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What is Business Analytics?

Business Analytics (BA) is the study of data through statistical and operations analysis to solve day-to-day Business Problems by the formation of predictive models, application of optimization techniques and communication of these results to customers, business partners and senior executives. It is the practice of iterative, methodical exploration of an organization’s data with emphasis on statistical analysis to solve Business Problems in a fact-based data driven environment. Business analytics is used by top companies as well as Small Medium Enterprise (SME)committed to data-driven decision making for effective decisions.

Who Should Attend?

This Course is a must for all CEOs, CFOs, CXOs, CPO, General Managers, Process Improvement Professionals, Sr.Management Professionals, Business Analytics Professionals, Business Consultants, Human Resources Managers, Business Development Managers, Project Managers, Quality Assurance/Quality Control Professionals, Quality Managers, Supply Chain Managers, Cost Control Managers and Marketing Managers.

Course Structure

This Course teaches you on how to make data driven business decisions by transforming vast amounts of data into valuable information. The need for analytical skills is increasing dramatically, as companies struggle to manage and interpret diverse sources of information and complex databases. It may be noted that Business Analytics is not Big Data. This course will address how to extract valuable information from daily or monthly volumes of data, identify key metrics, use analytical models to predict and or make business decisions, analyze trends, correlations, validate claims, improvements, enhanced performances using Minitab.

Duration: 2 days (9:00 AM to 6:30 PM)

Course Fee: Rs. 27,000 + 15 % ST (Laptop Mandatory)

CERTIFIED BUSINESS ANALYTICS MANAGER - COURSE CONTENTS

Day 1

1. Introduction to Business Analytics

Why Business Analytics is needed for today’s Managers?
What is Business Analytics?
Business Analytics vs Big Data
How Business Analytics can solve Business Problems?
Why data-driven decisions?

2. Descriptive Analytics and Graphical Analysis

* Using Graphs to Analyze Data using Minitab^®

Bar Chart
Pie Chart
Histogram
Boxplot
Time-Series Plot
Case Study

* Using Statistics to Analyze Data

Mean/Median/Mode
Standard Deviation
Variance
Range
Pooled Standard Deviation
Sampling & Sampling Distribution
Central Limit Theorem

3. Quality Tools

Cause and Effect / Fishbone Diagram
Runchart
Pareto Chart
Case Study

4. Statistics Inference

Fundamentals of Statistical Inference
Random Sampling
Normal Distribution
Statistical Significance Vs Practical Significance
Case Study

5. Hypothesis testing & Confidence Interval

1-Sample t-Test
2-Sample t-Test
Paired t-Test
1 Proportion Test
2 Proportions Test
Chi-Square Test for goodness-of-fit
Estimation & Confidence Interval
Population and Sample Size
Case Study

6. Process Capability

* Process Capability for Normal Data

Testing for Normality(Anderson-Darling Test)

* Potential Capability:(within)

Cp and Cpk

* Process Performance: (overall)

Pp and Ppk
How to calculate Sigma Level for CTQ Processes

* Process Capability for Non-Normal Data

Data Transformation - Box-Cox Transformation

* Case Study

7. Statistical Quality Control

Variable Control Charts(I-MR, Xbar-R)
Attribute Control Chart( P, NP, C, U)
Case Study

8. ANOVA

One-Way ANOVA (Stacked)
One – Way (UnStacked)

8. Correlation and Regression

Scatter plot
Correlation
Simple Linear Regression
Multiple Linear Regression
Prediction using Regression Analysis
Linear Optimization - Introduction
Case Study

Day 2

9. Predictive Analytics

Scatter plot

Correlation

Simple Linear Regression (SLR)

Multiple Linear Regression (MLR)

Prediction using Regression Analysis

Linear Optimization - Introduction

Risk Management

Case Study

10. Prescriptive Analytics

The Business Value of Prescriptive Analytics
What is Prescriptive Analytics?
Prescriptive Analytics Methods
Business Applications
Strategy
Case Study

