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Business Statistics

Knowledge of the tools, processes, and practices that describe business results in measurable scales; ability to use this knowledge and data to assist in making business decisions.

Behavior Statements

Proficiency Level 1 - Basic understanding

Identifies and describes basic statistical measures.

Summarizes the underlying uncertainties associated with statistical analysis and reporting.

Cites examples and meaning of statistics used in own area.

Describes the relationship between statistical measurement and continuous improvement.

Proficiency Level 2 - Working experience

Generates and interprets basic statistical data.

Works with basic statistical functions on a spreadsheet or a calculator.

Explains reasons for common statistical errors, misinterpretations, and misrepresentations.

Describes characteristics of sample size, normal distributions, and standard deviation.

Explains the basic decision process associated with specific statistics.

Proficiency Level 3 - Extensive experience

Generates and interprets a wide range of statistical data and reports.

Instructs others in statistical concepts and techniques and their application to business.

Utilizes in-depth knowledge of several statistical tools or applications.

Consults and coaches others on sampling approaches and associated statistical significance.

Establishes metrics and surveys with reasonable and appropriate randomness and sample size.

Teaches use of standard deviation, correlation, and covariance on various types of data.

Proficiency Level 4 - Subject matter depth and breadth

Monitors field for fresh approaches to use of statistics in business.

Analyzes value and results from utilizing variation, probability, and correlation coefficients.

Designs and completes significant statistical evaluations of data, metrics, trends.

Helps others apply all major business statistics and draw associated business conclusions.

Creates guidelines regarding when and what type of statistical analysis should be conducted.

Proactively supports use of statistical processes; is an acknowledged subject-matter expert.

Interview Questions

  • Tell me how you used the data gathered from a business measurement to drive a business decision.
  • How did you choose the appropriate statistical measures to be used in your organization?
  • Tell me about a business measurement that you have previously used to track business progress.

Titles with Shared Competencies