Interest in big data analytics has skyrocketed recently. The recent explosion in large-scale high-resolution data enables managers to ask and answer questions regarding businesses and consumers at a whole new level. Managers are faced with data about businesses and consumers that are growing faster than they can be utilized. Data mining enables business to extract useful consumer behavior and preferences from seemingly tremendous and unorganized data, which then can be utilized for data-driven decision-making and competitive advantage. Applications can be found in e-commerce, sales, marketing, finance, operations, etc. In this hands-on introductory class, you will learn the basic concepts and techniques of data mining in addition to when and how they can be applied to improve many aspects of business and consumers' welfare. We will discuss the marvelous power of data mining concepts and tools applied to data via troves of current real-world examples, such as recommender systems, customer segmentation, etc. Throughout the course, we will use R, a powerful open-source statistical language and one of the main tools in data mining and business analytics, fast becoming a mainstream tool. With this tool, you will learn about variety of exploratory and predictive data analytics techniques such as Naïve Bayes classifier, nearest neighbor approaches, decision trees, clustering algorithms, etc.
Lecture: 100min/wk and Recitation: 50min/wk