20564 - BIG DATA FOR BUSINESS DECISIONS
Department of Accounting
Course taught in English
FRANCESCO GROSSETTI
Suggested background knowledge
Mission & Content Summary
MISSION
CONTENT SUMMARY
- Definition of Big Data and modern data ecosystems.
- Parallel and distributed computing.
- Machine learning: supervised and unsupervised methods.
- Model evaluation and validation.
- Survival Analysis and time-to-event modeling.
- Natural Language Processing and text mining.
- Artificial Intelligence: Neural Networks and deep learning.
- Introduction to programming in R.
- Machine learning in R.
Intended Learning Outcomes (ILO)
KNOWLEDGE AND UNDERSTANDING
- dentify business problems where modern data analytics and machine learning can generate actionable insights.
- Distinguish between supervised and unsupervised machine learning methods and select the appropriate approach for a given problem.
- Describe the main techniques for model evaluation and explain how to compare competing models.
- Explain the key challenges of analyzing unstructured textual data and illustrate the main NLP approaches to address them.
- Describe the architecture of Artificial Neural Networks and identify their main components and applications.
- Summarize and communicate data-driven findings to both technical and non-technical audiences.
APPLYING KNOWLEDGE AND UNDERSTANDING
- Apply data-analytic thinking to diagnose and solve business problems involving potentially large and/or complex datasets.
- Implement machine learning and NLP pipelines in R, from data preparation through model evaluation.
- Produce data visualizations and statistical summaries that communicate findings clearly to diverse audiences.
- Collaborate in small teams to design, execute, and present a data analysis project in a structured scientific report.
Teaching methods
- Lectures
- Practical Exercises
- Individual works / Assignments
- Collaborative Works / Assignments
DETAILS
- Recorded walkthroughs of R programming labs are made available to students for independent review and home practice.
- Attending students complete a collaborative group assignment in which they apply course methods to a real dataset, culminating in an in-class presentation at the end of the course.
Assessment methods
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ATTENDING STUDENTS
- One group assignment consisting of a technical report and an in-class presentation, representing 80% of final grade. Students apply the methods covered in the course to a realistic dataset or case of their choice, verifying their ability to implement, evaluate, and communicate a data-driven solution — directly assessing the applying-knowledge and transversal (teamwork, communication) outcomes. The in-class discussion also allows the instructor to verify individual understanding through follow-up questions.
- One final multiple-choice written exam representing 20% of final grade, verifying students' acquisition of the core theoretical and conceptual knowledge covered in the course.
NOT ATTENDING STUDENTS
- One individual assignment consisting of a technical report and a pre-recorded video presentation, representing 60% of final grade, submitted to the instructor for review. This verifies the same applying-knowledge outcomes as the group assignment, adapted to an individual format since non-attending students do not take part in in-class discussion.
- One final multiple-choice written exam representing 40% of final grade, verifying the same theoretical knowledge outcomes as for attending students; the higher weight compensates for the absence of an in-class discussion component.
Teaching materials
ATTENDING AND NOT ATTENDING STUDENTS
Main source:
- Slides provided by the instructor.
- Papers will also be circulated by the instructor.
Additional sources:
- B. BAUMER, D. KAPLAN, N. HORTON (edition by CRC Press), Modern Data Science with R. — Covers the full data science workflow from a business/social science perspective, very well aligned with the course audience.
- M. KUHN, J. SILGE (edition by O'Reilly), Tidy Modeling with R. — A natural companion to the existing Silge & Robinson text; covers model building, evaluation, and cross-validation in a consistent tidyverse framework.
- J. SILGE, D. ROBINSON (edition by O'REALLY),Text Mining with R: A Tidy Approach.
- G. GROLEMUND, H. WICKHAM (edition by O'REALLY), R for Data Science.
- G. GROLEMUND (edition by O'Really), Hands-On Programming with R: Write Your Own Functions and Simulations.
Advanced readings:
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Trevor Hastie, Robert Tibshirani, Jerome Friedman:The Elements of Statistical Learning: Data Mining, Inference, and Prediction, Second Edition (available in pdf here: https://web.stanford.edu/~hastie/ElemStatLearn/printings/ESLII_print12.pdf
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G. JAMES, D. WITTEN, T. HASTIE, R. TIBSHIRANI (edition by Springer), An Introduction to Statistical Learning with Applications in R (ISLR). — A more accessible companion to ESL, with R labs directly relevant to the course. Freely available at https://www.statlearning.com. Given that ESL is already listed, ISLR is the natural stepping stone students will actually use.
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E. FRANK, M. HALL, I. WITTEN (edition by Morgan Kaufmann), Data Mining: Practical Machine Learning Tools and Techniques. — Strong on model evaluation and practical ML, good complement to the Hastie et al. texts.
- F. CHOLLET (edition by Manning Publications), Deep Learning with R.
- F. CHOLLET (edition by Manning Publications), Deep Learning with Python.