Course Catalog
Advanced Business Analytics
95-866
Units: 6
Description
In this course, we will be studying useful probability/statistical models that can be applied in business practice to perform consumer behavior analysis. In particular, we will focus on three key aspects of user (or product) behavior: timing processes, counting processes, and choice processes. The first will focus on the timing of a user doing something (when a user will churn from a firm, when a product will drop out of bestseller list, when a user will adopt a new product, and so on). The second will focus on how many items are purchased or how many users are adopting and so on. The third focuses on which product is chosen out of a number of choices.
With each lecture, we will be using real world datasets to apply the learning in lectures to a practical problem facing a manager. Students will store datasets and retrieve the relevant information before any analysis can be performed.
Learning Outcomes
By the end of course, students are expected to be able to
- identify the appropriate mathematical model for the consumer behavior under study (survival model, count model, or choice model.)
- build the model of consumer behavior,
- apply the model to data to test the accuracy and perform necessary tweaks, and
- based on the model constructed, predict outcome change in response to firm strategy
Prerequisites Description
None, apart from the Knowledge Pre-requisites.