Business

Analytics and
Intelligence
Course Starting: 10 June 2018 (Batch 9)
Application Deadline: (Learn Analytics through
Early Decision (Round 1) - 20 February 2018 Case Studies)
Regular Decision (Round 2) - 31 March 2018

Certificate
The
theory of bounded rationality
proposed by Nobel Laureate
Programme on Herbert Simon is evermore
significant today with increasing complexity of
Business Analytics business problems; limited ability of human mind
to analyze the alternative solutions and the limited
and Intelligence time available for decision making. Introduction of
enterprise resource planning (ERP) systems has
Learn Analytics ensured availability of data in many organizations;
Through Case Studies however, traditional ERP systems lacked data
analysis capabilities that can assist the management
BATCH 9 (2018-19)
in decision making. Business Analytics is a set of
techniques and processes that can be used to
analyse data to improve business performance
through fact-based decision making. The role of
In God We Trust, analytics in solving business problems has increased
manifold in the recent years leading to increased
All Others Must
demand for Analytics and Big Data professionals.
Business Analytics and Business Intelligence creates
capabilities for companies to compete in the market
Bring Data effectively and has become one of the main functional
areas in most companies. Analytics companies
W Edwards Deming develop the ability to support their decisions through
analytical reasoning using a variety of statistical and
mathematical techniques. Thomas Davenport in his
book titled, “Competing on analytics: The new science
of winning”, claims that a significant proportion of
high-performance companies have high analytical
skills among their personnel. On the other hand, a
recent study has also revealed that more than 59%
of the organizations do not have information required
for decision making.
In a recent article1 based on a survey of nearly
3000 executives, MIT Sloan Management Review
reported that there is striking correlation between
an organization’s analytics sophistication and its
competitive performance. The biggest obstacle to
adopting analytics is the lack of knowhow about
using it to improve business performance. Business
Analytics uses statistical, operations research and
management tools to drive business performance.
Many companies offer similar kind of products and
services to customers based on similar design and
technology and find it difficult to differentiate their
product/service from their competitors. However,
companies such as Amazon, Apple, Facebook,
Google, HP, Netflix, Proctor and Gamble and Capital
One use analytics as competitive strategy. Business
Analytics helps companies to find the most profitable
customer and allows them to justify their marketing
effort, especially when the competition is very high.
For instance Capital One has managed a profit of
close to $1 billion in their credit card business in
the recent past, whereas many of their competitors
have shown a loss of several millions in credit card
business. The success of Capital One is attributed
to its analytical strength. There is significant evidence
from the corporate world that the ability to make
better decisions improves with analytical skills. This
course is designed to provide in-depth knowledge of
business analytical techniques and their applications
in improving business processes and decision
making.
1 M S Hopkins, S LaValle, F Balboni, N Kruschwitz and R
Shockley, “10 Insights: A First Look at the New Intelligence
Enterprise Survey on Winning with Data”, MIT Sloan
Management Review, Vol. 52, No. 1, 21–31, 2010. flow and other proprietary software.
Course Objectives
The course is designed to provide in-depth knowledge
of Analytics and Big Data tools and Techniques that
can be used for fact-based decision making and
problem solving using case studies based on Indian
companies. At the end of the course, the participants
will be able to:
• Understand the emergence of business analytics
and Big Data as a competitive strategy.
• Understand descriptive, diagnostic, predictive
and prescriptive analytics and their applications
in creating solutions and technologies.
• Analyse data using statistical, mathematical,
machine learning and deep learning techniques
and understand relationships between KPIs and
