What You Will Learn!
- What is data mindset
- Are averages misleading
- Should I reward (or penalize) extreme performance
- Is a lag indicator a reliable measure
- What are end to end measures
- Are inferences from a sample reliable
- What are outliers
- How to forecast future performance easily
Description
In a world driven by data, developing a robust data mindset is crucial for anyone looking to make informed decisions and drive improvement. This course is designed to equip participants with the foundational concepts and tools needed to harness the power of data effectively.
Key Topics:
What Gets Measured Gets Improved: Introduction to the concept of y=f(x) and understanding that every problem or opportunity can be framed as an equation. This sets the stage for a data-driven approach to improvement.
Averages Can Be Misleading: Dive into measures of central tendency versus dispersion and explore the importance of understanding the full picture that data presents.
Lead vs. Lag Indicators: Learn the difference between indicators that predict future performance and those that reflect past performance, and how to use them effectively.
Measure It Right: Explore the concept of end-to-end measures versus silo measures and the importance of accurate measurement to avoid the illusion of success.
Sample It Right: Understand the principles of sampling and how to ensure your data is representative and reliable.
Correlation and Causation: Uncover the differences between correlation and causation and the pitfalls of confusing the two.
Should You Reward Extreme Performance?: Discuss the concept of regression to the mean and its implications for performance evaluation.
Outliers: Learn how to identify and interpret outliers in your data and their impact on analysis.
Forecasting: Gain insights into basic forecasting techniques and how to predict future trends based on historical data.
This course is designed for anyone looking to enhance their ability to think critically about data and apply data-driven principles to their work or personal life. Whether you're a manager, analyst, or just someone interested in the power of data, this course will provide you with the tools and mindset needed to unlock the insights hidden within data.
Disclaimer: Please note that this course is focused on developing a data mindset and is not a technical course on data analysis or data science. It is designed to provide practical insights and foundational concepts for thinking critically about data in decision-making processes.
Who Should Attend!
- Professionals
- Analysts
- Students
- Anyone who is curious to explore this topic