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WDSI - Business Intelligence
 

WDSI - Business Intelligence

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Can undergraduate business statistics courses be replaced by a more relevant and effective course?

Can undergraduate business statistics courses be replaced by a more relevant and effective course?

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  • Hello Everyone. My name is Cam Peterson. I am part of the Business Intelligence Group at Utah State University. I am a graduate student in Management Information Systems.\n
  • Before I begin though, I want to make a few assumptions:\n- An undergraduate business school’s main role is to create qualified graduates\n- Students expect to graduate fully prepared for employment\n- Today’s current job market requires competent, analytical candidates who are ready to work\n- However, most do NOT graduate sufficient quantitative skills\n\n
  • I want to get a feel for who is in the audience today. Could you raise your hands if you've received a Master's degree? (Ask which degree)\nCould you raise your hands if you've received a Doctorate degree?(Ask which degree)\nOne last questions. Assuming that you enjoyed your graduate studies, why do you think graduate studies are more enjoyable or effective than undergraduate studies? (Possible answers: relevance, depth, application to career goals)\n
  • Relevance is the foundation for the argument I am making today.\n
  • This of course, is referring to undergraduates.\n
  • With those assumptions I argue that... (read slide)\n
  • BI has come to mean many things. This is my definition:\n
  • But we have taught general statistics for so long. Can we really change what we teach?\n
  • Although graduate schools do teach BI as an in-depth graduate level course, BI is not taught regularly in undergraduate business courses even though there are many organizations that are searching for qualified individuals (Caputo et al., 2006). \n
  • Even in Utah there are a lot of jobs.\n
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  • Let’s take a look at a day in the life of a business analyst\n
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  • After establishing where the required data lives, it is now time to retrieve the data\n
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  • Advanced spreadsheet functions include lookups, stats, etc.\n
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  • Dr. Merrill, renowned for his research into instructional theory, suggests that a problem based approach \nEverything about the learning process points to solving the problem\n
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  • Take two students for example, one who took a business statistics course, and another who took a business intelligence course. In a job interview, they are asked about their ability to perform mathematical analysis. The business statistics student may discuss probability or Chi-square analysis. The business intelligence student tells the interviewer that he/she took a business intelligence course. In the course the student (working in groups) were given a specific business problem. The students analyzed the problem, established potential company resources where relevant data could be acquired, queried the data, performed mathematical analysis on the data and made suggestions or business decisions based on the data.\n
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WDSI - Business Intelligence WDSI - Business Intelligence Presentation Transcript

