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Business Analytics - A Practical Approach

Dates:  Begins June 19th 2015

Who should take this course: Anyone responsible for business analytics; typically analysts that use data from internal and external sources to do market research and sales analyses to improve profitability and expand business.  Employees and managers from small companies are particularly welcome, as this course introduces concepts and practices used by large companies and multinationals. You'll be shown how to implement analytics even with a relatively small budget and training time.

Instructor: Adrian Otoiu has more than ten years of practical experience in analytical roles, including forecasting models for sales, as well as customer segmentation and custom analyses for the consumer goods sector, telecommunications, and government.

Prerequisites: Exposure to real-life business issues. Familiarity with Excel, some knowledge of Access desirable, and some familiarity with a statistics package. Participants will use a no-cost GUI interface to do most of the assignments.

Organization of the Course: The course takes place over the Internet. Course participants will be given access to a private bulletin board, on which they will receive course materials. The board will also serve as a forum for discussion of ideas, examples from your own work, and problem solving.   

The course is scheduled to take place over four weeks. At the beginning of each week, participants receive the relevant material, in addition to answers to exercises from the previous session. During the week, participants are expected to go over the course materials and work through the exercises. Discussion among participants is encouraged. The course leader will provide answers and comments on set weekdays.

Course Program: The course is structured as follows 

Week 1: Introduction:

-Basic concepts and application: churn rates, customer segmentation, market basket analysis, decision trees, regression analysis, price elasticity

-Data issues and data quality: accuracy, consistency, null versus missing

-Basic data processing operations: joins, merges, seasonality adjustments, imports, summary tables

-Practical applications


Week 2: Data exploration:

-Calculating means, medians, quantiles, and percentiles and interpreting them

- Basic data exploration: looking for correlations amongst variables, looking for trends, correlation versus regression

-Regression analysis: how to model relationships between variables, learning how to interpret key statistics

-Heteroskedasticity and autocorrelation: how to spot, how to deal with them.

-Practical applications


Week 3: Applied methods

-Advanced data exploration: Decision tree and customer segmentation

-Cluster analysis: clustering based on multiple criteria, example of customer segmentation (RFM framework)

-Market basket analysis, with a practical example


Week 4: Specific business analytics calculations

-Churn rates: Relevant measures, how to compute them, examples

-Price elasticity: requirements, interpretation, an example

-Other basic metrics required:  compiling relationships between customers, peak transaction periods, price points, examples and applications

-The power of analysis through interpretation: how to dig out key facts, how to focus on the essential, how to present results to non-technical audiences.

Cost: The full cost of this four-week interactive on-line course is only $495. Additional enrollees from the same firm are only $395.

Immediately after your payment is credited, you will receive an email giving you a password, sign up instructions, and the web address (URL) of the course material.  Note that you will not be able to access this address until the start date of the course. Inc. (Ohio, USA) is an authorized retailer for goods and services provided by  Refund Policy: Up until one-week prior to the start of a course, a refund of the fee paid less $55 will be provided on request.  Although there are no refunds after that date, participants may enroll without charge the next time the course is offered.