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Applied statistics in business and economics

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When managers are well informed about a company's internal operations (e.g., sales, production, inventory levels, time to market, warranty claims) and com¬petitive position (e.g., market share, customer satisfaction, repeat sales) they can take appropriate actions to improve their business. Managers need reliable, timely infor-•nation so they can analyze market trends and adjust to changing market conditions. Better data can also help a company decide which types of strategic information they should share with trusted business partners to improve their supply chain. Statistics and statistical analysis nit data-based decision making and reduce managers' need to rely on guesswork. Statistics is a key component of the field of business intelligence, which encompasses all the technologies for collecting, storing, accessing, and analyzing data on the company's opera-* ons in order to make better business decisions. Statistics helps convert unstructured "raw" :ata (e.g., point-of-sale data, customer spending patterns) into useful information through :nline analytical processing (OLAP) and data mining, terms that you may have encountered in our other business classes. Statistical analysis focuses attention on key problems and guides : scussion toward issues, not personalities or territorial struggles. While powerful database ::Svare and query systems are the key to managing a firm's data warehouse, relatively small E-cel spreadsheets are often the focus of discussion among managers when it comes to :tom line" decisions.That is why Excel is featured prominently in this textbook. In short, companies increasingly are using business analytics to support decision making, to rnize anomalies that require tactical action, or to gain strategic insight to align business : 'ocesses with business objectives. Answers to questions such as "How likely is this event?" hat if this trend continues?" will lead to appropriate actions. Businesses that combine managerial judgment with statistical analysis are more successful

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Ketersediaan

Informasi Detail

Judul Seri

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No. Panggil

650.021 Doa a

Penerbit

New York : Mc Graw-Hill., 2013

Deskripsi Fisik

xxvi, 838 hal. : il. ; 28 cm.

Bahasa

English

ISBN/ISSN

9780071317627

Klasifikasi

650.021

Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

Statistik ekonomi
Statistik Bisnis

Info Detail Spesifik

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Pernyataan Tanggungjawab

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Versi lain/terkait

Lampiran Berkas

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