Business Analytics for Strategic and Tactical Level Decision Making
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Myths and promises surrounding Business Analytics galore. Success and failure stories of analytics ventures are visible across organizations. Real experts as well as self-styled experts keep sermonizing about the subject. The uninitiated get confused if it is a panacea, yet another hype, or something that requires informed attention. The reality is confounding to senior people, especially to those involved in tactical and strategic level decision making who have understandably not been formally trained in this emerging field. The result is the dilemma if they are treating the subject with the consideration it deserves, particularly, if they are overdoing the promises or myths surrounding the subject.
Given the nature of the subject, expertise development for the operational and tactical level requires a sound understanding of statistics, modern information-communication-computation technology, principles and practices of management, and some business domain expertise as prerequisites. Top and middle level management executives at strategic and tactical levels often may not possess all these skills and this ground reality often paves ways for misunderstandings about the subject leading to unwarranted expectations or missed opportunities caused by ignorance. This programme is meant for middle and top level decision makers operating at tactical and strategic levels. The objective is to sensitize the participants about the myths, promises, and realities surrounding business analytics to help them appreciate the potentials and limitations of analytics applications in their own organization.
- Opportunities and pitfalls of business analytics
- Data visualization
- Deep learning and use of artificial neural networks in predictive analytics
- Combining managerial expertise and data driven intelligence for decision making using Bayesian belief revision
- Decision making under uncertainty and statistical approach to business analytics
- Forecasting analytics
- Herding and cascading behavior in networks
- Emerging areas in analytics - blockchain and internet of things (IoT)
Case study, Group games, Simulations, Participatory classroom sessions, Hands-on-experience on simple projects with easy-to-use software tools, Classroom lectures.
Who should attend
Middle level and senior level managers involved in tactical and strategic decision making in any organization caring for data-driven and data-aided decision making.