15 July 2016
This course aims at getting hands-on experience in diverse managerial decision processes using available data. We will learn tools to discover patterns and relationships in data: explore, analyze and leverage data and turn it into valuable, actionable information for a company. Data are analyzed with various techniques, from visualization tools to modern data mining tools to extract information from them. We then use the information to support the decision making processes.
In the first week we consider real-life applications. Each of them is introduced by an expert in the field. The subjects are (possibly with minor changes):
1. Determining optimal contracts for mobile phones for a well-known mobile phone company.
2. Revenue management. How to determine the prices of airline tickets/hotel rooms etc. over time (for instance: does Ryan Air have an optimal policy for their ticket price system)
3. Text mining. Is it possible to scan websites to determine whether they are fraudulent or not?
4. Investment planning in the office market. Can we determine whether an investment in a office building is profitable or not, given the demand for offices.
5. Quality management. Analyze complaints of customers to improve the service level of a hotel from one of the famous hotel chains.
6. Market basket analysis. How do supermarkets use the information that is obtained from customer sales to increase their sales?
These subjects are introduced and then discussed using analysis and decision tools.
In the second week we treat the basics of business intelligence. We start with standard statistical techniques to analyze the data quick and dirty, and visualization tools. Then we treat the modern data mining techniques including regression, decision trees, and neural networks to extract information from the data and to base decisions on them. The set-up is two hours of theory and two hours of working on textbook cases.
Dr. Aida Abiad
There will be guest speakers from companies.
Basic statistics, algebra. Basic finance, marketing.
This course aims at getting hands-on experience in diverse managerial decision processes using available data.
EUR 800: Course fee including materials