beverly wright, executive director, business analytics center, georgia institute of technology at...
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www.scheller.gatech.edu/bac
Solving for Why:Impact of Machine Learning on Business Decision-Making
Beverly Wright, PhD, CAPExecutive DirectorBusiness Analytics Center
www.scheller.gatech.edu/bac
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2Overview
Application of Machine Learning for Business Questions
Closing Remarks
Defined: Machine Learning
Reasoning: hypothesis vs data initiation points
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3Vision
The Vision of the Business Analytics Center, Georgia Tech:
To be a nationally recognized Center in business analytics, sought-after partner for business analytics opportunities and challenges, renowned for our emphasis on experiential learning and innovative research.
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4Definition: machine learning
“constructing algorithms that can analyze and learn from data in order to categorize such data and make related predictions.
“…it’s about enabling computers to learn things they have not necessarily been programmed to learn.”
http://www.cc.gatech.edu/research/machine-learning
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5Hypothesis vs Data Driven Analytics Initiation
Business question / Hypothesis / Data / Testing / Confirm / Deny / Conclusion / Action
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6Hypothesis vs Data Driven Analytics Initiation
Data / Patterns / Optimal Method / Conclusion / Action
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7Efficiencies we can gain…
Data initiated approach
• Supervised• Unsupervised
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8Illustration: flip flop wearing
Process –
• Identify important variables
• Grouping variables – keep and redundancy
• Relationships• Transformations• Techniques
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@GeorgiaTechBsch 05/03/2023
Examples from Business
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10Reservation CancellationsMeaning of cancellation
Factors to consider• Traveler• Purpose• Weather• Location
Possible analytics methods
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11Home Auctions
Number of bids, views, page hits, sale
LocationHome qualityInventoryBuyerMacroeconomics
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12Influencing / Encouraging Altruistic BehaviorBehaviors• Types of altruism• Frequency• Intensity
Volunteer & Organization:Identification
Attributes Interactions and communications
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@GeorgiaTechBsch 05/03/2023
The Future for Machine Learning
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15
“We don’t all have to become data scientists in order to work with the machine. The machine needs to become more human and work with us”
KRIS HAMMOND
CHIEF SCIENTIST, NARRATIVE SCIENCE
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Some people don't like change, but you need to embrace change if the alternative is disaster.
~ Elon Musk
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@GeorgiaTechBsch 05/03/2023
Business Analytics CenterLearn More
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18Upcoming Event: Business Analytics Think Tank Roundtable –Use and Impact of Artificial Intelligence in Analytics
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19Executive Education
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Thanks
Business Analytics CenterBeverly Wright, PhD, CAPExecutive Director