traps in using probability
• Defining the ‘middle’ of the data, mean, mode, media
• Calculating confidence (standard deviation, the three sigma rule)
• Different types of probability curves
• Sensitivity analysis
• Correlation
• Cause and effect analysis
• Regression analysis (simple, multi-variate, step by step, and hierarchical)
• Decision trees
• Expected monetary value calculations
• Monte Carlo analysis
• Heuristics

Module 5: Using Graphics to Present Data

• When to use charts to enhance comprehension
• The basics of visual literacy, bringing the data to life
• The psychology of charts
• The potential traps of using charts
• Different types of charts, for different data sets, bar charts, histograms, histographs, tornado diagrams, radar diagrams, area diagrams, grouped columns, stacked columns, pie charts
• The crucial importance of aligning chart and title
• Using non-numeric charts to present data
• Recap of course content
• Questions and answers
• Ebbinghaus (memory reinforcing) final exercise