www.scheller.gatech.edu/bac

Solving for Why:Impact of Machine Learning on Business Decision-Making

Beverly Wright, PhD, CAPExecutive DirectorBusiness Analytics Center

www.scheller.gatech.edu/bac

2Overview

Application of Machine Learning for Business Questions

Closing Remarks

Defined: Machine Learning

Reasoning: hypothesis vs data initiation points

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3Vision

The Vision of the Business Analytics Center, Georgia Tech:

To be a nationally recognized Center in business analytics, sought-after partner for business analytics opportunities and challenges, renowned for our emphasis on experiential learning and innovative research.

4Definition: machine learning

“constructing algorithms that can analyze and learn from data in order to categorize such data and make related predictions.

“…it’s about enabling computers to learn things they have not necessarily been programmed to learn.”

http://www.cc.gatech.edu/research/machine-learning

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5Hypothesis vs Data Driven Analytics Initiation

Business question / Hypothesis / Data / Testing / Confirm / Deny / Conclusion / Action

6Hypothesis vs Data Driven Analytics Initiation

Data / Patterns / Optimal Method / Conclusion / Action

7Efficiencies we can gain…

Data initiated approach

• Supervised• Unsupervised

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8Illustration: flip flop wearing

Process –

• Identify important variables

• Grouping variables – keep and redundancy

• Relationships• Transformations• Techniques

@GeorgiaTechBsch 05/03/2023

Examples from Business

10Reservation CancellationsMeaning of cancellation

Factors to consider• Traveler• Purpose• Weather• Location

Possible analytics methods

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11Home Auctions

Number of bids, views, page hits, sale

LocationHome qualityInventoryBuyerMacroeconomics

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12Influencing / Encouraging Altruistic BehaviorBehaviors• Types of altruism• Frequency• Intensity

Volunteer & Organization:Identification

Attributes Interactions and communications

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The Future for Machine Learning

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“We don’t all have to become data scientists in order to work with the machine. The machine needs to become more human and work with us”

KRIS HAMMOND

CHIEF SCIENTIST, NARRATIVE SCIENCE

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Some people don't like change, but you need to embrace change if the alternative is disaster.

~ Elon Musk

@GeorgiaTechBsch 05/03/2023

Business Analytics CenterLearn More

18Upcoming Event: Business Analytics Think Tank Roundtable –Use and Impact of Artificial Intelligence in Analytics

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19Executive Education

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Thanks

Business Analytics CenterBeverly Wright, PhD, CAPExecutive Director