Big Data Analytics and Strategy
With the increased production of data and the storage and availability of digital data, organizations have become more of a data business. By “data business”, organizations can make use of the data it has stored to make better decisions and improve its operations, or it can turn data into its additional business by monetizing the data it has. Big Data Analytics is no longer a “good to have” feature in any organization’s suite of functions, it has become a “must have” activity. Unfortunately, many organizations lack the talent and structure to turn Big Data Analytics into a common practice. Focused on the understanding of Big Data Analytics, this course explores how organizations could use their well-captured big data to strategize and reshape their organizations for greater productivity and effectiveness.
Learning Objectives and Outcomes
Course will enable participants to:
- Understand what big data is and how Big Data Analytics can help organizations achieve a competitive advantage.
- Appreciate the benefits and insights that Big Data Analytics and machine learning bring to the organizations.
- Learn to make strategic use of the data available in organizations.
- Learn how to use data to improve business decisions and operations.
- Learn how to monetize data to increase the organization’s revenue.
Teaching methodology: This course will be complemented with case studies and market research.
- The growth of Big data and the Internet of Things
- Data-driven organization
Strategic data needs
- Using data to improve decision making
- Using data to drive operational improvement
- Using data as business asset
- Making a business case for data
Turning data into insights
- What is data analytics?
- Different types of data analytics
- Advanced analytics: machine learning and deep learning and cognitive computing
- Combining analytics for maximum success
Using data to improve decision making
- Key business questions
- Visualizing and communicating insights from data
Using data to improve operations
- Optimizing operational processes with data
- Use data to enhance business processes
- Use data to enhance sales and marketing processes
- Use data to improve manufacturing process
Using data as business asset
- Increasing the value of your organization
- The value lies in a company’s ability to work with data
- Selling data to customers or interested parties
- Understanding the value of user-generated data
Sourcing and collecting data
- Understanding the different types of data
- New types of data
- Gathering internal data
- Accessing external data
- When the data you want does not exist
Executing data strategy
- Putting data strategy into practice
- Creating a data culture
Who should attend?
- C-level executives
Course Duration: 1 day
Course fees: $1284 (inclusive of GST)