This course offers an introduction to predictive analytics based on the techniques used in Big Data analysis and Business Intelligence. Participants will learn how to apply predictive analysis tools to forecast financial and economic variables in a variety of contexts using a range of statistical techniques. Predictive analytics techniques can be used for decisions ranging from testing for fraud to optimizing pricing and revenues. Participants will discuss and build hands on tools for use in a variety of settings
Course Objectives
By the end of the course, the participants will be able to:
- Discuss an overview of Big Data and Business Intelligence for those lacking a background in the area
- Identify the role of predictive analytics in business settings today.
- Describe at a high level the theory behind predictive analytics and the settings in which the tools are useful
- Explain the advantages and disadvantages of predictive analytics techniques
- Build predictive analytics models using fixed effects analysis, random effects analysis, logit models, and censored Tobit models
Suggested Prerequisites: None
Program Level:Intermediate
Advance Preparation: Working Knowledge of Excel
Computers and Financial Calculators: Computers
Recommended CPE Credits: 7