T MKTG 490
Prerequisite: minimum grade of 1.7 in T BUS 320.
In today’s very complex business world, many organizations noticed that the data they own and how they use it can make them different than others to innovate and compete better, and stay in business. This course explores business intelligence & analytics from multiple perspectives. First, it starts with foundations for data and information needs of managers, and evidence-based managerial decision making from strategic to tactical and operational levels. Then, after providing samples of wrong decisions, it also discusses about decision deficit disorders. It covers how organizations make use of Business Intelligence & Analytics as a strategy to gain a competitive advantage. It is very important to understand that BI&A implementation is a type of culture change in an organization. Students will learn how to collect, process and transform data into information processes, knowledge, actionable decisions and processes with some of today’s most current information management solutions, e.g. business-, mobile-, social-, and cloud-intelligence & analytics.
What does BI&A mean to professionals in every field? This course has significance for all professions. Proficiency in BI means excelling at what you do with the help of information. • For marketing professionals, it means understanding not only what the customers want to buy, but how much they are willing to pay, and what keeps them loyal. • For human capital managers, it means knowing how much personnel contribute to or take away from the bottom line and how salary relates to their performance. • For finance professionals, it means being able to not only measure performance based on accurate financial information, but also asses the value of intangible capabilities. It also means having a balanced portfolio of metrics as a strategic management system. • For supply-chain managers, it means not just tracking inventories, but also anticipating and preventing future problems and designing more responsive supply networks. • For engineers and production managers, it means maximizing yields, and predicting equipment malfunction before breakdowns occur. • For healthcare personnel, it means saving patient lives by intervening at the first tell-tale signs in real-time. • For IT professionals, it means reinvigorating the company’s CRM and ERP systems and integrating information into a data warehouse. It means having an IT strategy and cross-functional teams that support the above initiatives. • For insurance companies, it means profitably insuring customers traditionally in high-risk categories, detecting fraudulent behavior before it is too late, and optimizing rate structures. • And many more…
Student learning goals
Develop an understanding of the value of evidence-based decision-making
Learn how a firm competes with business intelligence & analytics, and builds a sustainable competitive advantage
Which are the cutting-edge practices and solutions (e.g. mobile, social, cloud intelligence) within BI through which competitive advantage can be built?
Learn fundamentals of database management, and relationship between data, information and knowledge
Build familiarity with innovative uses of IT to support managerial decision-making
General method of instruction
Lectures and hands on practices
Class assignments and grading
Hands on exercises
Hws, project and final exam