Have you ever encountered a problem in data science that you didn’t know which way to approach? Finding a solution that turned out to be only temporary because it was making noise in the system, not the signal itself?
The purpose of the Root Cause Analysis workshop is to find the root of the problem by finding and eliminating its root causes.No matter what industry you are in, if you can solve problems in a structured, data-driven manner, you will always be ahead.
At the workshop Root Cause Analysis for data-driven structured decision making, apart from theoretical aspects, there will be practice — namely, the analysis of two cases.
Mariia Koroliuk – Data Science Jedi
Mariia studied at one of the top 5 universities in the UK — Warwick University — and received her master’s degree. She worked at McKinsey & Company on Fortune 500 projects worldwide. Maria’s 60% of projects were related to marketing and retail, where she developed customer outflow models and «next product for sale.» Maria has led projects in London, Minsk, Wroclaw, Dusseldorf, Berlin and other cities.
The workshop is designed for:
1. Data Scientists, to improve decision-making based on the data-driven approach.
2. Managers who want to learn how to identify their customers’ major pain and create a product that is useful.
3. Analysts who collect and process large amounts of data to make business decisions.
4. Researchers who have to present or write papers but cannot structure their opinions.
The theoretical part of the workshop:
1. HDEIP concept (hypothesis-data search-research-review-presentation) and a five-step problem-solving approach.
2. Using SMART (Specific-Measurable-Reach-realistic-time-limited) for goal setting and goal setting.
3. Creating MECE (mutually exclusive and collectively exhaustive) logic trees.
4. Creating and developing Value Driver Trees.
The practical part of the workshop
Based on the data of the mining company, we will build examples of the concepts discussed above.
In teams, we will be working on the case of a retailer facing an unexpectedly high % return on purchased online products.
What will you learn from the workshop:
Create hypotheses to solve problems using a systematic approach.
Test data-based hypotheses.
You must have a laptop to participate in the workshop.
Software: Excel or alternatives and any tool for creating presentations.