list 4 sequences
assignment Level : Introductive
label Business management
chat_bubble_outline Language : English
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Key informations

credit_card Free access
verified_user Fee-based Certificate
timer 16 hours in total

About the content

Want to know how to avoid bad decisions with data?  

Making good decisions with data can give you a distinct competitive advantage in business. This statistics and data analysis course will help you understand the fundamental concepts of sound statistical thinking that can be applied in surprisingly wide contexts, sometimes even before there is any data!  Key concepts like understanding variation, perceiving relative risk of alternative decisions, and pinpointing sources of variation will be highlighted.

These big picture ideas have motivated the development of quantitative models, but in most traditional statistics courses, these concepts get lost behind a wall of little techniques and computations. In this course we keep the focus on the ideas that really matter, and we illustrate them with lively, practical, accessible examples. 

We will address questions like: Given a choice of variables to collect about customers, which ones will be worth the cost and effort to collect and store?  How do we connect modern, easy to produce visualizations with the statistical models that give us confidence in our decisions? Can you tell with a quick look whether someone has fabricated part of the data they are using in a presentation?

This course will be good preparation for students with a bachelor’s degree contemplating graduate study in a business field, or anyone eager to have a framework for good decision-making. 

Opportunities in analytics are abundant at the moment. Specific techniques or software packages may be helpful in landing first jobs, but those techniques and packages may soon be replaced by something newer and trendier.  Understanding the ways in which quantitative models really work, however, is a management level skill that is unlikely to go out of style. 

This course is part of the Business Principles and Entrepreneurial Thought XSeries.

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Syllabus

  • Variability in the real world and implications for decision making
  • Data types and data quality with appropriate visualizations
  • Apply data analysis to managerial decisions, especially in start-ups
  • Making effective decisions from no data to big data (what should we collect and then what do we do with all this data?)
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Intructors

  • Rick Cleary
  • Nathan Karst
  • Davit Khachatryan
  • George Recck
  • Babak Zafari
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Content designer

Founded in 1919, Babson College is the top-ranked college for entrepreneurship education. We believe that entrepreneurship is the most positive force on the planet for generating sustainable economic and social value, and Babson is a dynamic living and learning laboratory where more than 3,000 students from over 70 countries work together with faculty and staff to address the problems of business and society. In our collaborative community, students gain the fundamental business skills and liberal arts knowledge necessary to cultivate an entrepreneurial mindset. They then use that mindset to put what they learn into practice, making an impact on campus and around the world.

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Platform

Harvard University, the Massachusetts Institute of Technology, and the University of California, Berkeley, are just some of the schools that you have at your fingertips with EdX. Through massive open online courses (MOOCs) from the world's best universities, you can develop your knowledge in literature, math, history, food and nutrition, and more. These online classes are taught by highly-regarded experts in the field. If you take a class on computer science through Harvard, you may be taught by David J. Malan, a senior lecturer on computer science at Harvard University for the School of Engineering and Applied Sciences. But there's not just one professor - you have access to the entire teaching staff, allowing you to receive feedback on assignments straight from the experts. Pursue a Verified Certificate to document your achievements and use your coursework for job and school applications, promotions, and more. EdX also works with top universities to conduct research, allowing them to learn more about learning. Using their findings, edX is able to provide students with the best and most effective courses, constantly enhancing the student experience.

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