To be sure, that business can be learned. We can study data related to business, we can see the history of what has happened in the business. We can also see trends. This Udacity Predictive Analytics For Business review the things that underlie future business predictions. The analysis data is then used as a reference for making forecasting, classification, and recommendations for determining strategic business steps.
No one can know for sure what will happen in the future in business. Frankly, there will be some uncertainty when we talk about business. But can predictive analytics help businesses?
You are a business owner or you are a professional in the business field, so you need to equip yourself with the ability to predict business.
This capability will be very useful for forecasting inventory and managing resources.
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The reasons why you should take this course.
Did you know that The Global Business Analytics Market is expected to reach $71.1 billion in 2022?
Of course, this figure appears not only made up. This figure arises because there is in-depth research, so it can be seen what to expect with business analytics figures until later in 2022.
The term predictive analytics itself is a branch of advanced analytics that is used as the basis for predicting unknown conditions in the future.
To get predictions, we can use techniques such as data mining, statistics, machine learning, artificial intelligence, and modeling.
More specifically, here later what will be predicted is the business we are running.
This activity will be very important in business because from existing data we can study patterns, then we can identify trends and behaviors that are likely to occur in the future.
Of course, with good predictive analytics for business, we can get insights that can lead the business in a better direction and can also be used as a basis for determining the right strategic business decisions.
Many companies now use predictive analytics to determine future business steps. Many of them have proven that by deepening this analysis, they can recognize the behavior of their customers better, improve business operations, without even increasing their budget.
Either directly or indirectly, good predictive analytics can increase the profit of a business.
Whether you are a business owner or a business professional, make sure you have the ability to make good predictive analytics for your business.
In the near future, the business need for people who understand predictive analytics for business will continue to increase.
Udacity Predictive Analytics For Business review: What can you expect from this online course?
Udacity Nanodegree’s The Predictive Analytics For Business course focuses on using predictive analytics to predict future business developments, including analysis in making business decisions.
Unlike Udacity’s Data Analyst course, The Predictive Analytics For Business course will not involve coding. You will later use software such as Alteryx and Tableau.
With this course, you will thoroughly study predictive analytics. You will also be introduced to statistics, data visualization, as well as data wrangling, although this is not as much time as you learn predictive analytics.
You can see from this Udacity Predictive Analytics for Business review, this online course is less technical when compared to the Data Analyst course.
If in the Data Analyst course you will learn a lot about data cleaning, modeling, and data processing, then in the Udacity Predictive Analytics For Business course online you will learn more in terms of how you become a reliable professional in the field of business analysis, such as to become a Business Analyst, Business Intelligence Analyst, Market Analyst, Data Analyst, Business System Analyst, Product Manager, System Analyst, and Management Consultant.
In other words, Udacity’s The Predictive Analytics For Business course is expected to produce people with the ability to predict business. Those who will later take strategic business decisions.
Is this course right for you?
If you are someone who is interested in the fields of Business Analytics, Forecasting, Classification, and Data Wrangling, then you can be sure that Udacity Predictive Analytics For Business course online is perfect for you.
This course will teach you the concepts of predictive analytics from the start, especially for applications in the business world.
In the course, you will be guided by the best mentors who are experienced in this field.
You will also have the opportunity to work on real-world projects, so you can find out what projects are often in the field regarding predictive analytics for business.
What will you get by taking this Udacity Predictive Analytics For Business course online?
The structure of Udacity Predictive Analytics For Business online course is practically complete.
There are six stages in the course and there are five real-world projects you can take part in.
This course, which is included in one of Udacity’s Nanodegree programs, can be completed in four months, with 10 hours of study time each week.
The stages of the course are designed by Udacity in such a way that it is hoped that every student who takes this course will find it easy to apply predictive analytics for business.
Concluded in this Udacity Predictive Analytics for Business review, the stages of this online course include:
The following is an explanation of each of these stages.
1. Problem-Solving with Advanced Analytics.
In the first stage of this course, the goal is to help you grow your analytical skills. Udacity will provide a framework so you can organize and plan your analytical approach.
To simplify your steps in solving problems with analytics, here later you will be introduced to Linear Regression and Multiple Linear Regression.
Linear Regression is a statistical method that is used as a basis and is often used for predictive analytics. This method is popularly used to predict the value of a variable based on the value of another variable.
Linear Multiple Regression is an extension of Linear Regression, where Linear Regression uses only one explanatory variable, while Multiple Linear Regression uses several explanatory variables. This statistical method used to predict the outcome of a variable response is also known as multiple regression.
At this stage you will be invited to work on a project: Predict Sales For A Catalog Launch.
