Managers and analysts routinely collect and examine key performance measures to gain deeper insights into their operations and make sound decisions. Transforming complex operational data into a clear narrative of significant events necessitates a proficient understanding of working with raw data and drawing appropriate inferences. While some statistical techniques for data analysis and inference are sophisticated and demand specialized expertise, accessible methods exist that are understandable and applicable by individuals possessing basic algebra skills and utilizing spreadsheet software. By applying these fundamental methods directly, rather than delegating both data and analytical responsibility to an expert, managers can cultivate a richer understanding and potentially achieve greater control over their operational environment, enhancing their decision-making capabilities.
This text aims to elucidate these fundamental statistical techniques for managers, data analysts, and students. The statistical analysis of sample data is significantly enhanced through the strategic use of computers, with spreadsheet software being particularly well-suited for the methods discussed herein. Examples within the text utilize Microsoft Excel, providing practical demonstrations. Readers will have access to accompanying example workbooks and Adobe Flash videos illustrating key steps using Microsoft Excel, accessible from the Business Expert Press website, further supporting their learning and application of these techniques.
