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Statistics

 
forum comment
#0 Statistics
 
Lilo
30.10.10 00:00
 
Do MCs use statistics in their work or do they all have to have the knowledge of statistics and statistical packages, if yes, to what extent?Thanks
 
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forum comment
#0 RE: Statistics
 
anon
31.10.10 00:00
 
Not to a huge extent, but it depends on the practice and the level you're working at - e.g. Operations Research or Supply Chain analysts will apply statistics more than partners in a Marketing group
 
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forum comment
#0 RE: Statistics
 
Evil Consultant
31.10.10 00:00
 
A good working knowledge of how to use (and ideally misuse) statistics is a very useful ability in a consultant. Even better if you know a few tricks about making graphs say what you want to.EC
 
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#0 RE: Statistics
 
Gunslinger
31.10.10 00:00
 
Sound streategic advice is often based on mathematical facts - especially probability and statistics. Hard numbers are difficult to argue against and often form the backbone of recommendations.For instance, when asked 'should we enter this market?' type questions, the strat analyst should perform ( perhaps with the team) rigorous stats to find things such as market size, customer volumes, liklihoods of purchase of certain products, variances, risks, how sensative are your projections, what is the numerical impact if assumptions are false, etc...Without stats backing up recommendations, the recommendations are prone to inaccuracy and risks entering the business. There are many tools out there that do calculations for you- but you need to know a few things:1. Why do you want this info- for what purpose, what does it tell you and how is it relevant to the problem etc.2. What do you need to do with the tools to get the answer- what info do you need to feed into the tools to crunch the numbers to get the outcome etc...most tolls thesedays ( exel, BI type tools etc) will integrate with databases and will have the data feed automatically, but its no substitute for knowing why you want that analysis done.
 
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#0 RE: RE: Statistics
 
OED
01.11.10 00:00
 
As important as stats is the ability to spell
 
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forum comment
#0 RE: RE: RE: Statistics
 
Lilo
01.11.10 00:00
 
Thanks guys. Gunslinger, are you a consultant? I see you like to theorize :) Since I know what statistics are good for, my initial question was, maybe it wasn't clear, how much of statistics, and what level of statistics, are actually used in ever day of an MC analyst? Does it also depend on functional practices? Thanks :)
 
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