Understanding Big Data Analytics: Tools for Business
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"If digital is the new economy, then data is the new currency" Justice Chikomba, faculty, GIBS
Companies often sit on large amounts of unused data without extracting any value from it. This is a missed opportunity to harness the power of analytics in generating actionable insights from massive amounts and diverse types of rapidly growing data (big data). An organisation's ability to build effective big data analytics competencies in their sales and marketing functions will increase their bottom-line, create customer value and set them apart from their competitors.
Whilst organisations acknowledge the value they can potentially derive leveraging big data analytics, a recent study by McKinsey & Co revealed that few know where to start nor do they have a defined strategy for big data initiatives. This course will tackle this and other challenges hampering progress in efforts to unlock the value of big data analytics and recommend practical ways of benefiting organisations.
How you will benefit
At the end of the programme, you will be able to:
- Define big data and give an overview of the attributes thereof;
- Craft a sound big data strategy for your organisation or department;
- Learn from proven cases of organisations in your industry where big data analytics delivered demonstrable and measurable value;
- Build competent teams and successful big data analytics practices in your organisation;
- Be a strong contender in the scramble for unicorns - Commonly referred to as “unicorns”, great data scientists and big data analysts are not only hard to find, but when you find them they can be very expensive;
- Understand some of the key issues around big data such as ethical considerations, legal compliance, security and implications for data governance; and
- Work through practical example(s) of solving real business problem(s) through machine learning.
Key focus areas
- Crafting big data analytics strategy;
- Building effective big data analytics competencies in your organisation or department;
- Measuring the value of big data analytics;
- Building a business case for big data analytics; and
- Practical problem-solving and/or opportunity exploitation through big data analytics.
Who should attend
- General managers;
- Functional managers;
- Big data project managers;
- Business and data analysts; and
- Digital transformation professionals.