Business Maths: Effective Manipulation of Data and Statistics

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Overview

In the present economic climate it is essential to minimise cost and maximise profit anywhere and everywhere that we can. The smallest amount can mean the difference between flourishing one year, and going out of business another year. The importance of accurate calculations and strong mathematical models are essential. The old saying that “There are lies, damn lies then there are statistics” is so true. It is essential to understand what the data that you are given is actually saying, and then equally important you know how to deal with the data that you deliver.

Good and accurate manipulation of data can aid decisions about future eventualities and greatly asists in the forecasting of sales, costs and profits. Attending this intensive one day training course will equip delegates with the skills and tools to understand large amounts of data and give them an ability to manipulate this data to best predict events that may affect their profits.

Who will benefit from attending this training?

This workshop will be of interest to delegates from all types of organisations and sectors who use mathematics as part of their work and who would benefit from extending and developing their understanding and skills.

The day will suit delegates of all levels with some mathematics knowledge and understanding. The learning will be interactive with exercises, discussions and examples delivered in a fun and non-threatening manner.

Course Content

The core focus of the workshop will be on building mathematics knowledge relevant to management and business. However, the workshop will also provide an opportunity for participants to become more confident in their own knowledge of, and use of applying accurate statistical models to day to day functions.

Topics to be covered:

• Introductions and personal viewpoints
  
• A run through or refresher of basic mathematics terminology, symbols, terms and disciplines
  
• Percentage increases and decreases
  • If an investor insists on a 20% of your profit, how much more do you need to make to not lose out…? (Hint: - It’s not 20%)
    
• Profit / Cost and break-even
  • Identifying a break-even point
    
• Dealing with large amounts of data
  • Manipulating the data
  • What are the averages?
  • Testing and using the links between data
  • Visual representations of data
    
• Identifying and dealing with seasonality and sales projections
  • Flattening out seasonal trends to project future events
    
• When one event happens it seems to affect another
  • Testing the strength of relationship of between sets of data
  • Interpolating and extrapolating data
    
• Discussion about usage, problems and benefits
  
• Working through some real problems and using a variety of solutions by applying different maths disciplines
  
• Summing up, personal challenges and signposting for further development

Open Events for this Topic

There are no open events scheduled for this topic. Many of our events are run as open events at various locations around the UK. See the Events Diary for scheduled events. All topics can be run as internal events on your premises.

In-house Event for Your Organisation

We can run this topic as an in-house event for your organisation on your premises. This can provide a high quality and cost effective staff development route. This workshop is  Price Band B  More»

Workshop Style

This training course is delivered in a workshop style. It is highly participative with a blend of presentation, group exercises and debate.  A comprehensive delegate pack is included. .

Numbers

To ensure effective levels of delegate participation, involvement and interaction, delegate numbers are restricted.  This workshop is suitable for groups of 2 to 20 delegates.

Certification

Formal CPD certificates are provided after the event in a form which is acceptable as CPD evidence to many professional bodies and institutions.

Facilitator

The facilitator for this workshop is a highly experienced trainer with in-depth subject knowledge.