Advanced Excel Statistics for Business Analytics
Published by O'Reilly Media, Inc.
Build predictive models and simulations using spreadsheets
Inferential statistics involves inferring parameters of a population based on the values of a sample. These tests form the basis of building predictive models and simulations.
Join expert George Mount for a hands-on deep dive into conducting advanced statistical inference using Microsoft Excel. By the end of the course, you’ll be able to forecast and make predictions about their data, using inferential statistics for business impact.
What you’ll learn and how you can apply it
By the end of this live online course, you’ll understand:
- The elements of forecasting trends
- The roles simulation and optimization play in statistics
- What metrics indicate a successful regression model
- How statistics and visualizations each play a part in effective quantitative analysis
And you’ll be able to:
- Predict customer behaviors such as “will buy” or “won’t buy”
- Evaluate uncertain business scenarios using simulation
- Make compelling business recommendations using inferential statistics
This live event is for you because...
- You want to apply more rigorous methods to your business decision making.
- You’re an Excel user interested in learning more about data science.
- You’re a researcher or analyst looking to apply statistical methods to business.
- You can conduct intermediate statistical analysis in Excel and want to take your skills to the next level.
Prerequisites
- A computer with Excel installed and the Excel Data Analysis ToolPak (instructions) and the Solver Add-In (instructions) loaded
- A working knowledge of Excel (relative and absolute cell references, PivotTables, building bar and line charts, etc.)
- An intermediate understanding of statistics (e.g., conducting and interpreting descriptive and inferential statistics and performing a univariate linear regression)
Recommended preparation:
- Read “Regression: Linear and Multiple” and “It’s About Time” (chapters 14 and 16 in Statistical Analysis with Excel for Dummies, 4th edition)
- Take Intermediate Excel Statistics for Business Analytics (live online training course with George Mount)
Recommended follow-up:
Schedule
The time frames are only estimates and may vary according to how the class is progressing.
Regression analysis and predictive models (55 minutes)
- Presentation: Multiple linear regression—explaining the relationship between a continuous dependent variable and two or more continuous variables; logistic regression—explaining the relationship between a dichotomous dependent variable and two or more independent variables; interpreting probabilities and evaluating predictive accuracy
- Hands-on exercise: Practice building and analyzing multiple regression models
- Q&A
Break (5 minutes)
Simulation and optimization (55 minutes)
- Presentation: Monte Carlo simulation—modeling the probability of different business outcomes; statistics and optimization—the relationship between statistics and optimization, optimizing one variable with Goal Seek, optimizing multiple variables with Excel Solver
- Hands-on exercise: Build models using simulation and optimization techniques
- Q&A
Break (5 minutes)
Forecasting and time series (60 minutes)
- Presentation: Building a forecast—establishing a baseline, building forecasts with rolling averages and exponential smoothing, evaluating performance
- Hands-on exercise: Forecast a time series
- Q&A
Your Instructor
George Mount
George Mount is the founder and CEO of Stringfest Analytics, a consulting firm specializing in analytics education and upskilling. He has worked with leading bootcamps, learning platforms and practice organizations to help individuals excel at analytics.
George regularly blogs and speaks on data analysis, data education and workforce development and is the author of Advancing into Analytics: From Excel to Python and R (O'Reilly Media, 2021) and _Modern Data Analytics in Excel: Using Power Query, Power Pivot and More for Enhanced Data Analytics _(O'Reilly Media, 2024). He is a recipient of the Microsoft Most Valuable Professional (MVP) award for exceptional technical expertise and community advocacy in the field of Excel.
George holds a bachelor’s degree in economics from Hillsdale College and master’s degrees in finance and information systems from Case Western Reserve University. He resides in Cleveland, Ohio.