Statistical Modeling of Business Data and Business Data Science

Abstract

In this article, I overview the statistical analysis on human and social phenomena in super smart society by using large-scale data from the perspectives of business/marketing problems and discuss their statistical modeling for the future developments. Specifically, regarding statistical modeling in the business field in the modern society envisioned by Society 5.0, I first divide topics into three categories: (1) personalization, (2) high-dimensional sparsity, (3) networks and communities, and then I look back at our research and look ahead to these issues. Furthermore, by considering extensive advances in machine learning and AI technology, I discuss approaches to linking statistical modeling of human and social data to business decision-making.