Tag Archives: Data

How to find business insights from simple data

My business statistics class has started at Yokohama National University.

The first exercise of the class today was making a summary of the customer inquiry data at a shopping mall.

Exercise

The students (international students from 12 countries) were required to make a brief report of the data with the following consideration:

 

(1) Which category is the most critical, Gender, Age or type of shop?

(2) At which level do you need aggregate the original data to find the insights effectively?

(3) What is the conclusion rather than calculation results?

You do NOT have to rely on any advanced statistical techniques rather you can use simple tools such as TOTAL, AVERAGE, PERCENTAGE etc.

 

This is the first step for the students who want to manage business data effectively. They were really excited about the exercise.

 

Enjoy and study hard!

A good word to show the level of data aggregation.

My business statistics class started at Yokohama National Univerisy for the international students from all over the world.
Just to explain some basics for the new students, I was struggling to show the level of aggregation of data in my class.
This is a concept that you need to learn for managing data itself before studying some statsitics.
Today I found the word “granularity”.
I guess it is not that common word even for English speakers but it really fits the concept.
YCCS

Data analysis & management class: An “extremely practical” business program at university

The new semester at Yokohama National University in Japan will begin soon.

Here is an agenda of one of my programs for the international students:

      Modeling with statistics and meta-data

 

The name of the program is a bit strange against my intention but the program is designed for the students who need to make:

(i) a story-based presentation supported by quantitative information (data, data analysis)

(ii) a survey for their business plans/presentations

stat1

 

The class is composed of three parts:

 (1) Data management basics

(2) Data analysis techniques

 (3)  Application exercises (Story-making, survey arrangement)

stat2

 

So excited to start the extremely practical business program in April for the undergraduate students from all over the world!

 

 

 

How the analytical skills are required even for IoT and BI.

IoT (Internet of Things) and BI(Business Intelligence) are recent typical buzzwords.

But many business people pay attentions to those new “epoch-making” technologies and keep investing huge amount of money to them.

In my opinion, only technologies or tools(application etc.) may not necessarily help you to resolve your business issues.

But you need a certain level of “analytical skills” to draw a meaningful result from the technology or tools.

In more specific, you need the skill to analyze the outputs which are visualized by a BI tool. A BI tool only gives you an “output” but not” conclusion”.

Likewise, those tools need an input to make an output, which the analyst needs to define.

iot

My training programs improve such analytical skills, which cannot be replaced by any kinds of machines so far. In reality, many of my clients recognized the fact that the technology is just a tool and improved their human skills to reach better performance.

 

 

 

Launched “Data&Story” website in English

The new website in English has just been opened for English-speaking customers.

As I have some classes in English at Yokohama National University, I am always welcome clients who want “business data analysis(Excel-based)”, ” problem-solving” programs taken place in English.

You can try those programs either in Japan or any other countries.

http://data-story.net/english/

English

My programs are all practical based on my 20 year experience at Hitachi and Nissan.

My clients are large organization which have issues to develop basic business skills in new business development, marketing, sales, administration etc.

While they have huge data and systems, they really do not have human skills to manage those technologies/data. My programs will help you have practical skills to make the most of your business assets.

The human skills will change your organization to be even more competitive with data analysis and logical problem-solving skills.

For more detail, please visit the site and please feel free to ask any questions if any.

http://data-story.net/english/

 

Three options to describe the characteristics of data.

Many of you may use “average” to describe the characteristics of a single set of data.

As a result, you may compare two or more averages and conclude which is the highest or which is the lowest.

 

But it is a too much simplistic way to show the characteristics of the data.

I strongly suggest you that you should now graduate from such elementary approach to handle data.

In my program/class, I propose to have three options to show the data characteristics.

(1) Amount/ratio — many of you may already use these!

(2) Trend

(3) Distribution/variance

 

data1

According to your goal (i.e. what you would like to know eventually), you may choose the right combination(s) of the three to show what information the data has.

This is an exactly “multiple-angle” approach, rather than simplistic approach.

 

Those three elements supplement one another with its own characteristic. For example, “average” does not show “trend” nor “distribution” vice versa.

 

If you want to illustrate/visualize your findings from a single data set, you may show these in a variety of graphs to fit your conclusion/message:

This is the most common example that many people frequently use:

data2

Also some people use “pie chart” to show the ratio and “line chart” to show trend, which you can never know only with “Average” or ” total” charts.

data3

I know that only a few people are aware of its importance of data distribution/ varience as it shows risk(s) especially in a business case.

data4

Finally, if you can find a right combination of the three elements, then you may be able to enrich the features you can get from the data as the following examples:

(CV:Coefficient of variance — % of variance against the average )

data5

This is a very fundamental knowledge to handle any kinds of data, which is required even for more advanced data analysis techniques. But not many people acquire the skills yet.

 

You may learn how to “see” data and to apply it to practical issues in my programs.

Please let me know if you are interested!

A mini case for Business profit simulation class at Yokohama National University

In the program for international students at Yokohama National University, the students study some basic business skills.

Each student is required to present their own business plan at the end of the 3rd year.

In general students tend to jump to their subjective ideas without any objective justifications.

But not only an innovative idea but also logical / analytical thinking and presentation skills are required for making a valid business plan.

 

As one of the classes to acquire those skills I started a new class where the students learn how to financially justify their plan with a basic profit simulation with Excel.

They put their own assumptions in the simulation and are required to make sure that the accumulated profit will be positive at the end of the designated period, which each assumptions keep feasible.

This is a good exercise for the students to learn some basic business accounting and make a solid business proposal.

 

Today, we develop a new business simulation for the following case:

Mini case1

This was a very simple case, thus the students were required to complete the plan within an hour and they did it!

Mini case2

Mini case3

I was so happy that all the students made their own business story and mad assumptions for the story within the limited time.

 

I would be happy to deliver the program at your company or organizations/universities (business schools).

 

The class is all based on my business experience at the global company, Nissan.