Predictive Analytics

Catalog description

In most business situations, being able to determine, with reasonable accuracy, the value of some unknown can be beneficial. For example, it would be useful for a company to know if a prospective customer would default on payments (classification), or to know the number of units of a product that it might be able to sell during the next quarter at a given store (regression). Quite often, even seemingly inaccurate estimates of such unknowns can lead to large monetary gains for a company if the new knowledge can lead to a discernable difference in performance. This is the domain of predictive modeling – using historical data to determine the value of an unknown. The course covers both classification and regression techniques. The course will equip participants with the ability to identify situations that could benefit from predictive models, to identify the data requirements and work with others to obtain the data, to manipulate the data into a form usable for predictive analysis, and to build, evaluate, present and deploy the models.