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10. fri 1130 1230 soni - analytics in academia
 

10. fri 1130 1230 soni - analytics in academia

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    10. fri 1130 1230 soni - analytics in academia 10. fri 1130 1230 soni - analytics in academia Presentation Transcript

    • Deloitte’s Analytics Symposium 2010 The future of analytics in academia Ashok Soni Chair of Operations and Decision Technologies Kelley School of Business Indiana University October 2010
    • Agenda • Why Business Analytics and what the needs are? • The new Kelley-Deloitte Graduate Certificate Program in Business Analytics • The developing environment for business analytics • The business analytics “value chain” • Panel discussion: leveraging analytics As used in this document, “Deloitte” means Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. 1 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • The Deloitte-Kelley Collaboration • Over 230 Kelley graduates at Deloitte – Janet Foutty is a member of the Kelley Dean’s Council – Mark Zozulia is the campus champion • Deloitte has been the top hiring company at Kelley for the last two years and in the top five for the three prior years. • Deloitte is an active participant in the Kelley School’s programs – A sponsor of the Kelley Undergraduate Consulting Workshop – A member of the Undergraduate Career Service Advisory Council – A sponsor of an annual case competition – Provide guest lecturers for both Undergraduate and Graduate classes 2 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • Why Business Analytics Now?
    • Business analytics: Deja vu all over again? Hardware and The real data software: explosion Better, faster, cheaper Why now? New basis for Management competition sophistication 4 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • Analytics in the Gartner Hype Cycle 3D Television Visibility Predictive analytics Tablet PCs Consumer “Computer/Brain” Generated Media Interface Technology Peak of Inflated Trough of Slope of Plateau of Trigger Expectation Disillusionment Enlightenment Productivity Maturity 5 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • What are the implications? • Need more trained and qualified professionals in Business Analytics • How can that be done? – Graduate more students – Train more corporate professionals 6 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • The New Kelley-Deloitte Graduate Certificate Program in Business Analytics
    • The Certificate in Business Analytics — A Deloitte-Kelley Program • A Four-course/12-credit hour custom developed Graduate Certificate Program in Business Analytics exclusively for Deloitte. • Primary objective: To fulfill the emerging need for professionals in the area of business analytics. • Will provide both a technical background and the ability to work with analytics from a consulting perspective. • The certificate will be delivered via a blended format, with in-residence sessions in Bloomington as well as sessions using Kelley’s online system. • First cohort will begin November 7, 2010 8 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • The Certificate Program •Consists of four courses: – Business Analytics Foundations – Data Mining and Visualization – Business Analytics Modeling Tools – Developing Value through Analytics Applications • Highly customized and may be modified for different audiences within Deloitte • Credits may be used towards a Kelley Masters or an MBA Program • A side benefit: This program is going to enable us to develop a broader based program in Business Analytics 9 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • Descriptions of the classes: Business Analytics Foundations – The Business Analytics Value Chain: Framing to decision making – Multivariate regression modeling – Predictive analytics with logistic regression, decision trees, and neural nets – Unsupervised data-mining tools – Forecasting Data Mining and Visualization – The data-mining process – Using and interpreting data-mining software – Collaborative filtering models and recommendation engines – Text analytics – Web analytics 10 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • Descriptions of the classes: (cont.) Business Analytics Modeling Tools – Advanced optimization techniques for decision making • Linear and nonlinear optimization • Integer programming • Genetic algorithms • Advanced optimization software tools – Simulation modeling and analysis Developing value through Analytics Applications – Applications of analytics in: • Finance • Marketing • Supply chain • Health care 11 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • Building tomorrow’s analytics Professionals — Savvy business leaders at the Kelley School
    • The Business Analytics Value Chain Phase 1 Phase 2 Phase 3 Phase 4 Phase 5 13 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • The business analytics value chain (cont.) • Where are the “traps”? Phase 1 Phase 2 Phase 3 Phase 4 Phase 5 • Where are the bottlenecks? • What are the implications for business analytics education? 14 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • Business understanding and problem definition • Framing and understanding the problem: “What is half of thirteen?” • Establishing benchmarks and expectations: What is the business doing today and where do they need to go? • The importance of domain knowledge • Avoiding “Type III” errors 15 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • What is half of thirteen? Answer: It depends upon how the problem is defined and understood. thir 1 6.5 teen 3 thirteen thirteen thirteen 16 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • Data preparation and understanding • T.S. Eliot wrote: Where is the wisdom we have lost in knowledge? Where is the knowledge we have lost in information? To which we might add, Where is the information lost in the data? • This can be the most time-consuming phase of the process; up to 75%. • Considerations include: timeliness, availability, quality, relevance. 17 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • Building the models • Modeling expertise: “the cost of entry” • Tapping the full array of quantitative models: – Simulation – Optimization – Statistical analysis • Predictive analytics • Unsupervised data mining – Forecasting • Software: SAS Enterprise Miner, SPSS Modeler, TIBCO Spotfire, @RISK, and others 18 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • Communicating results and recommendations “Zone of acceptance” “I already “I don’t knew this” believe this” High Low “Consistency with expectations” 19 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • The goal of the Kelley program in analytics: Creating “The Complete Analyst” Quantitative Analyst Analytics Business 20 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • The goal of the Kelley program in analytics: Creating “The Complete Analyst” Business Analyst Analytics Business 21 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • The goal of the Kelley program in analytics: Creating “The Complete Analyst” Complete Analyst Analytics Business 22 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • Panel discussion: How can business leaders prepare culturally, organizationally, and technically to leverage business analytics? Ashok Soni, Indiana University Hugh Watson, University of Georgia Barb Wixom, University of Virginia 23 The Future of Analytics in Academia Copyright © 2010 Deloitte Development LLC. All rights reserved.
    • About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. "This presentation contains general information only and is based on the experiences and research of Deloitte practitioners. Deloitte is not, by means of this presentation, rendering business, financial, investment, or other professional advice or services. This presentation is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte, its affiliates, and related entities shall not be responsible for any loss sustained by any person who relies on this presentation. Copyright © 2010 Deloitte Development LLC. All rights reserved. Member of Deloitte Touche Tohmatsu Limited