Using Predictive Data Analysis
The sheer variety of sources and types of data that can aid in decision making are almost overwhelming. The key to making good use of the data lies in knowing what specifically to pay attention to, understanding the relationships and variables among the data, and making the right connections.
Experience is essential to knowing and making educated guesses about what requires attention. Familiarity with statistical methods will provide you with a significant advantage over relying on gut instinct alone.
In this course you will learn to identify uncertainty in a business decision, and to choose variables that help reduce uncertainty. By the end of this course, you will have a robust decision model that you can use to make predictions related to your decision. Along the way, you will clarify and enhance your understanding of the factors that influence possible outcomes from the decision.
Who Should Take this Course?
This course is appropriate for anyone from analyst to the SVP with no background in statistics. It is designed for individuals who need to perform analysis to support decision making. The course content draws on examples across all business types.
Participants who complete this course will be able to...
- Determine the degree of uncertainty in your decision and determine the impact of this uncertainty
- Identify data relationships to reduce uncertainty
- Create a regression model that looks at attributes of variables driving the decision
- Refine your regression model to improve its validity
- Create a convincing argument for the validity of your model
- Make a prediction or an estimate using your model
- Chris Anderson, Ph.D., Associate Professor , School of Hotel Administration, Cornell SC Johnson College of Business
Estimated Hours to Complete Course: 9.0
About the School of Hotel Administration at the Cornell SC Johnson College of Business
The School of Hotel Administration at the Cornell SC Johnson College of Business is shaping the global knowledge base for hospitality management through leadership in education, research, and industry advancement. Accredited by the Association to Advance Collegiate Schools of Business (AACSB), the school provides management instruction in the full range of hospitality disciplines, educating the next generation of leaders in the world's largest industry. Founded in 1922 as the nation's first collegiate course of study in hospitality management, the Cornell School of Hotel Administration is recognized as the world leader in its field.