The Webinar named “The Age of Analytics: Data Driven Insights in the Services Industry” was organized by Minitab on 3rd Jun 2020. In the beginning, Ms. Iza Ng (Business Development Manager, TechMax) introduced today’s speaker Dr. Scott Kowalski.
Dr. Scott Kowalski (Advisory Technical Training Specialist, Minitab) was key speaker today and he is major in Statistics. He said 87% of global businesses though data is the key to new business growth, delivering better results for customer, and the foundation for making important business decisions.
He briefed the Data Driven Insights from operational environment to data to information and then to intelligence. Data alone is not intelligence. It needed to be employed for modeling and enable people made smart decision.
Then Dr. Scott Kowalski briefed what is Data Analytics that included four stages. They are Descriptive, Diagnostic, Predictive and Prescriptive Analytics.
After that Dr. Scott shared Healthcare research employed Predictive Analytics using Minitab. He would like to reduce the number of resident falls and collected a series of data sets.
Simply, Pareto Chart was employed and found that the high frequency of resident falls on 4:00am and 2:00am.
And then he introduced data about Service that data-driven decision could reduce cost and enhance efficiency, as well as, quality of business.
Dr. Scott used predictive equation (based on regression) for Banking Example.
Finally, Dr. Scott briefed the Machine Learning that separated into Unsupervised Learning (Clustering) and Supervised Learning (Classification & Regression).
The key of Machine Learning is used 70% of data as training set and 30% of data as test set. If 100% of data use for training set that model will be over-fit.
Lastly, Tree-based machine learning new menu was introduced for predictive analytics (e.g. CART® Classification; CART® Regression).
At the end, Ms. Iza Ng invited us to join the coming Webinar Wednesday for Machine Learning Series at https://info.minitab.com/resources/webinars/webinar-Wednesdays-apac .
Minitab – www.minitab.com
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