Programme

PGP

Term

V

Academic Year

2021-22

Course title

Statistical Methods in Data Analysis

Area

Production & Quantitative Methods

Credits

1.25

Instructor(s)

Prof. Karthik Sriram

Course Description & Objectives

Introduction: Companies and regulators alike are placing more and more emphasis on objective decision making based on data. Strategic decisions of companies depend on findings from data analysis tasks such as estimating market share of a product, deciphering the latent reasons underlying a consumer’s basket of product preferences, prediction of defaults on a bank’s loan portfolio etc. Therefore, design, collection and analysis of data have been playing an increasingly crucial role in decision making. This course introduces participants to some modern statistical techniques in data analysis. While the course is primarily application focused, it will provide adequate theoretical background so that participants can confidently formulate and apply these techniques in real life situations Practical exercises will be mostly done in R and Excel. The required R coding will be covered during the course. R software and the supporting GUI, can be freely downloaded from https://cran.r-project.org/ and https://www.rstudio.com Objectives: ​To provide a good understanding and working knowledge of basic principles and methods in sampling and estimation, some unsupervised learning techniques and supervised learning techniques that can used in analysis of data.

Pedagogy

Interactive Lectures and hands on practical exercises on estimation and data analysis.