factors that influence KPIs.
• Learn data visualization and story telling through
data.
• Learn decision making tools/operations research
techniques.
• Learn machine learning algorithms such as
supervised, unsupervised, reinforcement and
evolutionary algorithms with applications using
case studies.
• Learn Artificial Intelligence with a special focus on
neural networks and deep learning algorithms.
• Use analytics in customer requirement analysis,
general management, marketing, finance,
operations and supply chain management.
• Understand sources of Big Data and the
technologies and algorithms for analysing Big
Data for inferences. Ability to analyse unstructured
data such as social media data and machine
generated data.
• Analyse and solve problems from different
industries such as manufacturing, service,
retail, software, banking and finance, sports,
pharmaceutical, aerospace, etc.
• Design and develop deployment strategies for
the analytical models developed.
• Hands-on experience with software such as
CPLEX, Microsoft Excel, LINDO, Qlik Sense,
Python, SAS, SPSS, R, Rattle, @ RISK, Tensor
 Key Takeaways
In October 2012, Harvard Business Review claimed
that “Data Scientists” will hold the sexiest job of the
21st century. The business analytics and intelligence
certificate programme will equip the participants with
analytical tools and prepare them for corporate roles in
analytics based consulting in marketing, operations,
supply chain management, finance, insurance and
general management in various industries.
Who should attend?
The course will benefit executives, project
leaders and senior managers working
in various sectors. The course is designed for
professionals who would like to improve ROI for their
companies using analytics.
Why IIMB?
IIMB is one of the first Institutes in the world to offer Business Analytics certificate course and the incoming
batch will be the 9th batch. IIMB faculty members have published more than 25 analytics case studies at
the Harvard Business Publishing a record for any Indian Institute. Students admitted to this group come
from different organizations and different geographical locations across the world making it a great learning
experience for students. Students get a chance to work on real world problems as part of the course.
Eligibility Criteria
The participants should have a Bachelor degree
in engineering/science/commerce or arts with
mathematics as one of the subjects during their
Bachelor’s programme. Preferable work experience
is 3 years, in exceptional cases applicants with less
than 3 years are admitted into the programme.
Course Content
The
course consists of ten modules
Selection Process and a project. The modules and
their contents are discussed in
Candidates will be short-listed for interview based
the following paragraphs. Case-based teaching will
on online aptitude test and their past academic
be used for all the modules using case studies from
performance, quality of work experience and fitness
IIMB, Harvard Business School (HBS), Darden, Ivey,
for analytics job. Interviews for early decision will be
and Kellogg. Significant proportions of the cases
conducted in March 2018 and interviews for normal
used in the course are published by IIMB faculty at
decision will be held in May 2018.
the Harvard Business Publishing. A few of them are
published by the students from the previous batches
based on their project work. IIMB distributes more
than 25 analytics cases on Indian and Multi-national
companies through Harvard Business Publishing
which are used by more than 250 Institutions across
more then 60 countries.
Module 1
Foundations of Date Science:
Data Visualization and Interpretation (6 Days)
The process of fact-based decision making requires
managers to know how to summarize, analyse,
conduct hypothesis tests, interpret and communicate
data using data visualization and descriptive statistics
techniques to facilitate decision making. Statistical
analysis is a fundamental method of quantitative
reasoning that is extensively used for decision making.
This module is aimed at providing participants with
the most often used methods of statistical analysis
along with appropriate statistical tests. The module is
oriented towards application without compromising
the theoretical aspects.
Foundations of Data Science Module Contents
