Product details

This chapter is excerpted from 'Using Statistics for Better Business Decisions'. More and more organizations around the globe are expecting that professionals will make data-driven decisions. Employees, team leaders, managers, and executives who can think quantitatively should be in high demand. This book is for beginners to statistics and covers the role statistics plays in the business world and making data-driven decisions. The goal of this book is to improve your ability to identify a problem, collect data, and organize and analyze data, which will aid in making more effective decisions. You will learn techniques that can help any manager or business person who is responsible for decision making. This book has been created for decision makers whose primary goal is not just to do the calculation and the analysis, but to understand and interpret the results and make recommendations to key stakeholders. You will also learn how using the popular business software, Microsoft Excel, can support this process. This book will provide you with a solid foundation for thinking quantitatively within your company. To help facilitate this objective, this book follows two fictitious companies that encounter a series of business problems, while demonstrating how managers would use the concepts in the book to solve these problems and determine the next course of action. This book is intended for beginners, and the reader does not require prior statistical training. All computations will be completed using Microsoft Excel.