Week 1
Time to get started! This week, you’ll get introduced to the course and its organization,
and then we’ll jump right into classification models, including a couple of basic machine
learning algorithms. We’ll als
...
Week 1
Time to get started! This week, you’ll get introduced to the course and its organization,
and then we’ll jump right into classification models, including a couple of basic machine
learning algorithms. We’ll also cover some cross-cutting concepts about data, scaling,
and model validation.
1. Introduction
1.1 (C): Introduction to Analytics Modeling
Hi, welcome to Introduction to Analytics Modeling, Georgia Tech's course ISYE6501. I'm
Joel Sokol, director of the Master of Science in Analytics degree at Georgia Tech and a
professor in Georgia Tech's Stewart School of ISyE.
In my research and consulting, I've used analytics in a lot of different ways to help a lot
of different people. I've worked with medical doctors and airline pilots, newspaper
recyclers and investors, human resource specialists and lab managers. My analytics
solutions have been used by professional sports teams, major manufacturers, and the
world's busiest airport, and they've provided insights to the United States military and
the largest energy company in the world.
In almost all of that work, a critical key to success has been analytics modeling,
selecting and specifying the right analytics model or models to combine into a solution,
compiling, building, and/or forecasting the necessary data sets, and then interpreting
the model's output to make suggestions that match the organization's needs, priorities,
and structure.
And that's what this course is about. As the name says, it's an introduction to analytics
modeling. Analytics can help answer lots of important types of questions. It can answer
descriptive questions , questions that ask for explanations of what happened, like:
● How much effect did a new system for scanning carry-on luggage have on
airport security wait times?
● When did the reliability of a critical component of a piece of manufacturing
equipment drop below an acceptable level?
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● Which sets of customers are most alike in their buying patterns? And what
factors are most important in determining customer similarity?
● Is a new medical treatment better than what's currently being used?
Analytics can also answer predictive questions , questions that ask what's going to
happen in the future:
● How much worldwide demand will there be for crude oil next year, or five or ten
years from now?
● What will Google's stock price be a year from now, and how much uncertainty is
there in that estimate?
● How likely is it that a person with certain characteristics will eat in my restaurant
chain if I send him a coupon or vote for the political candidate I support or click
on a specific banner ad on a website?
And analytics can also answer prescriptive questions , questions that ask what action
or actions would be best:
● How should traffic lights be timed and synchronized to minimize delays
downtown when there's a major sporting event?
● When and where should giant oil tankers make pickups and deliveries all around
the world?
● What strategies can an airline use to get passengers to their destinations quickly
before, during, and after a big snow storm?
Finally, sometimes analytics is useful for answering even more general questions, like:
we just installed technology to track all kinds of detailed information that we never had
before so how do we monetize it? How can we use that data to create value for our
company? We'll talk about all of these types of questions as we go through the course
in both discussions of when analytics can help you answer them and in lessons on how
to use analytics models and methods to help find the answers you're looking for.
In addition to viewing lessons from me, you'll have a chance to contribute your own
thoughts and ideas too as part of the discussion forums, the team-based homework
assignments, and the peer grading process.
As we go through the course, if you get confused or you're not sure you understand
what I am saying, please ask. Asking questions is one of the best ways to really learn
something, and the discussion forums are a great place both to ask questions and to
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discuss answers with your fellow learners. So please take advantage of the 1
opportunity.
1 As is the student-run Slack!
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1.2 (C): Introduction to the Course
In the first part of the course, the largest part will be focused on knowledge building:
what you need to know, to be succ
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