Essentials of business analytics / Jeffrey D. Camm [and six others].

By: Camm, Jeff, 1958- [author]
Language: English Publisher: Stamford, CT : Cengage Learning, [2015]Copyright date: c2015Edition: [First Edition]Description: xix, 675 pages : illustrations ; 26 cmContent type: text Media type: unmediated Carrier type: volumeISBN: 9781285187273 (student edition : alk. paper)Other title: Essentials of business analytics : descriptive, predictive, prescriptive [Cover title]Subject(s): Data mining. | Data visualization | Industrial management -- Statistical methods -- Computer programs | Microsoft Excel (Computer file) | Decision making -- Computer programsDDC classification: 658.4033
Contents:
Machine generated contents note: ch. 1 Introduction -- 1.1.Decision Making -- 1.2.Business Analytics Defined -- 1.3.A Categorization of Analytical Methods and Models -- Descriptive Analytics -- Predictive Analytics -- Prescriptive Analytics -- Analytics in Action: Procter & Gamble Uses Business Analytics to Redesign its Supply Chain -- 1.4.Big Data -- 1.5.Business Analytics in Practice -- Financial Analytics -- Human Resource (HR) Analytics -- Marketing Analytics -- Health Care Analytics -- Supply Chain Analytics -- Analytics for Government and Nonprofits -- Sports Analytics -- Web Analytics -- Summary -- Glossary -- ch. 2 Descriptive Statistics -- Analytics in Action: U.S. Census Bureau -- 2.1.Overview of Using Data: Definitions and Goals -- 2.2.Types of Data -- Population and Sample Data -- Quantitative and Categorical Data -- Cross-Sectional and Time Series Data -- Sources of Data -- 2.3.Modifying Data in Excel -- Sorting and Filtering Data in Excel -- Conditional Formatting of Data in Excel -- 2.4.Creating Distributions from Data -- Frequency Distributions for Categorical Data -- Relative Frequency and Percent Frequency Distributions -- Frequency Distributions for Quantitative Data -- Histograms -- Cumulative Distributions -- 2.5.Measures of Location -- Mean (Arithmetic Mean) -- Median -- Mode -- Geometric Mean -- 2.6.Measures of Variability -- Range -- Variance -- Standard Deviation -- Coefficient of Variation -- 2.7.Analyzing Distributions -- Percentiles -- Quartiles -- z-scores -- Empirical Rule -- Identifying Outliers -- Box Plots -- 2.8.Measures of Association Between Two Variables -- Scatter Charts -- Covariance -- Correlation Coefficient -- Summary -- Glossary -- Problems -- Case: Heavenly Chocolates Web Site Transactions -- Appendix: Creating Box Plots in XLMiner -- ch. 3 Data Visualization -- Analytics in Action: Cincinnati Zoo & Botanical Garden -- 3.1.Overview of Data Visualization -- Effective Design Techniques -- 3.2.Tables -- Table Design Principles -- Crosstabulation -- PivotTables in Excel -- 3.3.Charts -- Scatter Charts -- Line Charts -- Bar Charts and Column Charts -- A Note on Pie Charts and 3-D Charts -- Bubble Charts -- Heat Maps -- Additional Charts for Multiple Variables -- PivotCharts in Excel -- 3.4.Advanced Data Visualization -- Advanced Charts -- Geographic Information Systems Charts -- 3.5.Data Dashboards -- Principles of Effective Data Dashboards -- Applications of Data Dashboards -- Summary -- Glossary -- Problems -- Case Problem: All-Time Movie Box Office Data -- Appendix: Creating a Scatter Chart Matrix and a Parallel Coordinates Plot with XLMiner -- ch. 4 Linear Regression -- Analytics in Action: Alliance Data Systems -- 4.1.The Simple Linear Regression Model -- Regression Model and Regression Equation -- Estimated Regression Equation -- 4.2.Least Squares Method -- Least Squares Estimates of the Regression Parameters -- Using Excel's Chart Tools to Compute the Estimated Regression Equation -- 4.3.Assessing the Fit of the Simple Linear Regression Model -- The Sums of Squares -- The Coefficient of Determination -- Using Excel's Chart Tools to Compute the Coefficient of Determination -- 4.4.The Multiple Regression Model -- Regression Model and Regression Equation -- Estimated Multiple Regression Equation -- Least Squares Method and Multiple Regression -- Butler Trucking Company and Multiple Regression -- Using Excel's Regression Tool to Develop the Estimated Multiple Regression Equation -- 4.5.Inference and Regression -- Conditions Necessary for Valid Inference in the Least Squares Regression Model -- Testing for an Overall Regression Relationship -- Testing Individual Regression Parameters -- Addressing Nonsignificant Independent Variables -- Multicollinearity -- Inference and Very Large Samples -- 4.6.Categorical Independent Variables -- Butler Trucking Company and Rush Hour -- Interpreting the Parameters -- More Complex Categorical Variables -- 4.7.Modeling Nonlinear Relationships -- Quadratic Regression Models -- Piecewise Linear Regression Models -- Interaction Between Independent Variables -- 4.8.Model Fitting -- Variable Selection Procedures -- Overfitting -- Summary -- Glossary -- Problems -- Case Problem: Alumni Giving -- Appendix: Using XLMiner for Regression -- ch. 5 Time Series Analysis and Forecasting -- Analytics in Action: Forecasting Demand for a Broad Line of Office Products -- 5.1.Time Series Patterns -- Horizontal Pattern -- Trend Pattern -- Seasonal Pattern -- Trend and Seasonal Pattern -- Cyclical Pattern -- Identifying Time Series Patterns -- 5.2.Forecast Accuracy -- 5.3.Moving Averages and Exponential Smoothing -- Moving Averages -- Forecast Accuracy -- Exponential Smoothing -- Forecast Accuracy -- 5.4.Using Regression Analysis for Forecasting -- Linear Trend Projection -- Seasonality -- Seasonality Without Trend -- Seasonality with Trend -- Using Regression Analysis as a Causal Forecasting Method -- Combining Causal Variables with Trend and Seasonality Effects -- Considerations in Using Regression in Forecasting -- 5.5.Determining the Best Forecasting Model to Use -- Summary -- Glossary -- Problems -- Case Problem: Forecasting Food and Beverage Sales -- Appendix: Using XLMiner for Forecasting -- ch. 6 Data Mining -- Analytics in Action: Online Retailers Using Predictive Analytics to Cater to Customers -- 6.1.Data Sampling -- 6.2.Data Preparation -- Treatment of Missing Data -- Identification of Outliers and Erroneous Data -- Variable Representation -- 6.3.Unsupervised Learning -- Cluster Analysis -- Association Rules -- 6.4.Supervised Learning -- Partitioning Data -- Classification Accuracy -- Prediction Accuracy -- k-Nearest Neighbors -- Classification and Regression Trees -- Logistic Regression -- Summary -- Glossary -- Problems -- Case Problem: Grey Code Corporation -- ch. 7 Spreadsheet Models -- Analytics in Action: Procter and Gamble Sets Inventory Targets Using Spreadsheet Models -- 7.1.Building Good Spreadsheet Models -- Influence Diagrams -- Building a Mathematical Model -- Spreadsheet Design and Implementing the Model in a Spreadsheet -- 7.2.What-If Analysis -- Data Tables -- Goal Seek -- 7.3.Some Useful Excel Functions for Modeling -- Sum and Sumproduct -- If and Countif -- Vlookup -- 7.4.Auditing Spreadsheet Models -- Trace Precedents and Dependents -- Show Formulas -- Evaluate Formulas -- Error Checking -- Watch Window -- Summary -- Glossary -- Problems -- Case Problem: Retirement Plan -- ch. 8 Linear Optimization Models -- Analytics in Action: Timber Harvesting Model at MeadWestvaco Corporation -- 8.1.A Simple Maximization Problem -- Problem Formulation -- Mathematical Model for the Par, Inc. Problem -- 8.2.Solving the Par, Inc. Problem -- The Geometry of the Par, Inc. Problem -- Solving Linear Programs with Excel Solver -- 8.3.A Simple Minimization Problem -- Problem Formulation -- Solution for the M&D Chemicals Problem -- 8.4.Special Cases of Linear Program Outcomes -- Alternative Optimal Solutions -- Infeasibility -- Unbounded -- 8.5.Sensitivity Analysis -- Interpreting Excel Solver Sensitivity Report -- 8.6.General Linear Programming Notation and More Examples -- Investment Portfolio Selection -- Transportation Planning -- Advertising Campaign Planning -- 8.7.Generating an Alternative Optimal