Important concepts to learn during an MBA in Operations Management Whether you are an aspiring student who wants to upskill or a working professional looking to explore new domains or job roles, a Master of Business Administration (MBA) is the most in-demand course you can consider doing. With the recent unprecedented outbreaks and the upgradation in high-speed internet technologies, most candidates are upskilling themselves by enrolling in online degrees like MBA and various popular master’s degree programmes. Online degrees will help you graduate in your desired career path from the comfort of your home MBA being the most sought-after online degree, comes with various specialisations. You can choose your desired major in MBA according to your interest in a specific field and relevant skills. Some popular MBA specialisations include finance, marketing, HRM, BFSI, Operations Management, etc. If you are interested in managing logistics, product development, supply chain management, customer relationship management, and other allied areas, an MBA Operations Management course will be perfect for you. This course is designed comprehensively and includes an extensive syllabus covering a wide range of subjects and important concepts. The Operations Management course not only gives you access to a variety of job roles but also the most required skills that make you stand out from others. If you are wondering about the salary packages for an Operations Management graduate, it’s about time to take a look at the prospects. With the recent boost in the e-commerce industry and blockchain usage by top industry leaders like Amazon, the scope for Operations Management graduates is also relatively increasing. To grab the highest positions in the top MNCs and organisations, you must make sure to fit the job role and possess the required skills. Considering the changing trends and fast-growing e-commerce companies, it can be observed that there will be no near shortage in demand for Operations Management graduates and experts. The best part of an MBA in operations management is that it will open doors to employment options various industries. You will not be limited to a single sector and can choose from multiple options according to your interests. From pharma, automobiles, construction, e-commerce, aviation, and many more industries, you can switch job roles among industries based on your convenience. Public sectors as well as private sectors are also welcoming Operations Management graduates to manage their businesses and achieve business objectives with increased efficiency. Subjects covered in MBA Operations Management The standard MBA in Operations Management is a 2-year course that imparts industry-ready knowledge and skills to the students. You must know the MBA Operations Management syllabus to score top grades and become a highly coveted Operations Management professional. With a brief idea about the overall course content and the subjects involved, you can hone your knowledge and skill set for the best career. However, it should be noted that the MBA Operations Management syllabus might vary across universities. You can also get hands-on experience on real-world problems and various webinars and interact with the industry leaders & professors throughout the course duration. There will be specific elective subjects from which you can pick the desired ones per your selected major. Here’s a look at the standard syllabus of Operations Management. Note that this can vary for each college or university. MBA Operations Management syllabus: The syllabus is divided semester-wise, and candidates get in-depth specialisation knowledge with the progress in each semester. Semester – 1 Semester – 2 Communication Skills Development Business Communication Business Skills Development Project Management Demand And Business Forecasting Production Management Organisation Management Business Policy and Strategic Management Accounting For Managers Business Process Modelling Managerial Economics Enterprise Resource Planning Corporate Environment Production, Planning and Control Quantitative Techniques and Methods Corporate Legal Environment Semester – 3 Semester – 4 It (Information Technology) Seminar Finance Finance Marketing Sales Material Management Operation Management Logistics and Supply Chain Management (SCM) Information Management Operations Management International Business Management Project – 1 Project – 2 Specialisation – HRM Specialisation – HRM MBA Operations Management subjects: Students should focus on the essential MBA Operations Management subjects and electives. You can pick these elective subjects based on your field of interest. Besides these subjects, candidates must also equally focus on projects, workshops, tests, seminars, doubt sessions with experienced faculty, etc. Here’s a look into core subjects or topics along with the electives available. Core subjectsElectivesCorporate Legal Environment Enterprise Resource Planning (ERP) Corporate Environment Supply Chain Management (SCM) and Logistics Accounting For Managers HR Planning and Development Management Managerial Economics Retail Marketing Management Production Management Sales Management Project Management Sales and Distribution Management Business Skills Development Operations Management and Strategy Organisation Management Industrial Marketing Business Communication Consumer Behaviour Quantitative Techniques and Methods International Marketing Advertising Demand Forecasting Organisational Change and Development Business Forecasting HRM Learn how Supply Chain Management and Operations Management go hand in hand Key Operations Management topics you must familiarise with Here are some must-learn Operations Management topics that will help you understand this specialisation’s essence. Excellent knowledge of these concepts will aid in transforming any candidate into a top student and the desired employee by top recruiters. Students should also pay attention to acquiring the practical skills considering that theoretical knowledge alone is insufficient to thrive in this competitive market. Below are the top eight key concepts in MBA Operations Management that one must familiarise with throughout this course. Production, planning, and control Also known as PPC, this is the predetermined process or technique used to plan every single step to be taken in the long-term production process. The main objective of PPC is to help the business make the right decision at the right time and place to achieve optimal or maximum efficiency. PPC is crucial to various business concerns as it enables the production units to manufacture within the planned schedule resulting in timely delivery of products to potential customers. There are multiple benefits of PPC, such as minimum wastage, high-quality products at minimum costs, optimal resource utilisation, increased labour productivity, and more. The outcomes of PPC include better CRM, improved customer satisfaction, decreased potential bottlenecks, reduced turnaround or lead time, optimum inventory, etc. Behavioural operations management BOM or Behavioural operations deals with the decision-making processes in which human emotions and behaviours are considered to thoroughly study the effect of these on complex decisions. This is one of the major subfields in Operations Management which is further subdivided into various key topics that enable the candidates to become better managers with a clear understanding of the decision-making process. Behavioural operations apply behavioural economics knowledge to manage business operations. Behavioural economics is the field of study in which economics and psychology are combined to study the information processed by people in roles such as managers, employees, consumers, etc., and decision outcomes. BOM aids in solving the operational bottlenecks by keeping them as low as possible. The main goal of BOM is to understand the deviation of people’s decisions from the optimal choices and the consequences of such deviations in business management and markets. BOM also influences supply chain management (SCM) as these subfields go hand in hand. Inventory management As the current assets for most manufacturing entities include inventory, it is important that businesses implement effective inventory management techniques. Inventory management is a vital part of SCM, which is responsible for the smooth functioning of logistics and the supply chain. Many small and medium businesses fail to promptly implement inventory management techniques, which leads to mishaps like inventory shortages, spoilages, and overstock. Various online inventory management softwares aim to assist businesses in the best possible ways. Inventory management controls inventory stock levels to minimise the relevant costs like ordering and carrying costs. The advantages of this management technique include minimal costs, smooth cash flow, improved profitability, and longevity. This helps the businesses to track the inventory stock levels and movement. The main types of inventories include raw material, work-in-progress (WIP), finished goods and loose tools or MRO (maintenance, repair and operations). Some of the famous and most implemented inventory management techniques include Just-In-Time ABC Analysis Economic Order Quantity (EOQ) Minimum Order Quantity (MOQ) Reorder Quantity Safety Stock FIFO And LIFO Perpetual Inventory Management Consignment Dropshipping Six Sigma Lean Manufacturing Cross-Docking Demand Forecasting Batch Tracking The main reason behind the increased importance of inventory management is to enhance overall business performance, customer satisfaction and profitability. The optimal inventory management technique differs for each business so businesses need to implement effective inventory management techniques to minimise errors and improve seamless logistics. Quality management Directed toward the achievement of common goals, quality management or total quality management (TQM) is the business management strategy that is customer-oriented. It is a process of supervising and overseeing the business activities to be fulfilled to maintain the desired quality. It requires the management’s commitment and all potential shareholders to work as a team to improve the products, processes, services, values and culture of the company as a whole. There are four main components in TQM: quality planning, quality control, quality assurance, and quality improvement. With a better TQM, the businesses will be