ML and AI in Managerial Decision Making Program

This program brings together cutting-edge technologies from the field of analytics, machine learning (ML), and artificial intelligence (AI), to draw appropriate business decisions by meaningful analysis of business data. The primary focus of the program is to introduce various concepts of analytics, ML, and AI, and demonstrate their applications in solving real-world business problems through advanced software. The coverage, from the domain of analytics, ML, and AI, is a judicious mix of practical, relevant, and versatile topics for business intelligence.

The results of analyzing complex business data, augmented with domain knowledge, can be used for insightful managerial decision-making in diverse areas of business including, but not limited to, finance, marketing, operations, and human resources. The applications in these domains, which will be covered in this program, include diverse managerial problems, such as predicting default in loan repayment, customer retention and relationship management, prediction of employee attrition, etc. This program takes the participants to the plane of business intelligence directly, with hands-on work and practical applications of the state-of-the-art models and methods.

Importance of analytics, ML and AI in contemporary managerial decision-making;

Organizations driven by analytics, ML, and AI;

Processes to make an organization ready for analytics, ML and AI;

Exploratory business analytics and storytelling with contemporary graphical analysis;

Preliminaries of analytics;

Business analysis and prediction using regression models;

Classification models and their applications in business fraud detection, prediction of attrition, default prediction, buyer prediction, etc.;

Practical methods of handling class imbalance;

Assessment of model performance and model diagnostics;

Comparing the performance of different classifiers in managerial applications;

Classification trees and ensemble learning techniques;

Unsupervised learning in business intelligence market segmentation or clustering;

Unsupervised learning in business intelligence market basket analysis, recommender systems;

Randomized experiments for identification of effective strategies AB testing, multivariable testing, persuasion analytics;

Artificial neural network and deep learning;

Text mining and social media analytics data cleaning, large language models, topic modeling, sentiment analysis;

Analytics, ML, and AI at work: perspectives from contemporary organizations.

The program will take place at the Indian Institute of Management Udaipur. Participants will receive full board and air-conditioned single-room accommodation at a nearby hotel, on a single occupancy basis.

The program will help participants understand and interpret the outputs of a diverse set of analytics, ML, and AI models, and develop practical managerial insights based on them. They will be able to contribute data-driven insights to their respective working teams and organizations in the immediate future. In the long run, such practice of developing data-driven managerial insights will lead them to adopt useful managerial steps, ultimately supporting their overall career growth. In summary, this program will provide a competitive advantage to the participants, through the dissemination of important knowledge of analytics, ML, and AI models that are indispensable in the present age to successfully navigate the corporate world.