Solution for a Linear Program -- Summary -- Glossary -- Problems -- Case Problem: Investment Strategy -- Appendix: Solving Linear Optimization Models Using Analytic Solver Platform -- ch. 9 Integer Linear Optimization Models -- Analytics in Action: Optimizing the Transport of Oil Rig Crews -- 9.1.Types of Integer Linear Optimization Models -- 9.2.Eastborne Realty, An Example of Integer Optimization -- The Geometry of Linear All-Integer Optimization -- 9.3.Solving Integer Optimization Problems with Excel Solver -- A Cautionary Note About Sensitivity Analysis -- 9.4.Applications Involving Binary Variables -- Capital Budgeting -- Fixed Cost -- Bank Location -- Product Design and Market Share Optimization -- 9.5.Modeling Flexibility Provided by Binary Variables -- Multiple-Choice and Mutually Exclusive Constraints -- k out of n Alternatives Constraint -- Conditional and Corequisite Constraints -- 9.6.Generating Alternatives in Binary Optimization -- Summary -- Glossary -- Problems -- Case Problem: Applecore Children's Clothing -- Appendix: Solving Integer Linear Optimization Problems Using Analytic Solver Platform -- ch. 10 Nonlinear Optimization Models -- Analytics in Action: Intercontinental Hotels Optimizes Retail Pricing -- 10.1.A Production Application: Par, Inc. Revisited -- An Unconstrained Problem -- A Constrained Problem -- Solving Nonlinear Optimization Models Using Excel Solver -- Sensitivity Analysis and Shadow Prices in Nonlinear Models -- 10.2.Local and Global Optima -- Overcoming Local Optima with Excel Solver -- 10.3.A Location Problem -- 10.4.Markowitz Portfolio Model -- 10.5.Forecasting Adoption of a New Product -- Summary -- Glossary -- Problems -- Case Problem: Portfolio Optimization with Transaction Costs -- Appendix: Solving Nonlinear Optimization Problems with Analytic Solver Platform -- ch. 11 Monte Carlo Simulation -- Analytics in Action: Reducing Patient Infections in the ICU -- 11.1.What-If Analysis -- The Sanotronics Problem -- Base-Case Scenario -- Worst-Case Scenario -- Best-Case Scenario -- 11.2.Simulation Modeling with Native Excel Functions -- Use of Probability Distributions to Represent Random Variables -- Generating Values for Random Variables with Excel -- Executing Simulation Trials with Excel -- Measuring and Analyzing Simulation Output -- 11.3.Simulation Modeling with Analytic Solver Platform -- The Land Shark Problem -- Spreadsheet Model for Land Shark -- Generating Values for Land Shark's Random Variables -- Tracking Output Measures for Land Shark -- Executing Simulation Trials and Analyzing Output for Land Shark -- The Zappos Problem -- Spreadsheet Model for Zappos Note continued: Modeling Random Variables for Zappos -- Tracking Output Measures for Zappos -- Executing Simulation Trials and Analyzing Output for Zappos -- 11.4.Simulation Optimization -- 11.5.Simulation Considerations -- Verification and Validation -- Advantages and Disadvantages of Using Simulation -- Summary -- Glossary -- Problems -- Case Problem: Four Corners -- Appendix 11.1 Incorporating Dependence Between Random Variables -- Appendix 11.2 Probability Distributions for Random Variables -- ch. 12 Decision Analysis -- Analytics in Action: Phytopharm's New Product Research and Development -- 12.1.Problem Formulation -- Payoff Tables -- Decision Trees -- 12.2.Decision Analysis Without Probabilities -- Optimistic Approach -- Conservative Approach -- Minimax Regret Approach -- 12.3.Decision Analysis with Probabilities -- Expected Value Approach -- Risk Analysis -- Sensitivity Analysis -- 12.4.Decision Analysis with Sample Information -- Expected Value of Sample Information -- Expected Value of Perfect Information -- 12.5.Computing Branch Probabilities with Bayes' Theorem -- 12.6.Utility Theory -- Utility and Decision Analysis -- Utility Functions -- Exponential Utility Function -- Summary -- Glossary -- Problems -- Case Problem: Property Purchase Strategy -- Appendix: Using Analytic Solver Platform to Create Decision Trees.