• Introduction to data science; Different types
and scales of data (ratio, interval, nominal and
ordinal); Data summarization and visualization
methods; Tables, Graphs, Charts, Histograms,
Frequency distributions, Relative frequency
measures of central tendency and dispersion;
Box Plot; Chebychev’s Inequality.
• Data visualization and story telling with data.
• Basic probability concepts, Conditional
probability, Bayes Theorem, Probability
distributions, Continuous and discrete
distributions, Binomial Distribution, Uniform
Distribution, Exponential Distribution, Normal
distribution, Central Limit Theorem, Sequential
decision making, Decision tree
• Sampling and estimation: Estimation problems,
Point and interval estimates, Confidence Intervals
• Hypothesis testing: Constructing a hypothesis
test; Null and alternate hypotheses; Test Statistic;
Type I and Type II Error; Z test, t test, two sample
t tests; Level of significance, Power of a test,
ANOVA
• Test for goodness of fit, Non-parametric tests.
• Introduction to R and Python
Case Studies: 1. Central Parking Solutions Private
Limited (IIMB Case); 2. A Dean’s Dilemma: Selection
of Students for the MBA Program (IIMB Case).
 Module 2
Data Preprocessing and
Imputation (2 Days)
Quality of the data is important for
success of any analytics project.
Anecdotal evidence suggests that more
than 80% of time taken for an analytics
project is spent on data preparation
and data imputation. In this short
module, we will be discussing data
preparation and imputation techniques
before advanced analytics tools can be
applied.
Contents
Data Quality Check, data cleaning and
Imputation. K Nearest Neighbours
(KNN) algorithm for data imputation.
Case Study: Analytics in H R —
Predicting Job Acceptance (IIMB Case)
Module 3
Predictive Analytics: Supervised Learning Algorithms
(6 Days)
Predictive analytics model predicts occurrence of future events such
as demand for a product, revenue forecast, customer churn, employee
attrition, fraud, default in loan repayment, etc. based on historical data.
In many business problems, we try to deal with data on several variables,
sometimes more than the number of observations. Regression models
help us understand the relationships among these variables and how
the relationships can be exploited to make decisions using supervised
learning algorithms. Primary objective of this module is to understand
how regression and causal forecasting models can be used to analyse
real-life business problems such as prediction, classification and discrete
choice problems. The focus will be case-based practical problem-
solving using predictive analytics techniques to interpret model outputs.
The participants will be exposed to software tools such as MS Excel, R,
Python, SPSS, and SAS and how to use these software tools to perform
regression, logistic regression and forecasting.
Predictive Analytics Module Contents
• Regression model building framework: Problem definition, Data pre-
processing; model building; Diagnostics and Validation
• Simple linear regression: Coefficient of determination, Significance
tests for predictor variables, Residual analysis, Confidence and
Prediction intervals
• Multiple linear regression: Coefficient of multiple coefficient
of determination, Interpretation of regression coefficients,
Categorical variables, heteroscedasticity, Multi-collinearity, outliers,
Autoregression and Transformation of variables, Regression Model
Building
• Logistic and Multinomial Regression: Logistic function, Estimation of
probability using logistic regression, Deviance, Wald Test, Hosmer
Lemshow Test, Classification table, Gini co-efficient; Multinomial
logistic regression.
• Forecasting: Moving average, Exponential smoothing, Causal
models
• Application of predictive analytics in retail, direct marketing, health
care, financial services, insurance, supply chain, etc.
Case Studies: 1. Pricing of players in the Indian Premier League (IIMB
Case), 2. Package Pricing at Mission Hospital (IIMB Case), 3. Colonial
Broadcasting Company (HBS Case), 4. Pedigree vs Grit: Predicting
Mutual Fund Manager Performance (Kellogg Case), 5. Breaking Barriers –
Micro-Mortgage Analytics (IIMB Case), 6. A Game of Two Halves: In-Play
Betting in Football (IIMB Case); 7. HR Analytics – Predicting Probability of
Renege (IIMB Case), 8. Predicting Demand for Food at Apollo Hospital
