Introduction to Data Analysis: Mining Insights From Data (Live Stream)
One of the key benefits of analytics is the ability to glean objective insights from data, as opposed to opinions, suspicions and guesses; allowing organizations to identify and respond to real issues and not “imaginary” ones. This requires quantitative skills to mine the data for objective and pivotal insights; much of it grounded in statistics which may not be a common competency in many teams or organizations.
This workshop aims to provide a broad but practical overview of the entire analytics value chain, with a specific focus on the methods required to glean objective insights from data. Attendees will get a practical introduction to the analytical process, including an overview of statistical concepts and relevant analytical tools with which to apply the concepts. Attendees will also get the opportunity to get their hands “dirty” applying these concepts with data in realistic situations to glean and interpret objective insights and draw reliable observations from the analysis. This is targeted at professionals and managers in analyst roles that require them to conduct data-driven analysis to support people decisions in their organization.
Data Analytics Series Overview
There has been growing interest in analytics over the past decade; particularly how data can be leveraged to create value for organizations through analytics, by augmenting and improving the decision-making processes. To the point where many organizations have sought to build core competencies in analytics to fuel their growth. Contrary to popular belief, it takes more than hard data and technology capabilities to succeed in analytics; it takes the right combination of hard and soft skills to capitalize on the data advantage.
This is ONE of FOUR virtual workshops that make up a comprehensive curriculum on Analytics. Each workshop is modular in nature, addressing different aspects along the analytics value chain.
- Data Management and Reporting – focuses on processing and managing data to deliver insights
- Data Analysis – focuses on the technical aspects of mining data for objective insights
- Data Visualization – focuses on presenting data inaccessible forms to get the right message across using data visualizations
- Data Storytelling – focuses on presenting analyses and proposals in a concise, coherent, and compelling fashion to facilitate decision-making
- Develop a comprehensive understanding of the end-to-end analytics process applicable to problem-solving
- Transform data into powerful insights with six simple steps and take away a structured analysis framework for action
- Develop a practical understanding of key statistical concepts relevant to analytics
- Learn how to leverage descriptive analysis to identify pivotal observations in data
- Gain exposure and build capabilities to conduct inferential analysis to predict unknown values, validate and quantify relationships between variables
- Appreciate the capabilities and limitations to both descriptive and inferential analyses and how it should be used to support decision-making
- Practice your data analysis skills in a business case during a facilitated capstone exercise
- Professionals with analytics responsibilities who want to go beyond descriptive analysis and learn inferential and predictive analytics
- Managers responsible for managing and supervising a team of analysts
- Professionals with a keen interest in developing strong foundations in data analytics
Participants are required to bring their own laptops with MS Excel and Powerpoint (version 2013 or later) to participate in the data and capstone exercise. Internet/Wifi connectivity is also required.
1) What is Analytics and what it takes to create a sustainable value chain?
This segment seeks to define what analytics is and isn’t, why it matters in today world and what it takes to build sustainable value. Delegates will also be introduced to the analytics value chain.
2) Translating data to insights and insights into decisions
This segment provides an overview of the six-step approach to conducting analytics. Delegates will see how the analytics process really works and seeks to dispel several myths about the process.
3) Descriptive Statistics – Understanding your data
Attendees will be introduced to relevant foundational statistics concepts and to demonstrate how it could be used in HR settings. This is mostly a hands-on session with multiple computer-aided exercises on a wide range of organizational issues.
- Data types, data errors, blanks, and their various implications
- Describing data – Central tendency & Variation
- Interacting with Data using Pivot Tables
4) Inferential Analysis – Establishing Relationships among variables
Attendees will be introduced to more complex statistics concepts and applications; to estimate unknown values with limited data and to “infer” relationships between variables. This is largely a hands-on session with multiple computer-aided exercises on a wide range of applications.
