Course Introduction

This Practical Econometrics for Managerial Decision Making online training course focuses on performing high-level multivariate econometric analysis using a range of business and economic data - with an emphasis on design, analysis, and drawing sound inferences to support strategic and operational decision-making. It's no longer specialty PhDs with $10,000 software packages doing high-end econometrics.

This online training course dispels all the myths and misconceptions about intuitive multivariate modeling and analysis, making it practical-accessible for all managers using inexpensive software applications that work within industry standard Excel spreadsheets. 

This Oxford Management Centre online training course will highlight:

• Working with a range of multivariate models, variables, and statistical output
• Modeling and hypothesis design, variable-selection, and managing big-data
• Developing original research projects, relational hypotheses, and parameters for inferences
• Understanding benefits and costs of primary data vs. secondary data for research
• Use of cross-sectional, time-series, longitudinal, and pooled cross-sectional data sets
• Comparing original research output with published research results on various topics
• Critical review, analysis, and critique of research models, methods, and conclusions drawn

Objectives

At the end of this online training course, you will learn to:

• Design-produce an original research study
• Collect and format various types of data
• Perform different models of multivariate econometric analyses
• Analyze detailed statistical output from econometric model-software
• Draw inferences to support high-level managerial decision-making
• Write a detailed, yet succinct, executive summary of research findings

Training Methodology

This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.    

Organisational Impact

Attendees will have immediate Return-On-Investment (ROI) to their own firms / organizations by bringing those requisite skills, models, and research practices directly to their workplace and colleagues.  The Return-On-Investment (ROI) is that attendees will be ready to demonstrate these tangible skills and competencies:

• Review, interpret, and critique existing/published econometric research studies
• Design and implement original econometric research for their firm, market, and industry
• Write high-level executive summaries with insights-inferences from econometric statistics
• Convert generic Big Data into actionable intel that improves organizational performance

Personal Impact

This Oxford Management Centre Practical Econometrics for Managerial Decision Making online training course is suitable to a wide range of professionals but will greatly benefit: 

• Research and Development / Product Development Teams looking for direct connections
• Business Development Staff looking to proactively open up new opportunities
• Financial Officers looking to design-execute original finance-accounting econometric research studies
• Revenue Officers looking to develop new forms and insights for marketing and competition research
• Board Members looking to fully monetize Big Data for the shareholders / stakeholders

Who Should Attend?

This Oxford Management Centre Practical Econometrics for Managerial Decision Making training course is suitable to a wide range of professionals but will greatly benefit: 

• Research and Development / Product Development Teams looking for direct connections
• Business Development Staff looking to proactively open up new opportunities
• Financial Officers looking to design-execute original finance-accounting econometric research studies
• Revenue Officers looking to develop new forms and insights for marketing and competition research
• Board Members looking to fully monetize Big Data for the shareholders / stakeholders

Course Outline

DAY 1

Overview of Contemporary Econometrics and Decision Models 

• Model Design, Hypotheses, Variables, Structure, Outcomes
• Quantitative and Qualitative Inputs  
• Applications: From Wall Street to Marketing to Production to Consumer Behavior
• Software Options
• Linking Models and Confirmation Metrics

DAY 2

Understand Different Forms and Types of Research Data

• Cross Sectional Samples
• Time Series Sequences
• Longitudinal Tracking
• Pooled Cross-Sectional Aggregation
• Primary Data Costs and Acquisition
• Secondary Data Costs and Acquisition
• Descriptive Outcomes vs. Predictive Outcomes
• Dummy Variables / Indicators / Surrogates

DAY 3

Model and Hypothesis Design as Keys to Managing Big Data  

• Targeted Outcomes Determine Input Formations
• Single-Variable vs. Multi-Variable Descriptors and Predictors
• Punctuated Trending vs. Real-time Fluidity
• Static Formations vs. Dynamic-Changing-Active Learning Models
• Correlation and Association vs. Cause-And-Effect
• Building Real Models for Delegates’ Firms, Industries, Markets

DAY 4

Designing Original Models for Your Firm, Competitive Market, and Industry 

• Categorizing Decision Areas and Coordinating Data Availability  
• Micro-economic vs. Macro-economic Decisions
• Indicators, Lagged Variables, Barometers / Bellwethers  
• Running Several Rounds of Differing Regressions
• Managing Databases of Targeted Variables
• Problems of Multi-collinearity
• Problems of Autocorrelation

DAY 5

Presenting and Evaluating-Critiquing Original Econometric Findings

• Drawing Inferences Rather than Conclusions
• Caveats of Explaining Variance
• Individual and Team Presentations and Discussion-Interaction-Critique
• Confidence Intervals in Econometric Forecasts
• Packaging Analysis-results for Optimum Explanation
• Problems with Overreach from Statistical Outputs
• Personal-Managerial Bias Impacts Interpretation
• Distilling Data Output into Actionable Intel
• Disseminating Data Output for Maximum Decision Making Impact