Data Analysis: Picking out patterns in 401(k) plans and college GPAs

In the Data Analysis course for MSc in Management students, participants deepen their understanding of the fundamental methods of quantitative analysis in the fields of economics and management in order to develop and apply these methods to analyze real-world economic and management problems.

On day 2 of the course, after a morning of exploring the relationship between 401(k) plan generosity and employee participation, Prof. Wei introduced algebraic properties of OLS (Ordinary Least Squares) statistics in order to demonstrate how to identify factors affecting college GPA by analyzing high school percentile and SAT scores.

In today's data-driven world, businesses collect vast amounts of data from various sources, including customer behavior, market trends, financial transactions, and operational processes. This abundance of data presents both opportunities and challenges for organizations, and the ability to effectively analyze and derive insights from data has become a critical skill for business professionals.