Johannes Ledolter, PhD C. Maxwell Stanley Professor of International Operations Management Tippie College of Business University of Iowa http://www.biz.uiowa.edu/faculty/jledolter
Data mining and business analytics with big and small data - it is not always size that matters
Abstract: Will review useful methods for data mining and business analytics describing several applications and case studies where these methods have proven useful. Also will discuss the importance of collecting one's own data through carefully designed statistical experiments.
Ledolter, J. and Swersey, A.J.: Testing 1 - 2 - 3: Experimental Design with Applications in Marketing and Service Operations, Stanford University Press, 2007.
Abstract: Tree regression and classification modeling play a fundamental role in data mining. In addition to being an important method in their own right, trees are often used in ensemble methods such as bagging and boosting in which high dimensional models are built up from many trees. In this talk, we review practical Bayesian approaches to data mining with trees and illustrate simple, easy to use, software implementations which are available in R.
Fitting trees to data presents interesting challenges. There are many possible tree structures so that searching the tree space for an appropriate model is challenging. Bayesian inferential methods have much to offer. The prior specification allows for parsimonious regularization of the fit as well as nonparametric model specification. Markov chain Monte Carlo provides a framework for specifying stochastic searches in this vast model space. Recent advances in parallel computing have made these Bayesian approaches practical for large data sets.
08:30-09:00 Registration 09:00-09:15 Welcome 09:15-10:30 Robert McCulloch: Part I 10:30-11:00 Break 11:00-11:30 Robert McCulloch: Part II 11:30-12:00 Johannes Ledolter: Part I 12:00-01:00 Lunch on your own 01:00-02:30 Johannes Ledolter: Part II 02:30-03:00 Break 03:00-04:30 Johannes Ledolter: Part III 05:00-? Dinner with the speakers: Restaurant TBD; please RSVP