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Course

Machine Learning for Business

BasicSkill Level

4.8+

Updated 11/2024

Understand the fundamentals of Machine Learning and how it's applied in the business world.

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TheoryMachine Learning

2 hr

15 videos

48 Exercises

3,200 XP

45,670

Statement of Accomplishment

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Course Description

Learn the Basics of Machine Learning

This course will introduce the key elements of machine learning to the business leaders. We will focus on the key insights and base practices how to structure business questions as modeling projects with the machine learning teams.

Dive into the Model Specifics

You will understand the different types of models, what kind of business questions they help answer, or what kind of opportunities they can uncover, also learn to identify situations where machine learning should NOT be applied, which is equally important. You will understand the difference between inference and prediction, predicting probability and amounts, and how using unsupervised learning can help build meaningful customer segmentation strategy.

Prerequisites

There are no prerequisites for this course

1

Machine learning and data use cases

Machine learning is used in many different industries and fields. It can fundamentally improve the business if applied correctly. This chapter outlines machine learning use cases, job roles and how they fit in the data needs pyramid.

Machine learning and data pyramid

Terminology clarification

Order data pyramid needs

Match tasks in data pyramid

Machine learning principles

Modeling types

Find supervised and unsupervised cases

Job roles, tools and technologies

Job role responsibilities

Match data projects with job roles

Team structure types

2

Machine learning types

This chapter overviews different machine learning types. We will look into differences between causal and prediction models, explore supervised and unsupervised learning, and finally understand the sub-types of supervised learning: classification and regression.

Prediction vs. inference dilemma

Inference and prediction differences

Identify inference vs. prediction use cases

Inference (causal) models

Experiments and causal models

Identify non actionable variables

Prediction models (supervised learning)

Supervised modeling principles

Identify classification and regression models

Prediction models (unsupervised learning)

Unsupervised modeling use cases

Classification, regression or unsupervised models

3

Business requirements and model design

This chapter reviews key steps in scoping out business requirements, identifying and sizing machine learning opportunities, assessing the model performance, and identifying any performance risks in the process.

Business requirements

Identify situation, opportunity and action

Identify successful experiments

Model training

Model training process

Training, validation and test

Model performance measurement

Poor performance examples

Identify performance metrics

Machine learning risks

Fixing non performing models

Non-actionable models

Identify actionable recommendations

4

Managing machine learning projects

This chapter will look into the best and worst practices of managing machine learning projects. We will identify most common machine learning mistakes, learn how to manage communication between the business and ML teams and finally address the challenges when deploying machine learning models to production.

Machine learning mistakes

Identify machine learning mistakes

Data needs pyramid

Match ML mistakes by their types

Communication management

Business communication focus

Market testing

Machine learning in production

Production systems

Production systems ML use cases

ML in production launch

Machine Learning for Business

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FAQs

Do I need programming skills for this course?

No. This is a theory-based beginner course with no prerequisites. It is designed for business leaders and managers, not programmers.

What types of machine learning models are covered?

You will learn about supervised and unsupervised learning, inference versus prediction models, probability and amount prediction, and customer segmentation strategies.

Will this course teach me when not to use machine learning?

Yes. The course specifically covers situations where machine learning should not be applied, which is an important skill for making sound business decisions.

How does this course help business leaders?

It teaches you to structure business questions as modeling projects, communicate effectively with data teams, and evaluate whether machine learning fits a given problem.

How long does this course take?

The course has 4 chapters and 48 exercises. Most learners finish it in about 1.5 hours.

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