Workshop
Thursday, June 23, 2016 in Chicago
Full-day: 9:00am - 4:30pm
Room: Salon A2
The Best and the Worst of Predictive Analytics: Predictive Modeling Methods and Common Data Mining Mistakes
A free copy of John Elder's book Statistical Analysis and Data Mining Applications is included.
Intended Audience: Interested in the true nuts and bolts
Knowledge Level: Familiar with the basics of predictive modeling.
Attendees will receive an electronic copy of the course notes via USB drive.
More statements of testimony:
"You don't know what you don't know ... after this course, I now know what I don't know and what I should develop greater understanding in for both myself, my company and our clients"
– Sean Liddle, Deloitte
"Some very complex topics were explained very comprehensively and clearly, and put into a wider context of how to use these in real-life situations."
– Colin Styles, Information Architect, Sussex Health Informatics Service
Workshop Description
Predictive analytics has proven capable of enormous returns across industries – but, with so many core methods for predictive modeling, there are some tough questions that need answering:
- How do you pick the right one to deliver the greatest impact for your business, as applied over your data?
- What are the best practices along the way?
- And how do you avoid the most treacherous pitfalls?
This one-day session surveys standard and advanced methods for predictive modeling.
Dr. Elder will describe the key inner workings of leading algorithms, demonstrate their performance with business case studies, compare their merits, and show you how to pick the method and tool best suited to each predictive analytics project. Methods covered include classical regression, decision trees, neural networks, ensemble methods, uplift modeling and more.
The key to successfully leveraging these methods is to avoid “worst practices”. It's all too easy to go too far in one's analysis and “torture the data until it confesses” or otherwise doom predictive models to fail where they really matter: on new situations.
Dr. Elder will share his (often humorous) stories from real-world applications, highlighting the Top 10 common, but deadly, mistakes. Come learn how to avoid these pitfalls by laughing (or gasping) at stories of barely averted disaster.
If you'd like to become a practitioner of predictive analytics – or if you already are, and would like to hone your knowledge across methods and best practices, this workshop is for you!
What you will learn:
- The tremendous value of learning from data
- How to create valuable predictive models for your business
- Best Practices by seeing their flip side: Worst Practices
Schedule
- Workshop starts at 9:00am
- Morning Coffee Break at 10:30am - 11:00am
- Lunch provided at 12:30 - 1:15pm
- Afternoon Coffee Break at 2:30pm - 3:00pm
- End of the Workshop: 4:30pm
Attendees receive a free copy of John Elder's book Statistical Analysis and Data Mining Applications, an electronic copy of the course notes via USB drive, and an official certificate of completion at the conclusion of the workshop.
Instructor
Dr. John Elder, CEO & Founder, Elder Research, Inc.
Dr. John Elder heads the US's leading data mining consulting team -- with offices in Charlottesville Virginia, Washington DC, Baltimore Maryland, and Manhasset New York. Founded in 1995, Elder Research (www.datamininglab.com) focuses on investment, commercial and security applications of advanced analytics, including text mining, credit scoring, image recognition, process optimization, cross-selling, drug efficacy, market timing, and fraud detection.
John obtained a BS and MEE in Electrical Engineering from Rice University, and a PhD in Systems Engineering from the University of Virginia, where he's an adjunct professor teaching Optimization or Data Mining. Prior to 18 years at ERI, he spent 5 years in aerospace defense consulting, 4 heading research at an investment management firm, and 2 in Rice's Computational & Applied Mathematics department.
Dr. Elder has authored innovative data mining tools, is a frequent keynote speaker, and was co-chair of the 2009 Knowledge Discovery and Data Mining conference, in Paris. John was honored to serve for 5 years on a panel appointed by President Bush to guide technology for National Security. His book with Bob Nisbet and Gary Miner, Handbook of Statistical Analysis & Data Mining Applications, won the PROSE award for Mathematics in 2009. His book with Giovanni Seni, Ensemble Methods in Data Mining, was published in February 2010, and his book on Practical Text Mining, with Andrew Fast and 4 others, won the 2012 PROSE Award for top book in Computing and Information Sciences.
John is honored to be a follower of Christ and father of 5.
