#3 Lecture 2B | Data Driven Decision Making & Essentials of Predictive Analytics

Welcome to 'Jan 2024 Business Forecasting' course ! This lecture continues the discussion on data driven decision making and the essentials of predictive analytics. It reviews the concepts of descriptive, predictive, and prescriptive analytics and delves into the importance of understanding different data types (continuous, discrete, qualitative, quantitative, structured, unstructured, big data). It emphasizes the need to consider data quality, reliability, consistency, and the appropriate modeling approach based on data patterns. The lecture also highlights techniques for data collection, preprocessing, exploratory data analysis, and model building. NPTEL Courses permit certifications that can be used for Course Credits in Indian Universities as per the UGC and AICTE notifications. To understand various certification options for this course, please visit https://nptel.ac.in/courses/110101438 #DataDrivenDecisionMaking #PredictiveAnalytics #EssentialsOfPredictiveAnalytics #DataTypes #DataQuality #DataModeling