Business

Analytics – The
Science of Data
Driven Decision
Making

Programme Director
U Dinesh Kumar

Dates
6-11 July 2020

BUSINESS ANALYTICS, QUANTITATIVE TECHNIQUES

 Multiple linear regression: coefficient of multiple coefficient • Apollo Hospitals – Differentiation Through Hospitality.
Business Analytics – The Science of Data Driven of determination, interpretation of regression coefficients,
categorical variables, heteroscedasticity, multi-
• Consumer Choice Between House Brands and
National Brands in Detergent Purchases at Reliance

Decision Making collinearity, outliers, auto-regression and transformation

of variables. Business application of multiple linear
Retail.
• Breaking Barriers: Micro-mortgage Analytics.
regression in prediction and pricing problems.
Dates: 6-11 July 2020
Logistic Regression: Deviance, Wald’s test, likelihood
ratio test. Sensitivity, specificity, precision, F-score. Area Testimonial
In God We Trust, All Others Must Bring Data under receiver operating characteristic curve (AUC). The course was extremely valuable and window
- W Edwards Deming Applications of logistic regression in solving classification opener for me towards the world of Data Analytics.
problems: Sales propensity, employee attrition, marketing Coming from a Business and operation background,
The theory of bounded rationality proposed by Nobel Content effectiveness. the course gave an insight on the statistical methods,
Laureate Herbert Simon is evermore significant today The course is designed to provide in-depth knowledge application of Data modelling concepts and real life
Classification and Regression Trees (CART): case studies which i could relate to my field of work.
with increasing complexity of the business problems; of handling data and Business Analytics’ tools that can
Forecasting: Moving average, exponential smoothing, Prof. Dinesh was extremely knowledgeable on the
limited ability of human mind to analyze the alternative be used for fact-based decision-making using real case
Trend, cyclical and seasonality components, ARIMA subject and guided the class phenomenally. The
solutions and the limited time available for decision studies. Primary objectives of the course are:
(autoregressive integrated moving average). guest lecturers and industry interaction sessions are
making. Business Analytics is a multidisciplinary field 1. Understand the emergence of business analytics as a
that uses expertise such as statistical learning (SL), Application of predictive analytics in retail, direct equally commendable. Being a 6 day session, it gave
competitive strategy. a glimpse of the life at the IIMB campus. Over all it was
machine learning (ML), artificial intelligence (AI), deep 2. Learn to analyze data using statistical learning, artificial marketing, health care, financial services, insurance,
learning, computer science, information technology and supply chain etc. worth the time and effort.
intelligence and machine learning algorithms to enable Rajith Shankar,
management strategies to generate value and create data driven decision making. Ensemble Methods: Working for Al Futtaim Finance PVJSC, in Dubai,
wealth from data. Business Analytics is likely to become 3. Learn data visualization and storytelling through data. Introduction to ensemble methods, random forest and UAE as a Business Manager
one of the main functional areas in most companies. 4. Learn descriptive, predictive and prescriptive analytics boosting algorithms.
Analytics companies develop the ability to support their techniques and tools.
decisions through analytic reasoning using variety of 5. Learn to analyze data using supervised and Reinforcement Learning Algorithms:
statistical and machine learning techniques. Thomas unsupervised machine learning algorithms. Introduction to Reinforcement Learning: Markov
Davenport in his book titled, “Competing on analytics: 6. Use analytics in customer requirement analysis, chain and Markov Decision Process . Applications of PROGRAMME DIRECTOR
The new science of winning”, claims that a significant general management, manufacturing, marketing, reinforcement learning in brand switching and prediction.
proportion of high-performance companies have high finance, operations and supply chain management. U Dinesh Kumar
Prescriptive Analytics:
analytical skills among their personnel. 7. Analyse and solve problems from different industries Professor
Introduction to Operations Research (OR), linear
