Analytics is the use of modern data mining, pattern matching, data visualisation and predictive modelling tools to produce analyses and algorithms that help businesses make better decisions. According to a recent Wall Street Journal, companies, barraged with data from the Web and other sources, want employees who can both sift through the information and help solve business problems. As the use of analytics grows quickly, companies will need employees who understand the data. A May 2011 study from McKinsey & Co. found that by 2018, the U.S. will face a shortage of 1.5 million managers who can use data to shape business decisions.
ISB congratulates the inaugural class of ISB Biocon certificate program in Business Analytics.
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The certificate course is designed with inputs from practitioners from Industry.Our Industry Advisory Council members have provided inputs on various aspects of the programme including curriculum, data sets, projects to keep the course relevant to industry needs.Another important aspect of the programme is the "Capstone Project", which has a strong Industry - Academia collaboration. Industry council members also support in enriching the programme experience through speaker sessions in every term, which brings out the relevance of academic concepts, tools and technology.
Head - Trust and Horizontal Analytics at eBay Inc
Asit Kumar Barma
VP – Marketing, value labs
Clinical Associate Professor of Management Education Executive Director, Centre for Teaching, Learning, and Case Development
Prakash Durga Devarakonda-Global
Big Data & AnalyticsHyderabad Area, India Information Technology and Services
Exponential growth of data:
The recent years have seen explosive growth of digital data stored in computer databases. With continued innovation revolving around digital technologies, the Internet and mobile computing, the amount of data continues to grow exponentially. A Very Short history of Data Science
Shortage of skilled people:
At this rate, there will soon be a shortage of talented analysts who can help organisations work with this much big data. McKinsey Global Institute’s Big data: The next frontier for innovation, competition, and productivity estimates that by 2018, “the United States alone could face a shortage of 140,000 to 190,000 people with deep analytical skills as well as 1.5 million managers and analysts with the know-how to use the analysis of big data to make effective decisions.”
Sustainable competitive advantage:
Business Analytics also known as Business Intelligence (BI) has become strategically important for every organisation to keep competitive advantage by extracting meaningful information from the flood of digital data collected by businesses, government, and scientific agencies. The article from HBR tells us more about A Data Scientist's Real Job. A Data Scientist's Real Job:Storytelling
Critical business impact:
Some specific applications of Business Analytics, which allow for many novel avenues of opportunity for businesses to optimise and adapt their business model, are: critical product analysis; improved customer service; up-selling opportunities; simplified inventory management; and competitive price insights.
Return on Investment = [Value achieved through the solution] – [Cost of the solution]
As business analysts, one can impact both of these variables. One can increase the value achieved through the solution to the business problem and our activities actively reduce the cost to implement the solution.
As an individual it will help to move up the Data –Information – Knowledge – Insight value chain. This will enable to you to apply the techniques of BA to have a positive impact at your work and consequently succeed in your career aspirations.The article below from HBR puts some light on how data science promises to revolutionise industries from business to government, health care to academia. Data Science :The Number of Our Lives
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ISB-BioconCertificate Program in Business Analytics - Profile Book 2013 - 14