Track
Service Management
Duration
30 hours
Skill Level
Foundation
Language
English
About this Course
Build a strong foundation in mathematical and statistical tools for business decision-making and analysis.
Learning Mode: Learn at ALC or at Home
Detailed Course Curriculum
Hands-on module breakdown aligned with MKCL production standards and industry requirements.
- Introduction to Probability
- Introduction to Statistics
- Monty Hall Problem
- History of Statistics
- Indian Contribution to Statistics
- Arab Contribution to Statistics
- European Contribution to Statistics
- Three Waves of Statistics
- Modern Day Statistics
- Data Collection
- Methods or Methodology for Collection of Data
- Types of Statistics
- Nature of Statistics
- Conclusion
- Applications of Statistics
- Real Life Applications of Statistics
- Application of statistics across the world
- Limitations of Statistics
- Importance of Statistics
- Attribute Data
- What is Data?
- Attribute Data
- Variable Data
- Examples of Attribute and Variable Data
- Primary Data
- Secondary Data
- Definition of Primary and Secondary Data
- Pros and Cons of Primary Data
- Pros and Cons of Secondary Data
- Primary Data Collection Methods
- Secondary Data Collection Methods
- Primary Data Collection Methods Continued
- Census and Sampling
- Key Differences Between Census and Sampling
- Classification of Data
- Objectives and Types of Classification of Data
- Tabulation: Objectives and Types
- Types of Tabulation
- The Library of Congress Classification
- Graphs and Charts
- Creating Charts and Graphs
- Line Graph
- Bar Graph
- Pie Charts
- Cartesian Graphs
- Venn Diagrams
- Histogram and It’s Types
- Parts of Histogram
- Common Shapes of Histogram
- How to Make an Histogram
- Frequency Distribution
- Data Analysis
- Grouped and Ungrouped Data
- Measures of Central Tendency
- Mean / Arithmetic Mean
- Applications of Arithmetic Mean
- Advantages / disadvantage of Arithmetic Mean
- Geometric Mean
- Examples of Geometric Mean
- Applications of Geometric Mean
- Advantages / Disadvantages of Geometric Mean
- Harmonic Mean
- Applications of Harmonic Mean
- Advantages / Disadvantages of Harmonic Mean
- Relation Between Arithmetic, Geometric and Harmonic Mean
- Median
- Calculating Median
- Applications of Median
- Applications of Median in Real Life
- Key Advantages of Median
- Key Disadvantages of Median
- Mode
- Calculating Mode - Individual Observations
- Discrete Series
- Continuous Series
- Grouping Method
- Applications of Mode
- Case Study: Mode
- Key Advantages of Mode
- Key Disadvantages of Mode
- Relation Between Median and Mode
- Meaning of Dispersion
- Dispersion Continued
- Calculating Dispersion
- Measures of Dispersion
- Absolute Measures & Relative Measures
- Range
- Advantages and Disadvantages of Range
- Applications of Range
- Coefficient of Range
- Mean Deviation
- Calculating Mean Deviation
- Advantages and Disadvantages of Mean Deviation
- Applications of Mean Deviation
- Coefficient of mean deviation
- Calculating Coefficient of Mean Deviation
- Quartile deviation and the coefficient of quartile deviation
- Calculating Quartile deviation and the coefficient of quartile deviation
- Standard deviation and Variance
- Standard deviation - What does it means.
- Coefficient of variation
- Skewness
- Measures of skewness
- Understanding Probabilities
- Origins of Probability
- History of Probability
- What is Probability?
- The Need of Probability
- Approaches to Probabilities
- The Classical Approach
- The Relative Frequencies Approach
- The Simulation Approach
- Case Study
- Overview of Set Notations
- Equalities/ TRANSLATING INEQUALITIES
- Sample Spaces
- Sets
- Putting Sets Together: Unions/ Intersections/ Complements
- About Normal Distribution
- Definition of Terms and Statistical Symbols Used
- Properties of Normal Distribution
- Normality Testing in Minitab Software
- About Standard Normal Distribution
- Standardization – How to Calculate Z Scores
- About Sampling Distribution
- Understanding Normal Distribution
- Kurtosis and Skewness
- The Empirical Rule
- The Normal Distribution Explained
- The Normal Distribution Explained in Advance
- Examples of Normal Distribution
- The Central Limit Theorem(CLT)
- Problems and Solutions of Normal Distribution
- Understanding Standard Normal Distribution in detail
- Area of Standard Normal Distribution
- Understanding Standard Normal Distribution
- Def. of Sampling Distribution
- The Advantages Associated With Sampling
- Characteristics of Sampling Distribution
- Functions of Sampling Distribution
- Parameters of Sampling Distribution
- Sampling Methods
- Introduction to Interest
- Simple interest
- Compound interest
- Difference between simple and compound interest
- Simple interest Applications
- Compound interest concepts
- Compound interest Applications
- Examples of simple interest
- Examples of compound interest
- Introduction to Depreciation
- WHY DO ASSETS DEPRECIATE?
- What Can and Cannot Be Depreciated?
- Which asset does not depreciate?
