Statistical Decision Making for Sales & Marketing

With increasing volatility and competition in the market place, fact based decision making through usage of statistical tools is becoming increasingly important for the sales and marketing managers. Decision making only based on experience and gut feel is no longer effective enough in the new competitive age and there is a need for new proven tools. This program aims to bridge this gap by systematically build competency in statistical data analysis and application of statistical tools and techniques amongst Sales and Marketing managers to enable effective decision making. To make the program practical, a few case studies and live problems of participants will also be discussed in the program.

• To develop competency in statistical decision making amongst sales and marketing practitioners/ managers.
• To improve data based problem solving skills through usage of statistical.

• Basic Descriptive statistics: Location, Spread and Shape parameters and their applications. Box Plots and interpretations.
• Statistical hypothesis tests(Comparative methods), Comparison of Mean , Standard Deviation and proportion to estimate Population level parameters from a sample data.
• Concept of confidence Interval for Decision making.
• Correlation and Regression Analysis.
• Forecasting Techniques; Time series analysis, Seasonal Index, Decomposition and Measures of accuracy.
• Multivariate tools ; Factor Analysis, Discriminant Analysis, Cluster Analysis.
• Practical exercises using data from participants workplace.

The Participants should be aware of basic seven Quality tools before coming to the program. It is recommended that the participants should come to the Programme with actual data from workplace, as the same can be used in workshop to make it more practical.