Big Data Applications in Business
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Corporations are increasingly flooded with data collected from different touch points with customers. These can be sales transactions, inquiries, surveys, clickstreams, and comments collected from a wide spectrum of social media platforms. Most importantly, these data are collected automatically in real time through an increasingly number of channels including POS, ERP, CRM, web, and mobile apps. They provide corporate executives with an immense potential to better understand their customers and to formulate actionable strategies to maximize business opportunities. Data analytics (or Big Data) enables executives to unleash this potential through a systematic way to acquire, analyze, and experiment with data collected from internal and external sources. As competition intensifies at a global scale, data analytics will become a core competence of executives who aim to identify and exploit business opportunities at different stages of the value chain.
- Understand the key concepts of big data and its potential through case studies and review of real business applications.
- Develop a framework of data-driven decision making and continuous experimentation to understand customer behavior and preference.
- Acquire hands-on experience with tools in data analysis, email campaign, and text analysis.
- Understand the infrastructure requirements and project management skills required to implement successful data analytics projects.
- What are the driving forces behind the big data phenomenon and where is it heading?
- How big data is affecting the economy and why many companies are falling behind the curve in reaping its benefits?
- How customer data are classified and what are the common pitfalls and biases in managing and interpreting data?
- What are the basic concepts of data analytics from a managerial and non-technical perspective?
- Learn the basic tools to analyze data and how they can be applied in business settings.
- How data are collected and how companies can facilitate data collection through its many touch points with customers?
- Management of data analytics projects and how to establish a winning project team?
- Experience sharing of senior executives engaged in data intensive projects.
- Introduction and overview
- Pitfalls and biases of managerial decision making and how a data-driven decision mindset can help to increase the objectivity and effectiveness of decision making
- The data-driven decision making framework of data analytics
- Data types, data sources, and data collection methods
- Basic analytic techniques and hands-on experience using customer datasets
- How to measure success of data analytics
- Planning for data analytics and project management
HOW WILL YOU BENEFIT
World Class Faculty
HKUST Business School is home to both experienced academic scholars and bright young faculty. Our faculty team is from renowned universities with extensive experience in both executive teaching and industries worldwide. Inspiring people for continued success is our goal.
To address the specific learning needs from executives and business leaders and to embrace new and greater challenges, our world class faculty contribute their expertise and insights, bring together multi-disciplinary management, innovative and cutting-edge knowledge from all over the world to our programs.
Diversified Participant Mix
Differing perspectives can be of great value. Our open programs not only boost executive abilities and improve performance; they also offer valuable chance to interact with diverse group – seasoned executives from various industries, functions and regions.
Rewarding Learning Experience
Busy executives and business owners can tap into our intensive program schedule and state-of-the-art learning environment, and immediately apply what they learnt as well as refresh their minds to generate new insights to ensure a solid return and high-impact learning result.
To network, share experience, and exchange insights with peers with extensive managerial experience are value-added benefits for participants to drive career and company to new levels of success.
Who should attend
Executives involved in sales, marketing, customer relationship, loyalty program, electronic commerce, social media platforms, and corporate IT management. Concepts and techniques are introduced from a non-technical perspective. The program is particularly useful for executives who are leading or exploring data analytics projects and can apply the skills learned in the program in implementing their projects.