COURSE OVERVIEW:

Business analytics (BA) is the practice of iterative, methodical exploration of an organisation's data, with an emphasis on statistical analysis. BA is used to gain insights that inform business decisions and can be used to automate and optimise business processes. Successful business analytics depends on data quality, skilled analysts who understand the technologies and the business, and an organisational commitment to data-driven decision-making.

Business analytics is about improving the business’s basis for decision making, its operational processes, and the competitiveness obtained when a business is in possession of relevant facts and knows how to use them. Consultants have too often experienced business analytics (BA) as purely an IT discipline, primarily driven by the organisation’s technical environment, which results in BA initiatives floating aimlessly. Successful BA initiatives are always closely interlinked with the organisation’s strategy (mission, vision, and goals) and are put in place to strengthen the ability of business processes to move in the right direction toward business objectives.

Business analytics is not a new phenomenon—it’s been around for the past 40 years—but with a firm anchoring in the technically oriented environment. Only recently is it making its breakthrough as the business is assuming ownership. We are seeing more and more companies, especially in the financial and the telecom sector, set up actual business analytics departments, designed to support business processes and improve performance. So what is the reason for this shift and the embedding of BA in the organisation?

This course provides an overview on Business Analytics. In the first part we examine the BA model. The model provides an outline for understanding—and creating—successful business analytics in any type of organisation. This part covers the spectrum from business strategies to sourcing of data from the operational systems (data sources) as well as a case study that illustrates a BA process.

The second part addresses the important relationships between overall business strategies and the information that the BA function can deliver in this context. Then we explain the three disciplines for market leadership and we look at the information that the BA function needs to deliver to support these. Finally, we explore the future of business analytics.

LEARNING OUTCOMES:

By the end of this course, you will be able to understand:

• What does Business Analytics mean?
• What a BA as an information system consists of?
• The business analytics model
• Strategy creation in BA
• The business processes and information use
• The types of reporting and analytical processes
• Data sources: IT operations and development
• The deployment of the BA model
• The overall strategic targets of the business
• The functional strategy and business case
• Business processes and actions
• The analytical processes and front-ends
• Data warehouse
• The evaluation of the BA process
• The establishment of successful BA
• Business analytics at the strategic level
• The link between strategy and the deployment of BA
• How BA supports strategy at a functional level?
• The relationships between strategic level and functional level
• The five requirements for targets
• The requirements to benchmarks
• The dialogue between the strategy and the BA functions
• The feedback processes and learning at the strategic level
• Information as a strategic resource
• The three disciplines for market leadership
• The product and innovation perspective, the customer relations perspective and the operational excellence perspective
• Business analytics in the future
• The information wheel

COURSE DURATION:

The typical duration of this course is approximately 2-3 hours to complete. Your enrolment is Valid for 12 Months. Start anytime and study at your own pace.

COURSE REQUIREMENTS:

You must have access to a computer or any mobile device with Adobe Acrobat Reader (free PDF Viewer) installed, to complete this course.

COURSE DELIVERY:

Purchase and download course content.

ASSESSMENT:

A simple 10-question true or false quiz with Unlimited Submission Attempts.

CERTIFICATION:

Upon course completion, you will receive a customised digital “Certificate of Completion”.