advanced predictive analytics
DESCRIPTION
Advanced Predictive Analytics. Prof Sunil Wattal. Introductions Intro to Data Analytics Course Logistics Overview of Topics Setting up SAS EM. Agenda. McKinsey Report s hortage of 1.5 million analytics individuals in US. Data Analytics. Big Data market size ~ $7billion in 2012 - PowerPoint PPT PresentationTRANSCRIPT
Advanced Predictive Analytics
Prof Sunil Wattal
Agenda
Introductions
Intro to Data Analytics
Course Logistics
Overview of Topics
Setting up SAS EM
Data Analytics
McKinsey Report◦shortage of 1.5 million analytics individuals in
US
Data Analytics
Big Data market size ~ $7billion in 2012◦40% growth rate
Big DataWhat is a quintillion?
90% of world’s data generated in last 2 years
Where does Big Data come from?
Data Analytics Examples
Google: Targeted AdvertisingBank: Default PreventionCall Centers: Speech recognitionPharma: Salesforce planningNetflix: Recommendations, Planning
ContentWalMart: Inventory Planning
Examples
Example : Twitter Analytics
Examples: Quantitative Insights : Klout
Regression
Most common statistical method
Impact of one or more variables (independent variable) on some outcome (dependent variable)
Applications: promotional response, price elasticity
Logistic Regression
Regression analysis with the outcome is a categorical variable
Can calculate the odds ratio / probability of an event happening
Examples: Likelihood of winning an election, likelihood of winning a game
Web Analytics
Is your website working hard enough?
What metrics can help you answer that?
Web Analytics Metrics
Neural Networks
Neural Networks are analytic techniques modeled after the (hypothesized) processes of learning in the cognitive system and the neurological functions of the brain
Advanced data mining tools used where other techniques do not product satisfactory results
Example: coors tested the relation between chemical composition of beer and its taste
Visualization
How can you represent hundreds of tweets
Dealing with Data
Variable selectionModel assessmentModel scoring
Twitter Analytics
Qualitative Analytics – Stream Graphs
Organizational Buy-In
Strategic Alignment
Technology and Infrastructure
Multi-channel analytics
Concerns about Big Data
Widespread trackingPrivacyFalse positives‘Bad’ customners
Questions