This programme can run as an online or classroom training
(Available also for Customised Training by Duration, Venue & Fee)
How can you put data to work for you?
How can numbers be used to tell you about present and future of business activities?
This course answers these questions with quantitative models. Candidates will understand the fundamentals of this critical business skill.
Through a series of short lectures, demonstrations, candidates will learn the key ideas with which they can begin to create their own models for an enterprise. Candidates will handle a variety of building blocks that will allow them to start structuring own models.
Introduction to Models
Definition and Uses of Models, Common Functions
How Models Are Used in Practice
Key Steps in the Modeling Process
A Vocabulary for Modeling
Linear Models and Optimization
Introduction to Linear Models and Optimization
Growth in Discrete Time
Constant Proportionate Growth
Present and Future Value
Introduction to Probabilistic Models
Examples of Probabilistic Models
Monte Carlo Simulations
Markov Chain Models
Building Blocks of Probability Models
The Bernoulli Distribution
The Binomial Distribution
The Normal Distribution
The Empirical Rule.
Introduction to Regression Model
Use of Regression Models
Interpretation of Regression Coefficients
R-squared and Root Mean Squared Error (RMSE)
Fitting Curves to Data