Business Analytics and Emerging Trends - studieboek - Algorithms
6 important questions on Business Analytics and Emerging Trends - studieboek - Algorithms
What are the components of a petri net model?
- Place
- Transition
- Token
- Choice, merge
- Parallel split, join
- Transition can only fire when all places have tokens
What is the function of a process discovery algorithm?
What are the four quality criteria of an algorithm/model
- Fitness
- Precision
- Generalization
- Simplicity
- Higher grades + faster learning
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What is an alpha algorithm?
What is the mining of a logistics process in the ASML Case?
- Scope and goal of analysis
- Data extraction, preparation and transformation
- Interpreting results
What are important lessons learned from the ASML case?
- Start small
- Don't underestimate time needed to prepare data
- Analyze with a goal/research question in mind
- Some variance in process execution is normal
- Validate results with business experts
- Be critical
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