  • BUSINESS INTELLIGENCE Business Intelligence A relevant alternative to Business Statistics courses Cameron J. Peterson Utah State University Business Intelligence
  • IntroductionCameron J. PetersonM.S. Management Information Systems - Utah StateUniversityEmphasis in emerging technologies (NoSQL, etc.)Slides at http://www.slideshare.net/campeterson Business Intelligence
  • AssumptionsA business school’s main role is to create qualifiedgraduates, prepared for work in the business worldUndergraduate business students expect to graduatefully prepared for employment in the business worldToday’s current job market requires competent,analytical candidates that can confidently put their skillsto workUndergraduate business students do NOT graduate withquantitative skills sufficient to perform quantitativeanalysis in the business world Business Intelligence
  • Know your audienceMaster’s degrees?Doctorate degrees?Why did you enjoy your graduate studies? Business Intelligence
  • RELEVANCE Business Intelligence
  • Students often leave school without sufficientquantitative skills, including data manipulation,statistical, and analytical skills. (Green, 2007) Business Intelligence
  • ArgumentBusiness statistics courses in undergraduate businessschools could realistically be replaced by a “BusinessIntelligence” course which would:1.more appropriately prepare business students for work in the current professional environment2.increase the level of student comprehension of the fundamental quantitative skills used in business Business Intelligence
  • Business IntelligenceThe strategic organization, analysis and applicationof data within a business to provide decision makerswith information for decision makingBusiness Intelligence includes: data mining, datawarehousing, statistical analysis, reporting,forecasting, optimization, decision support tools, andmore... Business Intelligence
  • Gartner recently announced that data analytics holdstwo positions among 2011’s top strategictechnologies. They predict that simulations andmodels based on data from past customerinteractions will allow businesses to be moresuccessful (Gartner 2011) Business Intelligence
  • AACSB“Curricular contents must assure that program graduates are preparedto assume business and management careers as appropriate to thelearning goals of the program.”“Topics typically found in general management degree programsinclude: Statistical data analysis and management science as they support decision-making processes throughout an organization. Information acquisition, management, and reporting for business (including information management and decision support systems for accounting, production, distribution, and human resources)“ http://www.aacsb.edu/accreditation/business_standards.pdf Business Intelligence
  • How big is BI right now?Job Searches “Business Intelligence” “Business Analysis” Dice.com 4460 15760Indeed.com 58,641 297,351Monster.com >1000 >1000jobs.utah.gov 62 681 Business Intelligence
  • A job descriptionFinance & Analytics - Business Intelligence“Accounting and some experience with datawarehouse systems and databases, various types ofreporting tools, software programs and datamodeling or other directly related experience.*Requires a working knowledge of businessintelligence tools, systems, processes, and datamodeling.” Business Intelligence
  • BI is multi-disciplinary‘Though closely tied to statistics and informationtechnology, data mining cuts across all businessfunctions and draws on expertise at every level of anorganization … drawing on the expertise of manydifferent disciplines …’."(Conerly, 2008) Business Intelligence
  • A DAY IN THE LIFEOF A BUSINESS ANALYST Business Intelligence
  • The ProblemAn Executive come to the analyst with a problem:“This new tire company claims that it will save usthousands of dollars every year by upgrading totheir premium tires on our semi-trucks, if they last10,000 more miles, how much could we reallysave?” Business Intelligence
  • Data & tools availableData Sales/transaction database Operational databaseTools MS Excel, Data analysis tools SQL Business Intelligence
  • Get the dataRequired skills: SQL (Joins, Sub-queries) Knowledge of relational database architecture Business Intelligence
  • Validate data accuracyPull samples of source data and compareHigh level analysis of data Does it make sense? Compare to annually reported data Ex. General ledger = Sum of all the parts Business Intelligence
  • Manipulate the dataUse spreadsheets or other data analysis toolsSkills Required: Regression, Histograms, Normal Distribution Monte Carlo Analysis Knowledge of advanced spreadsheet functions Business Intelligence
  • Present the dataPresent findings in a presentationCreate graphs, charts or visualizationsBuild a model for data manipulationExplain the implications of the data Business Intelligence
  • Business Intelligence in the Business CurriculumSumit Sircar (2009) - Communications of theAssociation of Information Systems Business Intelligence
  • THE COURSE OUTLINE Business Intelligence
