Data Analysis Fundamentals
This course is designed for those interested to learn the basics of data analysis and interpretation for use in process management to drive improvement in an organisation and to build a structure for performance management.
About This Coursebeginner
We accountants have some very sophisticated data analysis tools at our disposal, and it’s fun to experiment with the advanced formulae available in Excel and other programmes. However, data analysis is an iterative process and it is important to start with some simple analysis tools to highlight the key issues in the data before exploring those issues with more advanced tools.
That’s where this course – Data Analysis Fundamentals – comes in. This course covers the four basic tools of data analysis that everyone working in an organisation should know. These four tools will help you carry out the initial filtering of performance data in order to highlight the important trends and issues. Often these tools are not covered adequately in business or finance training and this course will give you a good grounding in these simple but immensely useful analysis tools.
Advanced analysis is often difficult to understand for people who are not finance or data experts. Using simple tools to draw out the main points in performance data will improve engagement with the data and will help drive discussions about the appropriate actions to take, rather than heated discussions about what the analysis actually means.
This course will help you get to the heart of understanding the performance data in your organisation, and it will help you present that information to others in the organisation so that the decisions made, and the actions taken, address the real issues affecting performance.
What students will learn:
- Principles of process management
- An introduction to performance data: Tools for data analysis that works
- Understanding variation
- The control chart: Highlighting the variation in data
- Control chart special cases
- Interpreting the control chart
- Strategies to deal with special cause and common cause variation
- Using data to drive improvement
- A structure for performance management
Our Promise to You
By the end of this course, you will have learned using data analysis for process management.
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Get started today and learn more about data analysis for use in performance management.
Agenda And Principles Of Process Management
The Voice Of The Process
Working As One Team
Exercise Voice Of The Customer
Tools For Data Analysis
The Pareto Chart
The Run Chart
Exercise Presenting Performance Data
The Control Chart
Control Chart Example
Control Chart Special Cases
Interpreting The Control Chart
Control Chart Exercise
Strategies To Deal With Variation
Using Data To Drive Improvement
A Structure For Performance Management
Data Analysis Exercise
Test Your Understanding
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