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Business Analytics

Course Catalogue
Driven on R

Course Content of
Statistical Analytics

1. Random Variables, Probability Distributions

a. Motivate the use of statistical methods for managerial decision
b. Discuss the concepts of probability distributions and random
c. Review methods of representing data, pictorially and through
summary statistics
2. Properties of Normal Distribution
a. Introduce standard normal distribution
b. Discuss applications of normal distribution
3. Sampling Distributions and the Central Limit Theorem
a. Introduce the concept of statistical inference
b. Recognize the existence of sample-to-sample variations
c. Understand central limit theorem and its implications for statistical

4. Confidence Intervals (I)

a. Introduce the concept of confidence intervals as a way to make
statistical inferences
b. Calculate confidence intervals for population mean with known and
unknown population
5. Confidence Intervals (II)
a. Calculate confidence intervals for population proportions
b. Calculate confidence intervals for population variance
c. Quantify minimum sample sizes to achieve certain margin of error
in predictions
6. Hypothesis Tests (I)
a. Learn how to state null and alternative hypotheses
b. Understand type-I and type-II errors
c. Conduct one-sided hypothesis test for population proportion / mean

7. Hypothesis Tests (II)

a. Conduct two-sided hypothesis tests for population proportion / mean
8. Comparison of Two Populations
a. Compare the means using paired observations
b. Test for the difference of two population means using independent
c. Test for the difference of two population proportions

9. Analysis of Variance
a. Introduce Design of Experiments
b. Conduct one way Analysis of Variance (ANOVA)
10. Nonparametric Statistics
a. Introduce the notion of statistical tests on ordinal data
b. Test for the difference between mean ranks using paired observations
c. Compare mean ranks in two independent samples

11. Introduction to regression methods; Bivariate data; Scatter plot;

Covariance; Correlation coefficient; Uses and issues; Correlation and causality;
Linear regression; Assumptions.
12. Several regressors; Scatter plot matrix; Multiple linear regression;
Assumptions; Ordinary Least Squares method (OLS); Basic regression
summary; Interpretation of coefficient estimates, standard errors, t-values and
p-values, and adjusted ; ANOVA table; Basic tests.
13.Anscombes data sets; Need for deeper analysis; Residuals; Deletion
diagnostics; Added variable plots; Partial correlation; Model adequacy checks;
Plots Fitted values vs Residuals, Regressors vs Residuals, Normal probability

14. Problem of insignificance of important regressors Collinearity; Detection

correlation matrix, VIF, variance proportion s table; Remedies; subset
selection, best subset; Criteria R2, Adjusted R2, AIC, BIC, Mallows Cp

15. Ridge regression; Dummy variables; Transformations Power transformation,

Box-Cox transformation.

16. Heteroscedasticity; Possible causes; Detection graphical methods, formal

tests; Remedies Transformations, Adjustment to standard errors of OLS
estimates, Generalized least squares
17. Autocorrelation; Possible causes; Detection graphical methods, formal tests;
Remedies First differences, Adjustment to standard errors of OLS estimates,
Generalized least squares, Dummy variables and autocorrelation, forecasting in
the presence of autocorrelation.
18. Big data Regression analysis- R and Hadoop

19. Binary response; Linear Probability Model; Advantages and issues; Guidelines
for Linear Regression Modeling

20. Regression Models for count data

a. Generalized Linear Models
b. Binary and multinomial logistic regressions
c. Poisson regression
d. Zero-inflated Poisson regression
e. Negative Binomial regression
21. Missing Value Analysis
a. Missing value patterns: Missing completely at random (MCAR).
Missing at random (MAR). Missing not at random (MNAR)
b. List wise deletion. Pairwise deletion
c. Various imputation methods: Hot deck imputation. Mean
substitution. Regression imputation. EM imputation

