Applications Open now for September 2024 Batch | Applications Close: Sep 15, 2024 | Exam: Oct 27, 2024

Applications Open now for September 2024 Batch | Applications Close: Sep 15, 2024 | Exam: Oct 27, 2024

Diploma Level Course

Business Analytics

The problems faced by decision makers in today’s business environments are extremely complex. Hence, the task of making good decisions is not easy. The answer is in building quantitative models, and this course is designed to help you understand the fundamentals of this critical, foundational, business skill. The business application of statistical methods is the core focus of this course. In that sense, the course builds on the core course in the first year of the program. That basic course focused on the preliminaries of the area. This course highlights a business application and then demonstates an application of a statistical techique to solve that scenario and arrive at the best decisions and insights.

by Rahul R Marathe

Course ID: BSMS2002

Course Credits: 4

Course Type: Data Science

Pre-requisites: BSMS2001 -  Business Data Management

What you’ll learnVIEW COURSE VIDEOS

At the end of the this course, the students will be able to apply various statistical techniques to solve various business problems.
Extrapolate using various techniques and with statistical robustness.
Build data-centric business models.

Course structure & Assessments

8 weeks of coursework, weekly online assignments, 2 in-person invigilated quizzes, 1 in-person invigilated end term exam. For details of standard course structure and assessments, visit Academics page.

WEEK 1 Data dashboarding Insights from data summary
WEEK 2 Can summarizing the data provide insights?
WEEK 3 Do people in different cities prefer different brand?
WEEK 4 Predicting the stock returns – Regression basics
WEEK 5 How do you pay a professor? – Regression diagnostics - Path variables
WEEK 6 Can I cure cancer? – Logistic Regression - Connection with classification problem
WEEK 7 What is the impact of repeatedly watching the same ad? Repeated measures ANOVA
WEEK 8 When the data has a time axis: Time series modeling
+ Show all weeks

Prescribed Books

The following are the suggested books for the course:

SF Robert E Stine and Dean Foster, Statistics for Business: Decision Making and Analysis, Pearson.

NCT Paul Newbold, William L. Carlson and Betty Thorne, Statistics for Business and Economics, Sixth Edition, Pearson.

ASW David R. Anderson, Dennis J. Sweeney and Thomas A. Williams, Statistics for Business and Economics, Ninth Edition, Cengage Learning.

Keller Gerald Keller, Managerial Statistics, 9 Edition, Cengage Learning.

LR Richard Levin and David Rubin, Statistics for Management, Seventh Edition, Pearson.

About the Instructors

Rahul R Marathe
Professor, Department of Management Studies, IIT Madras

Rahul R Marathe is a Associate Professor at IIT Madras in the Department of Management Studies. He obtained his Ph. D and M.S from Iowa State University in Industrial Engineering and Statistics, and his B.E in Production Engineering from Mumbai University.