BUSINESS ANALYTICS: DECISION MAKING USING DATA

ONLINE CERTIFICATE COURSE

OBJECTIVE

The Business Analytics programme provides you with the tools you need to put data to work: how to set up experiments, how to collect data, how to learn from data and make decisions to how to navigate the organisational, legal and ethical issues involved in data-based decision making. The programme teaches widely-used frameworks of business analytics: biases, experimentation, descriptive analytics, prescriptive analytics, predictive analytics. Participants then implement the frameworks they have learned through assignments. You will join a global and diverse group of participants in the discussion boards where you share your perspectives on the issues being discussed with other participants and seek their views.

 

WHO IS THIS COURSE FOR?

This programme is designed for business managers across different functions who drive or intend to drive analytics projects at their organisation. It provides business managers with the tools needed to transform their organisation into a data-driven organisation. The assignments and cases in the programme focus on interpreting the results of analysis and taking decisions based on those analysis. This programme will also include the demonstration of some advanced analytics tools such as TensorFlow. This is not a coding course, rather an introduction to the many ways that business analytics tools and techniques can help make better decisions in a variety of situations.

 

WHAT ARE THE LEARNING OUTCOMES?

After completing this programme, you will be able to:

  • Recognize different types of biases that give way to bad decision making and learn how to overcome them
  • Ask the questions critical to your business and what data to collect to answer those questions
  • Learn about the sources of data, the intermediary software services that can fetch those data into your database, and then assess the quality of the collected data
  • Summarize the data and explain the reason(s) behind past events
  • Explore the possible benefits big data can bring for your business and be prepared for the challenges for such data
  • Devise the quickest and cost-effective ways of collecting the best possible data for decision making
  • Select the optimal machine learning algorithm to use in a business context to predict future outcome and make decisions based on your interpretation of the result of the analysis churned out by that model
  • Understand the usage of different types of neural networks in business situations
  • Prescribe the best course of actions for your business using the analytics methods that use past data, current performance, possible scenarios, and the resources at your disposal
  • Avoid making bad business decisions because of behavioral economic biases such as sunk cost fallacy
  • Deploy strategies to protect customer data and make them feel comfortable in sharing their data with you

Business Analytics: Decision Making Using Data - Certificate

 

EMERITUS and Cambridge Judge Business School

Founded in 1990, Cambridge Judge Business School is part of the Faculty of Business and Management at the University of Cambridge. The reputation of Cambridge Judge Business School has grown rapidly, and today it is internationally celebrated as a provider of stimulating management education, with a particular emphasis on entrepreneurship and innovation management.

Cambridge Judge Business School Executive Education offers a wide range of open enrollment and customised programs designed for organisations, business professionals, managers, leaders, and executives from many different functions. These programs are developed to help executives and organisations from both the private and the public sectors achieve operational excellence and results.

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Duration and Course Fee

  • Starts 19 September 2019
  • 3 Months
  • 4–6 hours per week
  • Course Fees USD 2,000

 

 

Faculty

Dr Nektarios (Aris) Oraiopoulos Dr Nektarios (Aris) Oraiopoulos
University Lecturer in Operations Management, Director of the MPhil in Strategy, Marketing & Operations Programme University of Cambridge Executive Education
Dr David Stillwell Dr David Stillwell
University Lecturer in Big Data Analytics & Quantitative Social Science Deputy Director of the Psychometrics Centre University of Cambridge Executive Education

