ECON-220: Business Data & Analytics

Learn how to turn data into insights in this Business Data & Analytics course. Explore probability, regression, forecasting, optimization, simulation, and data mining with practical tools like Excel, Power Query, Power Pivot, and R.

Course Description

The Business Data & Analytics course introduces students to the quantitative methods and tools organizations use to transform data into actionable insights. Using Business Analytics: Data Analysis & Decision Making, 8th Edition by S. Christian Albright and Wayne L. Winston, students will develop skills in descriptive, predictive, and prescriptive analytics.

The course covers key techniques such as probability, statistical inference, regression, forecasting, optimization, simulation, and data mining, while also emphasizing practical applications through spreadsheet modeling and business intelligence tools like Power Query and Power Pivot. An optional introduction to R provides a pathway for students interested in advanced analytics and programming.

Through hands-on exercises and real-world problem-solving, students will learn how to summarize and visualize data, analyze uncertainty, build predictive models, and optimize decision-making processes. Designed for business and economics students, this course prepares learners to use analytics in strategic, operational, and financial contexts. By the end of the course, students will have the ability to apply analytical reasoning to solve complex business challenges and support evidence-based decision-making across industries.

Textbook: Business Analytics: Data Analysis & Decision Making (8th Edition) by S. Christian Albright, Wayne L. Winston

Course Objectives

Explain the role of business analytics in data-driven decision-making.

Apply descriptive analytics techniques to summarize and visualize data.

Use probability, distributions, and statistical inference to analyze uncertainty.

Build and interpret regression and time series models for forecasting.

Apply optimization and simulation techniques to solve business problems.

Utilize business intelligence tools (Power Query, Power Pivot) and spreadsheet modeling for data analysis.

Demonstrate familiarity with advanced analytics techniques, including classification, clustering, and experimental design.

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Course Contents

Introduction to Business Analytics

Part 1. Data Analysis

Describing the Distribution of a Variable

Finding Relationships Among Variables

Business Intelligence (BI) Tools for Data Analysis: Power Query

Business Intelligence (BI) Tools for Data Analysis: Power Pivot

Part 2. Probability and Decision Making under Uncertainty

Probability and Probability Distributions

Decision Making Under Uncertainty

Part 3. Statistical Inference, Regression Analysis, and Time Series Forecasting

Statistical Inference

Regression Analysis: Estimating Relationships

Regression Analysis: Statistical Inference

Time Series Analysis and Forecasting

Part 4. Optimization and Simulation Modeling

Introduction to Optimization Modeling

Optimization Models

Introduction to Simulation Modeling

Simulation Models

Part 5. Advanced Data Analysis

Data Mining: Classification

Data Mining: Clustering and Market Basket Analysis

Analysis of Variance and Experimental Design

Statistical Process Control

Appendix A. Quantitative Reporting

Single Course or Program Option

This course may be purchased individually or as part of the certificate programs listed below.

Applied Economics

Recommended Prerequisites

Accreditation You Can Trust

Washington Technical Institute is fully accredited by the Middle States Association Commissions on Elementary and Secondary Schools (MSA-CESS)—a regional accrediting agency recognized for setting high standards in education. This accreditation affirms that our programs, operations, and outcomes meet rigorous academic and institutional benchmarks. MSA-CESS accreditation is a mark of quality that ensures our students receive an education that is both credible and respected. It also means WTI is committed to continuous improvement, student success, and accountability at every level.