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1 Introduction

This document provides an introduction and overview for the course ISOM3360 Data Mining for Business Analytics. The instructor is Yi Yang and the course will consist of 18-19 lectures, 10 lab sessions using Python for hands-on problem solving, 2 assignments, a team project, a midterm exam, and a final exam. Course materials will be provided on Canvas and will include 3 textbooks. Grading will be based on labs, class participation, homework, a group project, midterm exam, and final exam. The goal of the course is to teach machine learning models and analytical thinking through business examples, with a focus on hands-on experience through lab sessions.

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56 views23 pages

1 Introduction

This document provides an introduction and overview for the course ISOM3360 Data Mining for Business Analytics. The instructor is Yi Yang and the course will consist of 18-19 lectures, 10 lab sessions using Python for hands-on problem solving, 2 assignments, a team project, a midterm exam, and a final exam. Course materials will be provided on Canvas and will include 3 textbooks. Grading will be based on labs, class participation, homework, a group project, midterm exam, and final exam. The goal of the course is to teach machine learning models and analytical thinking through business examples, with a focus on hands-on experience through lab sessions.

Uploaded by

gbdgkmbn8c
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 23

ISOM3360 Data Mining for Business Analytics

Introduction

Instructor: Yi Yang

Department of ISOM

Spring 2023
Welcome

q Course information

2
About me

q Instructor: Yi Yang, Assistant Professor, ISOM

q Research interests: machine learning

q Ph.D. from Northwestern University

q Taught at UIUC for two years

q Worked at IBM Research and Amazon

q Consulting for hedge fund on fintech

q Teaching ISOM 3360, 3370, 5270


3
Course information

q 18~19 lectures

q 10 lab sessions

q Hands-on problem solving using Python

q 2 assignments

q 1 team project (3~4 person per group)

q 2 exams: Midterm exam (tentatively Mar 22,


7:00pm-8:30pm); Final exam (TBD)
4
Course material

q All the materials (e.g., lecture slides, readings)


will be posted on Canvas course website.

q Data Mining for Business Analytics: Concepts, Techniques, and


Applications in R, by Galit Shmueli, Peter C. Bruce, Inbal Yahav, Nitin R.
Patel, Kenneth C. Lichtendahl

q Data Science for Business: What you need to know about data mining
and data-analytic thinking, by Foster Provost, Tom Fawcett

q Learning Data Mining with Python, by Robert Layton

5
Grading components

q Lab 5%

q Class Attendance/Participation 10%

q Homework Assignments 15%

q Group Project 20%

q Midterm Exam 20%

q Final Exam 30%

6
q Instructor: Yi Yang
q Email: [email protected] Begin subject: [ISOM3360]

q Office Hours: by appointment

q Teaching Assistant: Sophie J Gu


q Email: [email protected]

q Office Hours: By appointment

7
Academic integrity

8
Questions

9
You may have heard of these

Big Data
Artificial
Intelligence
Data
Mining Data
Science

Machine Python
Learning

10
11
Data mining
Every two days now we create as much information as we did from the
dawn of civilization up until 2003, and the pace is accelerating.
- Eric Schmidt, Former Google CEO

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Data mining

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Data mining

q Unstructured data (images, audio, text)

q Structured data

14
Data mining

q Finding patterns in large amount of data, using


machine learning methods, for actionable
insights
15
Business Intelligence pyramid

Decision making and


strategic planning

Data Mining

Data retrieval and


aggregation

Data management
and Storage

16
An Example: Customer Retention

q Which customers should they target with a special offer,


prior to contract expiration?

17
Traditional Solutions

q Offer incentives to every customer before contract


expires, or may be use descriptive analysis to tailor the
incentives

q Contact each customer to probe propensity to


terminate contract

q Send offer to customers with high contract value

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Data mining solution

q Data and machine learning can tell us more specifically


the propensity of each customer leaving the contract,
as learned from historical data.

q Moreover, which products or discounts to offer to each


customer.

q Or even tell us what time of day and what medium to


use to reach them.

19
The virtuous circle

20
Data mining ethical concerns

q Personal data privacy.


q EU General Data Protection Regulation (GDPR)

21
Course objective

q You will learn


q Various machine learning models

q Hands on experience by lab practice


q Analytical thinking by various business examples

q You will not learn


q Data warehousing, Database, big data techniques

q Business/Managerial planning
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