The course has been critical in expanding knowledge and providing information on statistical thinking and how it relates to improving business performance. As Hoerl and Snee (2012) identify, statistical points of view are necessary for problem solving and process improvement in any organization. As my colleagues have indicated, the course is critical for our success in the business world.
Response to Tory
I appreciate how Tory identifies the importance of statistical thinking for any organization and individual especially at the global level. The choice of techniques that stood out in the course is commendable as these represent important aspects in critical thinking and which one can easily relate to businesses and management. It is commendable that Tory recognizes work as a process and the value data adds to this process. It means that every aspect of the working environment needs to be viewed as a process and taken as so. Confidence intervals was also an interesting area for me and it seems my colleagues too because they both identify it as one of their top three concepts. I believe that my colleague takes immense knowledge as identified by the techniques that ranked top and that success in the business world is guaranteed.
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Response to Benish
I appreciate Benish’s focus in mathematics and a central concept in statistics and its connection to business. Further, the recognition of confidence intervals and hypothesis testing show that my colleague is well set for application of these concepts in the appropriate environment and they will be useful in addressing the statistical aspect of any business concept encountered in the future. Statistical marketing and the SIPOC model also represent part of the top three concepts and I believe these concepts act as efficient guidelines to effectively merging business concepts and statistics for the benefit of all those involved.
Reference
Hoerl, R., & Snee, R. D. (2012). Statistical thinking: Improving business performance (Vol. 48). John Wiley & Sons.
