Introduction to Business Statistics

Hi, My name is Robert, I am an senior business analyst with over a decade of experience working as data specialist consulting to both big corporate and small medium enterprises. First I would like to thank you for your interest in this course. It is the fruit of my combined experiences and technical know–hows from my years. I decided to share it with you due to my passion in teaching people, to use data in their business, for improvement and profit. Let’s introduce you to the course.

This course will give you a start in understanding statistics in general and business application of statistics in particular. We will discuss the terminology of statistics, basic measurements and the probability concept. You will have a taste of the fundamentals of statistics and how it is applied in business settings for simple problems.

However be aware that this course is not a full on statistics course in the academic sense. Base on my experiences, statistics is too easily being misused by amateurs and professionals alike. Due to its usage of mathematical concepts, measurements and formulas statistics unintentionally created an alluring vision of scientific exactness in the eyes of the inexperienced. In fact, statistics is an imprecise science, an series of educated guesses. True statisticians do not deal in certainty, but probability. A good statistician always deliver his/her results with a clear communication on how confident he/she is on the results, and what could be done further to improve that level of confidence. Thus I decided to only include the most basic and widely used statistical methods in this course. Methods and measurements which are simple but also incredibly powerful in producing pragmatic insights that could aid tremendously in decisions making everywhere.