- Key Statistical concepts
- Sampling & Probability
- Hypothesis Testing
- Inferential analysis (with MS Excel)
- T-Test: Comparison between two groups
- Chi-square test: Analyse the relationship between two non-numerical variables
- Correlation analysis: Analyse the relationship between two numerical variables
- Multiple regression analysis: Analyse and determine significant variables for multifactor problems
- Class exercise: Multiple data analysis exercises with MS Excel
5) Appreciating the limitations of Analytics
While Analytics can provide objective insights, that is not always the case and, in some cases, it is simply misinterpreted. The key is to be aware of the limitations, such as
- Cognitive Bias
- Correlation vs Causation
- Simpson’s paradox
- Is 95% confidence good enough?
Data Expert: Michael Lee
Michael Lee is an associate of FYT Consulting Pte Ltd. An IT professional by training with more than 25 years of consulting & practical experience across many functions (sales, client management, business operations & customer service) throughout various roles (Vendor, Systems Integrator, Distributor and Enduser) in both the public & private sector.
Prior to joining FYT Consulting, Michael has done consultancy and process re-engineering for several SMEs. He has also conducted numerous training sessions on Virtual Teaming for international banks and corporations. In addition, he has made many speaking engagements in Customer & Partner events, as well as in major international Sales Conferences.
Michael has managed the Asia Pacific Sales Operations for Linksys, a division of Cisco Systems. His portfolio included the day-to-day operations within the Asia Pacific. He was also running the China sales for almost a year. Prior to that, Michael led the Asia Pacific Sales Operations for Cisco System and the Business Operations for Customer Service in Asia Pacific & Japan in Cisco. In addition, he headed a global Metrics & Business Intelligence team comprising members from the Asia Pacific, Europe and the Americas. Before joining Cisco, Michael worked for Peoplesoft, AT&T GIS, SAP and National Computer Systems (SCO). Michael holds a Bachelor’s degree in Computer Science & Mathematics as well as an MBA from the National University of Singapore
Data Expert: Joanna Tan
A seasoned leader in Human Resource Business Partnering with more than 25 years of diverse industry, Joanna has experience with reputable multinational and local corporations such as Sage Software, Hasbro, Apple, IBM, Rockwell Automation and Wing Tai Holdings. She has proven success in managing and rolling out major organization change initiatives involving various key stakeholders especially with the sales and marketing teams in driving revenue and margin optimization using business metrics and intelligence.
Joanna currently consults and leads engagements to help FYT clients build HR analytics capabilities across many sectors and regions, including technology, government, pharmaceutical, sales & finance across the Asia Pacific Region. She also has a strong background in talent management and development, organization design, change management as well as employee engagement. Joanna holds a Bachelor’s Degree in Arts with National University of Singapore and a Graduate Diploma in Business Administration with Singapore Institute of Management. In addition, she is accredited in Advanced Certificate in Training and Assessment (ACTA v5).
“Joanne is knowledgable and able to answer any queries throughout the session and she is friendly and approachable. I would recommend this course to friends and colleagues as data mining is an important and relevant issue in any decisionmaking thing in companies nowadays.”
Alain Tan Tong Shen, CPE Officer, Singapore Police Force
“Mike is very experienced and the entire course is very interactive. Mike also putting great effort to ensure the team is engaged. Recommended trainer as the entire course is not bored, useful material and there is video in between to refresh the mind.”
Lo Siew Khim, Advanced Micro Devices
“Michael is very engaging and takes the effort to solicit responses from all participants. He also makes the effort to take note of each participant’s progress through the course to ensure that all can follow. This course is useful for ministry executives who are new to data analytics.”
Esther Chan, Ministry of Social and Family Development
“Michael is very clear in his teaching, and is very patient! This is the first IT-related course I have attended where I did not feel like the instructor was impatient with people who may be slower in their progress.”
Nicole Hilary Teo, National Heritage Board
“Micheal is very engaging! Even though it is a zoom class, he managed to include many interactive elements and easy to follow. I enjoyed the class. I’ve learned the importance of data visualisation and how we can use it for presentation. It was a positive experience and very well-managed session.”
Shermin Tham, MINDEF
“Mr Michael Lee is very knowledgeable on the topic. The experience was beyond my expectation. I expected a lecture, but it was an interactive two way approach with hands on practise & exercises. There are many good takeaways from the session.”
Nur Zalifa Andeera Binte Fadzillah, MyLustre Pte Ltd