Training
Understanding variability for effective decision-making
Training in statistic and data analysis

Whether it is to improve processes, boost performance or to increase profits, we often make key business decisions based on incomplete information. An important source of information is data; but data by itself is useless. It must be organized and presented in a meaningful way to be of any value. Quite frequently, however, the data is incomplete, of poor quality or is misinterpreted. Add to this the uncertainty due to variation in the data, and it becomes evident that we need to question the effectiveness of our decision-making.
This course is designed on the premise that the three pillars of decision-making are: data, information and knowledge. Data becomes information when it is properly processed and summarized; and information becomes knowledge when it is used to add value to the company.
Objectives
- Understand the two types of risks when making a decision using data
- Learn a tool that considers the two types of risks when making a decision using data
- Ensure decision making using data is based on science rather than an art
Targeted audience
- Anyone who must make decisions using data.
Format
- Virtual or in-person
- 60% theory and 40% practical (bring your dataset for exercises)
- Duration: 16 hours
Content
- Type I and type II errors
- Stable vs unstable process
- The individuals control chart
- How to identify trends
- Assessing the control chart performance
- Tips to perform good performance baseline
- Monitoring a process using the control chart
- How to set expectations on performance and their consequences on behaviours
Requirements
- Install Différence’s Excel add-in (demo version, follow the link)
- Understand basic statistical concepts such as the calculation of an average and a standard deviation
For more information or to book your training, please contact us at: info@difference-gcs.com