May 10, 2023
9:00 am - 5:00 pm
About the course
Most models can predict the probability of an event. These are useful, but to create a real impact you need to know when an event will take place. This is where Survival Modeling come in. Survival Modeling are valuable when you want to predict a customer event over time such as migration, calls, or sales. They can be used to generate triggers, indicating that you expect a customer to take a specific action, or to calculate customer lifetime value. In this hands-on training, you will work alongside our highly skilled trainers to design, pitch, and perform Survival Modeling in your business. This will include an introduction to Survival Modeling in business, the survival curve, multi-state models, and validation methods. Once completing this course, you will be proficient in building a customer-specific survival model and predicting the survival curve per customer.
Why this is for you
Most machine learning techniques predict the probability of an event happening, but not when it will occur. Survival modeling, however, predicts a trend over time so you are prepared to take action. In order to take control of your own destiny, you must stay ahead of the competition and better forecast the time until an event, turning uncertainty into a strength. Our training will show you exactly how to do this.
We designed this specifically for Data Scientists who are excited about making an impact in their business through time specific prediction. We recommend that you have completed our Machine Learning Process (3201) badge before this training.
What you’ll learn
- How to place Survival Modeling in a business context
- The background and application of Survival Modeling
- The techniques to build your own survival curve
- How to match the calculation step and the visualization step
- How to apply multiple validation methods to your prediction
- The skills to build a survival model and multistate survival model that is customer-specific
- Survival Modeling in business – Match application with the insight (survival curve)
- Theory of Survival Modeling – Explain the survival model framework
- Theory of multi-state models – Capable of explaining the difference between multi-state and single-state models
- Validation – Successfully apply multiple validation methods to your prediction
- Building a survival model – Know how to build a survival model and multistate survival model
Theory and practical use
All trainings in the GAIn portfolio combine high-quality standardized training material with theory sessions from experts and hands-on experience where you directly apply the material to real-life cases. Each training is developed by top of the field practitioners which means they are full of industry examples along with practical challenges and know-how, fueling the interactive discussions during training. We believe this multi-level approach creates the ideal learning environment for participants to thrive.