Summary: Provides coverage over the range of analytics - descriptive, predictive, prescriptive - not covered by any other single book, and includes step-by-step instructions to help students learn how to use Excel and powerful but easy to use Excel add-ons such as XL Miner for data mining and Analytic Solver Platform for optimization and simulation.
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Machine generated contents note: ch. 1 Introduction --
1.1.Decision Making --
1.2.Business Analytics Defined --
1.3.A Categorization of Analytical Methods and Models --
Descriptive Analytics --
Predictive Analytics --
Prescriptive Analytics --
Analytics in Action: Procter & Gamble Uses Business Analytics to Redesign its Supply Chain --
1.4.Big Data --
1.5.Business Analytics in Practice --
Financial Analytics --
Human Resource (HR) Analytics --
Marketing Analytics --
Health Care Analytics --
Supply Chain Analytics --
Analytics for Government and Nonprofits --
Sports Analytics --
Web Analytics --
Summary --
Glossary --
ch. 2 Descriptive Statistics --
Analytics in Action: U.S. Census Bureau --
2.1.Overview of Using Data: Definitions and Goals --
2.2.Types of Data --
Population and Sample Data --
Quantitative and Categorical Data --
Cross-Sectional and Time Series Data --
Sources of Data --
2.3.Modifying Data in Excel --
Sorting and Filtering Data in Excel --
Conditional Formatting of Data in Excel --
2.4.Creating Distributions from Data --
Frequency Distributions for Categorical Data --
Relative Frequency and Percent Frequency Distributions --
Frequency Distributions for Quantitative Data --
Histograms --
Cumulative Distributions --
2.5.Measures of Location --
Mean (Arithmetic Mean) --
Median --
Mode --
Geometric Mean --
2.6.Measures of Variability --
Range --
Variance --
Standard Deviation --
Coefficient of Variation --
2.7.Analyzing Distributions --
Percentiles --
Quartiles --
z-scores --
Empirical Rule --
Identifying Outliers --
Box Plots --
2.8.Measures of Association Between Two Variables --
Scatter Charts --
Covariance --
Correlation Coefficient --
Summary --
Glossary --
Problems --
Case: Heavenly Chocolates Web Site Transactions --
Appendix: Creating Box Plots in XLMiner --
ch. 3 Data Visualization --
Analytics in Action: Cincinnati Zoo & Botanical Garden --
3.1.Overview of Data Visualization --
Effective Design Techniques --
3.2.Tables --
Table Design Principles --
Crosstabulation --
PivotTables in Excel --
3.3.Charts --
Scatter Charts --
Line Charts --
Bar Charts and Column Charts --
A Note on Pie Charts and 3-D Charts --
Bubble Charts --
Heat Maps --
Additional Charts for Multiple Variables --
PivotCharts in Excel --
3.4.Advanced Data Visualization --
Advanced Charts --
Geographic Information Systems Charts --
3.5.Data Dashboards --
Principles of Effective Data Dashboards --
Applications of Data Dashboards --
Summary --
Glossary --
Problems --
Case Problem: All-Time Movie Box Office Data --
Appendix: Creating a Scatter Chart Matrix and a Parallel Coordinates Plot with XLMiner --
ch. 4 Linear Regression --
Analytics in Action: Alliance Data Systems --
4.1.The Simple Linear Regression Model --
Regression Model and Regression Equation --
Estimated Regression Equation --
4.2.Least Squares Method --
Least Squares Estimates of the Regression Parameters --
Using Excel's Chart Tools to Compute the Estimated Regression Equation --
4.3.Assessing the Fit of the Simple Linear Regression Model --
The Sums of Squares --
The Coefficient of Determination --
Using Excel's Chart Tools to Compute the Coefficient of Determination --
4.4.The Multiple Regression Model --
Regression Model and Regression Equation --
Estimated Multiple Regression Equation --
Least Squares Method and Multiple Regression --
Butler Trucking Company and Multiple Regression --
Using Excel's Regression Tool to Develop the Estimated Multiple Regression Equation --
4.5.Inference and Regression --
Conditions Necessary for Valid Inference in the Least Squares Regression Model --
Testing for an Overall Regression Relationship --
