What is Statistics, and Why Should a Business Analyst care?

“Torture numbers, and they’ll confess to anything.”
Gregg Easterbrook, American writer

Presented by: Dr. Mark Griffin

With the advent of Business Analytics there is a rapidly growing range of quantitative methods making their way into the Business Analysis domain. As could be expected these methods have been met with a range of reactions from enthusiasm to outright fear and trepidation. In this webinar the goals and objectives of statistics will be discussed, along with a brief overview of a number of statistical methods available to the business analyst. While not all business analysts will become hardcore statisticians, it is important that business analysts can identify which statistical method will be appropriate in a particular situation and when biased results might be obtained through inappropriate statistical analyses.
 
Key learning points:
  • What are the goals and purposes of statistics?
  • How is statistics different to data analytics or data mining?
  • What is big data?
  • How do I know if I am measuring the right thing? (reliability and validity)
  • How can I use a number of measurements of the same underlying construct? (scale development)
  • Is my dataset representative of my population of interest? Is missing data a problem?
  • What are linear and logistic regression?
  • Are there additional concerns if I have repeated measurements? (longitudinal data)
Presenter:

Dr Mark Griffin is the Chair of  IIBA® SIG for Business Analytics. He is the Director of the Australian Development Agency for Statistics and Information Systems, a member of the Executive Committee for the Statistical Society of Australia, and holds a casual appointment with the School of Business, University of Queensland. Qualified as both a statistician and computer engineer, he is well-versed in the similarities and apparent conflicts between these disciplines.