Learn Unstructured Text Analytics and enroll in Statistics.com Institute for Statistics Education online Statistics in Business Analytics and Data mining Programs in Analytics and Statistical Studies (PASS). Mr. Peter Bruce is President of The Institute for Statistics Education at Statistics.com. Bruce discusses Statistics.com’s online Statistics in Business Analytics and Data mining PASS certificates. He mentions companies where PASS analytical certificate program graduates get analytics and statistics jobs with Statistics.com’s job placement program. Peter Bruce’s Statistics.com interview is below.
Let’s Get You Started Tool
Question 1: The ‘Let’s Get You Started’ tool on the Statistics.com home page recommends Statistics.com courses based on an individual’s analytical learning interests. Can you explain how this online statistics search engine tool matches Statistics.com courses with an individual’s analytical experience and needs?
Mr. Bruce: The “Let’s Get You Started” tool is a pre-programmed analysis of what each combination needs. (There are six choices of who someone might be and four choices of what that someone might be interested in, for a total of 24 alternatives. For each alternative, we provide appropriate advice) For example, if someone selects “Newbie or beginner” from the “Tell us who you are” field and also selects “Learn Intro Stats,” then the student is directed to the “Intro Stats” page: http://www.statistics.com/intro_stats. If someone selects “Business Analyst” and that they want “skills to help with current projects”, they are directed to this page http://www.statistics.com/index.php?page=business-analyst-2 where there are a series of questions and answers with course recommendations.
Introduction to Statistics Online Courses
Question 2: Please provide links to three online Introduction to Statistics courses that a person might take in order to quality for enrolment in your Statistics in Business Analytics and Data Mining certificate programs?
Statistics in Business Analytics vs. Data Mining Certificates
Question 3: What is the difference between your Statistics in Business Analytics and Data Mining online data analysis certificate programs?
Mr. Bruce: Data Mining as a field is a subset of business analytics, focused on teasing powerful information from large data sets to predict customer behavior, identify likely high value customers, visualize high dimensional data, and convert text to minable data. Business Analytics is broader in its electives, focusing on one of these strands: 1. Predictive Analytics (very similar to data mining), 2. Risk Assessment and Forecasting, or 3. Market Research and Consumer Behavior.
The cost for each certificate program is roughly the same. Each has a registration fee of $495 and both require 12 courses to be taken. In the DM PASS, there are 6 required courses and 6 electives. In BA PASS, as explained above with the strand selection, there are 4 required and 8 electives. Estimated total cost of the certificate, including tuition, books and software, is $6,100.
The software that is used depends on the course, not the overall program. The instructor may provide illustrations, examples, exercises and occasional pointers in a particular software package with which he/she is familiar. Where possible, teaching assistants have provided supplemental examples in other packages, and will provide feedback on student work in a variety of software packages.
c. Data Analyzed
There is a large overlap in data analyzed. BA might include survey data that would not be in DM. BA also includes optimization which is not a question of analyzing data but of solving a constrained optimization problem, e.g. via linear programming.
The objectives in the BA PASS incorporate a small group of required topics (regression, logistic regression, forecasting), and then students select one of three concentration strands – Predictive Analytics, Risk Assessment and Forecasting, or Market Research and Consumer Behavior, for additional coursework. Students completing the program successfully will have mastery of skills in the important strand of their own choosing. The objectives in the DM PASS include supervised learning (a technical term referring to statistical and machine learning methods for developing predictive models based on data with known outcomes), and unsupervised learning (customer segmentation, recommender systems). Electives allow for in-depth study of advanced data mining techniques such as support vector machines, natural language processing or sentiment analysis, as well as a variety of related statistical methods. Students completing the Program successfully will gain mastery of conceptual skills and software applications in data mining (including predictive analytics).
e. Time to Complete
Each certificate should take equal amount of time to complete since they both require 12 courses each.
Statistical Software and Books
Question 4: Are there statistical software, books or other analytical resources that Statistics.com Statistics in Business Analytics and Data Mining students keep after completing one of these certificate programs? Do students receive discounts on the purchase of software and course materials from IBM-SPSS, Angoss, SAP, or other analytical software providers? Are there special statistics or business analytics conference delegate rates for Statistics.com students?
Mr. Bruce: Each course has its own requirements for software, books or other resources, which the student, of course, keeps. The only caveat is if a software license has an expiration date. We do have discounts for our students from many publishers and some software providers. We have not arranged for student or delegate rates at conferences. (Thanks for the idea!)
Recommended Software Vendors
Question 5: Which three commercial analytical/statistical software listed in the Statistics.com software directory would you recommend for an analytics student who wishes to learn about data analysis?
Mr. Bruce: We are vendor neutral and students can use whatever they want that can do the job. Some students have access to expensive software and some do not. The instructor may provide illustrations, examples, exercises and occasional pointers in a particular software package with which he/she is familiar. Where possible, teaching assistants have provided supplemental examples in other packages, and will provide feedback on student work in a variety of software packages.
Statistics.com Job Placements
Question 6: Can you provide three examples of employers where you have placed a Statistics in Business Analytics or Data Mining student and name the job titles into which they were placed? What were their average starting salaries?
Mr. Bruce: We typically focus on providing the skill needed for lateral movement and advancement. Here are some posts listed on our discussion board:
- D.B. is a statistical analyst for an auto insurance company. He used the course to help him complete his newly assigned task of creating claims models with their collected data.
- F.C. is a health care consultant who focuses on data analysis and applied statistics. Today’s very large databases are outgrowing standard statistical tests and F.C. is using the data mining course to address, “the need for a more formal approach to true predictive analytical techniques.”
- T.P. is a PhD candidate in Biophysics at a major University. He will use his Data Mining course to help him sort through massive genomics and structural libraries and make the transition to systems biology or bioinformatics research in the future.
- L.M. heads a team of PhD-level econometricians and economists at the government retirement system. She is going to bring data mining knowledge to the team to look for relationships between claims and outcomes in their in-house data and improve efficiency of the disability claims process.
- R. P. recently moved to the Research & Development department of a cancer diagnostic company in Amsterdam after working as a diagnostic technician. He uses data mining to analyze bioinformatics in his new position.
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