harnessing data analytics and optimization

... Industry understanding in the past – BI-DWH is about bank profitability & risk, retention and acquisition, not just reporting – Understanding your customer (customer data) , automation and integration ... Data Warehouse Enabling Analytics to Provide Business Insight What is Data Warehouse? Definitions “A Data Warehouse is a subjectoriented, integrated, time-variant, nonvolatile collection of data ... understand what is being done with their products and services and how they impact a customer’s life and lifestyle • Accelerate decision time make analytic-based decisions in seconds and pervasive...

Ngày tải lên: 20/12/2013, 17:15

... 80 100 120 33 EXAMPLE 3: ORANGE JUICE brand1=rep(1,121) brand2=rep(2,121) brand3=rep(3,121) brand=c(brand1,brand2,brand3) xyplot(logmove~week|factor(brand),type= "l",layout=c(1,3), + col="black") ... boxplot(logmove~brand ,data= oj) histogram(~logmove|brand ,data= oj,layout=c(1,3)) densityplot(~logmove|brand ,data= oj,layout=c(1,3), + plot.points=FALSE) densityplot(~logmove,groups=brand ,data= oj,plot.points=FALSE) ... collecting and analyzing data for better decision making in business Managers and business students can gain a competitive advantage through business analytics and data mining Most tools and methods...

Ngày tải lên: 05/05/2014, 13:27

... report and how to best divide it into sections; the computer outputs you need to include (or exclude); and the audience for whom you are writing and what level of detail they will demand or comprehend ... writing and then worry about improving it with careful editing later  Edit and proofread  The secret of good writing is rewriting  Use spell checkers and grammar checkers  Given enough time and ... Executive summary  Problem description  Data description  Statistical methodology  Results and conclusions  Give yourself enough time  Get started early, and don’t worry if your first effort...

Ngày tải lên: 10/08/2017, 10:35

... collect huge amounts of data  Technology has given more people the power and responsibility to analyze data and make decisions  A large amount of data already exists and will only increase in ... important themes run through this book:  Data analysis—includes data description, data inference, and the search for relationships in data  Decision making—includes optimization techniques for problems ... two separate fields: statistics and management science  Statistics is the study of data analysis  Management science is the study of model building, optimization, and decision making  Three important...

Ngày tải lên: 10/08/2017, 10:35

... HyTex data  Solution: Data set contains data on 1000 customers of HyTex, a fictional direct marketing company  Designate the data set as a table by selecting any cell in the data set and clicking ... accessible website, in whole or in part Data Sets, Variables, and Observations  A data set is usually a rectangular array of data, with variables in columns and observations in rows  A variable ... of StatTools and use it to generate summary measures of baseball salaries  Solution: First, define a StatTools data set, by selecting any cell in the data set and clicking the Data Set Manager...

Ngày tải lên: 10/08/2017, 10:35

... smoking and drinking  Solution: Data set lists the smoking and drinking habits of 8761 adults  Categories have been coded “N,” “O,” “H,” “S,” and “D” for “Non,” “Occasional,” “Heavy,” “Smoker,” and ... in part Stacked and Unstacked Formats  There are two possible data formats, stacked and unstacked  The data are stacked if there are two “long” variables, such as Gender and Salary The idea ... duplicated, or posted to a publicly accessible website, in whole or in part Stacked and Unstacked Data Stacked Data Unstacked Data © 2015 Cengage Learning All Rights Reserved May not be scanned, copied...

Ngày tải lên: 10/08/2017, 10:35

... Random numbers generated with Excel’s RAND function are said to be uniformly distributed between and because all decimal values between and are equally likely  These uniformly distributed random ... different bottom-line results  The key to simulating random variables is Excel’s RAND function, which generates a random number between and  It has no arguments, so it is always entered: © 2015 ... Generating Random Market Returns in Excel (slide of 2) Generate the random market returns by referring the random numbers in column A to the lookup table Enter the formula: in cell B13 and copy...

Ngày tải lên: 10/08/2017, 10:35

... in part Standardizing: Z-Values  The standard normal distribution has mean and standard deviation 1, so it is denoted by N(0,1)  It is also referred to as the Z distribution  To standardize ... to many data sets:  About 68% of the data fall within one standard deviation of the mean  About 95% fall within two standard deviations of the mean  Almost all fall within three standard deviations ... This is true even if the random variables are not independent  If X1 through Xn are n independent and normally distributed random variables with common mean μ and common standard deviation σ, then...

Ngày tải lên: 10/08/2017, 10:35

... yield false positives, and 7% of all tests on drug users yield false negatives  Let D and ND denote that a randomly chosen athlete is or is not a drug user, and let T+ and T- indicate a positive ... EMVs and the optimal decision:  Starting from the right of the decision tree and working back to the left:  At each chance node, calculate an EMV—a sum of products of monetary values and probabilities ... monetary values—payoffs and costs—into utility values  An individual’s utility function specifies the individual’s preferences for various monetary payoffs and costs and, in doing so, it automatically...

