Introduction to the Course

Predictive analytics uses technology to predict the future and influence it. Organizations can use historical performance data to extrapolate and make predictions about the future and take actions that would affect those results. This course builds upon the knowledge acquired from the earlier course descriptive analytics. Descriptive basically deals with the past data present it in summary form along various business dimensions.

Predictive analytics uses the past data and projects to the future using various mathematical / Statistical models. In a nutshell descriptive analytics explains what has happened in the past where as predictive analytics explains what is likely to happen in future

IDC research shows that:

• The Return on investment of business analytics so where that incorporate predictive analytics is about 250% significantly higher than 89% ROI that focus on descriptive analytics
  
• Benefits of the predictive analytics are sustained over long periods
  
• Investment in predictive analytics continue at a healthy pace
  

Predictive Analytics incorporate mathematically oriented techniques such as decisions trees , discriminate  analytics , rule inductance , segmentation techniques to discover in data to  make predictions

 

Course Objectives

1. Expose the learners to real life industry cases with data based approach at the center.
   
2. To provide Hands on experience of working on s/w like SPSS, R etc. while applying various statistical techniques used for prediction & forecasting.
   
3. To develop the skill of learners to forecast & develop predictive models for higher business efficiency and effectiveness.
   
4. To improve the decision making skills of students.