11. Measurement System Analysis(MSA)

What is Measurement System Analysis(MSA)
Measurement Errors
Repeatability
Reproducibility
Gage R&R Attributes
Gage R&R Variables
Gage R&R Exercises
Case Study

12. Design of Experiments (DOE)

Why Design of Experiments?
Create Full Factorial Design
Half- Factorial / Screening Experiment

12. Introduction to Simulation & Optimization

Introduction to Taguchi Design(Optimization)

14. Case study 1: Health Care Domain (Hospital/Medical Process)

15. Case study 2: Manufacturing Domain (Manufacturing/defective process)

16. Case study 3: Construction/Banking/BPO/Hospitality Domain (Transactional/Services)

17. Q & A

18. Certified Business Analytics Manager (CBAM®) Exam (2-hours, open book test, practical exercises)

19. CBAM® Certificate Distribution

20. Post -Training Support

21. IIPM - LinkedIn group, Business Analytics For Project Managers - Free Subscription to all IIPM® Patrons.

22. Business Analytics Project Guidance.

23. Project Work (optional) - Participants in a group of 3 to 5 are expected to take a business problem and solve using Business Analytics methods taught in the class and submit to IIPM. IIPM will provide free guidance for 3 months limited to 3 reviews and may the consider such completed projects for award or joint-publications in leading journals or papers or other social media.

Key Deliverables

The course consists of MORE THAN 10 EXCELLENT DELIVERABLES. Some of the key deliverables are:

Business Analytics Maturity Assessment - GAP assessment which presents the gap in knowledge of participants to put them in the right frame of mind about their current awareness of BA Knowledge irrespective of field / experience -Optional.
Course Material on Business Analytics.
Case Study – Practical Application.
Industry oriented Practical Tips - Tips that carry lots of practical use.
Business Analytics Project Work Guidance.
IIPM - LinkedIn group, Business Analytics For Project Managers - Free Subscription to all IIPM® Patrons.
Certified Business Analytics Manager (CBAM^®)Certificate.
CASE STUDY based on Business Analytics Course Trial version of MinitabPost -Training Support .
Trial version of Minitab
Post -Training Support
CBAM^® Simulated Test - A group test conducted at the end of the course which amply demonstrates the knowledge & confidence gained in the course.
Access to an excellent library with 250 International books and journals on Six Sigma, Quality, Statistics, Business Analytics, Lean etc.
You will become a Certified Business Analytics the end of course on successful completion with A FINAL EXAM. THE EXAM WILL BE AN OPEN BOOK EXAM AND FOR 2 HOURS WITH PASS MARK AS 60% TO AWARD THE CBAM® CERTIFICATE. Exam will contain MCQ’s and Business Problem solving exercises. All SUCCESSFUL participants will be awarded CBAM® Certificate at the end of the course.
Guest House for outstation candidates: IIPM can arrange for well-furnished, A/C Guest House accommodation for outstation candidates @ Rs.1500/- to Rs.2000/- per day extra. IIPM understands your needs. This is a special additional service to our outstation candidates.
The participants can identify Business Problems/ Issues in their own organization and pursue it as a Business Analytics project/case study after certification.
Certificates will be awarded by IIPM.

Faculty Profile

1. Mr. O. Arivazhagan “Ari” - IIPM

Mr. Ondiappan Arivazhagan "Ari", is an Honors graduate in Civil / Structural Engineering from University of Madras. He is a certified PMP, PMI-SP, PMI-RMP from PMI^®, USA. He is also a Master Black Belt in Lean Six Sigma and has done Business Analytics from IIM, Bangalore. He has 30+ years of professional Global Project Management experience in various countries around the World and has almost 15 years of teaching / training experience in Project Management, Business Analytics, Risk Management and Lean Six Sigma and has trained more than 5000+ professionals around the world and has guided several project works. He is the Founder-CEO of International Institute of Project Management (IIPM), Chennai.