Let’s use simulation to improve our business model innovations. In this video, we’ll focus on the practical techniques of prescriptive modeling, what they mean, and how they make a difference in your work. We’ll learn a 5-step process that covers how to frame a choice, how to specify the conditions to make a decision, generating possibilities, conducting tests on those possibilities, and making a choice based on your results. For each of these steps, we’ll work with a code example, using the Iris dataset, and analyze it from the perspective of how it’s useful for prescriptive modeling.
Table of Contents
- Introduction to Applying Prescriptive Modeling Using Data Science 00:02:24
- Inside-Out Innovation: Applying Prescriptive Modeling 00:04:22
- Outside-In Innovation: Applying Prescriptive Modeling 00:04:28
- Framing a Choice: Applying Prescriptive Modeling 00:06:01
- Specifying Conditions in Applying Prescriptive Modeling 00:08:42
- Generating Possibilities when Applying Prescriptive Modeling 00:03:31
- Conducting Tests in Applying Prescriptive Modeling 00:16:07
- Making a Choice in Applying Prescriptive Modeling 00:06:57
- Course Wrap Up 00:06:06
- Title: Applying the Techniques of Prescriptive Modeling
- Release date: March 2017
- Publisher(s): O'Reilly Media, Inc.
- ISBN: 9781491986141