Predictive Analytics in Business
Offered By: IE University via edX
Course Description
Overview
Data and technology are driving business change. Leading companies are investing in the tech, data, processes, and people to empower better decision-making and faster corrections based on what they learn. Predictive analytics, where data is used to forecast future trends and events, can help drive strategic decision-making. This type of analysis goes beyond explanations and predictions to recommend the best course of action moving forward, advancing business growth, and maintaining a competitive edge.
The three month Predictive Analytics in Business professional certificate from IE University explores data-driven forecasting techniques from a business and technical perspective. Drawing on the Cross-Industry Standard Process for Data Mining (CRISP-DM), you’ll explore an iterative approach to predictive analytics and learn how to leverage this knowledge to achieve business goals. You’ll analyze real-world case studies as you develop an understanding of how data-driven models can improve your ability to make decisions in a fast-paced world. You’ll also engage with the technical aspects of predictive modeling demonstrated with activities pre-populated with Python code. Other outcomes include an exploration of regression and classification analysis for business strategy and decision-making, and the forecasting methods needed to estimate future business results. By the end of the program, you’ll learn to aid decision-making and risk management strategies in your organization using your newfound predictive analysis toolkit.
Syllabus
Course 1: Foundations of Predictive Analytics: Regression and Classification
Learn how predictive analytics can be used to achieve business goals, drive decision-making, and develop customized strategies with IE University.
Course 2: Predictive Analytics for Business Planning: Time-Series Forecasting
Explore methods of estimating future business outputs based on historical data and gain a holistic view of using predictive analytics in business with IE University.
Courses
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The course provides practical guidance on implementing predictive analytics to achieve business goals. You will explore the different stages of a data analytics pipeline, including data collection, data cleaning, and data analysis.
You will discover how regression analysis can be used to identify relationships between variables for business decision-making and find out how sales data is used to probe customer behavior ahead of further analysis. You will also learn how to estimate relationships between variables with regression analysis and review whether a regression model meets specified business success criteria. Lastly, you will delve into the value and practical considerations of using classification models to customize business strategies.
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This course aims to provide you with a robust understanding of forecasting and predictive analytics. You will gain the knowledge and skills necessary to apply these techniques in real-world scenarios, while identifying the challenges of changing processes and supporting stakeholders during transitions. You’ll also be guided on the methods of estimating future business outputs based on historical data and unpack ways that businesses can use forecasting techniques to gain insight into future demand. You will discover how to use time-series forecasting to better anticipate future trends. You will develop a holistic approach to using predictive analytics in business, considering the different stages of a data analytics pipeline, and learn how to use predictive models to support strategic decision-making. The factors for successful deployment of a predictive model, data quality, governance, and stakeholder buy-in will also be analyzed.
Taught by
Dr. Rafif Srour Daher
Tags
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