Business Analytics for Professionals

488 Pages·2022·12.529 MB·English

by  Alp Ustundag, Emre Cevikcan, Omer Faruk Beyca

Springer Series in Advanced Manufacturing
Alp Ustundag
Emre Cevikcan
Omer Faruk Beyca   Editors
Business
Analytics
for Professionals
Springer Series in Advanced Manufacturing
SeriesEditor
DucTruongPham,UniversityofBirmingham,Birmingham,UK
The Springer Series in Advanced Manufacturing includes advanced textbooks,
researchmonographs,editedworksandconferenceproceedingscoveringallmajor
subjectsinthefieldofadvancedmanufacturing.
Thefollowingisanon-exclusivelistofsubjectsrelevanttotheseries:
1. Manufacturingprocessesandoperations(materialprocessing;assembly;testand
inspection;packagingandshipping).
2. Manufacturing product and process design (product design; product data
management;productdevelopment;manufacturingsystemplanning).
3. Enterprise management (product life cycle management; production planning
andcontrol;qualitymanagement).
Emphasiswillbeplacedonnovelmaterialoftopicalinterest(forexample,books
onnanomanufacturing)aswellasnewtreatmentsofmoretraditionalareas.
As advanced manufacturing usually involves extensive use of information and
communication technology (ICT), books dealing with advanced ICT tools for
advancedmanufacturingarealsoofinteresttotheSeries.
Springer and Professor Pham welcome book ideas from authors. Potential
authors who wish to submit a book proposal should contact Anthony Doyle,
ExecutiveEditor,Springer,e-mail:[email protected].
Moreinformationaboutthisseriesathttps://link.springer.com/bookseries/7113
· ·
Alp Ustundag Emre Cevikcan Omer Faruk Beyca
Editors
Business Analytics
for Professionals
Editors
AlpUstundag EmreCevikcan
IsletmeFakultesi IsletmeFakultesi
IstanbulTechnicalUniversity IstanbulTechnicalUniversity
Istanbul,Turkey Istanbul,Turkey
OmerFarukBeyca
IsletmeFakultesi
IstanbulTechnicalUniversity
Istanbul,Turkey
ISSN 1860-5168 ISSN 2196-1735 (electronic)
SpringerSeriesinAdvancedManufacturing
ISBN 978-3-030-93822-2 ISBN 978-3-030-93823-9 (eBook)
https://doi.org/10.1007/978-3-030-93823-9
©TheEditor(s)(ifapplicable)andTheAuthor(s),underexclusivelicensetoSpringerNature
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Preface
Asoneofthemostvaluableassetsforindustrialsystems,datahasanenormousimpact
onsustainablesuccessofbusinessestoobtaincompetitiveadvantage.Theincreasing
sizeandvarietyofdatahasrevealednewtechnologiesthatenabletheanalysisofbig
data.Especially,afterreal-timedatacollectionandstoragearefacilitatedviasmart
business and product concepts using digital transformation technologies, business
analyticsprovidesanewdimensiontoenterpriseswhenrevealingnewinsightsfor
decision-making process by using the array of machine learning techniques on a
varietyofstructuredandunstructureddataunderinterdisciplinaryenvironment.As
a pillar of business analytics, intelligent automated systems have come of age not
onlybecausetechnologieshavematured,butalsoinresponsetobusinessneeds.The
newgenerationofdecisionmakingisdirectlyembedded inmainbusinessprocess
flowsthatmovefrominsighttoactioninarapidandoptimalmannerwhilepreventing
thelimitationsofearlierdecisionsupporttechniquesintermsofhumanintervention
andthetimetoanalyzeandmaintainthem.
In this context, this book not only introduces implementation aspects of busi-
nessanalytics,butalsoprovidestheoreticalbackgroundforitsmanagement-related
approachesandtechnologieswithapplicationcases.Thisbookisdividedintotwo
main parts. In the first part, methods, tools and technologies which are needed for
business data analytics will be introduced. Techniques used in descriptive, predic-
tive and prescriptive analytics are explained from the business perspective. In the
secondpart,thebookaddressesgivingthecomprehensionofhowbusinessesreceive
application-oriented advantages of intelligentautomation asanindustrialstrength.