able to provide best-in-class products and services that can satisfy customer needs, resulting in improved customer satisfaction. The above four stages are executed simultaneously to deliver the company excellence and trust to the customers. Assemble-to-order strategy Similar to the make-to-order strategy, assemble-to-order is a business manufacturing strategy in which sub-assembled parts or components are brought together and assembled to arrive at a final product delivered to the customer. In the make-to-order strategy, the final product is made from scratch, not from sub-assemblies. The customer can order fully customisable products in a make-to-order strategy, and the product is made according to the customer’s specific requirements. However, the assemble-to-order strategy also includes customisation of the product according to customer needs, but less when compared to the make-to-order strategy. This strategy is implemented by companies that can assemble and deliver products in a minimal or quick time. The business entities use demand forecasting techniques, such as data analytics, market conditions, economic trends, past historical data, etc., to make the sub-assemblies and a final product. It can be observed that the assemble-to-order strategy is much faster than the make-to-order strategy. With this strategy, businesses can reduce the inventory holding or storing costs and warehouse space. The vital benefits of this strategy include reduced TAT, faster delivery, low business costs, etc. Six sigma The six sigma process considers the data analysis and statistics to interpret and prevent product errors. It reduces the defects to a minimum acceptable level while at the same time improving cycle times. Six sigma shows its true results when implemented properly. The data-driven management tools and techniques increase business efficiency while decreasing product defects. The key principles of six sigma include customer focus, discovering the underlying root problems, fully eliminating the bottlenecks and related junk, implementing the structured business processes, and a responsive ecosystem involving seamless adoption of business changes. Six sigma aids in achieving a better CRM with the help of the DMAIC methodology. With this DMAIC or DMADV data-driven method, the company improves existing products and services by re-designing various product manufacturing processes or service delivery. The business transformation starts with the DMAIC method, an acronym for the five transformation phases: D – Define, M – Measure, A – Analyse, I – Improve, and C – Control. The popular six sigma techniques include the Kaizen principles, benchmarking, poka-yoke (mistake proofing), and value stream mapping, among others. Business process reengineering (BPR) BPR is the multi-dimensional approach to improving business performance by eliminating the redundant or unwanted steps in the business processes that are of no use and do not add any value to the customer. It is a continuous improvement process that enables businesses to reduce TAT and cycle times. In simple words, BPR is deconstructing business processes entirely and radically redesigning them. BPR can be considered an unusual business improvement strategy that redesigns the critical business processes, which involves verifying and rethinking the basic process. Here the workflows both within and between the organisation are analysed thoroughly by considering minute details like why work is done, where and when it is done and who does it. It also involves redesigning processes between external parties like service providers, distributors, creditors, suppliers, etc. It is a 5-step redesigning process which includes:: Determining the required objectives that provide focus, direction, and motivation for redesigning. Identifying customers and their needs to provide great value addition to them. Comprehending the existing business processes for clearly redesigning the new ones. Designing and formulating the business re-engineering process plan. Implementing and reviewing the redesigned process. The main crux of the above-mentioned BPR steps is the designing and formulating BPR plan. With the sudden outbreak of unprecedented situations and emerging technologies, it is important that businesses consider BPR to adapt to the fast-changing market conditions for thriving and surviving in the cutthroat business competition. Agile Manufacturing Agile manufacturing is the production method that focuses on providing a rapid response rate to customers as a business core competency. With this key competitive advantage, business establishments improve efficiency and decrease costs while being able to react to the fast-changing market conditions. Any company with this core competency is sure to fulfil the ever-changing customer demands and take every possible opportunity. The key agile manufacturing elements include modular product design, IT, corporate collaborations, and knowledge culture. The popular lean manufacturing methodology also relates to the agile method. While the lean method minimises wastage with the same high quality and productivity, the agile method primarily focuses on satisfying customer demand in the minimum TAT possible. Explore the various opportunities in Operations Management – a booming sector The ever-changing customer needs, fast-changing market conditions and technologies have increased the demand for MBA Operations Management graduates in various sectors. Various companies, irrespective of their industry, size and location, realise the importance of efficient Operations Management in this competitive business world. The aspirants should possess the in-depth knowledge and skill set to land high positions in the top companies. Most companies need Operations Management professionals indicating the rising demand for the MBA Operations Management specialisation. MBA Operations Management graduates and professionals are welcomed to a variety of diverse sectors such as: E-Commerce Manufacturing and Retail Hospitality Information Technology Consulting Firms Construction Pharmaceutical Warehousing MBA Operations Management is getting the recognition it deserves in recent years with the considerable mayhem that happened due to the lack of adequate planning and management. A career in MBA Operations Management gives you the key to entering diverse industries and job roles. An MBA Operations Management graduate is provided with various job roles such as: Operations Manager Plant Manager Area Operations Manager General Operations Manager Manufacturing Consulting Manager Process Reengineering Manager Supply Chain Manager Logistics Manager Consultant Business Analyst Chief Operating Officer Production Supervisor Quality Manager These are some of the job roles you can get across diverse industries. The career for MBA operations management graduates looks positive and is an excellent option for the candidates with exceptional planning and organisational skills. Get ready to enter the globally booming sector of Operations Management as jobs in this industry are expected to increase by 9.4% by 2030, according to a report by U.S. News. The top careers in MBA Operations Management include – business operations management, materials management, operations research, and purchasing management. According to PayScale, the average MBA Operations Management salary comes to around INR 9.4 lakhs and it varies with experience. You can land a top position in popular companies like Amazon, IBM, GE, Ford, JP Morgan Chase, The Boeing Company, Tech Mahindra, Wipro, Caterpillar, Blue Dart, DTDC, Maruti Suzuki, and more. Get to know the qualifications and skills you need to become a Operations Manager How does an MBA in Operations Management make you future-ready? An MBA in Operations Management allows you to enter your desired job role in a particular sector. The MBA in Operations Management is all you need to advance your career and secure a handsome salary package, drastically improving your earning potential. Following the completion of the Operations Management course, you will acquire knowledge and skills required for the most sought-after job titles. You can improve your strategic thinking and decision-making process, transforming you into becoming the best manager or analyst in this space. The theoretical knowledge combined with the skill set increases your job opportunities. The MBA in Operations Management imparts the crucial skills required, such as strategic planning, ability to develop new and innovative products, problem-solving and communication skills, organisational skills, analysis of potential risks, etc. However, you can enhance and sharpen your skills over time and according to experience. Climb up the corporate ladder with an MBA from Online Manipal An MBA in operations management prepares you to get into management and other leadership roles in the domain. Whether you’re a student looking to pursue post graduation in operations management or a mid-career professional looking to climb up the corporate ladder, an online MBA will surely help your cause. Online Manipal offers a variety of specialisations in MBA including operations management. Once you enrol for a degree programme from Online Manipal, you get access to the extensive e-learning content including Coursera courses, webinars from industry experts, certification programmes, live and recorded classes, and more. Manipal University Jaipur’s enhanced digital platform offers a comprehensive and immersive learning experience for learners. Online courses allow you to study on the go at your desired speed from anywhere and anytime. Now get an MBA in Operations Management or any other specialisation and achieve new heights in your career.. Get your course completion certificate from the renowned Manipal University Jaipur and increase your chances of being shortlisted by some of the popular companies. Conclusion Take the leap and pursue the desired course to kick-start your career. Grab high-paying job opportunities at the right time by pursuing the most in-demand online courses at MUJ. The MBA in Operations Management is the right course for candidates interested in managing, planning and reviewing business processes and manufacturing innovative products at minimal costs. Besides operations management, you can also explore a variety of courses in various topics like Management, Commerce, IT, Supply Chain, Data Science, Business Analytics, and more at Online Manipal, your one-stop online learning platform.