From the statistical methods that you have learned, here you will be asked to build a linear regression model, whose purpose is to predict the desired profit from the launch of the catalog.
2. Getting to know Data Wrangling.
In simple language, data wrangling is a process for cleaning data. The clean data will then be put together so that it is easy to access and analyze.
At this stage of the course, you will learn to work with different types of data, reformat the data, and combine it with data from other sources.
At this stage, you will also have the opportunity to work on a project about creating an analytical dataset.
In this project, you will be asked to build a predictive model and a robust analytic dataset using data preparation techniques to determine the best location for a pet shop.
3. Getting to know Classification Models.
Classification models are one of the most powerful tools that analysts often use to analyze a business.
In analyzing data, there are times when we will be faced with large and complex data. With classification models, we will be able to classify or categorize the data into several classes which have been adjusted according to the purpose of analyzing the data.
In this stage of the course, you will learn about binary and non-binary classification models, and how to use them to generate business insights.
Here later you will also work on another project on how to predict loan default risk.
In this project, you will be asked to apply classification models from the loan application data received by the bank, and provide recommendations for which loans the bank should accept.
4. A/B testing.
One of the important things expected from a business analysis is determining which of the best decisions a business should make.
Every decision that will be taken will have its own expectations and consequences.
At this stage of the course, you will learn how to create, execute, and analyze these scenarios.
From the A / B test, you are expected to be able to provide convincing recommendations so that the business can be helped to determine which decision is the best to take.
To hone your skills, at this stage you will be asked to work on a project about the A/B test in a menu launch.
This project will take an example from a coffee shop chain that will launch a new menu. You will be asked to design and analyze menus, and at the end of the project, you will be asked to provide recommendations on which new menus the coffee shop should introduce to their market.
5. Getting to know Time Series Forecasting.
This method is one of the most widely used in future business analysis.
Time series forecasting is a model for predicting future businesses using previously observed business values.
By studying the previous business values, we can find out how trends are and also how the business runs in certain seasons. These values can then be used as patterns for predicting future businesses.
To make it easier for you to do forecasting, at this stage of this course you will learn about the ETS (Error, Trend, Seasonal) model and the ARIMA (Autoregressive Integrated Moving Average) model.
Both models are used in statistics and econometrics to measure events that occur within a certain time period. These models are very useful tools for understanding past data as well as for predicting future data.
6. Getting to know Segmentation and Clustering.
Segmentation and clustering are effective methods of determining patterns in a business.
This method is very effective when we are working on projects with big data. With this method, we can classify the data according to the appropriate cluster. That way we can find the pattern easier.
At this stage of the course, you will learn how to prepare data for inclusion in the correct cluster and then output the results.
It is also at this stage that you will be working on a project on how to incorporate predictive techniques.
In this project, you will be given a scenario about a grocery store chain that plans to make a major expansion.
You will be asked to provide predictions as well as recommendations for where and how the grocery store will expand, using multiple analytical techniques.
With you working on this project, it is hoped that you will be more confident in combining predictive techniques and providing solutions to complex business problems.
In this course, you will learn predictive analytics for business with the best instructors.
To make you someone who has the ability to do predictive analytics for business, Udacity has prepared instructors who are experienced in this field.
Here are the instructors and their details:
- Patrick Nussbaumer (Technical Activation Director at Alteryx, Inc.)
Patrick has over 20 years of experience in data analysis, telecommunications, and financial services industries.
- Ben Burkholder (Senior Solution Engineer at Alteryx, Inc.)
Ben is accustomed to working with clients to solve complex business problems related to data preparation, geospatial analysis, and predictive analytics.
- Maureen Wolfson (Solution Engineer at Alteryx, Inc.)
Maureen has more than 20 years of experience in the data analysis field. She is an expert in data, customer, and geospatial analysis.
- Rod Light (Solution Engineer Practice Lead at Alteryx, Inc.)
Rod has been accustomed to assisting clients in designing data analytics solutions for their business using Alteryx.
- Tony Moses (Solution Engineer at Alteryx, Inc.)
Tony has been experienced in developing plans to solve complex business problems around geospatial analysis, data preparation, and predictive analytics.
Students who have taken the Predictive Analytics For Business course reviewed that they have benefited from at least 4 services provided by Udacity.
Seeing directly from the responses at Udacity, students who have taken The Predictive Analytics For Business course reviewed that they were happy with the service regarding real-world projects, experienced reviewers, technical mentors support, and career assistance.
These four services were the ones most students mentioned when they gave their reviews about this course.
Here we have summarized each of the four services.
