Analytical Thinking for Decision Making

Location

Webinar

In this interactive, practical workshop participants learn how people make decisions using data, the language of data and how to apply a simple, structured process that shows you how to answer questions or make decision with data.

Participants will also learn to ask business-relevant data questions, obtain relevant data, make sense of the data, draw conclusions supported by data and present results to stakeholders in a way that promotes action.

Suitability

This workshop is intended for people who want to better understand the relationship between data analysis and decision making with the aim of becoming a better data analyst.

Learning Outcomes

At the end of the course participants will be able to:

  • Identify and minimise the impact of cognitive bias in data-driven decision-making
  • Apply critical thinking to data analysis to ensure your conclusions are reliable and sound
  • Apply scientific thinking to data analysis by creating hypotheses which can be tested with data
  • Apply logical thinking to ensure that conclusions drawn from data analysis are logically sound
  • Apply ethical thinking to data analysis with the goal of minimising the chance of unintended consequences arising from data-driven decisions

Course Agenda

Module 1

  • Understanding Human Decision Making
  • A deeper dive into the brain’s thinking systems
  • Intuitive Thinking: When to rely and not rely on it
  • Logical Thinking: When to rely and not rely on it
  • Understanding and minimising cognitive bias
  • Critical Thinking in Data Analysis
  • Start with a good question
  • Identifying and avoiding reasoning errors
  • Evaluating your evidence
  • Scientific Thinking in Data Analysis
  • Understanding the scientific method
  • Forming a good hypothesis
  • Observation versus experiment

Module 2

  • Logical Thinking in Data Analysis
  • Deduction versus induction
  • The structure of a logical argument
  • Identifying and understanding logical fallacies
  • Statistical Thinking in Data Analysis
  • Description versus inference
  • Understanding variation
  • Distinguishing signals from noise
  • Ethical Thinking in Data Analysis
  • What is ethical thinking?
  • Why is ethical thinking needed in data analysis?
  • How to maximise the chance of ethical analysis
  • The data analyst’s code of ethics

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of our clients would recommend Alpha to a colleague or peer

90%

of a cohort was promoted within 2 years after participating in an Alpha course.

96%

of participants felt more confident in their role, following an Alpha commercial leadership course.

Why study with Alpha?

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We are thought leaders in instructional and learning journey design and holistic solution architects. We have extensive finance and investments experience combined with skills application to deliver performance improving results. We develop immersive learning environments that maximize time to productivity, support talent retention and added value to improving quality of hires.

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We are focused on mining the embedded organisational intellectual capital for the benefit of the next generation. We create and curate best in class practice gathered from our experience with the leading financial institutions. We design our programmes with the end in mind – what results are you trying to achieve with this intervention? What metrics will we set ourselves to achieve that?

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Quality and innovation, using current market and industry best practices, have made us a trusted partner in delivering dynamic and motivating training for the financial and capital markets. Our programmes are generation proof and responsive to evolving learner needs and styles. Our solutions use a multi-stakeholder engagement strategy that expands beyond relationships between the learner and learning provider. We create connections with managers, peers and the wider business to drive impactful return on investment..

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