Description/Purpose
Data are all around us, and so is numerical naiveté, the inability to extract knowledge from numbers. This 2-day course is designed to address this deficiency. The simple techniques presented can have profound effects on individuals and organizations. Focus will be on differentiating problems that can be solved by local personnel from those requiring intervention by management. The importance of metric selection, the effect of metrics on performance and data integrity will be stressed.
Target Audience
Middle and Upper Management, Supervisors from any department, including the Finance Team. Anyone who deals with data in a decision-making capacity.
Time Requirement
2 days
Number of Participants
25 max
Prerequisites
None
Course Content
- Illustrate Innumeracy (Numerical Illiteracy)
- Show Benefits of Graphical Presentation of Data
- Introduce Basic Statistical Principals
- Common Mistakes in Reacting to Variability -- Deming's Red Beads
- Introduce Control Chart Theory
- Identify Two Types of Variation – Common vs. Special
- Provide Guidelines for Assessing Control
- Provide Examples of Control Charts vs. Traditional Management Techniques
- Selecting Appropriate Metrics
- Dangers of Using Aggregated Data
- Avoiding Sub-optimization
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