Nobody knows what will happen in the future. But with the right predictive analytics tools, we can create valuable forecasts. In fact, without predictive analysis, business and society would grind to a halt.
Data-based forecasting drives much of our modern lives from healthcare, manufacturing, fraud detection, retail, and finance to the ubiquitous suggestions we all see on Amazon and Netflix.
Predictive analysis isn’t new, but “it’s a technology whose time has come,” says an SAS article. Advances in software, computing power, artificial intelligence, and machine learning make collecting, warehousing, and processing the enormous volume of data possible. Large or small, any business not harnessing this opportunity is at a competitive disadvantage.
Predictive analysis is no longer the realm solely of mathematicians and statisticians. Nonetheless, using predictive analytics tools requires a fundamental understanding of the concepts, methods, and application of those tools. The Kelley School of Business designed the Predictive Analytics Digital Badge program for just that purpose.
What Is A Digital Badge?
A digital badge is an authenticated digital marker representing specific skills or competencies. Badges appear as icons or logos on websites, social media, portfolios, and other online platforms. The Educause Learning Initiative describes earning a digital badge as demonstrating “completion of a project, mastery of a skill, or marks of experience.” Metadata attached to each badge specifies criteria for earning the badge. Students can display their digital badge on their LinkedIn profile, resume, and other online platforms.
Programs that award digital badges help you acquire new skills and knowledge for your career toolbox. They are also stackable and can be applied toward earning a full degree.
Predictive Analytics for Business Applications Digital Badge
The Predictive Analytics for Business Applications: Fundamentals of Data Analytics Executive Education Digital Badge Program from the Kelley School provides a solid foundation in the tools and techniques of predictive analysis.
The course starts with the basics, working through the process of defining project goals and what questions the data will inform. Next is the crucial step of data preparation and cleaning, including strategies for missing values, outliers, and skewed distributions.
With a clear goal defined and a clean dataset prepared, students then examine the appropriate analytical techniques to employ. Methods studied throughout the course include linear regression, logistic regression, discriminant analysis, principal component analysis, cluster analysis, and neural networks. Students work with these methods using various software platforms, including R and Excel.
Course Outline and Learning Outcomes
The Predictive Analytics Digital Badge program consists of 10 weekly webinars containing practical exercises and quizzes. Earning the badge requires that participants pass eight of the ten quizzes with a score of 80% or better, complete four homework assignments, and pass the final exam.
Topics covered include:
- Introduction to Data and Predictive Analytics
- Introduction to R and R Studio
- Prepping Data for Analysis
- Data Visualization
- Linear Regression Models
- Logistic Regression Models
- PCA, Factor Analysis, and Cluster Analysis
- Neural Networks and K-nearest Neighbors
After ten weeks of study, students will have proven competencies for constructing, validating, and interpreting data mining and predictive analytics models employing large datasets. They can apply these skills to solve business problems in marketing, finance, and operations.
Students can display their digital badge on their LinkedIn profile, resume, and other online platforms.
Learning Assurance Exam and Stackable Credits
Upon successful completion, students can take an Assurance of Learning exam for an additional fee. Passing the exam affords participants 3 credit hours they can apply to Kelley School’s Business Analytics Certificate program. Upon successful completion, students can apply the Business Analytics Certificate to any online Kelley Executive Degree MS or MBA program.
The Predictive Analytics for Business Digital Badge program is a flexible, affordable way for participants to “test drive” their interest and capabilities working with the latest predictive analytics tools and techniques. They can apply their skills immediately in the business world or continue their studies in the lucrative and high-demand field of data analytics.