Ngày tải lên: 10/08/2017, 10:35

... simple random sample of size 10 from this frame  To this, first generate a column of random numbers in column F using the RAND function  Then, sort the rows according to the random numbers and ... population distribution with mean μ and standard deviation σ, the sampling distribution of the sample mean X is approximately normal with mean μ and standard deviation σ/√n, and the approximation improves ... of being chosen  Simple random samples are the easiest to understand, and their statistical properties are the most straightforward  There are several ways simple random samples can be chosen,...

Ngày tải lên: 10/08/2017, 10:35

... which means that some type of random mechanism must generate the data  Two random mechanisms are generally used:  Random sampling from a larger population  Randomized experiments  Generally, ... confidence interval for the mean difference between husbands’ and wives’ ratings of sales presentations  Solution: A random sample of husbands and wives are asked (separately) to rate the sales presentation ... mean satisfaction rating of the new sandwich  Solution: A random sample of 40 customers who ordered a new sandwich were surveyed Each was asked to rate the sandwich on a scale of to 10  The results...

Ngày tải lên: 10/08/2017, 10:35

... A histogram of the sample data is compared to the expected bell-shaped histogram that would be observed if the data were normally distributed with the same mean and standard deviation as in the ... scatterplot of the standardized values from the data set versus the values that would be expected if the data were perfectly normally distributed  The Q-Q plot for the Width data in Example 9.7 ... to know whether the demands for Windows and Mac laptops are related in any way  Big Office has daily information on categories of demand for 250 days, with each day’s demand for each type of computer...

Ngày tải lên: 10/08/2017, 10:35

... of regression analysis: to understand how the world operates and to make predictions  Two basic types of data are analyzed:  Cross-sectional data are usually data gathered from approximately ... called the standard error of estimate and is denoted se  It is essentially the standard deviation of the residuals  It is given by this equation:  The usual empirical rules for standard deviation ... hours and production runs  Solution: Select Regression from the StatTools Regression and Classification dropdown list Then choose the Multiple option and specify the single D variable and the...

Ngày tải lên: 10/08/2017, 10:35

... Height, and the explanatory variables are Right and Left, the length of the right foot and the left foot, respectively  Simulation is used to generate a hypothetical data set of heights and left and ... Own Home, and Married, have p-values well above 0.05 and are obvious candidates for exclusion  Exclude variables one at a time, starting with the variable that has the highest p-value, and rerun ... predictions, calculate standard errors of prediction  Standard error of prediction for a single Y:  This error is approximately equal to the standard error of estimate  Standard error of prediction...

Ngày tải lên: 10/08/2017, 10:35

... next—are random  This type of behavior is typical of stock price data and other similar data  The equation for the random walk model is shown below, where m (mean difference) is a constant, and et ... et is a random series (noise) with mean and a standard deviation that remains constant through time  A series that behaves according to this random walk model has random differences, and the ... Objective: To fit a linear trend line to monthly population and examine its residuals for randomness  Solution: Data file contains monthly population data for the United States from January 1952 to December...

Ngày tải lên: 10/08/2017, 10:35

... Basics and 1200 XPs   Each labor hour for assembling costs $11 and for testing costs $15 Each Basic sells for $300 and each XP for $450 The cost of component parts for a Basic is $150 and for ... 10,000 assembly hours and 3000 testing hours available Each Basic requires five hours for assembling and one hour for testing, and each XP requires six hours for assembling and two hours for testing ... Introduction  Spreadsheet optimization is one of the most powerful and flexible methods of quantitative analysis  One specific type of optimization, linear programming (LP), is...

Ngày tải lên: 10/08/2017, 10:35

... peak-load and off-peak periods  The daily demand for power during each period (in kwh) is related to price as follows:  Here, Dp and Pp are demand and price during peak-load times, and D0 and P0 ... relates workforce and production decisions to monthly costs, and to find the minimum-cost solution that meets forecasted demands on time and stays within limits on overtime hours and production ... demands as forecasts and solve for a four-month model with these forecasts  Implement only the month production and work scheduling recommendation  Next, observe month 1’s actual demand and...

Ngày tải lên: 10/08/2017, 10:35

... part Excel’s RAND Function  To generate a random number equally likely to be anywhere between and 1, enter the formula =RAND() into any cell  Press the F9 key to make it change randomly  The ... Each cell in the body of the data table shows a simulated profit for a particular replication and a particular order quantity, and each is based on a different random demand  By averaging the numbers ... Examples 15.1 and 15.2  Assume now that Walton estimates a triangular probability distribution for demand, where the minimum, most likely, and maximum values of demand are 100, 175, and 300, respectively...

Ngày tải lên: 10/08/2017, 10:35

... month, the previous month, and two months ago, with weights 0.2, 0.6, and 0.2:  Materials and labor needed to produce a month’s sales must be purchased one month in advance, and the cost of these ... iterations to 1000 and the number of simulations to 1, and then run the simulation as usual  After running the simulation, obtain the histograms of the number of batches required and the number ... normally distributed with the means and standard deviations given in the table below  Each month Entson incurs fixed costs of $250,000  In March, taxes of $150,000 and in June taxes of $50,000 must...

Ngày tải lên: 10/08/2017, 10:35