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Exploring and Producing Data for Business Decision Making

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Exploring and Producing Data for Business Decision Making

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Gain insight into a topic and learn the fundamentals.
4.8

1,035 reviews

Beginner level
No prior experience required
Flexible schedule
2 weeks at 10 hours a week
Learn at your own pace
95%
Most learners liked this course

Gain insight into a topic and learn the fundamentals.
4.8

1,035 reviews

Beginner level
No prior experience required
Flexible schedule
2 weeks at 10 hours a week
Learn at your own pace
95%
Most learners liked this course

What you'll learn

  • Summarize large data sets in graphical, tabular, and numerical forms.

  • Understand the significance of proper sampling and why you can rely on sample information.

  • Use sample information to infer about the population with a certain level of confidence about the accuracy of the estimations.

  • Use Excel for statistical analysis.

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Assessments

24 assignments

Taught in English

Build your subject-matter expertise

This course is part of the Managerial Economics and Business Analysis Specialization
When you enroll in this course, you'll also be enrolled in this Specialization.
  • Learn new concepts from industry experts
  • Gain a foundational understanding of a subject or tool
  • Develop job-relevant skills with hands-on projects
  • Earn a shareable career certificate

There are 4 modules in this course

This course provides an analytical framework to help you evaluate key problems in a structured fashion and will equip you with tools to better manage the uncertainties that pervade and complicate business processes. Specifically, you will learn how to summarize data and learn concepts of frequency, normal distribution, statistical studies, sampling, and confidence intervals.

While you will be introduced to some of the science of what is being taught, the focus will be on applying the methodologies. This will be accomplished through the use of Excel and data sets from different disciplines, allowing you to see the use of statistics in a range of settings. The course will focus not only on explaining these concepts, but also understanding and interpreting the results obtained. You will be able to: β€’ Summarize large data sets in graphical, tabular, and numerical forms β€’ Understand the significance of proper sampling and why one can rely on sample information β€’ Understand why normal distribution can be used in a wide range of settings β€’ Use sample information to make inferences about the population with a certain level of confidence about the accuracy of the estimations β€’ Use Excel for statistical analysis This course is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.

In this module, you will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course. Data is all around you, but what is the data telling you? The first step in making better decisions and taking action is to get a good understanding of information you have gathered. In this module we will learn about some of the tools in statistics that help us achieve this.

What's included

14 videos9 readings7 assignments1 discussion prompt1 plugin

14 videosβ€’Total 71 minutes
  • Welcome to Exploring and Producing Data for Business Decision Making!β€’6 minutes
  • Learn on Your Termsβ€’1 minute
  • Excel Data Analysis Toolpakβ€’1 minute
  • 1-1.1. Basic Terminologyβ€’8 minutes
  • 1-2.1. Summarizing Data: Frequency Tablesβ€’8 minutes
  • 1-2.2. Frequency Tables in Excel: Quantitative Dataβ€’7 minutes
  • 1-2.3. Frequency Tables in Excel: Qualitative Dataβ€’6 minutes
  • 1-2.4. Presenting Frequency Tables as a Bar Graph in Excelβ€’3 minutes
  • 1-3.1. Summarizing Data: Histogramsβ€’6 minutes
  • 1-3.2. Histograms in Excelβ€’7 minutes
  • 1-4.1. Summarizing Data: Pie Chartsβ€’5 minutes
  • 1-4.2. Pie Charts in Excelβ€’5 minutes
  • 1-5.1. Summarizing Data: Scatter Plotsβ€’4 minutes
  • 1-5.2. Scatter Plots in Excelβ€’4 minutes
9 readingsβ€’Total 107 minutes
  • Syllabusβ€’10 minutes
  • ePubβ€’10 minutes
  • About the Discussion Forumsβ€’4 minutes
  • Glossaryβ€’5 minutes
  • Online Education at Gies College of Businessβ€’10 minutes
  • Using Excel for this Courseβ€’10 minutes
  • Updating Your Profileβ€’10 minutes
  • Module 1 Overviewβ€’3 minutes
  • Module 1 Readingsβ€’45 minutes
7 assignmentsβ€’Total 210 minutes
  • Module 1 Quizβ€’30 minutes
  • Orientation Quizβ€’30 minutes
  • Lesson 1-1 Practice Quizβ€’30 minutes
  • Lesson 1-2 Practice Quizβ€’30 minutes
  • Lesson 1-3 Practice Quizβ€’30 minutes
  • Lesson 1-4 Practice Quizβ€’30 minutes
  • Lesson 1-5 Practice Quizβ€’30 minutes
1 discussion promptβ€’Total 10 minutes
  • Getting to Know Your Classmatesβ€’10 minutes
1 pluginβ€’Total 15 minutes
  • Demographic Surveyβ€’15 minutes

We all have heard the phrase that a "picture is worth a thousand words," but you certainly don’t want one of those to be "what exactly am I looking at?" So, now that you know to use "pictures" to summarize your data, let’s make those pictures easier to understand.