1. Real-world project from its expert industry.
Students really like the existence of real-world projects in every course at Udacity.
With the existence of a real-world project, they can find out how the application of predictive analytics in the field. It makes it easier for them to understand the implementation because they learn as well as practice in projects that have happened in the real world.
In addition, they also know how business expectations are on predictive analytics.
They think that working on real-world projects is a shortcut to more quickly understanding predictive analytics for businesses. Especially for beginners, they can get a big picture of how the business will do its analysis to predict what will happen in the future.
2. The project work was supervised directly by experienced reviewers.
As explained in the previous point, every student gets the opportunity to work on real-world projects.
The advantage is that each student’s work on the project will receive personalized feedback from experienced reviewers.
Students are happy with this service. By getting feedback, they become aware of the quality of their work on the project.
Those who have not been able to complete the project as expected will have the opportunity to continue submitting their work unlimitedly until they pass the project. Each submission will receive feedback loops.
Students also noted that during each project submission, reviewers often provided practical tips and explained industry best practices. There are times when those reviewers also provide additional resources that are very useful to improve students’ abilities.
The students are very satisfied with this service. They often get feedback, tips, and also input outside the material in the course.
3. Technical mentor support.
In each course, a technical mentor is provided.
Students feel very helped by the presence of this mentor.
The mentors will always be there to answer all the technical questions of the students. Questions will be answered quickly by mentors.
Students are happy with this service. They feel that their learning process is optimal.
Whenever there are technical problems while students are studying, they can get help from experienced mentors.
To facilitate this service, Udacity has provided at least more than 1000 experienced technical mentors.
4. Career development assistance.
This service is one of the factors that make people finally decide to take this course The Predictive Analytics For Business from Udacity.
Students who have completed this course will certainly need guidance to develop their careers. This service is perfect for professionals who wish to develop a career in predictive analytics for business.
Some of the services about careers that students love are assistance with job searches, help for expanding the professional network of students, explanations of the hiring process, and constructive advice on job negotiations.
Students find this service very useful for them to develop their careers.
Students see this service as a complement, where students can improve their competence in the field of predictive analytics for business, while they can also get assistance to get jobs according to what they have learned in the course.
Here are some reviews from students for the course The Predictive Analytics For Business from Udacity:
( click the image to enlarge )
| Click here to see a more complete review directly from Udacity.
Are there any special prerequisites for taking this course?
Your background determines your success in doing predictive analytics for business.
Likewise, the abilities you currently have will affect your speed at learning in this course.
In the previous section, we explained what predictive analytics is for business and what approaches are used in conducting this predictive analysis.
And already mentioned, Udacity’s The Predictive Analytics For Business course has no coding. Because predictive analytics is not an emphasized coding ability. Here later you will use software namely Alteryx and Tableau.
In this course, several mathematical models will be used.
To support your learning process in this course, it is hoped that you will have a good understanding of the basic science of statistics and mathematics. You should be familiar with descriptive analytics, inferential statistics, and basic algebra.
In addition, you must also be familiar with working with data in Excel.
It would be better if you already have a good understanding of SQL and Tableau. But don’t worry, it’s not a must to take this course.
To take the Predictive Analytics For Business course you will need a computer, access to a Windows environment, and the internet. If you are using a Mac, Udacity will give you instructions on how to set up your Mac with the Windows environment.
So, are you ready to take this Udacity Predictive Analytics For Business Nanodegree course online?
Conclusion: Udacity Predictive Analytics For Business review.
One important point that can be obtained from this Udacity Predictive Analytics for Business review: Predictive analytics for business is the solution to solving real-world business problems.
There are already many examples of how businesses use predictive analytics to improve their operations. With predictive analytics, businesses can survive, become attractive to customers, and can continue to grow in line with the ongoing trend.
By completing the course The Predictive Analytics For Business from Udacity, it is hoped that you will have good abilities and are ready to join large companies, small companies, or even you are independent as a freelance to help businesses perform predictive analysis.
As you already know from this Udacity Predictive Analytics for Business review, there are lots of benefits that you can get by taking this online course, such as:
- You’ll learn predictive analytics for business from scratch.
- You have the opportunity to work on real-world projects.
- You get technical mentor support, and
- You can get special access to your career development.
Today’s data has become an important asset for businesses. And today’s businesses need people with good skills in business analysis, especially people who understand predictive analytics for business well.
The need for professionals who understand predictive analytics for business will continue to grow.
And if you are passionate about business analytics, classification, forecasting, and data wrangling, then this course is definitely the right one for you.
Join as a professional who has a strong ability in predictive analytics for business. There will be many businesses that need people with such abilities.