Welcome to Statistics & Probability for Business Analytics course. This is a comprehensive business math tutorial designed for data analysts and business analysts. This course will cover basic to intermediate statistics and probability concepts, computational techniques using Python and their practical applications in the field of business analytics. This course is a perfect combination between statistics and Python, making it an ideal opportunity to practice your business analytics skills while improving your statistical knowledge. In the introduction session, you will learn the basic fundamentals of business analytics, statistics and probability applications in this field, and also business analytics workflow. Then, in the next section, we will start the first lesson where you will learn about descriptive statistics. This section will cover mean, median, mode, standard deviation, range, variance, and quartile. These concepts will provide you with the foundational tools to summarize data, identify patterns, and gain meaningful business insights. Afterward, in the second lesson, you will learn about inferential statistics. This section will cover hypothesis testing, confidence interval, regression analysis, and analysis of variance. These methods will help you to make data driven predictions and draw conclusions from sample data. Then, in the third lesson, we will cover the fundamentals of probability. This section will introduce key concepts such as basic probability calculation, joint probability, conditional probability, Bayes’ theorem, and expected value. These probability concepts will assist you to assess the likelihood of various business scenarios and outcomes. Meanwhile, in the fourth lesson, we will learn about probability distribution. This section will cover discrete distributions such as Binomial and Poisson, as well as continuous distributions including Normal, Uniform, and Exponential. Additionally, we will explore their practical applications in business analytics. By learning these concepts, you will be able to model uncertainty, analyze patterns, and apply probability distributions to solve real-world business problems effectively. Then, in the fifth lesson, we will learn about correlation analysis, specifically, we will measure the strength and direction of relationships between variables. At the end of the course, we will apply all statistics and probability concepts that we have learnt to real-world business case studies, where we will use Python to perform data analysis, build statistical models, and calculate probability to predict customer churn.
First of all, before getting into the course, we need to ask ourselves these questions, why should we learn about statistics and probability? Why are they crucial for business analytics? Well, here is my answer, statistics and probability enable businesses to analyze data effectively, identify patterns, and understand trends with greater accuracy. They help in optimizing processes, forecasting future outcomes, and evaluating risks, ensuring that every decision is backed by evidence. By applying these concepts, businesses can enhance efficiency, improve strategies, and make better data driven decisions.
Below are things that you can expect to learn from this course:
Learn the basic fundamentals of business analytics, its workflow, statistics and probability applications in this field
Learn about computational statistics using Python, Pandas, Numpy, Matplotlib, Scipy, Seaborn, and Scikit Learn
Learn about descriptive statistics and inferential statistics
Learn how to calculate mean, median, mode, sum, max, and min
Learn how to calculate standard deviation, variance, and range
Learn how to split data into quartiles and visualise data using histogram
Learn how to conduct hypothesis testing & t-test
Learn how to calculate confidence interval
Learn how to predict house prices using linear regression
Learn how to analyze price differences using ANOVA
Learn how to calculate joint probability and conditional probability
Learn how to calculate probability using Bayes Theorem
Learn how to calculate expected value
Learn about discrete distribution and continuous distribution
Learn how to calculate binomial distribution and poisson distribution
Learn how to calculate normal distribution, uniform distribution, and exponential distribution
Learn how to perform correlation analysis and calculate correlation coefficient
Learn how to predict customer churn using logistic regression
Everything You Need to Know About Statistics & Probability for Business Analytics
This course is a comprehensive and well-structured introduction to Statistics & Probability for Business Analytics. The instructor, Christ Raharja, is a leading expert in the field with a wealth of experience in Finance & Accounting to share.
The course is well-structured and easy to follow, and the instructor does a great job of explaining complex concepts in a clear and concise way.
The course is divided into sections, each of which covers a different aspect related to Financial Modeling & Analysis. Each module contains a series of video lectures, readings, and hands-on exercises.
The instructor does a great job of explaining each topic in a clear and concise way. He/She also provides plenty of examples and exercises to help students learn the material.
One of the things I liked most about this course is that it is very practical. The instructor focuses on teaching students the skills and knowledge they need to succeed in the real world. He/She also provides students with access to a variety of resources, including templates, checklists, and cheat sheets.
Another thing I liked about this course is that it is offered on Udemy. Udemy is a great platform for taking online courses because it offers a lot of flexibility for students. Students can choose to take courses at their own pace, and they can access the course materials from anywhere with an internet connection.
Udemy also offers a variety of payment options, so students can find a plan that works for them. The course also has a very active community forum where students can ask questions and interact with each other. The instructor is also very responsive to student questions and feedback.
Overall, I highly recommend this course to anyone who is interested in learning Statistics & Probability for Business Analytics. It is a well-organized and informative course that will teach you the skills and knowledge you need to succeed.
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