Fundamentals of Business Analytics

Presented by Dr. Mark Griffin, Chair of IIBA Busines Analytics SIG

Business analytics is about turning data into insight and using this insight to make better business decisions. Today the opportunity to make better decisions is growing as technology is becoming increasingly sophisticated and the amount of data available is growing. Business analytics, when implemented correctly, are a source of competitive advantage for a firm.
Firms across all industries are taking advantage of business analytics. In retail, automobile rental companies are using business analytics to optimise repurchase through the choice of lighting and interior decoration of their stores. Supermarkets are optimising purchase by analysing spending patterns to decide where to place items within the store. Banks are saving millions using business analytics to stop fraud before the charge has been paid. Every company has the ability to harness the power of business analytics. It is estimated that 96% of companies fail within their first ten years. The chance of failure is higher if firms fall behind their competition by not adopting business analytics. 
 
This webinar will address the fundamentals of business analytics. Specifically, it will address: 
 
  • What data is.
  • How data has been/will be used.
  • How data can be used in a business context.
  • How to incorporate data analysis into your business.
  • What possible challenges may arise from the implementation of business analytics.
Webinar program in Business Analytics
This webinar starts the 2018 webinar program for the IIBA Business Analytics Special Interest Group. To keep up to date with future webinars please consider joining our LinkedIn Group. In addition, the SIG is always looking for new volunteers to expand our committee, where interested IIBA® Members are encouraged to contact Mark to discuss these roles further.
 
About the Speaker
Dr Mark Griffin is the Chair of the IIBA Business Analytics SIG. Mark is also the Director of Insight Research Services Associated where he has presented over 100 two-day and five-day face-to-face workshops and webinars in the field of business analytics. A major analytics project that Mark is currently leading is being conducted in partnership with the Queensland Ambulance Service. The QAS visits approximately 700,000 incidents per year, where this project explores a variety of analytics tools to understand these data including market segmentation, text analytics, and spatial mapping (GIS).