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Foundations of Business Analytics: Prescriptive Analytics

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About Course

In this course, learners will explore the principles and methods of prescriptive analytics, a crucial aspect of business analytics that enables organizations to make optimal decisions. Through a combination of lectures, case studies, and practical exercises, students will learn how to apply advanced analytical techniques to recommend actions and solve complex business problems.

Disclaimer
This course is under the Public Resource Learning (PRL) programs on Future Syllabus. Learn more.

What Will You Learn?

  • Define prescriptive analytics and its role in business decision-making
  • Apply optimization techniques, such as linear and integer programming
  • Use simulation modeling to analyze complex systems and uncertainty
  • Implement decision analysis methods, including decision trees and sensitivity analysis
  • Evaluate and recommend solutions using multi-criteria decision-making techniques

Course Content

Course Content

  • Welcome
    01:48
  • What you should know
    01:07
  • A tale of two Companies
    05:17
  • Understanding prescriptive analytics
    07:40
  • Exploring the analytics taxonomy
    02:42
  • Looking at traditional data warehousing
    05:15
  • Exploring traditional business intelligence
    03:10
  • Understanding DWBI shortcomings
    04:28
  • Exploring big data
    07:38
  • Understanding the power of today’s advanced analytics
    03:58
  • Avoiding problems with big data and analytics
    05:50
  • Exploring the essential workflow for prescriptive analytics
    04:03
  • Collecting and processing data
    03:53
  • Beginning the workflow with event detection
    03:13
  • Categorizing events
    05:17
  • Processing and acting on events
    03:49
  • Looking at event processing examples
    02:56
  • Applying analytical models
    04:04
  • Differentiating different categories of hypotheses
    03:36
  • Building the business hypothesis clearinghouse
    03:47
  • Taking preliminary action on business hypotheses
    06:34
  • Comparing prescriptive, descriptive, and predictive analytics
    03:19
  • Understanding data correlation, analytics, and hypotheses
    03:54
  • Adding depth and breadth to enrich our analytics
    05:24
  • Managing high-velocity hypotheses
    02:17
  • Proving or disproving a business hypotheses
    08:25
  • Taking action based on a proven hypothesis
    10:14
  • Taking action based on a disproven hypothesis
    08:32
  • Taking action based on timer expiration
    03:57
  • Selling prescriptive analytics to your organization
    03:38
  • Using simple questions to sell prescriptive analytics
    06:19
  • Building the prescriptive analytics roadmap
    05:10
  • Training business users in prescriptive analytics
    07:06
  • Next steps
    01:48

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