Ch 3: Using Analysis in Business Decision Making

About This Chapter

To make strong corporate decisions, employees must have solid analytical skills and knowledge of business analysis methods. This chapter's video lessons offer a flexible corporate training option that prepares employees to analyze data, perform a SWOT analysis and make rational trade-offs.

Using Analysis in Business Decision Making - Chapter Summary

In this chapter, experienced instructors cover a variety of analysis options that can be used to make effective business decisions. Employees can expect to learn about the following as they make their way through the video lessons:

  • How big data analytics drive business decisions
  • The parts and purpose of a SWOT analysis
  • The role of rational trade-offs in decision making

Our short videos contain tags so viewers can easily rewatch major points. The lessons come with video transcripts and self-assessment quizzes. Employees' comprehension of the discussed topics can be assessed using the chapter and final exams.

How It Helps

  • Builds analysis skills: This chapter offers clear explanations of how to use analytics and software platforms to assess business problems. Your employees will be armed with knowledge that will help them make effective data-driven decisions for the company.
  • Enhances decision making: Part of making business decisions is understanding rational trade-offs. Our lessons teach employees about several approaches, including the elimination of dominated alternatives and development of consequences tables.
  • Boosts risk awareness: Employees need to have a firm understanding of how to analyze the facts and considerations involved in making smart decisions for your company. This includes having the skills to determine the risks involved in a business decision. This chapter explores risk through its step-by-step guide to SWOT analysis.

Skills Covered

Once your employees complete this chapter's lessons, they will be able to

  • Explain how to use software and analytics to make data-driven decisions
  • Apply the components of SWOT analysis to business decision making
  • Describe various rational trade-off methods and how they aid decisions

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the How to Make Effective Business Decisions course