To satisfy this objective, applications of the analytical tools to different areas of
the business functions are given. Detailed problems and their solutions for busi-
nessproblemsinvariousareassuchassupplychain,marketingandCRM,financial,
manufacturingandhumanresourcesarepresentedwiththeirPythoncodes.
PleasenotethatalldatasetandGoogleColabJupyternotebooksforapplications
andcasestudiesgiveninthechaptersofthebookcanbereachedfromthefollowing
linksorQRCode:https://bit.ly/3E6RKWs,https://github.com/ITU-Business-Analyt
ics-Team.
v
vi Preface
Whenthesolutionsfordata-relatedproblemsaboutthemanagementofbusiness
functions in real-life industrial systems are concerned, inadequacy in theoretical
backgroundcanbeobservedduetochallengesandcomplexitiestothecurrenttech-
niques.Ontheotherhand,althoughanumberofalgorithmsandmethodshavebeen
developed in scientific manner, very few of them have been validated on real-life
data and some obstacles may be encountered about their applicability. Therefore,
the book is triggered by the requirement for enhancing theoretical perspective of
professionals when bringing business analytics solutions for decision problems in
strategical,tacticalandoperationallevels.
Therearenumerousbooksaboutbusinessanalytics,butnoneofthemexplainboth
managerial andtechnological aspectsofbusiness analytics inanintegrated frame-
work.Inthissituation,thisbookfillsthegapbetweenreal-worldbusinessmanage-
ment problems and solution techniques by providing comprehensive guidance for
managersaboutbusinessanalytics.
The intended audience of this book will mainly consist of researchers working
ontheareasofbusinessanalytics,AIandmachinelearningintelligentautomation
as well as practitioners such as business analysts, data scientists, IT professionals,
system integrators and consultants in various sectors. The book is also of interest
to graduates and undergraduates in business analytics, data science, engineering
managementandindustrialengineering.
Wewouldliketothankalltheauthorsforcontributingtothisbook:
(cid:129)
AbdullahEminKazdaloglu,IstanbulTechnicalUniversity
(cid:129)
AlpUstundag,IstanbulTechnicalUniversity
(cid:129)
AltanCakir,IstanbulTechnicalUniversity
(cid:129)
ArifGulbiter,IstanbulTechnicalUniversity
(cid:129)
AycanPekpazar,IstanbulTechnicalUniversity
(cid:129)
BasarOztaysi,IstanbulTechnicalUniversity
(cid:129)
BehcetUgurToreyin,IstanbulTechnicalUniversity
(cid:129)
BuseSibelKorkmaz,TechnicalUniversityofMunich
(cid:129)
CigdemAltinGumussoy,IstanbulTechnicalUniversity
(cid:129)
CigdemKadaifci,IstanbulTechnicalUniversity
(cid:129)
DoganOruc,IstanbulTechnicalUniversity
(cid:129)
EmreAri,IstanbulTechnicalUniversity
(cid:129)
EmreCevikcan,IstanbulTechnicalUniversity
(cid:129)
ErkanIsikli,IstanbulTechnicalUniversity
(cid:129)
HidayetBeyhan,IstanbulTechnicalUniversity
Preface vii
(cid:129) ˙IbrahimYazici,IstanbulTechnicalUniversity
(cid:129)
KenanMenguc,IstanbulTechnicalUniversity
(cid:129)
KubraCetinYildiz,IstanbulTechnicalUniversity
(cid:129)
LeylaTemizer,IstanbulUniversity
(cid:129)
MahmutSamiSivri,IstanbulTechnicalUniversity
(cid:129)
MehmetAliErgun,IstanbulTechnicalUniversity
(cid:129)
MehmetYasinUlukus,IstanbulTechnicalUniversity
(cid:129)
MiracMurat,KaradenizTechnicalUniversity
