Query
Introduction:
Decision making approaches in businesses have been changing fast over the past decade. Experience and intuition are no longer acceptable option in the highly competitive market environment.
Most of the managers have realized the need of analytical approach, which are data-driven and facts-based decision making. Thomas Davenport, a widely acclaimed author and speaker on information and knowledge management, contends that in a complex and dynamic world, Analytics is the CEO's best friend.
Data analytics turns data into information, and then into knowledge. Knowledge is power, and companies using it wisely could bring competitive advantage over their competitors.
The amount of information available to managers and researchers has exploded in recent years, and it will continue to do so in the future. Until recently, much information just disappeared. It either was not collected, or was discarded, often because there was no cost effective way of keeping it. Today this information is collected and stored in data warehouses, and it is available to be "mined" for future analysis and better decision-making. Sometimes, the information can be analyzed and understood with simple analytical tools. However, in other times, turning it into business intelligence requires more complex approaches.
This workshop introduces decision makers and managers to the fundamental of statistical methods underlying the analysis and ultimately the understanding of information in large databases. As the workshop is "hands on", participants leave with tools and "know-how" that can be immediately applied to improve their business decision-making.