How does an MBA in healthcare management help doctors? Healthcare is a highly competitive industry, and the need for skilled managers has never been higher. An MBA in Healthcare Management gives you the skills you need to succeed in this competitive field. You’ll learn how to identify and manage healthcare organizations’ most pressing challenges, including cost containment, quality improvement, public policy concerns, and more. You’ll learn how healthcare organizations work together to improve their patient care and lower costs while maintaining high levels of quality. You’ll also understand how to apply business concepts such as human resource management, marketing, and finance to healthcare settings. Read more: Importance of MBA in healthcare management What will you learn in an MBA in healthcare management? We’ve compiled a list of several things you should expect from your coursework. Healthcare operations management Hospital planning & infrastructure management Health education & communication Quality management in healthcare Health education & communication Health informatics Health insurance Why an MBA in healthcare management? An MBA in healthcare management can help you in the following ways: It sets you apart from other businesses Connects business and healthcare Learn soft skills alongside technical skills You don’t have to stop working during your period You can break into the healthcare sector by changing careers Want to know more about the MBA healthcare management course? Check out our guide on MBA in healthcare management. What will doctors get from an MBA in healthcare management? Doctors have a lot of responsibility and can benefit significantly from an MBA in healthcare management. The most obvious benefit is that doctors will learn how to run a business. This is important because—as the industry is shifting toward more preventative care—doctors will be responsible for keeping their businesses afloat through various means. They’ll need to find new ways to generate revenue, keep costs down, and manage employees effectively and efficiently. Doctors will also learn how to make better decisions. In addition to learning about finance and accounting, they’ll study leadership skills to make better choices that will benefit their practice or clinic in the long run. Furthermore, the doctor can learn the following skills too: Analyze health care accreditation, regulatory, licensure, and compliance issues. Examining business, leadership, and applied research literature carefully. Taking on business research that is independent, ethical, and rigorous. Analyzing the latest trends, business strategies, and leadership methods Designing and implementing innovative business solutions Applying business principles to real-world situations Want to know who should pursue a MBA in healthcare management? Check out our blog on MBA in healthcare management skills for further information. Prospects after MBA in healthcare management The prospects after MBA in healthcare management are genuinely endless. This is a high-demand field, and with so many options available, you’re sure to find a career that fits your skills and interests perfectly. Here are some of the jobs after an MBA in healthcare management: Pharmaceutical Project Manager A pharmaceutical project manager oversees the execution of drug studies and trials. They are responsible for managing budgets, timelines, and personnel to ensure that investigations are executed on time and within budget. The position requires a strong understanding of medical research, clinical trials, and project management experience. Health Administrator A health administrator oversees healthcare facilities and programs, including hospitals, clinics, and other medical facilities. They manage budgets, staff, patient records, and equipment use, among other things, to ensure that the facility runs smoothly and efficiently. They may also be responsible for creating new programs or policies at their organization’s discretion. Clinical Research Manager A clinical research manager works with pharmaceutical companies to conduct clinical trials on new drugs or medical devices before they’re released onto the market. They work closely with doctors, nurses, and other health professionals to determine which patients need to participate in these trials based on their medical histories or current conditions. They make sure those patients receive proper treatment while they experience their study – whether they’re taking place at home or in a hospital setting. Social Media Directors Social media directors are responsible for creating and maintaining a company’s social media presence. They plan and schedule posts, create content, and monitor activity. They also develop and implement strategies to grow the business’ audience on social media platforms through different marketing tactics. Nursing Home Administrators Nursing home administrators oversee the day-to-day operations of a nursing home facility, including hiring and supervising staff members and managing admissions, discharge procedures, finances, patient care services, and more. Clinical Manager Clinical managers are responsible for overseeing patient care services in an organization such as a hospital or clinic. They ensure that patients receive timely treatment in compliance with regulations set forth by state boards of nursing or other governing bodies. Want more detailed information on the career prospects after MBA? Check out our blog on career prospects after MBA in healthcare management to know more! Where can I earn an MBA in healthcare management from? If you’re interested in earning an MBA in healthcare management online, visit the Online Manipal website today. The online MBA in healthcare management program is designed for working professionals who balance their busy schedules with schoolwork. With flexible class times and various study methods, it’s the perfect option for active individuals looking for a career change or advancement in their current field. The curriculum includes courses on finance, economics, marketing, operations management, human resource management, and more—all relevant to advanced degrees in healthcare management. The program takes about two years to complete, but you can also take individual classes if time permits. In addition to traditional classroom learning options, virtual classrooms are available so students can connect with classmates and instructors virtually. Want to know which MBA is best for working professionals? Check out our blog on MBA for professionals for further information. Key takeaways: Healthcare is constantly changing, and medicine will never be the same. With a Master of Business Administration degree in healthcare management, you’ll be able to stay on top of trends and innovations in the industry. A Master of Business Administration degree can help you understand how to use your medical knowledge to make decisions that benefit you and your patients. An MBA can help you develop valuable business skills in any field—not just medicine. This could mean having more opportunities for advancement within your current organization or expanding your career options later on down the road. An MBA will give you an advantage when it comes time for promotion or MBA in hospital management job opportunities because it shows that you’re serious about continuing education and training at work—something employers look for in potential employees.