In an article1 based on a survey of nearly 3000 executives, such as manufacturing, service, retail, software, programming (LP), formulating decision problems using Decision Sciences and
MIT Sloan Management Review reported that there is banking and finance, sports, pharmaceutical, linear programming, sensitivity analysis: shadow price and Chairperson MBA (Business
striking correlation between an organization’s analytics aerospace etc. reduced cost. Multi-period LP models. Applications of Analytics)
sophistication and its competitive performance. The 8. Hands on experience with software such as Microsoft linear programming in product and revenue management Ph. D. (Mathematics), IIT Bombay,
biggest obstacle to adopting analytics is the lack Excel, Evolver, LINDO, SPSS, R, Python and other problems. India, 1994
of knowhow about using it to improve business proprietary software. M.Sc. (Applied Sciences - Operations
Multi-criteria decision making (MCDM) techniques: Goal Research), P.S.G College of Technology, Coimbatore,
performance. Business Analytics uses statistical, machine Who should attend? Programming (GP) and analytic hierarchy process (AHP)
learning, artificial intelligence, operations research and India, 1990 B. Sc., Coimbatore Institute of Technology,
In October 2012, Harvard Business Review claimed and applications of GP and AHP in solving problems with
management tools to drive business performance. Many India, 1987
that “Data Scientists” will be the sexiest job of the 21st multiple objectives.
companies offer similar kind of products and services to century. Anyone who is looking for “sexiest job” should Professor U Dinesh Kumar is a Professor in Decision
customers based on similar design and technology and attend this course. This short-duration programme will The following analytics cases studies published by IIMB Sciences at Indian Institute of Management Bangalore.
find it difficult to differentiate their product/service from equip the participants with analytical tools and prepare at the Harvard Business publishing will be used during Dr Dinesh Kumar has over 22 years of teaching and
their competitors. However, companies such as Amazon, them for corporate roles in analytics based consulting the short-duration programme in addition to several research experience. Prior to joining IIM Bangalore,
Google, HP, Netflix, Procter and Gamble and Capital in marketing, operations, supply chain management, examples from various sectors. Dr Dinesh Kumar has worked at several reputed
One uses analytics as competitive strategy. Business finance, insurance and general management in various Institutes across the world including Stevens Institute of
• Marketing Head’s Conundrum at WSES
Analytics helps companies to find the most profitable industries. The course is suitable for those who are Technology, USA; University of Exeter, UK; University of
customer and allows them to justify their marketing effort, • Package Pricing at Mission Hospitals
already working in analytics to enhance their knowledge Toronto, Canada; Federal Institute of Technology, Zurich,
especially when the competition is very high. There is a • Predicting earnings manipulations by Indian firms
as well as for those with analytical aptitude and would like Switzerland; Queensland University of Technology,
significant evidence from the corporate world that the through machine learning algorithms
to start new career in analytics. Australia; Australian National University, Australia and the
ability to make better decisions improves with analytical • Customer Analytics at Flipkart Indian Institute of Management Calcutta. He is the author
skills. Course Contents: • Customer Analytics at Bigbasket: Product of the best selling book titled, “Business Analytics - The
Recommendations Science of Data Driven Decision Making”, published by
Predictive Analytics using Supervised Learning
• Pricing of Players in the Indian Premier League. Wiley. Dr Dinesh Kumar has published 35 case studies at
1
M S Hopkins, S LaValle, F Balboni, N Kruschwitz and R Algorithms:
Simple linear regression: coefficient of determination, • A game of two halves: In-play betting in football. the Harvard Business Publishing on the use of Analytics
Shockley, “10 Insights: A First look at The New Intelligence
significance tests, residual analysis, confidence and • 1920 Evil Returns – Bollywood and Social Media by Indian and Multi-National Companies.
Enterprise Survey on Winning with Data”, MIT Sloan
Management Review, Vol. 52, No. 1, 21–31. prediction intervals. Marketing. Email: [email protected]
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