(cid:129)
NevcihanToraman,IstanbulTechnicalUniversity
(cid:129)
NizamettinBayyurt,IstanbulTechnicalUniversity
(cid:129)
NursahAlkan,IstanbulTechnicalUniversity
(cid:129)
NurullahCalik,IstanbulMedeniyetUniversity
(cid:129)
OmerFarukBeyca,IstanbulTechnicalUniversity
(cid:129)
OzgurAkarsu,KocDigital
(cid:129)
OzgurKabak,IstanbulTechnicalUniversity
(cid:129)
SeferBaday,IstanbulTechnicalUniversity
(cid:129)
SevalAta,IstanbulTechnicalUniversity
(cid:129)
SeziCevikOnar,IstanbulTechnicalUniversity
(cid:129)
SuleItirSatoglu,IstanbulTechnicalUniversity
(cid:129)
SultanCerenOner,HuaweiTurkey
(cid:129)
TolgaAhmetKalayci,IstanbulTechnicalUniversity
(cid:129)
UmutAsan,IstanbulTechnicalUniversity
(cid:129)
YakupTurgut,IstanbulTechnicalUniversity
(cid:129)
YildizKose,IstanbulTechnicalUniversity
(cid:129)
YusufIsik,IstanbulTechnicalUniversity
(cid:129)
ZeynepBurcuKizilkan,IstanbulTechnicalUniversity
WewouldalsoliketothankourcolleaguesNursahAlkan,ZeynepBurcuKizilkan,
YildizKose,MahmutSamiSivriandSevalAtafortheirsupporttopreparethefinal
formatofthebook.Andfinally,wethankourfamiliesfortheirmoralsupportand
endlesspatience.
Istanbul,Turkey AlpUstundag
2021 EmreCevikcan
OmerFarukBeyca
Contents
MethodsandTechnologiesforBusinessAnalytics
BusinessAnalyticsforManagers .................................... 3
YakupTurgut,YildizKose,AlpUstundag,andEmreCevikcan
DescriptiveAnalytics .............................................. 21
NizamettinBayyurtandSeferBaday
PredictionModeling ............................................... 49
NursahAlkan, YakupTurgut, EmreAri, SevalAta,
MehmetYasinUlukus,MehmetAliErgun,andOmerFarukBeyca
TimeSeriesAnalysis ............................................... 113
ErkanIsikli,LeylaTemizer,AbdullahEminKazdaloglu,andEmreAri
NeuralNetworksandDeepLearning ................................ 127
ZeynepBurcuKizilkan, MahmutSamiSivri, IbrahimYazici,
andOmerFarukBeyca
FeatureEngineering ............................................... 153
AlpUstundag,MahmutSamiSivri,andKenanMenguc
TextAnalytics ..................................................... 171
MahmutSamiSivriandBuseSibelKorkmaz
ImageAnalysis .................................................... 201
NurullahCalikandBehcetUgurToreyin
PrescriptiveAnalytics:OptimizationandModeling ................... 239
NursahAlkan,KenanMenguc,andÖzgürKabak
BigDataManagementandTechnologies ............................. 265
AltanCakir
ix
x Contents
BusinessApplications
SupplyChainAnalytics ............................................ 289
YakupTurgut,KenanMenguc,NursahAlkan,YildizKose,SevalAta,
SuleItirSatoglu,andOzgurKabak
CRMandMarketingAnalytics ..................................... 335
SultanCerenOner, YusufIsik, AbdullahEminKazdaloglu,
MiracMurat, TolgaAhmetKalayci, KubraCetinYildiz,
AycanPekpazar, MahmutSamiSivri, NevcihanToraman,
BasarOztaysi,UmutAsan,andCigdemAltinGumussoy
FinancialAnalytics ................................................ 393
MahmutSamiSivri, AbdullahEminKazdaloglu, EmreAri,
HidayetBeyhan,andAlpUstundag
HumanResourcesAnalytics ........................................ 437
OzgurAkarsu,CigdemKadaifci,andSeziCevikOnar
ManufacturingAnalytics ........................................... 457
NursahAlkan,DoganOruc,ArifGulbiter,andMehmetAliErgun