Testing Individual Regression Parameters --
Addressing Nonsignificant Independent Variables --
Multicollinearity --
Inference and Very Large Samples --
4.6.Categorical Independent Variables --
Butler Trucking Company and Rush Hour --
Interpreting the Parameters --
More Complex Categorical Variables --
4.7.Modeling Nonlinear Relationships --
Quadratic Regression Models --
Piecewise Linear Regression Models --
Interaction Between Independent Variables --
4.8.Model Fitting --
Variable Selection Procedures --
Overfitting --
Summary --
Glossary --
Problems --
Case Problem: Alumni Giving --
Appendix: Using XLMiner for Regression --
ch. 5 Time Series Analysis and Forecasting --
Analytics in Action: Forecasting Demand for a Broad Line of Office Products --
5.1.Time Series Patterns --
Horizontal Pattern --
Trend Pattern --
Seasonal Pattern --
Trend and Seasonal Pattern --
Cyclical Pattern --
Identifying Time Series Patterns --
5.2.Forecast Accuracy --
5.3.Moving Averages and Exponential Smoothing --
Moving Averages --
Forecast Accuracy --
Exponential Smoothing --
Forecast Accuracy --
5.4.Using Regression Analysis for Forecasting --
Linear Trend Projection --
Seasonality --
Seasonality Without Trend --
Seasonality with Trend --
Using Regression Analysis as a Causal Forecasting Method --
Combining Causal Variables with Trend and Seasonality Effects --
Considerations in Using Regression in Forecasting --
5.5.Determining the Best Forecasting Model to Use --
Summary --
Glossary --
Problems --
Case Problem: Forecasting Food and Beverage Sales --
Appendix: Using XLMiner for Forecasting --
ch. 6 Data Mining --
Analytics in Action: Online Retailers Using Predictive Analytics to Cater to Customers --
6.1.Data Sampling --
6.2.Data Preparation --
Treatment of Missing Data --
Identification of Outliers and Erroneous Data --
Variable Representation --
6.3.Unsupervised Learning --
Cluster Analysis --
Association Rules --
6.4.Supervised Learning --
Partitioning Data --
Classification Accuracy --
Prediction Accuracy --
k-Nearest Neighbors --
Classification and Regression Trees --
Logistic Regression --
Summary --
Glossary --
Problems --
Case Problem: Grey Code Corporation --
ch. 7 Spreadsheet Models --
Analytics in Action: Procter and Gamble Sets Inventory Targets Using Spreadsheet Models --
7.1.Building Good Spreadsheet Models --
Influence Diagrams --
Building a Mathematical Model --
Spreadsheet Design and Implementing the Model in a Spreadsheet --
7.2.What-If Analysis --
Data Tables --
Goal Seek --
7.3.Some Useful Excel Functions for Modeling --
Sum and Sumproduct --
If and Countif --
Vlookup --
7.4.Auditing Spreadsheet Models --
Trace Precedents and Dependents --
Show Formulas --
Evaluate Formulas --
Error Checking --
Watch Window --
Summary --
Glossary --
Problems --
Case Problem: Retirement Plan --
ch. 8 Linear Optimization Models --
Analytics in Action: Timber Harvesting Model at MeadWestvaco Corporation --
8.1.A Simple Maximization Problem --
Problem Formulation --
Mathematical Model for the Par, Inc. Problem --
8.2.Solving the Par, Inc. Problem --
The Geometry of the Par, Inc. Problem --
Solving Linear Programs with Excel Solver --
8.3.A Simple Minimization Problem --
Problem Formulation --
Solution for the M&D Chemicals Problem --
8.4.Special Cases of Linear Program Outcomes --
Alternative Optimal Solutions --
Infeasibility --
Unbounded --
8.5.Sensitivity Analysis --
Interpreting Excel Solver Sensitivity Report --
8.6.General Linear Programming Notation and More Examples --
Investment Portfolio Selection --
Transportation Planning --
Advertising Campaign Planning --
8.7.Generating an Alternative Optimal Solution for a Linear Program --
Summary --
Glossary --
Problems --
Case Problem: Investment Strategy --
Appendix: Solving Linear Optimization Models Using Analytic Solver Platform --
ch. 9 Integer Linear Optimization Models --
Analytics in Action: Optimizing the Transport of Oil Rig Crews --
9.1.Types of Integer Linear Optimization Models --
