Organizations stand to gain competitive advantage by using business analytics


In this present highly competitive and global environment, any professional and progressive organization that aims to survive, grow significantly in the marketplace and then sustain the growth must unshackle itself from ad hoc ways of looking at data. Instead, it should use analytic tools for converting data into information for effective decisions and strategy formulation. It is in this context, the role of business analytics and business intelligence looms large. The findings of Global study from MIT Sloan Management Review[1]  reveals that organizations gain competitive advantage by using business analytics. The study points out that 67 percent of companies surveyed are gaining a competitive advantage in the market place by using analytics which points to a 15 percent increase from last year and 80 percent increase from two years ago. In recent years, organizations have been turning in growing numbers to the use of business analytics as an important tool to meet the challenges of increasingly demanding customers and to other stakeholders as well as to cope with the emergence of a much stronger customer voice that is changing the basic relationship between buyers and sellers[2].

Business Analytics and Business Intelligence (BABI) embraces a variety of techniques that can be used by companies to make effective strategic decisions apart from significantly improving   performance in key dimensions. The art of modeling a business problem, then finding the solution using analytics, and finally implementing successfully the solution are the hallmarks of BABI.

Against the backdrop described above, Great Lakes Institute of Management is offering a one year Post Graduate Program in Business Analytics and Business Intelligence (BABI) for working executives (PGPBABI). This program blends conceptual framework of analytics with business relevance and paves the way for decision making in the midst of big data that bewilders business managers by its sheer size and complexity. The curriculum has the fine ingredients of Business Foundation, Statistical Methods for Decision Making, Predictive Modeling, Data Mining for Business Intelligence, Optimization Analytics, and Industry Perspective Analytics involving Marketing, Operations, Pricing, and Finance. This program is designed to provide a comprehensive knowledge of analytic techniques with an applied orientation for executives working in business analytics and professionals interested in a career in analytics. The Executives will visit the campus for 5 days every alternate month for class room learning and the remaining period will be attending online modules and doing Off Campus Assignments. The total hours envisaged for this program is 230 class hours and 150 online hours.

Image

Salient Features

  • The program will have both classroom and online learning methodology so as to enable the participants just to have short breaks from their work as well as to get the advantages of a continuous learning environment
  • Academic Elegance with Business Relevance Curriculum will facilitate the participants to learn conceptual framework of analytics and weave them with applications for decision support
  • Experienced faculty members from Great Lakes Institute of Management and industry practitioners from leading analytics organizations will jointly deliver the course

Hand on Exposure to Software includes as SAS, SPSS, XL Miner, and Solver that will make the participants adept in using analytics for decision support.
The Post Graduate Program in Business Analytics (PGP-BA) equips students with the relevant knowledge and skills to pursue managerial careers with best of analytics companies or move to analytics roles within their organisations.

To know more about the program visit – http://pgpba.greatlakes.edu.in/

Dr. P. K. Viswanathan
Co-Director – PGPBABI &
Professor, Operations

[1] From Value to Vision: Reimagining the Possible with Data Analytics-MIT Sloan Management Review, March 2013
[2] THE CASE FOR BUSINESS ANALYTICS IN MIDSIZE FIRMS | IBM © 2013

This entry was posted in Uncategorized and tagged , , , , , , , , , , , , , . Bookmark the permalink.

One Response to Organizations stand to gain competitive advantage by using business analytics

  1. Nishant Jain says:

    The energy sector has many interesting problems the solution of which lies in Business Analytics principles. For example – Brazil electricity price forecasting is challenging because of high volatility and difficult to predict factors like rainfall, hydro levels etc. I feel that Great Lakes can leverage the knowledge of energy management course at Gurgaon campus and couple it with analytics know-how to crack these real-life problems and become a leader in this space.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s