Prescriptive and Predictive Analytics module (BU51039)

Explore the principles and methods of predictive and prescriptive analytics, by using them together you will develop relevant skills in statistical modelling and how to choose relevant forecasting models. Use machine learning techniques and corresponding applications to help solve a variety of business related decision problems.

This module provides you with the tools to transform data into actionable insights, fostering growth and innovation which will help you make informed decisions and boost your problem solving skills.

What you will learn

In this module, you will:

• explore and prepare data
• optimisation techniques
• decision support systems
• analyse scenarios and create simulations
• consider the ethical issues and limits of analytics

By the end of this module, you will be able to:

• describe and use CART (Classification and Regression Trees), KNN (K-Nearest Neighbours) and Random Forests algorithms
• choose between different kinds of applications to create simulation to solve complex business problems

Assignments / assessment

Class test (40%)

• 1 hour in length

Assignment (60%)

• 2,000 words
• 30 hours of effort expected

This module does not have a final exam.

Teaching methods / timetable

You should expect weekly lectures and in-person tutorials and be expected to have completed the reading and tasks in preparation of contributing to the class.