DSC 433/533 - Data Mining
Computer-based collections of data are widely used to support managerial decision-making, and in recent years technology advances have seen such data collections increase both in size and complexity. Large collections of data, however well structured, may contain concealed patterns of information that cannot be readily detected. Nevertheless, managers must learn how to leverage this information to make profitable business decisions. Over time, firms rely increasingly upon fact-based decision making approaches, requiring that managers understand how to develop defensible business proposals based on both spreadsheet and database analysis.
This course examines the business case for the use of data-driven analytical tools for enhancing decision-making and managing risk. By understanding and applying appropriate business models and data-driven analytical tools, we learn how analysts and managers can uncover new strategies for serving customers and increasing profits. We will investigate the effectiveness of data-analysis techniques that are considered useful in business applications, and, in particular, the applicability of data mining and other "knowledge discovery" methods. The course website is here.