Passion & academics: My online education journey Greetings, fellow online learners and passion pursuers! This is Bhargav, an online BCA student at Manipal University Jaipur (MUJ). I would like to take you on a journey through my life as someone who’s passionately devoted to the gymnasium while pursuing a bachelor’s in computer applications (BCA) online. This path has been incredibly challenging, but it’s a story I’m eager to share. The story of how I found my passion amidst the hurdles of limited funds and the rigors of studying coding, AI, and ML, day and night. Discovering my passion – Gymnasium Gymnasium isn’t just a place to work out; it’s my sanctuary. The weights, the machines, the daily grind – they’re all part of a passion that keeps me motivated and driven. But, like many of you, I also faced challenges that came with pursuing this passion while earning my BCA degree online. Hardships faced Lack of funds for proper diet: One of the most significant challenges was maintaining the right diet to fuel my workouts. Quality nutrition is a cornerstone of gym progress, but it isn’t always affordable. I had to get creative with my meal plans, finding cost-effective ways to meet my dietary needs. The demanding BCA curriculum: BCA is no walk in the park. Coding, artificial intelligence (AI), and machine learning (ML) are demanding subjects that require hours of dedication. Juggling these academic responsibilities with my passion for the gym has been a test of my time management skills and determination. Overcoming the challenges Despite the obstacles, I’ve managed to find a balance between my passion for the gym and my online degree in BCA. Here’s how I did it: Effective budgeting: To cope with the limited funds, I learned to budget effectively. I researched affordable sources of nutritious foods, bought in bulk, and cooked my meals whenever possible. It was a financial struggle, but it was worth it to fuel my gym sessions effectively. Time management: Balancing intense coding sessions, AI, and ML studies with my gym routine required meticulous time management. I created a study schedule that accommodated both worlds, ensuring I could give my best to each. Perseverance: Above all, it was my determination and belief in my goals that kept me going. There were moments when I felt overwhelmed, but I reminded myself of the rewards that lie ahead. It’s not only academic success but also a stronger and healthier me. Conclusion My journey as an online learner pursuing a BCA degree while passionately pursuing the gym has been a rollercoaster of challenges and triumphs. It’s a path that’s tested my commitment and resourcefulness, but it’s also one that’s enriched my life immeasurably. The flexibility of online learning, top-class mentorship & career guidance from the faculty, free e-learning study materials that can be accessed from anywhere and anytime, virtual labs for gaining practical knowledge, all have given me the flexibility to pursue both my passion and my degree.
Guerrilla Marketing: Thinking outside the box The other night, when I was travelling back home, a catchy billboard caught my attention. A plain black billboard with some captions – glowing in the darkness and a red car. It was literally a car that was about to jump off that billboard. That sight compelled me to read the caption on the billboard. By now, after visualizing this billboard, you must want to have a look of the same. So, here you go. This is the one I was talking about till now. Source After having a look don’t you think, how cool is that! This kind of thing would definitely grasp anybody’s attention. Throughout my journey, I was wondering how easily this brand captured attention of so many. Moving forward, whenever I or anyone in my circle would like to buy a car, this name would strike me immediately. Being an academician, it runs in my system to dig deeper. What marketing is it? Curiosity drove me to this question and here are the answers that I managed to find. What is Guerilla Marketing? In the 21st century, the major problems faced by today’s businesses and marketers is the shortening of attention span of your target audience. Also, there are more than 500 brands coming up on their feeds daily. Then how would you mark your presence and conquer that “SPECIAL” place in their minds. The answer to this is Guerilla marketing. Now, what is so different about this type of marketing? The regular marketing practices like radio and television commercials, billboards and direct mail campaigns never tried anything out of the box. On the contrary, Guerilla marketing can also be better understood as Attention marketing, as it grabs the customers’ attention instantly. This style of marketing is about going out of the regular path. In simple terms, it’s a marketing strategy that requires less investment but makes a huge impact. What are the benefits of Guerilla marketing? Source Creative thinking: It gives you the opportunity to be creative and think out of the box. You need not spend a fortune for advertising your products with this type of marketing. Square Yards – a name in the field of real estate has gained overnight popularity by using some catchy phrases, and sometimes that’s all you need. Creating a BUZZ – Whether a small upcoming home-grown business or a big company operating at a GRAND level, all of them want to be the Talk of the town. “Folks! think of something that could go viral,” these must be the words of all the top marketing officials of various companies. So, creating a so-called Buzz is attained through this type of marketing only. Here are some real-world examples of Guerilla marketing Construction business: Source I bet, these kinds of catchy lines, would definitely make the heads spin. Don’t you second this. We are not done yet with the positive sides of this marketing form. Let’s walk down the lane further. Food delivery business Source Like Zomato – a food delivery company’s tweet, where they stated, “Sometimes you must eat home cooked meals,” created a BIG buzz, and it was everywhere. You must be wondering why they said something that impact their own field of business, but this is all worth when you get more customers. Not to forget the chain of other big names who followed the same trend. Source YouTube India, Amazon Prime and others also joined the campaign, which in turn along with them benefitted Zomato too. Source What can we learn from Guerilla marketing? To all the learners, who wants to take a dive into or make a career in marketing, this type of marketing is crucial for you to understand. This is because, in the contemporary times, a advertisement or the marketing strategy must carry the “CONTAGIOUS EFFECT.” Something worth sharing, worth laughing, and worthy to talk about. Imagine your colleague told you about a funny advertisement during your TEA break. Again, I would bet anything on it that you cannot forget about something which you have shared a laugh with your friend. On the contrary, you can easily forget about the pamphlet which was there inside your morning newspaper. In a nutshell, it is really easy and tough at the same time to mark a deeper impact on your audience with Guerilla marketing. To learn more about such interesting and insightful marketing techniques, enroll for an MBA in marketing on Online Manipal, where you will not only study the academics but also gain valuable practical knowledge as well. Disclaimer: This blog contains only the perspective of the author and is a complete unsponsored post and the sole purpose of this blog is to impart knowledge and not to publicize any mentioned brands.