(IIMB Case); 9. Predicting Earnings Manipulations by Indian firms using
machine learning algorithms (IIMB Case).
Module 4
Optimization Analytics (Prescriptive
Analytics (5 Days)
Optimization models are core tools used in
prescriptive analytics and are used in arriving at
optimal or near optimal decisions for a given set of
managerial objectives under various constraints.
Optimization techniques such as gradient descent
plays an important role in many machine learning
algorithms. Optimization is an integral part of
operations analytics with specific applications in
operations and supply chain management. The
objective of the module is to acquaint participants
with the construction of mathematical models
for managerial decision situations and use freely
available Excel Solver to obtain solutions and
interpret the results.
Optimization Analytics Module Contents
• Introduction to Operations Research
(OR), linear programming (LP), formulating
decision problems using linear programming,
interpreting the results and sensitivity analysis.
Concepts of shadow price and reduced cost.
• Multi-period LP models. Applications of
linear programming in product mix, blending,
cutting stock, transportation, transshipment,
assignment, scheduling, planning and
revenue management problems. Network
models and project planning.
• Integer Programming (IP) problems,
mixed-integer and zero-one programming.
Applications of IP in capital budgeting,
location decisions, contracts.
• Multi-criteria decision making (MCDM)
techniques: Goal Programming (GP) and
analytic hierarchy process (AHP) and
applications of GP and AHP in solving
problems with multiple objectives.
• Non-linear programming, portfolio theory,
gradient descent algorithm technique.
Case Studies: 1. Merton Truck Company (HBS
Case), 2. Supply Chain Optimization at Madurai
Aavin Milk Dairy (IIMB Case), 3. Red Brand
Canners (Stanford Case); 4. Managing Linen at
Apollo Hospitals (IIMB Case); 5. Case on Airline
Operations (IIMB Case).
Module 5
Stochastic Models (Reinforcement Learning
Algorithms with Applications in Marketing and
Retail Analytics (5 Days)
Stochastic models offer a powerful analytical approach to model
and examine complex problems in the domains of finance,
retail, marketing, operations and economics under uncertainty.
In management as well as in business, many measurements
change with time and are inherently random in nature. Stochastic
models can be used to model and measure changes in metrics
used for finance, marketing, operations, supply chain, etc. over
a period of time. The objective of this module is to provide an
introduction to stochastic processes and their applications to
business and management. Stochastic models are also the basis
for reinforcement learning algorithms.
Our approach will be non-measure theoretic, with an emphasis on
the applications of stochastic process models using case studies.
Stochastic Models Module Contents
• Introduction to stochastic models, Markov models,
Classification of states, Steady-state probability estimation,
Brand switching and loyalty modelling, Market share estimation
in the short and long run. Google’s ranking algorithm.
• Poisson process, Cumulative Poisson process, Applications
of Poisson and cumulative Poisson in operations, marketing
and insurance. Measuring effectiveness of retail promotions,
warranty analytics.
• Monte Carlo simulation.
• Reinforcement Learning Algorithms: Dynamic Programming;
Markov decision process, Applications of Markov decision
process in sequential decision making.
Case Studies: 1. Customer Analytics at Flipkart (IIMB Case),
2. Browser Wars: Microsoft Vs Netscape (Darden Case), 3.
Consumer Choices between House Brands and National Brands
in Detergent Purchase at Reliance Retail (IIMB Case), 4. MNB
ONE Credit Card Portfolio (Darden Case).
Advanced Analytics Modules (Modules 6, 7, 8, 9 and 10)
Advanced analytical tools will be taught in five modules. The
participants will be exposed to a complex decision making
scenario under uncertainty and how to deal with such problems
using advanced tools and Big Data. A dedicated module on
machine learning algorithms will expose the students to the recent
advancements in analytics and big data.
Discussion problems will be drawn from many sectors such as
finance, banking, insurance, IT, ITeS, retail, service, manufacturing,
pharmaceuticals, etc.

