Predictive Analytics Course for Business Co-created with Alteryx
Data Wrangling, Classification, A/B Testing, Forecasting, Segmentation, Problem Solving, Classification Models, Clustering, Time Series Forecasting
ABOUT THIS PREDICTIVE ANALYTICS COURSE
The Predictive Analytics course for Business has been created for those who want to solve real-world business problems in the future.
The program consists of six parts: Problem-Solving with Advanced Analytics (you will learn analytical methodologies and get familiar with linear regression and multiple linear regression), Data Wrangling (working with different types of data), Classification Models (binary and non-binary), A/B Testing (creating, executing and analyzing A/B tests), Time Series Podcasting (ETS and ARIMA models, data forecasting), Segmentation and Clustering (finding patterns in data). The industry experts will teach you how to solve business problems. During the course, you will have their full support, as well as personal career coaching.
To enroll in the Predictive Analytics course, you should be familiar with algebra and descriptive statistics. You should also be fluent in Excel. SQL and Tableau might be some extra assets. The course takes approximately 3 months.
What is predictive analytics, exactly?
The vast majority of the data and information we use in business is based on events that have already occurred. After a transaction is completed, costs are recorded, and employee records are kept for those who have previously worked with us. We, on the other hand, are naturally curious about what lies ahead. How many sales can we expect in the next year? If we want to match that demand, how many items should we keep on hand?
Look for trends in our historical records and project them ahead to address these questions. Predictive analytics is the name given to this procedure.
How does predictive analytics work?
Predictive analytics may seem to have a profound understanding of what will happen in the future. On the other side, we may rapidly lose faith in a system if it is implemented incorrectly. Systemic processes and critical factors to success or failure are shared by all systems. Here’s a step-by-step breakdown:
- To discover statistical trends, we evaluate our current data.
- Using these patterns, we develop a set of rules, or a model, that defines how to use the patterns in new datasets.
- We then feed fresh data into the model, and the rules use that information to forecast what will happen in the future.
- Analyzing current consumer data, for example, we may discover that younger customers prefer items with more features, whereas older customers prefer things manufactured with better materials. We can use these patterns to apply rules to new customer answers as they are entered into our database.
In what fields does it play a significant role?
Predictive analytics may now be used in a wider variety of sectors and use cases thanks to this enhanced power and capability. Here are a few instances of what I’m talking about.
- Financing options One of the most significant aspects of investing is making predictions about stock prices and other financial metrics. There are a number of reasons why financial institutions are interested in preventing fraud, maximizing profits, and selling new financial products. Predictive analytics is useful in all of these situations.
- Retail and other businesses that cater to the general public. Retail and telecommunications companies employ similar algorithms to manage client connections. This information is known as “churn analysis,” and it’s an important part of the company’s overall strategy.
- Airlines. Airlines try to guess how many seats they will be able to fill, but they aren’t always right. Remember what we stated about dealing with ambiguity and inaccuracy in the workplace.
- Companies involved in transportation and logistics. Supply chains may benefit from predictive analytics, but we’re all too aware with the pitfalls of this approach.
Predictive analytics, in general, has greatly improved the efficiency of contemporary enterprises.
What are the benefits of obtaining a Predictive Analytics course?
Huge Job Openings & Closing the Skill Gap
The need for analytics specialists is growing, yet there is a severe shortage of qualified candidates. As a worldwide phenomenon, this may be seen in all corners of the globe. Despite the high demand for Big Data Analytics professionals, there are many positions that remain vacant owing to a lack of qualified candidates. An online certification course may teach you all you need to know for a career in this rapidly expanding field.
190,000 data analysts and 1.5 million leaders and analysts will be in short supply in the United States by 2018, according to McKinsey Global Institute research. An analytics workforce is concentrated in India, making it the world’s most populous country. As more multinational firms outsource their work, the shortage of data analytics skills is especially severe, and the demand for talent is likely to rise.
Because of the high demand for data analytics specialists, salaries are rising. For data analysts, the median annual income is $130,000, an increase of 4% over the previous year, according to the 2015 Skills and Salary Survey Report by cmo.com, released by the Institute of Analytics Professionals of Australia (IAPA). Big data analytics salaries in the UK are also on the rise, with a tendency toward positive and exponential development. According to Itjobswatch.co.uk, the typical income for big data analytics positions was £62,500 in early 2016, up from £55,000 in 2015. There has been a 13.63 percent increase in the median yearly wage since last year.
Big data analytics is a major focus for many businesses.
Almost seven out of ten of the world’s most successful companies place a high value on data analytics. Your job as a large data analyst is to analyze an enormous amount of data to get vital business insights that may have a major influence on a company’s policies and marketing initiatives. Only 9% of people in computer and math jobs were certified, according to the Bureau of Labor Statistics. If you want to be a success in this field, you need to master more than just the necessary abilities. Get certified so that you can climb above the rest of the pack and stand out from the crowd.
The ability to work in any industry
Having the ability to work in a variety of industries is a significant benefit for a data analytics specialist. Data analytics has a positive impact on every sector. After taking the Predictive Analytics course, Data analytics specialists are in great demand in the finance, healthcare, retail, logistics, and human resource management sectors. Analyzing the data from an AdWords campaign is a great way to help an online shop, for example, improve its marketing strategy. As a result, the merchant can identify what marketing was successful and what initiatives were not, and use that information to improve future efforts.
A better understanding of the subject matter in the real world
If you’ve ever wanted to learn from industry experts, e-learning is a great option. You’ll get the opportunity to interact with and learn about widely-used marketing tools. It’s very uncommon for web analytics students to obtain hands-on experience with real Google Analytics accounts, which they’ll need later in their careers as data analysts.
Approach to education with a plan
Learning data analytics in an orderly and logical way is made possible by taking structured certification courses. Having this framework in place while you’re learning is essential since the industry is so dynamic. It’s not enough to merely read a blog or watch a video to grasp how things function; you need to acquire hands-on experience.
The Global Business Analytics Market is expected to reach $71.1 billion by 2022! The average salary for jobs in Predictive Analytics is $183k.
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