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.
About this Course
Skills you will gain
Rice University is consistently ranked among the top 20 universities in the U.S. and the top 100 in the world. Rice has highly respected schools of Architecture, Business, Continuing Studies, Engineering, Humanities, Music, Natural Sciences and Social Sciences and is home to the Baker Institute for Public Policy.
- 5 stars78.72%
- 4 stars18.13%
- 3 stars2.40%
- 2 stars0.51%
- 1 star0.21%
TOP REVIEWS FROM BASIC DATA DESCRIPTORS, STATISTICAL DISTRIBUTIONS, AND APPLICATION TO BUSINESS DECISIONS
I would like to go further in depth of the course for better understanding. I think I have got the topic but still far from understanding its business application.
A rewarding experience because I have been able to learn very valuable information. It is an excellent course. It has helped me in the personal and professional field. Thank you.
Great course to understand statistics and start with Business Analytics. Builds the base with great methodology and professor is evident to be highly experienced.
Learned good statistics on practical problems. I love the fact that instructor provides enough discussion so when faced with real world problems, you know how to proceed.
About the Business Statistics and Analysis Specialization
The Business Statistics and Analysis Specialization is designed to equip you with a basic understanding of business data analysis tools and techniques. Informed by our world-class Data Science master's and PhD course material, you’ll master essential spreadsheet functions, build descriptive business data measures, and develop your aptitude for data modeling. You’ll also explore basic probability concepts, including measuring and modeling uncertainty, and you’ll use various data distributions, along with the Linear Regression Model, to analyze and inform business decisions. The Specialization culminates with a Capstone Project in which you’ll apply the skills and knowledge you’ve gained to an actual business problem.
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