Predictive Modeling using Minitab:
Minitab is among the leading developers in the world for statistical analysis software as well as software for Six Sigma, lean and quality improvement projects. Across the world, there are thousands of companies that make use of Minitab software and over 4000 universities and colleges make use of Minitab for the purposes of research and teaching. Some of the major clients of Minitab consist of Pfizer, Nestle, Royal Bank of Scotland, Boeing, DuPont and Toshiba. The Minitab Inc. Has its headquarters in State College, PA and also operates offices in Australia, France and United Kingdom and additional number of representatives are present across the globe. The products of Minitab have the backing of outstanding services which consist of technical support as well as training. The Minitab products consist of Minitab 17,Minitab Express, Quality Companion, Quality Trainer and Qeystone.
Predictive Modeling is a process that is used in the case of predictive analytics for the creation of a statistical model with respect to the behaviour in future. The area of data mining that is concerned with the forecasting of trends as well as probabilities is predictive analytics. A number of predictors make up the predictive model. These are the variable factors that have a very likely influence on the behaviour or the results in the future. For instance, in the case of marketing, the purchase history, age and gender of the customer may predict the probability of a sale in future.
In the case of predictive modelling the collection of the data is done for the relevant predictors, the formulation of the statistical model is done, predictions are made after that, followed by the revision or validation of the model as the availability of the data increases. The application of a simple linear equation or a neural network that is complex may be employed by the model. This is mapped out by software which is sophisticated.
Minitab and its Application to Predictive Modelling Course
The course regarding “Minitab and its Application to Predictive Modelling” is aimed at providing and enhancing the skills of predictive modelling across a number of business domains as well as sectors. Quantitative methods along with the concepts of predictive modelling will be made use of in an extensive way for an understanding of the current behaviour of the customers, movements of the financial markets and for the purpose of studying the tests as well as the effects in the sectors of pharma and medicine after the administration of the drugs.
For the purpose of predictive analysis, the practical and also the theoretical databases are covered by the course. As the participant goes through the training that this course provides, the observations and interpretations along with the predictions and conclusions are explained then and there and relevant examples are also provided.
This course will be helpful in working across a number of software packages like Paint, PDF writers, MS Office and Minitab. Apart from this, the distribution of the course has been done through six sub courses. The details of the six sub courses have been mentioned below –
Minitab and its Application to Predictive Modelling
The aim of the course is to provide skills from the basic to the intermediate level for the implementation of the concepts of Predictive Modelling with the help of the Minitab software. Although, development of the concepts of Predictive Modelling is significant, the capability of implementing it by making proper use of the appropriate software packages is of equal significance. The course attempts to fill in the gap that exists between an understanding of the various concepts and their practical implementation.
T-test, Standard Deviation, Means and Descriptive Statistics are all explained by this course. The concepts of descriptive statistics that are explained by this course act as the building blocks for the other related courses that follow this course.
Objective of the Course
The aim of this course on Predictive Modelling is providing and enhancing the skills of predictive modelling across a number of business sectors and domains.
The curriculum for “Minitab and its Application to Predictive Modelling” consists of the following sections and sub-sections.
Minitab and its Application to Predictive Modelling –
This section consists of the following subsections
- Introduction to the concept of Predictive Modelling
- Non Linear regression
- Anova as well as Control Charts
Descriptive Statistics, Means and Standard Deviation –
This part consists of the following sub-sections –
- Understanding, Interpretation as well as Implementation with the use of Minitab
- Continuation of Interpretation as well as Implementation with the use of Minitab
- Outcomes for the NAV prices
- Observations of the NAV prices
- Descriptive Statistics
- Observations of the complaints of the customers
- Observations of the Resting Heart Rate
- Outcomes of the Loan Applicant MTW
- More details on the outcomes for the Loan Applicant MTW
- T-Test features
- Loan Applicant
- Paired T – Test
What are the requirements/pre-requisites?
The participant needs to possess a prior knowledge of the quantitative methods, Paint as well as MS Office.
Besides, the above two requirements, the participant need to have a computer with an internet connection as a pre-requisite for learning this course.
Target Audience for this training
The course on “Minitab and its application to Predictive Modelling” does not focus on any particular set of domains or sectors and therefore it can be used easily by a number of professionals across different sectors. However, the best use of this course can be made by the list of professionals which has been mentioned below.
- Pharma and research scientists
- Professionals of Equity Research and CFA’s
- Quantitative as well as Predictive Modellers and Professionals