The results are in: data modeling is mission-critical for achieving success in today’s competitive business environment. All kinds of organizational challenges can now be solved (and even anticipated) by simply looking at the data that’s all around us. Say you want to identify which cost drivers most affect revenue or understand which customers are most likely to upgrade or which lots should be adjusted to avoid waste.
A well-constructed model will provide you with the much-needed insights that can ultimately help your organization make more strategic, informed decisions. And the most successful models are those that originate with data mining.
Noted author, applied statistician and data modeling expert Dick De Veaux says preparing your data for analysis is just as important as the analysis itself. Figure out which data are relevant. Identify trends you need to further explore with data visualization. Sift through the extraneous information to pull only the most important variables into an analysis and eliminate missing values before they become problematic.
De Veaux presents a series of cross-industry case studies that showcase the ways in which successful models helped drive real improvements. You will learn how to:
- Identify the relationships and correlations in your data set that have implications for your work.
- Explore your data and prepare data sets for analysis.
- Design the methodology that best fits the data you have available.
- Turn predictive analytics from a job requirement to a professional advantage.