Master’s Degree in Business          AnalyticsThe Path to a Promising Career
Business Analytics: No Longer an                  Option for Success in 21st Century• Focus is on developing new insights ...
Answers                       Big (Holy Grail) Questions• 5% of my customers contribute 105% of my  profits. Who are they ...
The Tennessee                      Business Analytics Model• Apply big picture thinking to ask the right  question• Use an...
Moneyballmsanalytics@utk.edu  (865) 974-4116
The Standard Question in Major                             League BaseballHow can we maximize      Quality of Players/ $ D...
The Oakland A’s        Asked the Right QuestionHow do we Maximize  Wins/ $ spent?     msanalytics@utk.edu       (865) 974-...
The Oakland A’s Used Analytics to                      Answer the QuestionStatistical Analysis (guided by processknowledge...
They Communicated the Answer in a             Format Everyone Easily UnderstoodQuestion - Why do we want that player?Answe...
Target Data Analyst Internship           Lisa Hill         Summer 2011
Asking the Right Question• How does a customer’s target.com  browsing pattern influence them to make  an in-store Target p...
The Data-Driven Process to Answer                              the Question• Because we are trying to predict customer  be...
Findings• Successful model that predicts how groups of  customers will behave based on their  target.com browse behaviors ...
Cummins Global Lean Initiative     Group Internship            Tony Beal          Summer 2011
Asking the Right Question• Is it possible to predict the accuracy of a  line picker in the warehouse?  • Will the Hays Apt...
The Data-Driven Process to Answer                             the Question• Needed to find correlation between test result...
Findings• Not 1 of the 4 sections of the test had any  correlation with associate performance  – Saved company $75 per new...
Companies that Hire Our Students   msanalytics@utk.edu     (865) 974-4116
2012 Graduate Salaries  $61,000 - $95,000       msanalytics@utk.edu         (865) 974-4116
Why number of companies and                 salaries will significantly increase1. CEOs recognize business analytical tale...
Why number of companies and                salaries will significantly increase1. CEO’s are demanding this talent in their...
Business AnalyticsBy 2018, the U.S. will face a shortage of1,500,000 managers who can use data to shapebusiness decisions ...
UT’s Business Analytics Master’s is a                   Path to a Promising Career• High and Increasing interest by top co...
Contact Us• Please reach out to us with any questions.• Department of Statistics, Operations and  Management Science• Emai...
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Business Analytics Masters

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Learn why a Business Analytics Masters Degree is a path to a lifelong career.

