The consequence of making the wrong decision could prove disastrous for your business. Avoiding costly mistakes is what every organisation should strive for, but may not have the tools or procedure in place to really make a measurable difference. The proper use of statistical sampling ideas and tools is essential if you want to make sound data-driven decisions and reduce the chances of making wrong decisions. To see if this course is for you, why not answer the 3 questions posed below?
Is this the right course for you?
If you’re not sure if this the course for you why not take our quick 1-minute quiz? All you need to do is answer the three questions below. They are based on typical scenarios that we come across all the time.
Course content:
Morning Sessions
Session 1: The different types and methods of sampling.
Session 2: How to identify issues with your samples & measurements
Session 3: How to define success and failure in your decisions
LUNCH
Afternoon Sessions
Session 4: How to quantify the risks of making wrong decisions
Session 5: How to decide on a sample size and decision rule by using an Excel based tool
Scenario 1: A fault has occurred in your production line and you suspect that the last 24 hours production may contain products with unacceptable defects. Would you
A. Release all products for sale and take the risk of selling defective products?
B. Scrap all products since you don't want to take any risks?
C. Inspect a sample of products and make a decision based on the results?
Scenario 2: You have developed a radical new product which requires substantial investment to build a new factory and you have to decide whether to go ahead with the project. Would you
A. Build the new factory since you believe that demand will justify the investment?
B. Try to find a way to manufacture the product without building a new factory?
C. Carry out a survey of potential consumers to see if there is sufficient demand to justify the investment?
Scenario 3. You are evaluating a logistics company who claim they can deliver your products faster than your existing supplier for the same price. Do you
A. Change supplier because you believe what they say?
B. Don't change supplier because it's not worth the risk and hassle of changing?
C. Agree a trial with the potential supplier to see if they can substantiate their claim?
Answered C in all Scenarios? You Need This Course!
This course takes you through all the steps from the different types and methods of sampling to how use an Excel based tool to decide on sample size and decision rule. A great course for anyone who already has a grasp of statistical thinking and the basic concepts of statistics.
By the end of the session you will have a firm grasp of the statistical sampling tools and how to use them properly. You will also have a good understanding of how to reduce the chances of making wrong decisions in your organisation.
Booking a course.
To book a training course, call 01225 489033 or email training@marriott-stats.com.
On occasion, we will run 1 or more of our standard courses as a public course available to all. These take place throughout the year in the beautiful city of Bath. Discounts are available for people booking more than 1 day. See our list of scheduled training courses available to book online now.
