MDP on Predictive Analytics for Business Decision Making

Faculty member(s) offering the MDP
Dr. Srilakshminarayana.G

Area: Cross Functional with emphasis on Statistical Techniques

Objectives of the MDP

  1. To introduce various predictive analytic techniques and discuss their relevance in business decision making.
  2. To provide hands-on experience on applications of predictive analytical techniques with emphasis on futuristic predictions.

Topic Coverage / Outline

  • Simple linear regression, Multiple linear regression, Polynomial Regression– Under this, the discussion will be on application of the methods for making predictions. For example, customer satisfaction, employee satisfaction, order quantity etc. These methods help one to understand the impact of various factors on future predictions.
  • Logistic regression, Probit regression– Under this, the discussion will be on application of the methods for classification of outcomes. For example, to predict whether the customers will be happy or not given the additional features to the existing product, Will the employees will be happy or not given the changes in the HR policies and facilities, Are the suppliers happy given changes in various aspects related to supply chain etc. These methods will help one to classify the target groups based on various choices.
  • K-means clustering and Hierarchical clustering– These methods will help one to group/segment the target individuals into homogenous groups. For example, segmenting the customers based on their preferences into groups, will help one to position their products appropriately and will help one to predict on the behaviour of the customers, Grouping the employees based on their satisfaction levels towards various HR policies and predict their behaviour etc.

Pedagogy

  • Classroom sessions
  • Interactive activities/ games/ role plays
  • Case Studies

Participants Expected Profile:

  • Exposure to basic statistical methods.
  • Experience on using Excel.

Fees Proposed per participant

Rs 3,000