The Power of Data: Real World Solutions From Raw Data
Data Analysis is one of the most interesting fields of work today. The students will be Analyzing trends and finding answers to business related questions.
The activities should be an amalgamation of basic Statistical concepts with business problems.
The mentor will be present to facilitate the activities and to intervene at crucial junctures, while allowing the participants to bring their own ideas and experiences to the fore.
The programme allows for anyone who wishes to gain from this style of learning to be a participant. The mentor will be someone who is relatively experienced and has insights to offer in the realm of Data Analysis and critical thinking.
This hands-on, activity-based programme in data will equip you to:
- To develop Data Collection and Management skills among students.
- To help them master Data Interpretation and Analytical skills.
- To help students find meaningful insights from Data using MS Excel and present them in an impactful manner.
Making use of an online platform, the programme allows for the group (participants and mentor) to meet four times a week—remotely—at a time convenient for all.
The programme will be broadly divided into five units and instead of traditional learning materials, the programme will make use such tools and resources that will enable thinking and learning.
- Specification of Aim
The participants will start with understanding the importance of Data and relevance of Data Analysis. They will then study the different fields of industry and come up with question(s) that they would like to find answers to, through Data. Hence, they will set an objective of their project in the very initial stage of the program.
- Collection of Data
The participants will then collect Data through different platforms.( For eg: if data needs to be collected via survey, then they will learn how to make relevant questionnaires and if the data needs to be collected online then they should know where to get reliable data from).
The Data that they are collecting should be relevant to the problem stated by them in Unit 1.
- Verifying/Organizing Data
The participants will now start organizing their Data in a presentable form. This process will also include data cleaning, treating missing values etc.
In this unit, the students will arrange their data in such a form that it is ready for further analysis.
- Analysis of Data
The participants will start studying their data closely and find different trends and insights that are relevant to their project’s objective. They will use different Data Analysis tools of MS Excel such as charts, formulas, pivots and macros at different levels the program.
- Inference from Data
The participants will now come up with inferences from the analysis that they had done in the previous units. They may also suggest some solutions for their own problems.
By the end of this program, students will be able to:
- Find trends in a company’s sales and profits and suggest a future course of action.
- Optimally utilize the resources of a company.
- Calculate the maximum loss incurred in a stock at any given day (VAR).
- Study the performance of different stocks in the market over a period of time and hence compare them.
- Optimize the cost spent on an advertisement by a company.
- Maximize the profit of an enterprise.
- Increase the sale of the product of a company.
- Analyze the performance of different Schemes and initiatives started by the Government.