BUA 6110G - Predictive and Prescriptive Analytics

Credits: 4

The goal of this course is to introduce students to the dual role and the dual benefit of dependence-focused multivariate statistical modeling techniques, commonly used in estimating the likelihood of outcomes of interest, and delineation of the key drivers of those outcomes. The former, often referred to as ‘predictive analytics,’ is focused on making forward-looking predictions, while the latter, commonly referred to as ‘prescriptive analytics,’ is geared at delineating and describing factors contributing to those predictions. The course is focused on developing rudimentary understanding of those two broad data analytical dimensions, and on introducing students to some of the more widely used predictive and prescriptive statistical techniques, including linear and logistic regression models, decision trees, as well as some of the more recent, machine learning focused techniques such as random forest.
Prerequisite(s): Grade of B or higher in BUA 5020G , Foundations of Statistical Analysis.