Predictive and Prescriptive Analytics
Learning Outcomes:
- Explain the fundamental concepts of descriptive, predictive, and prescriptive analytics, including the role of analytics in business decision-making processes.
- Apply data preparation and standard analytical methodologies (e.g., CRISP-DM, SEMMA) to explore and preprocess datasets for predictive modelling
- Analyze structured and unstructured data using classification, regression, forecasting, and optimization models, and interpret the results to support business insights.
- Analyze prescriptive analytics solutions using optimization and simulation models by integrating analytical results into the decision-making process.
Topics:
- Introduction to Business and Data Analytics
- Frameworks and Methodologies
- Data Preparation and Exploration
- Regression Analysis for Predictive Modelling
- Classification Algorithms
- Time Series Forecasting
- Case Base Reasoning
- Simulation Modeling for Decision Support
- Decision Analysis and Multi-Criteria Decision-Making (MCDM)
- The Future of Business Analytics
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