Case study-lead learning in the age of online education Over the last few years, the education system has undergone significant changes with various methods for learning and teaching coming into existence. These include problem-based learning, self-paced learning, learning through content, learning through tutorials, learning through 4 quadrants, and learning through cases. A 4-quadrant approach sounds best as it offers many advantages to the tutors and learners. When a 4-quadrant approach is backed by the case study method, it will be a more effective content delivery for learners. They may also feel more confident as it helps them deal with practicality of the different concepts in their respective courses. In this article, let’s explore the various benefits one can have through this engaging mode of teaching and learning, the Case Study Method. What is a case study? Case studies are in-depth investigations of a specific subject, such as a person, organisation, event, or phenomena. The objective of a case study is to help steer the research process and influence the study’s focus and scope. Also read: Top online courses to upskill yourself Advantages of case study-based learning Case study-based learning can fulfil below objectives: Better understanding of complex scenarios: Case studies often aim to explore complex situations, behaviors, or interactions by individuals, groups, and position holders in a specific point of condition. The objective is to gain a deep understanding of the various factors at play and how they relate to each other. Problem identification and diagnosis: Case studies can be used to identify problems, challenges, or issues within a specific context. The goal might be to diagnose the root causes of these problems and suggest potential solutions. This study utilizes a dummy practice model that makes future managers ready to deal with any problem they encounter at workplace. Solution testing and evaluation: In some cases, the objective is to test the effectiveness of a particular solution or strategy within a real-world context. This can involve assessing the outcomes and impacts of the solution. Exploration of best practices: Along with educational institutions, other organizations also conduct case studies to identify and analyse best practices within their industry or field. The objective is to learn from successful examples and apply those lessons to their own operations. Learning from failures: Case studies can be valuable in examining failures or mistakes in a specific situation, industry, etc. The objective might be to understand what went wrong, why it happened, and how similar situations can be avoided in the future. Decision-making insights: Case studies can provide insights into decision-making processes. The objective could be to understand how decisions were made, the information that influenced them, and their outcomes. Development and validation of theories: Researchers might conduct case studies to test, refine, or build theoretical frameworks. The objective is to contribute to the development and validation of theories within a specific context that can benefit many people. Policy or strategy development: Organizations and governments might conduct case studies to inform the development of policies, strategies, or guidelines. The objective is to gather evidence and insights that can support informed decision-making. In-depth analysis: The objective of some case studies is to provide an in-depth analysis of a particular subject, offering a comprehensive understanding of its various aspects. Exploration of unique situations: Case studies can be used to explore unusual, unique, or rare situations and offer insights that are not easily accessible through other research methods. Validation of hypotheses: Case studies can be used by researchers and experts to support or test hypotheses. The goal is to offer empirical evidence that supports or test a certain theory that will give a wider picture of the specific situation. Longitudinal studies: Some case studies are conducted over an extended period to observe changes and developments. The objective might be to track trends, progress, shift in policy or strategy, pre and post reviews, or outcomes. Check out: How can an online MBA help your career Conclusion It is critical to develop clear and explicit case study objectives early in the research process, as they will guide the selection of relevant material, data gathering methods, and the overall framework of the study. The objectives of the case study report should match the expected outcomes and the target audience. This type of study helps a researcher or a learner to improve their knowledge and critical thinking. Institutions that have their academic delivery with the help of case study method can create a significance difference as it helps in the development of critical thinking among the learners. Manipal University Jaipur offers UGC-entitled online MBA programs that have excellent curriculum and comes with expert mentorship. Along with the academics, students get to work on real world case studies which help them gain skills like critical thinking, strategic planning, problem-solving, etc., all of which are important in establishing a successful career.
World Student’s Day: How Online Manipal is empowering future leaders The world knows that APJ Abdul Kalam was a strong advocate for education and an inspiration to students worldwide. He has, throughout his life, encouraged students to dream big, set goals and work towards achieving them. To honor him and his contribution to society as a whole, October 15 is celebrated as World Student’s Day. On this World Student’s Day, we celebrate the spirit of learning and the power of education. At Online Manipal, we take pride in being at the forefront of this educational revolution, empowering students worldwide, by giving access to UGC-entitled online degrees. Our faculty and mentors are the driving force behind this transformation. With a wealth of knowledge and experience, they craft engaging, interactive, and comprehensive lessons. This World Student’s Day, we take you through how our mentors are making a difference in the lives of online learners. Innovative learning, anywhere, anytime Online Manipal understands the changing landscape of education. Our cutting-edge technology and innovative pedagogy bring classrooms to your fingertips. With a diverse array of courses, students can explore their passions and hone their skills, breaking barriers of geography and accessibility. Bridging the gap between learners and education With the advent of online degrees, education is at everyone’s doorstep. From live classes and interactive webinars to personalized guidance, our esteemed faculty members ensure online degrees are engaging and enriching. Online Manipal is committed to driving a positive change in the lives of learners by allowing them to tailor their education as per their needs. Fostering a learning community Education isn’t just about textbooks and lectures; it is also about collaborations and building a community. Online Manipal provides a platform for students to connect, share ideas, and learn from one another. Our forums, discussion groups, and collaborative projects encourage meaningful interactions, turning learning into a holistic and engaging experience. Creating global opportunities for learner In today’s competitive business environment, industry networking has proven to be invaluable. Online Manipal brings together learners from multiple towns, cities and countries to network and connect. This creates a space for learners to exchange ideas with a diverse peer group from various industries, domains, geographies and experience levels. Join us to enhance your learning journey This World Student’s Day, embark on a journey of discovery, growth, and transformation with us. Happy World Student’s Day to all the bright minds out there – the leaders, innovators, and change-makers of tomorrow. Your journey begins here.
Best resources to master data science Data science requires proficiency in computer programming, subject-matter expertise, and a comprehension of mathematical and statistical concepts. Data scientists apply machine learning algorithms to data like numbers, text, photos, video, and audio to create AI systems that can carry out activities that would otherwise require human intellect. As a result, analysts and business users can derive real value from the information these systems produce. Businesses are increasingly recognizing the potential of data science, artificial intelligence, and machine learning. The ability to effectively build and apply data science capabilities is crucial for any business, regardless of industry or size, if it wants to maintain competitiveness in the era of big data. Selecting the most appropriate medium for studying data science principles is crucial, whether you refer to the best books on data science or take up a course. Starting a career in data science already has a high enough bar. Please only use those other platforms that cheat you by providing high-priced courses. We’ll provide a comprehensive overview of how to learn data science. Why should I learn data science? Various fields of business make use of data science. This provides you with a wealth of opportunities for professional development as a data scientist. Listed below are the top 5 justifications for pursuing data science education. In this industry, you can expect gratifying professional development opportunities. Data scientists are highly valuable to businesses and will continue to be in high demand. Career paths in data science include data engineer, data analyst, ML engineering, and more. The remuneration for a data scientist is very high. Due to the crucial tasks and responsibilities, data scientists typically receive high incomes, often exceeding market requirements. You won’t learn everything you require to know about running a business; that ability will only come with some work experience. That is the primary function of a data scientist. Just like that, you’ll have a running start. The ecosystem suffers from a severe lack of talent. Thus trustworthiness will always be rewarded. Although there is less competition, customer demand has remained the same. Companies constantly need help to fill these positions with qualified candidates due to scarcely available talent. Once you’re part of the group, you’ll have more say in important matters and less competition from others with your unique organizational skills. Best resources to hone data science skills Without further ado, here’s a rundown of the top places to get a free education in data science online. Accessible from your desk in 2022, these materials make it possible to study data science at no cost. Online courses Several platforms provide you with online courses for data science that you can enroll in. Here are some of the best platforms that have data science courses: edX There is a website called edx where prestigious institutions can create courses and professional certificates, upload them, and