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Business Analytics Masters

  1. 1. Master’s Degree in Business AnalyticsThe Path to a Promising Career
  2. 2. Business Analytics: No Longer an Option for Success in 21st Century• Focus is on developing new insights and understandings of business performance based on data and statistical methods – Analyzes past performance to aid in better decision making• Companies must embrace this because their competition is msanalytics@utk.edu (865) 974-4116
  3. 3. Answers Big (Holy Grail) Questions• 5% of my customers contribute 105% of my profits. Who are they and how do I create more of them?• One third of my new sales people fail. How can I do a better job of recruiting the right people?• Are we capturing all the relevant costs to our outsourcing decisions? How can I identify those choices that save a dime in cost, but sacrifice a quarter in revenue?• How can I double the amount my customers spend on each visit to my store? msanalytics@utk.edu (865) 974-4116
  4. 4. The Tennessee Business Analytics Model• Apply big picture thinking to ask the right question• Use analytics to answer the question• Communicate the results in a clear and concise manner msanalytics@utk.edu (865) 974-4116
  5. 5. Moneyballmsanalytics@utk.edu (865) 974-4116
  6. 6. The Standard Question in Major League BaseballHow can we maximize Quality of Players/ $ Dollar SpentConventionally answered using four measurements Running Fielding Throwing Hitting msanalytics@utk.edu (865) 974-4116
  7. 7. The Oakland A’s Asked the Right QuestionHow do we Maximize Wins/ $ spent? msanalytics@utk.edu (865) 974-4116
  8. 8. The Oakland A’s Used Analytics to Answer the QuestionStatistical Analysis (guided by processknowledge) revealed that: – Runs lead to wins – Getting on base leads to runs – Walks, on-base percentage and slugging percentage are better predictors of a player’s value than stolen bases, rbi’s, and batting average. msanalytics@utk.edu (865) 974-4116
  9. 9. They Communicated the Answer in a Format Everyone Easily UnderstoodQuestion - Why do we want that player?Answer - He gets on base.Question - How can we replace Giambi, ourbest individual player?Answer - We can’t . But we can create awinning TEAM. msanalytics@utk.edu (865) 974-4116
  10. 10. Target Data Analyst Internship Lisa Hill Summer 2011
  11. 11. Asking the Right Question• How does a customer’s target.com browsing pattern influence them to make an in-store Target purchase? • If they browsed, would they then make an in-store purchase? • If they made an in-store purchase, how much were they expected to spend?• Is this something we can predict? msanalytics@utk.edu (865) 974-4116
  12. 12. The Data-Driven Process to Answer the Question• Because we are trying to predict customer behavior, must use statistical method called predictive analysis.• Need to determine what browse factors influence store purchases and sales amounts.• Merge 2 datasets: • Guest online browse data • In-store purchase data ? msanalytics@utk.edu (865) 974-4116
  13. 13. Findings• Successful model that predicts how groups of customers will behave based on their target.com browse behaviors – Whether or not they made a purchase – How much we expect them to spend if they DO make a purchase• Results can be put into action in many ways – Online personalization, coupons, etc. msanalytics@utk.edu (865) 974-4116
  14. 14. Cummins Global Lean Initiative Group Internship Tony Beal Summer 2011
  15. 15. Asking the Right Question• Is it possible to predict the accuracy of a line picker in the warehouse? • Will the Hays Aptitude Test accurately predict how an associate will perform?• How can we go about determining this? msanalytics@utk.edu (865) 974-4116
  16. 16. The Data-Driven Process to Answer the Question• Needed to find correlation between test results and associate performance• Two Possible Methods • Run longitudinal test to determine how new hires perform at line picking positions • Have current line picking associates take tests and calculate correlation value msanalytics@utk.edu (865) 974-4116
  17. 17. Findings• Not 1 of the 4 sections of the test had any correlation with associate performance – Saved company $75 per new associate hire – Started new project to determine what factors have strongest influence on performance msanalytics@utk.edu (865) 974-4116
  18. 18. Companies that Hire Our Students msanalytics@utk.edu (865) 974-4116
  19. 19. 2012 Graduate Salaries $61,000 - $95,000 msanalytics@utk.edu (865) 974-4116
  20. 20. Why number of companies and salaries will significantly increase1. CEOs recognize business analytical talent iscritical to success and are demanding this talentin their organizations msanalytics@utk.edu (865) 974-4116
  21. 21. Why number of companies and salaries will significantly increase1. CEO’s are demanding this talent in their organizations2. Supply and Demand msanalytics@utk.edu (865) 974-4116
  22. 22. Business AnalyticsBy 2018, the U.S. will face a shortage of1,500,000 managers who can use data to shapebusiness decisions May, 2010 McKinsey and Co. Study reported in Wall Street Journal 8/4/11 msanalytics@utk.edu (865) 974-4116
  23. 23. UT’s Business Analytics Master’s is a Path to a Promising Career• High and Increasing interest by top companies• Very attractive starting salaries• Recognition by CEO’s of importance to maintain competitive advantage• Projected high demand and low supply msanalytics@utk.edu (865) 974-4116
  24. 24. Contact Us• Please reach out to us with any questions.• Department of Statistics, Operations and Management Science• Email: MSAnalytics@utk.edu• Phone: 865-974-4116• Web: soms.utk.edu/analytics msanalytics@utk.edu (865) 974-4116

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