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Computational Intelligence in Business Analytics: Concepts, Methods, and Tools for Big Data Applications by Les Sztandera Ph.D

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Chapter 3. Computational Intelligence versus Statistical Approaches

Learning Objectives

1. To understand the difference between Computational Intelligence and statistical models

2. To gain insights into Computational Intelligence by learning the conditions under which it could be used

3. To understand when Computational Intelligence has an upper hand over statistical approaches

4. To understand that Computational Intelligence is needed when managers face big data problems, and are uncertain of their assumptions needed to specify consequences and impact of decision alternatives

5. To appreciate the power of Computational Intelligence in adding value to one’s business

3.1. Introduction

While most (if not all) literature on big data analysis utilizes ...

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