Introduction to Business Analysis

About This Course Give yourself an employment advantage by developing analytical skills that are consistently in high demand. This course will teach you powerful quantitative methods that will have you making better, more informed, and more effective business decisions. The days of making critical business decisions by instinct or coin toss are long gone. If you are planning a career in business, you cannot afford to miss this course!

PMBOK® Guide, PMI®, PMP®, CAPM®, and the PMI R.E.P. logo are either marks or registered marks of the Project Management Institute, Inc.

ed2go is a global Registered Education Provider for the Project Management Institute (PMI). Registered Education Providers (R.E.P.s) offer programs and courses that are preapproved for professional development units through PMI and have been reviewed by a project management professional (PMP) to ensure that they meet PMI's expectations for professional development in project management.

This program/course is a good choice for those looking for project management experience and those aspiring to obtain a PMI credential. It's also an excellent choice for existing PMI credential holders looking for an approved activity for PMI's continuing certification PDUs. At the end of this course, you'll receive a certificate indicating your completion of PDUs equal to the number of hours of this course through ed2go, R.E.P. #3213. Please visit pmi.org to learn more about PMI's credentials and how they may fit into your continuing education plans.

About The Instructor

This course includes a knowledgeable and caring instructor who will guide you through your lessons, facilitate discussions, and answer your questions. The instructor for this course will be Frank David.

Frank David has been teaching business analysis for more than 10 years at the college and university level. He holds a Master of Commerce, a Master of Engineering, and has completed PhD-level work in Operations Research and Management Science. He has held senior managerial positions in industry and the Department of Defense, has served over 300 organizations as a management consultant, and is co-author of "The Constant-Sum Approach to Business Success."

Syllabus

A new section of each course starts monthly. If enrolling in a series of two or more courses, please be sure to space the start date for each course at least two months apart.

Week 1

Wednesday - Lesson 01

Decision-making is one of the most important aspects of business. So, we'll start things off by exploring a variety of analytical approaches you can use for making business decisions. We'll also look at the basic steps involved in problem solving.

Friday - Lesson 02

This lesson will help you understand the probability of events. We'll talk about basic probability concepts and how you assign probabilities to experimental outcomes. You'll find out how to apply probability concepts to business situations.

Week 2

Wednesday - Lesson 03

In today’s lesson, we'll delve into the concepts of mean and standard deviation and how they're used in business. We'll also go over survey analysis, the various steps involved in doing a survey, and the most common errors that people make.

Friday - Lesson 04

Today's lesson is all about the use of probability in decision-making. We'll explore an analytical approach called Decision Analysis. You'll learn how to structure a problem so that when you decide how to deal with it, you know what result to expect. We'll talk about using an optimistic, conservative, and an in-between approach in making decisions. Finally, we'll examine the concept of Expected Value.

Week 3

Wednesday - Lesson 05

What if the decision you want to make isn't the most sensible one from a financial perspective? There are times when you need to base the worth of a decision on its value to you. An example of this would be deciding to buy a lottery ticket. Sometimes it's appropriate to make business decisions this way. In today's lesson, we'll talk about this approach and where the different decisions can lead.

Friday - Lesson 06

All businesses need to forecast sales and expenses. And the forecasts need to be accurate. In this lesson, we'll cover forecasting as it's done in business analysis. You'll learn about the two types of forecasting: qualitative and quantitative.

Week 4

Wednesday - Lesson 07

In today's lesson, you'll discover modeling, which is the application of mathematical constructs to decision making. We'll explore simple, intermediate, and complex types of models and discuss the two approaches to model development: reductionist and holistic.

Friday - Lesson 08

Today is about how models are developed within a business organization. We'll talk about what needs to be done and who needs to do it in order to make the modeling effort a success. We'll explore the respective roles of the analyst (modeler) and the client for whom the model is being developed.

Week 5

Wednesday - Lesson 09

The most widely used type of business analysis is financial analysis. This probably doesn't surprise you too much since the point of any business is to make a profit. Today, we'll look at financial analysis and how it differs from accounting. We'll discuss cost estimating, and various types of business costs. You'll get familiar with the concepts of break-even analysis and benefit/cost analysis, both of which play a vital role in business analysis.

Friday - Lesson 10

The techniques of PERT (Program Evaluation and Review Technique) and CPM (Critical Path Method) have proven to be extremely valuable to project managers. In today's lesson, I'll explain the basics of PERT/CPM and how to utilize these techniques in your work. You'll meet a simple technique called a Gantt chart, which works quite well for planning a simple project with a relatively small number of tasks.

Week 6

Wednesday - Lesson 11

Risk is a part of any business situation, which makes it something you need to consider when you do business analysis. Simulation is an excellent method of performing risk analysis. So today we'll cover step-by-step procedures for creating and using a simulation model.

Friday - Lesson 12

In this, our final lesson, we'll look at computer-based information systems. This includes such areas as Decision Support Systems, Optimization Analysis, and Knowledge-Based Systems. You'll learn what each of these areas constitutes, and I'll show you many business applications of each.

Requirements

Proficiency with basic algebra, Internet access, e-mail, and the Microsoft Internet Explorer or Mozilla Firefox Web browser.