SYLLABUS

  • Decision traps
  • Benefits of analytics
  • What is data mining?
  • Web scraping
  • Application Programming Interface (API)
  • What data can you find?
  • What do you think about the data you found?
  • Amazon and APIs
  • Data cleaning
  • Descriptive statistics
  • Normal and not normal distributions
  • Effect size and confidence intervals
  • What does Big Data mean to you?
  • Introduction to Big Data
  • What is Big Data?
  • Four Vs of big data – volume, variety, velocity and veracity
  • Challenges for big data
  • Big Data opportunities
  • The gold standard
  • Making experimentation work
  • Overcoming barriers
  • Machine learning vs hypothesis testing
  • Machine learning in practice
  • Model over-fitting
  • Machine learning algorithms
  • Supervised machine learning
  • Decision trees & random forest
  • Support vector machines
  • Hyperparameter optimisation
  • Ensemble methods
  • Interpret an analysis
  • Machine learning in the real world
  • Applications of neural networks
  • The biology of animal neural networks
  • Assumptions for neural networks
  • How a neural network makes predictions
  • Choosing the network architecture
  • Recurrent neural networks
  • Reinforcement learning for businesses
  • What is prescriptive analytics?
  • Connecting predictive analytics to a business objective
  • Deep dive into a business model
  • Making a business decision
  • Decision Trees
  • SmartService Case
  • Risk aversion
  • Sunk cost fallacy
  • Diversification
  • Decision making process and debiasing
  • Implementation challenges
  • Setting up the right infrastructure
  • Big data strategy
  • GDPR
  • Privacy and Anonymization
  • Hacking and insider threats
  • Making customers comfortable

PROGRAM HIGHLIGHTS

Decision Biases

Decision Biases

Identify the types of biases in a decision making process and learn how to ask for the right information

Descriptive Analytics

Descriptive Analytics

Be able to collect, clean, and describe the data you have, including the summary statistics

Big Data Opportunities

Big Data Opportunities

Identify what big data means to you and what you can do with it

Experimentation

Experimentation

Design experiments to gather meaningful data to make data driven decisions

Predictive Analytics

Predictive Analytics

Use machine learning tools/models, identify neural networks, and analyse data to optimize decisions for your business

Organisational, Ethical and Legal Issues

Organisational, Ethical and Legal Issues

Identify Organisational issues that you will need to consider when making decisions; identify the legal and ethical issues behind gathering, storing, and using data

CASE STUDIES

Hotel Industry

Hotel Industry

How does a hotel booking platform test whether advertising on its website works?

Netflix

Netflix

How Netflix used a competition to improve their search and recommendation algorithms

Art

Art

How do you use neural networks to train computers to replicate the styles of different artists?

London Time

London Time

How many fashion watches should LondonTime order before the selling season begins?

Cambridge Breakthrough Science (Biotech Company)

Cambridge Breakthrough Science (Biotech Company)

How do they decide which 2 of the 4 promising drugs can be developed further?

UPS

UPS

How their ORION inititiative allowed UPS to save an estimated $300-$400 million and led to a reduction of 100 million miles driven?

Google Oxygen

Google Oxygen

How Google used data to see whether managers matter?

ASSIGNMENTS

Carter Racing

Carter Racing

How does a car racing team decide whether to participate in a race or not?

SmartService (Scientific Instruments Company)

SmartService (Scientific Instruments Company)

How does SmartService use a decision tree to calculate their bid for a new contract?

TalkTalk

TalkTalk

What should TalkTalk have done differently after they were hacked? How should they have protected their customers’ data?

Duration and Course Fee

  • Starts 19 September 2019
  • 3 Months
  • 4–6 hours per week
  • Course Fees USD 2,000

 

 

Faculty

Dr Nektarios (Aris) Oraiopoulos Dr Nektarios (Aris) Oraiopoulos
University Lecturer in Operations Management, Director of the MPhil in Strategy, Marketing & Operations Programme University of Cambridge Executive Education
Dr David Stillwell Dr David Stillwell
University Lecturer in Big Data Analytics & Quantitative Social Science Deputy Director of the Psychometrics Centre University of Cambridge Executive Education

GET PROGRAM INFO

Take the first step to a Global Education

Your details will not be shared with third parties. Privacy Policy

Duration and Course Fee

  • Starts 19 September 2019
  • 3 Months
  • 4–6 hours per week
  • Course Fees USD 2,000

 

 

Faculty

Dr Nektarios (Aris) Oraiopoulos Dr Nektarios (Aris) Oraiopoulos
University Lecturer in Operations Management, Director of the MPhil in Strategy, Marketing & Operations Programme University of Cambridge Executive Education
Dr David Stillwell Dr David Stillwell
University Lecturer in Big Data Analytics & Quantitative Social Science Deputy Director of the Psychometrics Centre University of Cambridge Executive Education

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