22. Survival Analysis

a. Censoring and truncation. Characteristics of survival analysis
b. Time-to-event data. Hazard and survival functions
c. Kaplan-Meier estimate of survival function
d. Cox proportional hazards model (ph), estimation and its

analysis. Extensions
e. Stratified ph; ph with time-varying covariates
f. Parametric survival analysis with standard distributions
g. Accelerated failure time models

23. Design of Experiments

a. Basic concepts: randomization, replication and control
b. Experimental design for testing differences in several means:
Completely randomized and randomized complete block designs.
Cross-over designs
c. Two-level factorial experiments---full and fractional. Plackett-

Burman designs
d. Designs for three or more levels. Taguchi designs. Response
surface designs
e. Case-Control designs for campaign evaluation
f. Designs for conjoint analysis


Course Content of
Forecasting Analytics


1. Introduction to forecasting; Types and methods; Exploring data patterns

2. Forecasting techniques; Forecasting error; Forecasting adequacy
3. Components of time series; Trend and seasonal adjustments; Smoothing
4. AR and MA models

5. The Box-Jenkins (ARIMA) Methodology

6. Simple Linear Regression; Model fitting and forecasting
7. Multiple Regression Models; Model fitting and forecasting
8. Forecasting binary outcomes; logistic regression; Growth models
9. ARCH and GARCH; and Nonlinear models

Course Content of
Data Mining


Data Mining -1 (Unsupervised Learning)

1. Basic matrix algebra
2. Introduction to data mining

3. Dimension reduction techniques: Principal component Analysis(PCA)

4. Singular Value Decomposition (SVD)
5. Association rules
6. Sequential pattern mining
7. Recommender Systems (collaborative Filtering)
8. Network Analytics: Degree centrality, Closeness Centrality etc.
9. Cluster Analysis- Application on segmentation, anomaly detection
10. Hierarchical clustering and K-means clustering with various distance
measures and for continuous/ categorical variables


Data Mining-2 (Supervised Learning)

11. Overview of machine learning/supervised learning
12. Data exploration methods: Understanding data(distributions, visualizations),
Data nuances, data transformations
13. Basic classification algorithms
a. Version spaces and decision trees classifier

b. K-Nearest Neighbors and Parzwen window

c. Bayesian classifiers: nave Bayes and other discriminant classifiers
d. Perceptron and Logistic regression
e. Neural networks
14. Advanced classification algorithms
a. Bayesian Networks
b. Support Vector machines

15. Model validation and interpretation

16. Multi class classification problem
17. Bagging(random forest) and Boosting( Gradient Boosted Decision Trees)
18. Regression Analysis
19. Recommendation engines
20. Information retrieval

21. Practical tips in modeling: Bias vs trade off, Feature engineering and
incorporating domain knowledge.


Course Content of
Data Visualization


PART 1: NodeXL focused

1. 3 important principles of Visualization
2. Lie Factor
3. Using consistent scales
4. Presenting data in the context
5. Data-ink ratio

6. Tuftes Graphical Integrity Rules

7. Tuftes Principles for Analytical Design
8. Various chart junks & how to avoid chart junks
9. Dashboards Good, Bad & Ugly
10. Affordance Theory


PART 1: NodeXL focused

11. Network theory using NodeXL
a. Degree (In-degree, Out-degree)
b. Centrality (Closeness, Betweeness, Eigenvector)
c. Grouping / Clustering
d. Facebook network hands-on

12. Big data visualization problems


PART 2: Tableau focused

1. Introduction to the various file types
2. How to access help
3. Quick introduction to the user interface in Tableau
4. How to connect to the data sources
5. How to join the various data sources

6. How to create data visualization using Tableau feature Show Me

7. Reorder & remove visualization fields
8. How to sort & filter data
9. How to create a calculated field
10. How to perform operations using cross-tab


PART 2: Tableau focused

11. Working with workbook data & worksheets
12. How to create a packaged workbook
13. Creating various charts such as
a. Heat map
b. Box and Whisker plot

c. Pareto chart, etc.

14. Creating maps & setting map options
15. Creating dashboards & working with dashboard


Thank You