Insegnamento a.a. 2026-2027

20564 - BIG DATA FOR BUSINESS DECISIONS

Department of Accounting


Course taught in English
Go to class group/s: 31
ACME (6 credits - I sem. - OP  |  SECS-P/07) - AFM (6 credits - I sem. - OP  |  SECS-P/07) - AI (6 credits - I sem. - OP  |  SECS-P/07) - CLMG (6 credits - I sem. - OP  |  SECS-P/07) - EMIT (6 credits - I sem. - OP  |  SECS-P/07) - ESS (6 credits - I sem. - OP  |  ECON-06/A  |  SECS-P/07) - FIN (6 credits - I sem. - OP  |  SECS-P/07) - GIO (6 credits - I sem. - OP  |  SECS-P/07) - IM (6 credits - I sem. - OP  |  SECS-P/07) - MM (6 credits - I sem. - OP  |  SECS-P/07) - PPA (6 credits - I sem. - OP  |  SECS-P/07)
Course Director:
FRANCESCO GROSSETTI

Classes: 31 (I sem.)
Instructors:
Class 31: FRANCESCO GROSSETTI


Suggested background knowledge

To properly follow the course, it is strongly recommended to be confident with: probability and hypothesis testing, linear regression (OLS, panel regressions), clustering. The course also relies heavily on the R programming language which will be taught in dedicated lab sessions. Nevertheless, it is strongly suggested to possess a basic knowledge and understanding of what a programming language is and how it works. Familiarity with the R programming language specifically, although not requested, is highly encouraged.

Mission & Content Summary

MISSION

The rise of AI and large-scale data analytics has blurred the boundary between business and technical roles. The mission of this course is to train students of business administration and related fields to become informed and active participants in data-driven decision-making. Through a combination of data mining, statistical modeling, machine learning, natural language processing, and programming in R, students will build the conceptual foundations and practical skills needed to extract, interpret, and communicate insights from complex datasets. This is a key skill and as it allows to bridge the gap between domain expertise and modern analytical practice.

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

At the end of the course student will be able to...
  • 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

At the end of the course student will be able to...
  • 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

  Continuous assessment Partial exams General exam
  • Written individual exam (traditional/online)
    x
  • Individual Works/ Assignment (report, exercise, presentation, project work etc.)
x    
  • Collaborative Works / Assignment (report, exercise, presentation, project work etc.)
x    

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:

  • Trevor HastieRobert TibshiraniJerome 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

  • 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.

  • 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.
Last change 07/05/2026 17:50