make them available to anyone on the globe. Coursera Learning data science on Coursera is what most people do. Over eighty seven million people have signed up for it. Andrew NG’s machine learning course has more than 5 million registered users. Data Camp Another collaborative learning environment for data science. If you are just getting started, these generative mediums are excellent resources. Codecademy’s ability to help you improve a certain skill is a big plus. It’s useful for keeping tabs on the data-related abilities necessary down the road. These gamified environments are great for newbies. These may be too advanced for those with some programming knowledge. Udemy Hundreds of thousands of courses in fields as diverse as programming, business, web development, marketing, and more are available on this well-known online platform. More than 40 million individuals are learning new skills and discovering their hidden talents. Udemy is a fantastic online resource for those proficient in programming and who want to learn more about the machine learning and deep learning used in data science. You will not only have the opportunity to learn from seasoned professionals but also do so at a very reasonable cost. Udacity Udacity is a well-known private university offering a data science platform to help working adults advance their careers. One of the finest places to learn data science, and you can do it for free or for a small fee, is on the internet. Courses are developed in collaboration with top institutions throughout the world. Lynda Previously known as Lynda.com, LinkedIn Learning is now a comprehensive online learning platform where users may browse thousands of courses and video tutorials and keep track of their progress. Students require accounts to keep tabs on their studies, compile playlists of possible assignments, and organize their notes. Online Manipal Online Manipal is an educational platform, where students can access undergraduate, postgraduate and certification programs. Through our integrated learning management system (LMS), learners can interact with peers & faculty and attend virtually classes. Through Online Manipal, you can enroll for a specially designed MSc in data science program offered by Manipal Academy of Higher Education, that will help you establish a lucrative career in this domain. YouTube Many free online data science courses are available on YouTube to help you get started in data science, including data science tutorials for beginners and instructive films covering the fundamentals of the math and programming languages used in the field. Searching would bring up many different video guides, presentations, and courses. Khan Academy Khan Academy would be a great start if you want to learn about the mathematical principles underlying data science. When starting in data science, don’t worry if you don’t have a firm grasp of mathematical principles. However, mastery of mathematical principles is essential for a career in data science. The need to be good at math is a recurring theme of why people shy away from data science. We assure you that only basic algebra and geometry from high school will suffice. Kaggle Over a few years, it has ballooned to an impressive size. It illuminated a path toward making data science accessible to everyone. As a result, even the most novice learners may quickly gain access to the knowledge of excellent data scientists worldwide. The platform’s strong gamification motivates users to contribute and gain knowledge. Data scientists can gain valuable experience through Kaggle. Gaining experience in the real world is an important step in the job application process. Medium In recent years, Medium has become one of the most popular places to get knowledge in fields like data science and networking. Creating a Medium account is the first step in using this site for independent study in data science. You can log in for a free account or become a paid member. Data science, machine learning, data visualization, programming, AI, and so on are just a few topics that see new daily articles published on the medium. Through a straightforward web search, you can find a wealth of papers and tutorials covering everything from first principles to cutting-edge applications in data science. LinkedIn Groups To expand one’s professional network, LinkedIn is a great tool. LinkedIn is home to several data science-related communities and groups, including Towards AI, DataScienceHub, and Towards data science. KDnuggets Tutorials on data science methods and techniques, as well as introductions to visualization tools, are available. The editors of KDnuggets have also compiled two tutorials on the site to help you prepare for a Data Scientist interview. GitHub Several data sciences and machine learning-related educational resources may be found on the GitHub platform. GitHub isn’t just great for learning data science; it’s also a great place to keep track of work and showcase your portfolio. Reddit You can discover groups devoted to just about anything on Reddit, making it one of the most visited websites online. However, Reddit might look like a chaotic jumble of symbols, inside jokes, and bizarre posts for those unfamiliar with the site. Reddit couldn’t function without the hard work of the data science team. The team aims to define and capitalize on growth opportunities by providing revolutionary and insightful data across all product and business pillars. HackerRank HackerRank is a fantastic resource for assessing one’s level of expertise in many fields. Users will incur no costs whatsoever. Their revenue comes from businesses’ use of their platform for hiring decisions. It features various coding competitions, credentials, and employment opportunities. It’s a great environment for programmers to work in. On the HackerRank platform, there are various fascinating challenges to tackle using Python, R, and SQL. HackerRank is an excellent choice to gauge and enhance your coding abilities. Why do you need a degree in the data science field? Data science is a challenging field that requires technical, analytical, and ethical reasoning skills. Those who can transform information into useful knowledge will benefit from obtaining a degree or a course, both professionally and personally. Despite their often unseen efforts, data scientists play a crucial role in policymaking. Obtaining a bachelor’s degree in an area related to data science, statistics, or computer science is an excellent way to get started in the profession. It is one of the employers’ most prevalent factors when employing data scientists. Conclusion Enrolling for the best data science courses online will help you build a solid profile and grab the attention of potential employers. It will reflect your problem-solving and teamwork abilities necessary to succeed as a data scientist and increase your chances of getting hired. And if you need clarification on which course to choose, then go no further than Online Manipal. MAHE’s MSc in Data Science available on Online Manipal will hone your skills and provide all the real-work insights you need to excel in this career path.
Unlocking success: Online MBA at MAHE through the eyes of learners Embarking on the journey of education is akin to laying the foundation for a prosperous future. In the digital age, the landscape of learning has expanded beyond the traditional confines of brick-and-mortar institutions. MAHE, a pioneer in education, has seamlessly embraced this transformation, offering an Online MBA in Healthcare Management that has garnered praise from learners across diverse professional backgrounds. Debabrata Das: A Doctor’s Perspective Debabrata Das, a seasoned professional in the healthcare sector, emphasizes the impeccable quality of education offered by MAHE’s online platform. Speaking of the same he says “I heard about online MBA- (Healthcare Management) from a senior of mine (Debashish Das) who himself is a doctor and an alumnus of the Manipal group. Being a director of BP Buddha Hospital, I felt I should gather knowledge to lead. Faculty, quality of lectures, and the communication system are 5/5, allowing us to work and learn.” Ankita Pal: Navigating Career Transitions A dental professional aspiring for career diversification, Ankita Pal, highlights the transformative potential of MAHE’s online MBA and says “I’m a dental student and working as an assistant professor in the dental department. However, I’m looking to make a career switch since I’m looking for a high-paying job. I believe this MBA degree can add great value to my career as I can explore job opportunities in healthcare or corporate. Overall, my experience has been great. The online classes are very flexible, and the faculty members are supportive. The LMS is easy to use, and I can watch recorded lectures if I miss live classes.” Sagar Sharma: Balancing a Career and Studies While praising the curriculum’s clarity, Sagar another enthusiastic learner says “I work in Manipal Hospital, practicing for 15 years, and decided to move to the administration side. Used to do administration in small hospitals. Need degrees in corporate hospitals. I study for an hour every day and on Sundays. It is a great experience learning with online MBA. The cost is very affordable. The course curriculum is easily followable. It’s online, making it easy and comfortable for me to attend. The way to contact administration is a tedious process. It’s complicated and makes the whole thing difficult.” Advantages of studying online with MAHE The above statements collectively emphasize the numerous benefits associated with undertaking an Online MBA in Healthcare Management with MAHE. The program’s exceptional flexibility empowers professionals to effortlessly incorporate education into their current commitments, allowing for a harmonious balance between work and academic pursuits. The testimonials consistently highlight the program’s strength in accommodating diverse schedules. Our learners commend the supportive faculty, who play a pivotal role in enhancing the overall learning experience. The faculty’s commitment to student success is evident in their guidance and mentorship, contributing to a positive and collaborative academic atmosphere. Additionally, the intuitive Learning Management System (LMS) further enriches the educational journey, providing a user-friendly platform that enhances accessibility and engagement. The combination of flexible scheduling, supportive faculty, and an intuitive LMS not only facilitates educational pursuits but also acts as a catalyst for career growth and transitions within the dynamic field of healthcare management. Conclusion MAHE’s commitment to excellence in education is evident in the testimonials of these learners. The Online MBA in Healthcare Management emerges not only as a bridge to academic success but also as a catalyst for professional transformation. As learners navigate the digital realm of education, MAHE stands as a beacon, illuminating the path to success in the dynamic landscape of healthcare management and administration.
