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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 SwitzerlandAG2022 Thisworkissubjecttocopyright.AllrightsaresolelyandexclusivelylicensedbythePublisher,whether thewholeorpartofthematerialisconcerned,specificallytherightsoftranslation,reprinting,reuse ofillustrations,recitation,broadcasting,reproductiononmicrofilmsorinanyotherphysicalway,and transmissionorinformationstorageandretrieval,electronicadaptation,computersoftware,orbysimilar ordissimilarmethodologynowknownorhereafterdeveloped. Theuseofgeneraldescriptivenames,registerednames,trademarks,servicemarks,etc.inthispublication doesnotimply,evenintheabsenceofaspecificstatement,thatsuchnamesareexemptfromtherelevant protectivelawsandregulationsandthereforefreeforgeneraluse. Thepublisher,theauthorsandtheeditorsaresafetoassumethattheadviceandinformationinthisbook arebelievedtobetrueandaccurateatthedateofpublication.Neitherthepublishernortheauthorsor theeditorsgiveawarranty,expressedorimplied,withrespecttothematerialcontainedhereinorforany errorsoromissionsthatmayhavebeenmade.Thepublisherremainsneutralwithregardtojurisdictional claimsinpublishedmapsandinstitutionalaffiliations. ThisSpringerimprintispublishedbytheregisteredcompanySpringerNatureSwitzerlandAG Theregisteredcompanyaddressis:Gewerbestrasse11,6330Cham,Switzerland 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

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