The Art & Science of Business Analytics
Description: Use of analytics is rapidly transforming managerial decision making and firms are starting to leverage analytics in the various functional areas of business to improve data-driven decision making. However, many firms are still unable to use data and analytics as a bridge between strategic themes and operations. While performance management systems are prevalent, their focus is primarily historical and they require the integration of a wide variety of data to track measures that may not be strategically relevant. Moreover, getting organizations to adopt emerging Big Data technologies to generate forward-looking analytics requires new technical and analytic skills that many organizations have not traditionally possessed. The aim of this mini-course is to understand what it takes for companies to successfully leverage data and analytics to become more customer-centric while driving improved business results while also providing opportunities for hands-on learning.
Learning Outcomes: • Introduce a framework for understanding what it takes for companies to successfully leverage data and analytics for competitive advantage • Understand how to develop strategies for building out strategic data and analytics capabilities • Provide an overview of the key analytics techniques – from both a mathematical and data/technology perspective • Explore various analytic techniques and how they can be applied across the value chain of a company’s business operations • Introduce Big Data concepts and outline how Big Data is transforming how companies are approaching analytics • Outline a reference architecture for enterprise data management that spans both traditional data warehousing and Big Data techniques Case studies will supplement the discussion of these topics.
Prerequisites: 95-703 and 95-796