What's included

16 videos2 readings7 assignments

16 videosβ€’Total 107 minutes
  • 2-1.1. Measures of Central Tendenciesβ€’11 minutes
  • 2-1.2. Mean and Median in Excelβ€’4 minutes
  • 2-2.1. Measures of Dispersionβ€’9 minutes
  • 2-2.2. Standard Deviation in Excelβ€’3 minutes
  • 2-3.1. Percentiles and Z-Scoreβ€’13 minutes
  • 2-3.2. Z-Score in Excelβ€’5 minutes
  • 2-4.1. Discrete and Continuous Random Variablesβ€’11 minutes
  • 2-4.2. Expected Value in Excelβ€’7 minutes
  • 2-5.1. Normal Distributionβ€’11 minutes
  • 2-5.2. Normal Distribution in Excelβ€’5 minutes
  • 2-5.3. Standard Normal Distribution in Excelβ€’4 minutes
  • 2-5.4. "Less Than" in Excelβ€’2 minutes
  • 2-5.5. "Greater Than" in Excelβ€’2 minutes
  • 2-5.6. "Between Values" in Excelβ€’2 minutes
  • 2-5.7. Finding Z for a Given Probability (INV) in Excelβ€’4 minutes
  • 2-6.1. Standard Normal Distribution Tableβ€’14 minutes
2 readingsβ€’Total 78 minutes
  • Module 2 Overviewβ€’3 minutes
  • Module 2 Readingsβ€’75 minutes
7 assignmentsβ€’Total 210 minutes
  • Module 2 Quizβ€’30 minutes
  • Lesson 2-1 Practice Quizβ€’30 minutes
  • Lesson 2-2 Practice Quizβ€’30 minutes
  • Lesson 2-3 Practice Quizβ€’30 minutes
  • Lesson 2-4 Practice Quizβ€’30 minutes
  • Lesson 2-5 Practice Quizβ€’30 minutes
  • Lesson 2-6 Practice Quizβ€’30 minutes

You are charged with analyzing a market segment for your company. You and your team have figured out what variables you need to understand; you also have an idea what factors might be influencing these variables of interest. Now you are ready to do your analysis. But, wait! Where is the data? How do you begin to get the data? In this module we will review the means by which you can begin to produce data – the concepts of sampling and Central Limit Theorem – and will help you understand how to produce "good" sample data and why sample data will work.

What's included

7 videos2 readings5 assignments1 peer review

7 videosβ€’Total 63 minutes
  • 3-1.1. Producing Dataβ€’11 minutes
  • 3-2.1. Samplingβ€’14 minutes
  • 3-2.2 Sampling Function in Excelβ€’6 minutes
  • 3-3.1. Central Limit Theorem and Sampling Meansβ€’9 minutes
  • 3-3.2. Animating the Central Limit Theoremβ€’6 minutes
  • 3-3.3. Sampling Distribution and Empirical Rule in Excelβ€’11 minutes
  • 3-4.1. Central Limit Theorem – Sampling Proportionβ€’6 minutes
2 readingsβ€’Total 33 minutes
  • Module 3 Overviewβ€’3 minutes
  • Module 3 Readingsβ€’30 minutes
5 assignmentsβ€’Total 150 minutes
  • Module 3 Quizβ€’30 minutes
  • Lesson 3-1 Practice Quizβ€’30 minutes
  • Lesson 3-2 Practice Quizβ€’30 minutes
  • Lesson 3-3 Practice Quizβ€’30 minutes
  • Lesson 3-4 Practice Quizβ€’30 minutes
1 peer reviewβ€’Total 60 minutes
  • Exploring and Producing Data Peer Review Assignmentβ€’60 minutes

You have sample data and have done the analysis – you think you can say something about the population based on your sample study. But, do you have a sense of what are the chances of you being right or wrong? How can you be surer? What else should you have considered? In this module, you will learn how to find the answers to these questions.

What's included

12 videos4 readings5 assignments1 plugin

12 videosβ€’Total 97 minutes
  • 4-1.1. Confidence Interval Basicsβ€’16 minutes
  • 4-2.1. Confidence Interval for Meansβ€’10 minutes
  • 4-2.2. Confidence Interval for Mean in Excelβ€’9 minutes
  • 4-2.3. Impact of Confidence Level Illustrated in Excelβ€’4 minutes
  • 4-3.1. Confidence Interval for Population Proportionβ€’11 minutes
  • 4-3.2. Confidence Interval for Population Proportion in Excelβ€’9 minutes
  • 4-3.3. Confidence Interval Animation in Excelβ€’5 minutes
  • 4-3.4. Starting Salary Example in Excelβ€’8 minutes
  • 4-4.1. Sample Sizeβ€’10 minutes
  • 4-4.2. Sample Size Proportion in Excelβ€’3 minutes
  • 4-4.3. Sample Size Mean in Excelβ€’7 minutes
  • 4-4.4. Sample Size Effect in Excelβ€’6 minutes
4 readingsβ€’Total 43 minutes
  • Module 4 Overviewβ€’3 minutes
  • Module 4 Readingsβ€’20 minutes
  • Congratulations on completing the course!β€’10 minutes
  • Get Your Course Certificateβ€’10 minutes
5 assignmentsβ€’Total 150 minutes
  • Module 4 Quizβ€’30 minutes
  • Lesson 4-1 Practice Quizβ€’30 minutes
  • Lesson 4-2 Practice Quizβ€’30 minutes
  • Lesson 4-3 Practice Quizβ€’30 minutes
  • Lesson 4-4 Practice Quizβ€’30 minutes
1 pluginβ€’Total 15 minutes
  • How was the course?β€’15 minutes

Earn a career certificate

Add this credential to your LinkedIn profile, resume, or CV. Share it on social media and in your performance review.

Build toward a degree

This course is part of the following degree program(s) offered by University of Illinois Urbana-Champaign. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.ΒΉ

Instructor

Instructor ratings
4.8 (167 ratings)
University of Illinois Urbana-Champaign
5 Coursesβ€’60,339 learners

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AM
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Reviewed on Oct 22, 2017

Both courses about statistics are great. A lot of useful information and professor gives very detailed explanations with useful examples.

AO
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Reviewed on Aug 8, 2019

The videos were very explicit and I could practically assimilate the teachings. This also has helped in my career and the skills acquired are been applied appropriately.

NA
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Reviewed on May 11, 2020

This was a great course, very well taught. I would recommend to everyone that is eager to learn stats. It gives you real-life examples and it is very well explained.

Frequently asked questions

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When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile.

Financial aid available,