  • Problem based learningM. David Merrill’s 5-Star Instruction http://www.cognitivedesignsolutions.com/Instruction/5Star.htm Business Intelligence
  • Makeup Students will... of course Analyze Be able to systematically analyze business Problem 10% problems Understand RDB architecture and performGather Data 35% extensive SQL to gather data Test Data Understand risks associated with flawedfor Accuracy 10% data.Validate data for correctness Analyze Understand data distributions. Analyze data Data 35% in search of correlation, perform simulations Present Build models, charts and graphs. Accurately Data 10% communicate the implications of the data Business Intelligence
  • Makeup Students will... of course Analyze Be able to systematically analyze business Problem 10% problems Understand RDB architecture and perform Gather Data 35% extensive SQL to gather data Test Data Understand risks associated with flawed for Accuracy 10% data.Validate data for correctness Analyze Understand data distributions. Analyze data Data 35% in search of correlation, perform simulations Present Build models, charts and graphs. Accurately Data 10% communicate the implications of the datato solve a business problem Business Intelligence
  • Statistics is still relevant"Most academics agree that business statistics shouldbe application oriented. With increased access tosophisticated computers and software, thecomputational aspects of statistical procedures havebecome less important. However, if the statisticalconcepts are not well understood, students will beunable to understand a computer printout of even asimple statistical analysis. While they may not haveto perform the underlying calculations, the key issueis whether the students understand the analysis wellenough to interpret the results." Islam (2005) Business Intelligence
  • Two scenariosA student who took a business statistics course...A student who took a business intelligence course... Business Intelligence
  • In conclusion...Business Intelligence is a more relevant solution forpreparing undergraduates for quantitative analysisthey will encounter in the business world.“Curricular contents must assure that programgraduates are prepared to assume business andmanagement careers as appropriate to the learninggoals of the program.” (AACSB Standards) Business Intelligence
  • Future WorkProof of concept courseDevelopment of course curriculumImplementation of course, analysis of theimplementation Business Intelligence
  • Caputo, D. J., Kovacs, P. and Turchek, J. C. (2006) “Defining the Essential Skill and Functional Areas of Study in Information Technology as Measured by a Survey of Field Professionals”, Information Systems Education Journal, Vol.4, (6)Conerly, M. D. and Hardin J. M. (2008). Teaching Data Mining: the University of Alabama and SAS. http://analytics.ncsu.edu/sesug/2008/MPSF-080.pdf.Gartner (2010). Gartner Identifies the Top Strategic Technologies for 2010http://www.gartner.com/it/page.jsp?id=1454221.Gougeon, D. J. (2004). Statistics Courses in the Business Curriculum: The Relationship Between Text and Context. Florida Journal ofEducational Research 42, 71-89. http://www.coedu.usf.edu/fjer/2004/fjerv42p7189.pdf.Green, J. J., Stone, C. C., Zegeye, A., Charles, T. A. (2007). Changes in Math Prerequisites and Student Performance in Business Statistics:Do Math Prerequisites Really Matter? The Journal of Economics and Finance Education 6 (2): 27-38. http://web.bsu.edu/cob/econ/research/papers/green2007jefe.pdf.Islam, F., Gygi, J., Gardner, N. D., & Gooch, R. (2005). Relevance Of Prerequisites To Business Statistics: Some Preliminary HypothesesAnd Tests. Journal of College Teaching & Learning, 2, 53-58. http://www.cluteinstitute-onlinejournals.com/PDFs/200584.pdf.Kuonen, D. (2004). Data Mining and Statistics: What is the connection? The Data Administration Newsletter Oct. 2004. http://www.tdan.com/view-articles/5226/.Mrdalj, S. (2007). Teaching An Applied Business Intelligence Course. Issues in Information Systems, 8, 134-138. http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.111.2108&rep=rep1&type=pdf.Negash, S., Gray, P. (2003) “Business Intelligence”, AMCIS 2003 Proceedings, AIS.Sircar, S. (2009). Business Intelligence in the Business Curriculum. Communications of the Association of Information Systems, 24, 289-302.http://aisel.aisnet.org/cais/vol24/iss1/17/.Sullivan, T. (2008) “Top IT Spending Priorities in an Economic Recession”, CIO, http://www.cio.com/article/464513/Top_IT_Spending_Priorities_in_an_Economic_Recession.Teradata University Network (2009) “The State of Business Intelligence in Academia”, http://www2.commerce.virginia.edu/bicongress/images/BI%20in%20Academia%202009.pdf. Business Intelligence
  • Other ContributorsZsolt Ugray, PhD.David Olsen, PhD.John Johnson, PhD.The Business Intelligence Group at Utah StateUniversity Business Intelligence
  • a more relevant name for the presentation should be...BUSINESS INTELLIGENCE Toward more quantitative and employable graduates Cameron J. Peterson Thank you... Business Intelligence
  • ! Business Intelligence