Career transitions made easy with MAHE’s MSc in Data Science In the fast-paced world of Information Technology, the quest for continuous learning and upskilling is paramount. Two individuals, Mayank from the tech giant Google and Harsini with a background in computer science, share their transformative experiences with MAHE’s Online MSc in Data Science. These testimonials offer a glimpse into the program’s efficacy in empowering professionals to navigate the complexities of the data-driven era. New learning with a decade of experience Mayank, boasting a decade of IT expertise at Google, recognized the imperative of staying ahead in the dynamic tech landscape. Seeking to enhance his proficiency in data science, he turned to MAHE’s Online MSc program. Speaking about his degree, he says “I have over 10 years of work experience in IT. Working with Google, I wanted to upskill myself and expand my knowledge in data science to meet the needs of my job and advance my career. MAHE’s online MSc in data science program has helped me improve my knowledge. The e-learning material is extensive and is helping me in my career progression.” His testimonial highlights the program’s role in not just improving his knowledge but acting as a catalyst for career progression. The extensive e-learning materials have proven invaluable, seamlessly integrating into his journey at Google. Transitioning to new domain Harsini, with a year of work experience in computer science, aspires to venture into the emerging field of data science. Elaborating about her learning journey, she says” The learning methodology at Online Manipal is very good and I’m able to understand concepts easily & quickly. With one year of work experience in computer science background, I want to explore a career in data science as it is an emerging domain. I believe I will expand my knowledge and upgrade my skills through this program.” Her testimonial emphasizes the effectiveness of MAHE’s learning methodology, praising its clarity and quick comprehension. Harsini sees the program as a gateway to expanding her knowledge and upgrading her skills in this dynamic domain. Why does MAHE’s MSc in Data Science Stands Out? MAHE’s Online MSc in Data Science emerges as a beacon for those seeking unparalleled excellence in their educational journey. The program distinguishes itself through an industry-driven curriculum, providing a holistic understanding of data science concepts. The learning methodology, as praised by Harsini, ensures a seamless grasp of intricate subjects, fostering an environment conducive to academic excellence. The program’s commitment to staying at the forefront of technological advancements is evident in its extensive e-learning materials, ensuring that professionals like Mayank can integrate their learning into their busy schedules. Moreover, MAHE’s emphasis on practical applicability ensures graduates are not just well-versed in theory but are equipped to tackle real-world challenges in data science. Conclusion: As illustrated by Mayank and Harsini’s testimonials, MAHE’s Online MSc in Data Science transcends traditional education. It’s a transformative journey that enhances knowledge, accelerates career growth, and prepares individuals to lead in the data-centric future.
10 popular regression algorithms in Machine Learning Machine Learning (ML) has a wide range of industrial applications that are likely to increase in the coming areas. The global Machine Learning market is expected to reach USD 117 billion by 2027 with an impressive CAGR (Compound Annual Growth Rate) of 39%. Freshers and tech enthusiasts should know about Machine Learning concepts to upskill and build a successful career in the ML industry. Regression algorithms in Machine Learning are an important concept with a lot of use cases. The future values are predicted with the help of regression algorithms in Machine Learning. The input data/historical data is used to predict a wide range of future values using regression. Label in ML is defined as the target variable (to be predicted) and regression helps in defining the relationship between label and data points. Regression is a type of supervised learning in ML that helps in mapping a predictive relationship between labels and data points. The top types of regression algorithms in ML are linear, polynomial, logistic, stepwise, etc. Read on to know more about the most popular regression algorithms. You might like: Machine learning methods – An overview List of regression algorithms in Machine Learning Linear Regression Ridge Regression Neural Network Regression Lasso Regression Decision Tree Regression Random Forest KNN Model Support Vector Machines (SVM) Gausian Regression Polynomial Regression 1) Linear Regression It is one of the most-used regression algorithms in Machine Learning. A significant variable from the data set is chosen to predict the output variables (future values). Linear regression algorithm is used if the labels are continuous, like the number of flights daily from an airport, etc. The representation of linear regression is y = b*x + c. In the above representation, ‘y’ is the independent variable, whereas ‘x’ is the dependent variable. When you plot the linear regression, then the slope of the line that provides us the output variables is termed ‘b’, and ‘c’ is its intercept. The linear regression algorithms assume that there is a linear relationship between the input and the output. If the dependent and independent variables are not plotted on the same line in linear regression, then there will be a loss in output. The loss in output in linear regression can be calculated as: Loss function: (Predicted output – actual output)2. 2) Ridge Regression Ridge Regression is another popularly used linear regression algorithm in Machine Learning. If only one independent variable is being used to predict the output, it will be termed as a linear regression ML algorithm. ML experts prefer Ridge regression as it minimizes the loss encountered in linear regression (discussed above). In place of OLS (Ordinary Least Squares), the output values are predicted by a ridge estimator in ridge regression. The above-discussed linear regression uses OLS to predict the output values. The complexity of the ML model can also be reduced via ridge regression. One should note that not all the coefficients are reduced in ridge regression, but it reduces the coefficients to a greater extent as compared to other models. The ridge regression is represented as: y = Xβ + ϵ, where ‘y’ is the N*1 vector defining the observations of the dependent data point/variable and ‘X’ is the matrix of regressors. ‘β’ is the N*1 vector consisting of regression coefficients and ‘ϵ’ is the vector (N*1) of errors. The ridge algorithm is also used for regression in Data Mining by IT experts besides ML. 3) Neural Network Regression You all must be aware of the power of neural networks in making predictions/assumptions. Each node in a neural network has a respective activation function that defines the output of the node based on a set of inputs. The last activation function can be manipulated to change a neural network into a regression model. One can use ‘Keras’ that is the appropriate python library for building neural networks in ML. The output of a neuron is mapped to a variety of values in neural network regression, thus ensuring non-linearity. You can choose a single parameter or a range of parameters for predicting output using neural network regression. The neurons (outputs of a neural network are well-connected with each other, along with a weight associated with each neuron. The well-connected neurons help in predicting future values along with mapping a relationship between dependent and independent variables. 