ECON 32400 - Foundations Of Business Data Analytics

An introduction to several core concepts and techniques of business data analytics, a field that is broadly defined as the process of using data to create insights for better decisions. The course covers three types of analytical methods and models. Descriptive analytics focuses on using data to describe what has already happened. Predictive analytics focuses on using data to explore relationships between variables and predict what may happen in the future. Prescriptive Analytics focuses on using optimization and simulation to indicate what course of action to take.

Preparation for Course
P: ECON 27000 or STAT 12500 or STAT 30100 or POL 39500 with grade of C- or better, or consent of department.

Cr. 3.
Student Learning Outcomes
1. Select, manage, and manipulate data appropriately for use in statistics and analytics.
2. Produce and interpret tables, charts, and analyses to describe data.
3. Develop, perform, and evaluate hypothesis tests.
4. Quantify relationships in data by estimating regression models and interpreting the results.
5. Employ regression models for simple prediction and time series forecasting.
6. Utilize nonparametric methods, control charts, and decision trees as decision-making aids.