Artificial Intelligence and Machine Learning with R Applications in the Field of Business Analytics

In a VUCA world, which is becoming increasingly volatile, uncertain, and complex, companies, organizations, and states must respond promptly and adequately to the respective situations. Making decisions based on past experiences is less successful in these times than having an accurate understanding of current conditions. The importance of empirical sciences, continuous environmental observation, timely analysis of causal relationships, and deriving new insights from them is increasing. From this, it can be deduced which measures are likely to achieve one's goals with predictable probability, such as which price for an offer generates the desired demand or which marketing measure reaches the desired target group. Where classical statistics were once used for calculations and predictions, today free (open source) tools like R allow data in various formats and from any number of sources to be read in, processed, and analyzed using methods of Artificial Intelligence and Machine Learning. The results can then be perfectly visualized so that decision-makers can benefit quickly and effectively. The age of Data Science has arrived. Digitalization is more than a buzzword or a promise; it is actionable and usable for everyone. This book teaches you, based on the latest version of R at the time of publication, how to use Artificial Intelligence and Machine Learning in Industry 4.0.