- Features of Depreciation
- Causes of Depreciation
- Types of depreciation
- Straight Line Method vs Written Down Value Method
- How Depreciation is Calculated
- NPV
- What is NPV?
- Advantages of Net present value method
- Limitations of Net present value method
- About Break-Even Analysis
- Formula to Calculate Break-Even Point
- Role of the Concept of Break-Even Analysis in Managerial Decision Making
- Benefits of Break-Even Analysis
- About Business Forecasting
- Elements of Forecasting
- Types of Forecasting: Qualitative - Jury, Delphi method
- Quantitative - Linear Relation Method
- Forecasting Problems
- Meaning of Demand Forecasting
- Objectives of Demand Forecasting
- Methods of Demand Forecasting
- Limitations of Demand Forecasting
- About Fixed Costs and Variable Costs
- About Break-Even Analysis and Involved Calculations
- Margin of Safety
- Role of the Concept of Break-Even Analysis in Managerial Decision Making
- Benefits of Break-Even Analysis
- About Business Forecasting
- Elements of Forecasting
- Types of Forecasting / Qualitative Forecasting
- Quantitative Forecasting
- Forecasting Problems
- Meaning of Demand Forecasting
- Objectives of Demand Forecasting / Methods of Demand Forecasting
- Limitations of Demand Forecasting
- Probabilities Involving Multiple Events
- Probability Notation
- Marginal Probabilities
- Union Probabilities
- Intersectional or Joint Probabilities
- Complement Probabilities
- Conditional Probabilities
- The Rules of Probability
- Odds vs Probability
- Picturing Probability
- Venn Diagrams
- History of Venn Diagrams
- Tree Diagrams
- Misconceptions about Probabilities
Eligibility Criteria
• Basic knowledge of computers and keen desire to build skills in this field.
• Open to students, job seekers, and working professionals.
• Open to students, job seekers, and working professionals.
Official Certification
• Official MKCL KLiC Certificate upon successful completion of the course and evaluations.
Work-Centric Learning Approach
• Step 1: Learners are given an overview of the course and its connection to life and work
• Step 2: Learners are exposed to the specific tool(s) used in the course through the various real-life applications of the tool(s).
• Step 3: Learners are acquainted with the careers and the hierarchy of roles they can perform at workplaces after attaining increasing levels of mastery over the tool(s).
• Step 4: Learners are acquainted with the architecture of the tool or tool map so as to appreciate various parts of the tool, their functions, utility and inter-relations.
• Step 5: Learners are exposed to simple application development methodology by using the tool at the beginner’s level.
• Step 6: Learners perform the differential skills related to the use of the tool to improve the given ready-made industry-standard outputs.
• Step 7: Learners are engaged in appreciation of real-life case studies developed by the experts.
• Step 8: Learners are encouraged to proceed from appreciation to imitation of the experts.
• Step 9: After the imitation experience, they are required to improve the expert’s outputs so that they proceed from mere imitation to emulation.
• Step 10: Emulation is taken a level further from working with differential skills towards the visualization and creation of a complete output according to the requirements provided. (Long Assignments)
• Step 11: Understanding the requirements, communicating one’s own thoughts and presenting are important skills required in facing an interview for securing a work order/job. For instilling these skills, learners are presented with various subject-specific technical as well as HR-oriented questions and encouraged to answer them.
• Step 12: Finally, they develop the integral skills involving optimal methods and best practices to produce useful outputs right from scratch, publish them in their ePortfolio and thereby proceed from emulation to self-expression, from self-expression to self-confidence and from self-confidence to self-reliance and self-esteem!
• Step 2: Learners are exposed to the specific tool(s) used in the course through the various real-life applications of the tool(s).
• Step 3: Learners are acquainted with the careers and the hierarchy of roles they can perform at workplaces after attaining increasing levels of mastery over the tool(s).
• Step 4: Learners are acquainted with the architecture of the tool or tool map so as to appreciate various parts of the tool, their functions, utility and inter-relations.
• Step 5: Learners are exposed to simple application development methodology by using the tool at the beginner’s level.
• Step 6: Learners perform the differential skills related to the use of the tool to improve the given ready-made industry-standard outputs.
• Step 7: Learners are engaged in appreciation of real-life case studies developed by the experts.
• Step 8: Learners are encouraged to proceed from appreciation to imitation of the experts.
• Step 9: After the imitation experience, they are required to improve the expert’s outputs so that they proceed from mere imitation to emulation.
• Step 10: Emulation is taken a level further from working with differential skills towards the visualization and creation of a complete output according to the requirements provided. (Long Assignments)
• Step 11: Understanding the requirements, communicating one’s own thoughts and presenting are important skills required in facing an interview for securing a work order/job. For instilling these skills, learners are presented with various subject-specific technical as well as HR-oriented questions and encouraged to answer them.
• Step 12: Finally, they develop the integral skills involving optimal methods and best practices to produce useful outputs right from scratch, publish them in their ePortfolio and thereby proceed from emulation to self-expression, from self-expression to self-confidence and from self-confidence to self-reliance and self-esteem!
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