Advanced Business Statistics: Probability and Data Modeling
Develop advanced statistical analysis and data modeling skills for strategic business decisions in this comprehensive 7-week quantitative program.
Develop advanced statistical analysis and data modeling skills for strategic business decisions in this comprehensive 7-week quantitative program.
Dive deep into advanced business statistics with this comprehensive course. Learn to analyze large datasets using spreadsheets and R programming. Explore probability theory and its application to business phenomena. Master techniques for modeling with random variables like Binomial, Poisson, and Normal distributions. Gain practical skills in data simulation and sampling. This course is ideal for business professionals and students seeking to enhance their statistical analysis capabilities for real-world applications.
Instructors:
English
English, Hindi
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What you'll learn
Use spreadsheets effectively to analyze large business datasets
Formulate and answer pertinent business questions using statistical analysis
Describe random variables in probabilistic terms and calculate their parameters
Apply sampling techniques to draw representative samples from populations
Model business phenomena using known probability distributions like Binomial, Poisson, and Normal
Simulate data following specific statistical distributions
Skills you'll gain
This course includes:
PreRecorded video
Graded assignments, exams
Access on Mobile, Tablet, Desktop
Limited Access access
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Module Description
This course, part of a 4-part series on Business Statistics, focuses on advanced statistical concepts and their applications in business. It covers probability theory, random variables, and distribution modeling, with an emphasis on practical applications using real-world data. Students will learn to analyze large datasets using spreadsheets and will be introduced to R, an advanced statistical programming platform. The course covers key distributions such as Binomial, Poisson, and Normal, and teaches techniques for data simulation. Throughout the course, students will work with real datasets from various business fields including economics, finance, and HR, providing a practical context for the statistical concepts learned. The curriculum is designed to prepare students for advanced business analytics and data-driven decision making.
Fee Structure
Instructor
1 Course
Distinguished Analytics Expert and Information Systems Scholar
Shankar Venkatagiri serves as faculty member in Information Systems at IIM Bangalore since 2002, where he teaches big data analytics and information systems management. After building experience in IT consulting around Cambridge, USA with companies including Sapient, Curl Corporation, and Reuters Consulting, he transitioned to academia. Through his roles directing the DSAI program and serving as IT Chair during the pandemic, he has advanced technology-enabled education while helping transform IIMB's classroom capabilities. His contributions include developing MOOCs in business statistics for edX and anchoring Topper TV for school mathematics. As an active industry consultant, he provides training in analytics, negotiation skills, and agile methodologies to organizations including Swiss Singapore Overseas, Philips Healthcare, and State Bank of India
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