Tag Archives: Correlation

A very interesting student work from my business statistics class

This is a very interesting presentation as the final exam of my “Business statistics” class at Yokohama National University in Japan.

 

My classes are all for international students and this is work of a student from Vietnam.

The students learned how to set a practical goal and how to effectively use some analytical techniques to support the conclusion(s).

The student tried to find out the difference of the students from two different countries, Vietnam and Japanese in terms of GPA and objectives to learn at university.

 

While the sample size is small and the conclusions are not necessarily surprising, the approach and analysis itself was quite interesting.

 

My class is not just to teach some academic analytical techniques but to teach how to apply those techniques to meet practical goals.

I would be happy to give my lecture anywhere in the world.

 

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5 useful tips #3 ~ Data utilization at work

This is the third video to help you use your business data much more effectively.

In this video, you will find how you can combine “average” and “correlation” in the same chart. Enjoy!

5 useful tips #1 ~ Data utilization at work

New video has been updated to learn how to utilize data in your daily work.

Enjoy an interesting case with a very basic data analysis skill.

https://youtu.be/tMKtNF3Xxpk

Please contact me if you are interested in my training programs.

From my lecture note at university #10 (Modeling with statistics)

It was the last class of this year today.

We focused on some application exercises of the regression analysis in order to deepen their knowledge and skills of practical application.

I started summary to understand the difference and relationship with correlation analysis.

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Followed by the four practical exercises below:

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With question 1, they learned how to read the slope of trendline by evaluating “cost-effectiveness” of the two products.

With question 2, they learned how to apply the equation for resource planning in order to allocate optimal number of staff.

With question 3, they learned how to utilize the trendline visually in the diagram, where they split the data into two groups with the trendline.

With question 4, they learned how to combine correlation analysis and regression analysis to get a deep insight and set KPIs logically.

Finally, I shared the last assignment requesting for their presentation early January, when I will be in Thailand to give my one-day lecture at the university over there!

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Merry Christmas!

From my lecture note at university #9(Modeling with statistics)

Today’s topic was (simple linear) regression analysis.

As usual, the main focus of my class is not to learn an academic theory but to be able to apply the tools for a practical business issue.

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After the review of the correlation analysis, I started talking about what is the “regression”.

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Using Microsoft Excel, students solved a sample practice and other couple of the questions.

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Through those exercises, they learned how to use the equation gained by the regression analysis. This is not only for future predictions but also for planning and optimization etc.

I spent lots of time for them to understand the slope of the equation means and how they can apply the concept to the problem-solving.

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From my lecture note at university #8 (Modeling with statistics)

Today’s class was Workshop #2 ,where the students were requested to present correlation analysis results.

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The teams competed with one another and the presentations were evaluated by the other teams with the following criteria:

(i) Convincing / logical

(ii) Easy to understand

(iii) Analysis techniques are properly applied

I also requested the teams to mention any difficulties they faced during the exercise.

Almost all of the students found how difficult to apply the technique to the real data and real issues. It is really hard to interpret the analysis results into a “solution” or “proposal”.  In most cases, they just presented “analysis results” itself which I did not need.

I hope they learned how to “read” the results and how to effectively present their messages. Well done!!

From my lecture note at university #7 (Modeling with statistics)

Today’s class was to tackle some practical exercises, where the students were required to apply the correlation analysis to the real world issues “practically”.

The first issue was to find a bottleneck in the operational process, where you are requested to translate the mathematical results into verbal explanation.

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Second issue was to find a root-cause in the purchase process(funnel) and propose counter-measures to fix it.

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Students founds it hard to interpret the analysis results into their own words and make a proposal, which was exactly my intention.

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Third one was to drill down the cause analysis of the issue found in the Question 2, where the analysis of the customer survey results is required.

The point was visualizing the positions of the options and their priority makes your proposal and analysis even more convincing and easy to understand for the audience.

Next week, we will conduct the second workshop, where each team will present thier own studies using statistical techniques! Enjoy.

Please contact me if my lecture/training will help you or your organization to improve your competitiveness in the practical data analysis and data literacy.