9.2.Eastborne Realty, An Example of Integer Optimization --
The Geometry of Linear All-Integer Optimization --
9.3.Solving Integer Optimization Problems with Excel Solver --
A Cautionary Note About Sensitivity Analysis --
9.4.Applications Involving Binary Variables --
Capital Budgeting --
Fixed Cost --
Bank Location --
Product Design and Market Share Optimization --
9.5.Modeling Flexibility Provided by Binary Variables --
Multiple-Choice and Mutually Exclusive Constraints --
k out of n Alternatives Constraint --
Conditional and Corequisite Constraints --
9.6.Generating Alternatives in Binary Optimization --
Summary --
Glossary --
Problems --
Case Problem: Applecore Children's Clothing --
Appendix: Solving Integer Linear Optimization Problems Using Analytic Solver Platform --
ch. 10 Nonlinear Optimization Models --
Analytics in Action: Intercontinental Hotels Optimizes Retail Pricing --
10.1.A Production Application: Par, Inc. Revisited --
An Unconstrained Problem --
A Constrained Problem --
Solving Nonlinear Optimization Models Using Excel Solver --
Sensitivity Analysis and Shadow Prices in Nonlinear Models --
10.2.Local and Global Optima --
Overcoming Local Optima with Excel Solver --
10.3.A Location Problem --
10.4.Markowitz Portfolio Model --
10.5.Forecasting Adoption of a New Product --
Summary --
Glossary --
Problems --
Case Problem: Portfolio Optimization with Transaction Costs --
Appendix: Solving Nonlinear Optimization Problems with Analytic Solver Platform --
ch. 11 Monte Carlo Simulation --
Analytics in Action: Reducing Patient Infections in the ICU --
11.1.What-If Analysis --
The Sanotronics Problem --
Base-Case Scenario --
Worst-Case Scenario --
Best-Case Scenario --
11.2.Simulation Modeling with Native Excel Functions --
Use of Probability Distributions to Represent Random Variables --
Generating Values for Random Variables with Excel --
Executing Simulation Trials with Excel --
Measuring and Analyzing Simulation Output --
11.3.Simulation Modeling with Analytic Solver Platform --
The Land Shark Problem --
Spreadsheet Model for Land Shark --
Generating Values for Land Shark's Random Variables --
Tracking Output Measures for Land Shark --
Executing Simulation Trials and Analyzing Output for Land Shark --
The Zappos Problem --
Spreadsheet Model for Zappos Note continued: Modeling Random Variables for Zappos --
Tracking Output Measures for Zappos --
Executing Simulation Trials and Analyzing Output for Zappos --
11.4.Simulation Optimization --
11.5.Simulation Considerations --
Verification and Validation --
Advantages and Disadvantages of Using Simulation --
Summary --
Glossary --
Problems --
Case Problem: Four Corners --
Appendix 11.1 Incorporating Dependence Between Random Variables --
Appendix 11.2 Probability Distributions for Random Variables --
ch. 12 Decision Analysis --
Analytics in Action: Phytopharm's New Product Research and Development --
12.1.Problem Formulation --
Payoff Tables --
Decision Trees --
12.2.Decision Analysis Without Probabilities --
Optimistic Approach --
Conservative Approach --
Minimax Regret Approach --
12.3.Decision Analysis with Probabilities --
Expected Value Approach --
Risk Analysis --
Sensitivity Analysis --
12.4.Decision Analysis with Sample Information --
Expected Value of Sample Information --
Expected Value of Perfect Information --
12.5.Computing Branch Probabilities with Bayes' Theorem --
12.6.Utility Theory --
Utility and Decision Analysis --
Utility Functions --
Exponential Utility Function --
Summary --
Glossary --
Problems --
Case Problem: Property Purchase Strategy --
Appendix: Using Analytic Solver Platform to Create Decision Trees.

Provides coverage over the range of analytics - descriptive, predictive, prescriptive - not covered by any other single book, and includes step-by-step instructions to help students learn how to use Excel and powerful but easy to use Excel add-ons such as XL Miner for data mining and Analytic Solver Platform for optimization and simulation.

600-699

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