Module 6
(Advanced Analytics 1)
Data Reduction, Advanced
Forecasting and Operations
Analytics (5 Days)
• Principal component analysis,
Factor analysis, Conjoint analysis,
Discriminant analysis.
• Auto-Regressive Integrated
Moving Average (ARIMA) models,
ARIMAX.
• Supply chain analytics
• Six Sigma as a problem solving
methodology, DMAIC and DMADV
methodology, Six Sigma Tool
Box: Seven quality tools, Quality
function deployment (QFD),
SIPOC, Statistical process control,
Value stream mapping, TRIZ
• Lean thinking: Lean manufacturing,
Value stream mapping
Case Studies: 1. Apollo Hospitals:
Differentiation through Hospitality (IIMB
Case), 2. Dean’s Dilemma: To Admit
or Not to Admit (IIMB Case), 3. Dosa
King – A Standardized Masala Dosa for
Every Indian (IIMB Case), 4. Delivering
Doors in a Window – Supply Chain
Management at Hindustan Aeronautics
Limited (IIMB Case).
Module 7
(Advanced Analytics 2)
Big Data Analytics (2 Days)
Big Data is defined using volume of data,
velocity at which the data is created,
and variety in the data. Sources of Big
Data include social networks, telecom
and mobile services, healthcare and
public systems and machine generated
data. In this module, we introduce the
Big Data technologies and challenges.
Contents: Introduction to Big
Data; sources of Big Data; Big Data
technologies: Hadoop distributed
file system; Employing Hadoop
MapReduce; Statistical Analysis of Big
Data.
Module 8
(Advanced Analytics 3)
Machine Learning Algorithms
(3 Days)
This module introduces the participant
to machine learning algorithms such as
bagging and boosting, recommender
systems, clustering, text analytics,
spatio-temporal analysis, association
rule mining and Neural Networks.
Contents
• Introduction to machine learning,
different types of machine learning
algorithms.
• Recommender Systems,
Collaborative Filtering: Cosine
Similarity, Jaccard Coefficient.
Advanced recommender system.
• Bootstrap Aggregating (Bagging),
Random forest, Adaptive boosting,
gradient boosting
• Support vector machine and
Neural Network
Case Study: Predicting Earnings
Manipulation by Indian Companies
Using Machine Learning Algorithms
(IIMB Case).
Module 9
(Advanced Analytics 4)
Artificial Intelligence (3 Days)
• Introduction to neural networks; rule
based expert systems
• Introduction to artificial neural
networks (ANN); Neuron
computing element; Perceptron:
as
McCullogh-Pitts model; Back-
propagation algorithm; Multi-layer
Neural Networks
• Deep learning algorithms:
Convolutional networks; Recurrent
nets; Auto-encoders;
• Deep Learning Platform: H2O.ai;
Dato GraphLab; Tensor Flow
Module 10
(Advanced Analytics 5)
Analytics in Finance and Marketing
(5 Days)
• Dynamic pricing and revenue
management, high dimensional data
analysis, financial data analysis and
prediction.
• Survival analysis and its applications:
Life tables, Kaplan Meier estimates,
Proportional hazards, Predictive
hazard modelling using customer
history data
• Analytics in finance, Discounted cash
flows (DCF), Profitability analysis.
Asset performance: Sharpe ratio,
Calmar ratio, Value at risk (VaR),
Brownian motion process, Pricing
options and Black–Scholes formula
• Game theory: Two-person zero sum
game, dynamic games
• Analysis of unstructured data: text
mining and sentiment analysis,
analysis of machine generated data
Case Studies: 1. 1920 Evil Returns –
Bollywood and Social Media Marketing
(IIMB Case) 2. Markdown optimization
at Indian Retail Store (IIMB Case).
Course Evaluation Programme Directors
The
participants will be evaluated through
Professors U Dinesh Kumar, Ishwar Murthy and
take-home assignments and a project
Rajluxmi V Murthy
work. At the end of each module, the
participants will be given a take-home assignment that
should be completed and submitted within 5 weeks.
Course Project
Each participant should carry out an individual project
for 6 months based on a real-life problem/ data. IIMB
encourages students to publish cases studies based
on their course project. The following cases were
published by the previous batch students at Harvard
Business Publishing based on their project reports:
• A Dean’s Dilemma: Selection of Students for
the MBA Programme
• Consumer Choice between House Brands and
National Brands in Detergent Purchases at
Reliance Retail.
• Central Parking Solutions Private Limited.
• Breaking Barriers – Micro-mortgage Analytics
• Larson and Toubro – Forecasting Demand for
Spare Parts
• Marketing Head’s Conundrum
• HR Analytics at ScaleneWorks – Predicting
Renege
• Customer Analytics at Flipkart
• Customer Analytics at Bigbasket: Product
Recommendations
• Markdown Optimization at an Indian Retails
Store
• Predicting Earnings Manipulation by Indian
Firms using Machine Learning Algorithms
Previous batch students undertook projects with
organizations such as Apollo Hospitals, Aris Global,
Big Basket, BESCOM, BMTC, Central Parking
Solutions, Columbia Asia, Flipkart, Fortis Hospital,
Future Group, HP, IBM, KSRTC, L&T, Manipal
Healthcare Services PVT Ltd, Reliance Retail,
Reliance Trends, Shubham Housing Development
Finance, Spicejet, Toyota Kirloskar, Walmart,
UNICEF etc.
Project Timelines
The project report should be submitted by 15 May 2019.
The participants have to submit the project proposal by
31 January 2019. The projects will be supervised by an For any queries contact. Professor U Dinesh Kumar
IIMB faculty member. (Email: dineshk@iimb.ac.in)
Tentative Course Schedule
The course schedule is as follows. Modules 2, 4, 5, 6, 7, 8 and 9 are also available in the distance mode:

Programme Schedule
Module Dates Venue

Foundations of Data Science: Data

1 10-15 June 2018 IIM Bangalore
Visualization and Interpretation

2 Data Preparation and Imputation 7-8 July 2018 IIM Bangalore and Distance Mode

Predictive Analytics (Supervised

3 29 July-3 August 2018 IIM Bangalore
Learning Algorithms)

18-19 August 2018

Optimization Analytics (Prescriptive
4 IIM Bangalore and Distance Mode
Analytics)
7-9 September 2018

29-30 September 2018

Stochastic Models (Reinforcement
5 IIM Bangalore and Distance Mode
Learning Algorithms)
12-14 October 2018

Advanced Analytics 1 10-11 November 2018

Data Reduction, Advanced
6 IIM Bangalore and Distance Mode
Forecasting and Operations
Analytics
Advanced Analytics 2 (Big Data
7 1-2 December 2018
Analytics)
Advanced Analytics 3 (Machine
8 14-16 December 2018
Learning)
Advanced Analytics 4 (Artificial
9 18-20 January 2019
Intelligence)
10
Advanced Analytics 5 (Analytics in
Finance and Insurance)
Class timings: 9 am to 5.15 pm (IST)
23-25 November 2018
IIM Bangalore and Distance Mode
IIM Bangalore and Distance Mode
IIM Bangalore and Distance Mode
18-22 February 2019 IIM Bangalore
Programme Delivery Award of Certificate
The programme will be conducted live in the
A certificate of completion will be awarded by IIMB
classrooms at IIMB. The sessions will be beamed
to the participants at the end of the programme
instantaneously in India and abroad through Webex
upon successful completion of the programme
using video conferencing facilities that allows a large
satisfying the programme requirements.
number of geographically dispersed participants
to participate in highly interactive sessions with the
faculty. The system incorporates two-way data and Alumni
audio–video interactivity.
Successful completion of the programme also entitles
participants to be admitted to IIM Bangalore Alumni
Programme Fee Association.
Rs.6,50,000/- + GST (as applicable) per parti- Important Dates
cipant. The fee is payable in three installments as
Early Action: 20 February
per indicated schedule. The payment schedule is
Application 2018;
as follows:
Deadline: Regular Action: 31 March,
Rs. 2,50,000/- + GST I installment on 2018
admission Online Aptitude Early Action: 04 March 2018;
Rs. 2,00,000/- + GST II installment on or Test: Regular Action: To be declared
before August 4, 2018 Announcement of 31 March 2018;
Rs. 2,00,000/- + GST III installment Early Decision: Payment due: 14 April 2018
November 3, 2018 Announcement of 10 May 2018;
Please Note: *Please add GST at prevailing rates to the Regular Decision: Payment Due: 25 May 2018
programme fee.
Course
10 June 2018
commencement:
The Indian Institute of Management Bangalore (IIMB) has been ranked for the eighth successive
year as the No. 1 Business School in Central Asia by Eduniversal, a French Consultancy Group. IIMB has
been ranked No. 1 in the India Rankings 2016 in the Management Education category under the National
Institutional Ranking Framework (NIRF) by the MHRD. IIMB has also obtained the European Quality
Improvement System (EQUIS) accreditation awarded by the European Foundation for Management
Development (EFMD). Established in 1973, Indian Institute of Management Bangalore today offers a
range of post- graduate and doctoral level courses as well as Executive Education Programmes. With
a faculty body from amongst the best universities worldwide, Indian Institute of Management Bangalore
is fast emerging as a leader in the area of management research, education and consulting.

IIMB’s distinctive feature is its strong focus on leadership and entrepreneurial skills that are necessary
to succeed in today’s dynamic business environment.

IIMB has been ranked among the Top-70 global schools by the Financial Times Executive Education
Rankings 2017. Indian Institute of Management Bangalore is the only B-school from India to figure in
this elite list.

Registration

The organizations interested in nominating their

employees and individuals interested in the
programme may apply online.

Arun KR
Executive Education Programmes
Indian Institute of Management Bangalore
Bannerghatta Road, Bangalore 560 076

Phone: +91 - 80 - 26993660, 26993817

Fax: +91 - 80 - 2658 4004
Email: arun.eep@iimb.ac.in
Web: www.iimb.ac.in/eep

Participants interested in the programme may

contact IIMB at the above-mentioned address for
clarifications, if any. Once registration is accepted,
cancellation / refund queries and requests will not
be entertained.

INDIAN INSTITUTE OF MANAGEMENT BANGALORE

Bannerghatta Road, Bangalore 560 076