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Unit of study_

QBUS6810: Statistical Learning and Data Mining

It is now common for businesses to have access to very rich information data sets, often generated automatically as a by-product of the main institutional activity of a firm or business unit. Data Mining deals with inferring and validating patterns, structures and relationships in data, as a tool to support decisions in the business environment. This unit offers an insight into the main statistical methodologies for the visualization and the analysis of business and market data. It provides the tools necessary to extract information required for specific tasks such as credit scoring, prediction and classification, market segmentation and product positioning. Emphasis is given to business applications of data mining using modern software tools.

Code QBUS6810
Academic unit Business Analytics
Credit points 6
Prerequisites:
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(ECMT5001 or QBUS5001 or STAT5003) and (a mark of 65 or greater in BUSS6002 or COMP5310 or COMP5318)
Corequisites:
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None
Prohibitions:
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None

At the completion of this unit, you should be able to:

  • LO1. know the statistical theory required for business data mining and data analysis
  • LO2. identify which statistical tool is most relevant for specific business analytic tasks
  • LO3. identify the advantages and limitations of each method
  • LO4. extract information from large volumes of data readily available from the business environment
  • LO5. obtain and interpret a meaningful analytical result using a software package such as Python
  • LO6. work productively in a team
  • LO7. present and write about findings effectively.