4) Lasso Regression Lasso (Least Absolute Shrinkage and Selection Operator) regression is another widely used linear ML regression (one input variable). The sum of coefficient values is penalized in lasso regression to avoid prediction errors. The determination coefficients in lasso regression are reduced towards zero by using the technique ‘shrinkage’. The regression coefficients are reduced by lasso regression to make them fit perfectly with various datasets. Besides ML, the lasso algorithm is also used for regression in Data Mining. ML experts opt for the lasso regression algorithm when there is high multicollinearity in the given dataset. Multicollinearity in the dataset means independent variables are highly related to each other, and a small change in the data can cause a large change in the regression coefficients. Lasso algorithm regression can be used in predicting forecasting applications in ML. 5) Decision Tree Regression Non-linear regression in Machine Learning can be done with the help of decision tree regression. The main function of the decision tree regression algorithm is to split the dataset into smaller sets. The subsets of the dataset are created to plot the value of any data point that connects to the problem statement. The splitting of the data set by this algorithm results in a decision tree that has decision and leaf nodes. ML experts prefer this model in cases where there is not enough change in the data set. One should know that even a slight change in the data can cause a major change in the structure of the subsequent decision tree. One should also not prune the decision tree regressors too much as there will not be enough end nodes left to make the prediction. To have multiple end nodes (regression output values), one should not prune the decision tree regressors excessively. 6) Random Forest Random forest is also a widely-used algorithm for non-linear regression in Machine Learning. Unlike decision tree regression (single tree), a random forest uses multiple decision trees for predicting the output. Random data points are selected from the given dataset (say k data points are selected), and a decision tree is built with them via this algorithm. Several decision trees are then modeled that predict the value of any new data point. Since there are multiple decision trees, multiple output values will be predicted via a random forest algorithm. You have to find the average of all the predicted values for a new data point to compute the final output. The only drawback of using a random forest algorithm is that it requires more input in terms of training. This happens due to the large number of decision trees mapped under this algorithm, as it requires more computational power. 7) KNN Model KNN model is popularly used for non-linear regression in Machine Learning. KNN (K Nearest Neighbours) follows an easy implementation approach for non-linear regression in Machine Learning. KNN assumes that the new data point is similar to the existing data points. The new data point is compared to the existing categories and is placed under a relatable category. The average value of the k nearest neighbors is taken as the input in this algorithm. The neighbors in KNN models are given a particular weight that defines their contribution to the average value. A common practice of assigning weights to neighbors in a KNN model is 1/d, where d is the distance of the neighbor from the object whose value is to be predicted. In determining the value of a new data point via the KNN model, one should know that the nearest neighbors will contribute more than the distant neighbors. 8) Support Vector Machines (SVM) SVM can be placed under both linear and non-linear types of regression in ML. The use cases of SVM can range from image processing and segmentation, predicting stock market patterns, text categorization, etc. When you have to identify the output in a multidimensional space, the SVM algorithm is used. In a multidimensional space, the data points are not represented as a point in a 2D plot. The data points are represented as a vector in a multidimensional space. A max-margin hyperplane is created under this model that separates the classes and assigns a value to each class. Freshers should know that an SVM model does not perform to its fullest extent when the dataset has more noise. 9. Gaussian Regression Gaussian regression algorithms are commonly used in machine learning applications due to their representation flexibility and inherent uncertainty measures over predictions. A Gaussian process is built on fundamental concepts such as multivariate normal distribution, non-parametric models, kernels, joint and conditional probability. A Gaussian processes regression (GPR) model can predict using prior knowledge (kernels) and provide uncertainty measures for those predictions. It is a supervised learning method developed by computer science and statistics communities. Due to the nonparametric nature of Gaussian process regression, it is not constrained by any functional form. As a result, instead of calculating the probability distribution of a specific function’s parameters, GPR computes the probability distribution of all permissible functions that fit the data. 10. Polynomial Regression Polynomial Regression is a regression algorithm that models the relationship between an independent variable (x) and a dependent variable (y) as an nth degree polynomial. The equation for Polynomial Regression is as follows: y= b0 b1x1 b2x12 b2x13 …… bnx1n It is also known as the special scenario of Multiple Linear Regression in machine learning. Because to make it polynomial regression, some polynomial terms are added to the Multiple Linear Regression equation. It is a linear model that has been modified to improve accuracy. The dataset used for training in polynomial regression is non-linear. To fit the non-linear and complicated functions and datasets. The original features are changed into Polynomial features of the required degree (2,3,…,n) and then modelled using a linear model. Also read: Machine learning career path MAHE’s MSC Data Science: Why is it best for future proofing your career? Pursuing an MSc in Data Science at Manipal Academy of Higher Education (MAHE) can be a strategic choice for future-proofing your career for several compelling reasons: High Demand for Data Scientists: In today’s digital age, data is the lifeblood of businesses. Data scientists are high in demand across various industries, including finance, healthcare, e-commerce, and more. As organizations continue to amass vast amounts of data, the need for professionals who can extract valuable insights from it is expected to grow exponentially. Versatility: A degree in Data Science equips you with versatile skills that can be applied in a wide range of fields. Whether it’s analysing customer behaviour, optimizing supply chains, or improving healthcare outcomes, data science is applicable across diverse domains. Competitive Edge: MAHE as a part of the Manipal educational group is known for its academic excellence. Therefore, having an MSc from this institution adds prestige to your qualifications. Employers often value degrees from reputable universities, giving you a competitive edge over others in the job market. Cutting-Edge Curriculum: MAHE is likely to offer a curriculum that stays updated with the latest tools and techniques in data science. This ensures that you receive relevant, up-to-date knowledge and skills that are highly valued by employers. Networking Opportunities: Being part of a well-established educational institution like MAHE provides excellent networking opportunities. You can connect with peers, faculty, and industry professionals, which can be invaluable for your career growth. Hands-On Experience: A good data science program includes practical, hands-on experience. This enables you to apply your knowledge to real-world problems, making you job-ready upon graduation. Global Perspective: MAHE’s international exposure can provide a global perspective on data science. Given that data science is a global field, this perspective can be beneficial if you plan to work or collaborate on international projects. Job Security: As data continues to play a pivotal role in business and decision-making, data scientists are less susceptible to economic fluctuations. This degree can provide a level of job security and stability in an ever-changing job market. Conclusion These were some of the top algorithms used for regression analysis. Fresher or not, you should also be aware of all the types of regression analysis. You should also identify the number of variables you are going to use for making predictions in ML. If you have to use only one independent variable for prediction, then opt for a linear regression algorithm in ML. To learn in depth about Machine Learning, and other analytics related tools, you can always pursue the MSc in Data Science by MAHE. This completely online program is designed and delivered by the best minds of the data industry to help aspiring data enthusiasts realize their career dream.
