Big Data in Decision Making Processes
A recent study by the Boston Consulting Group and Amazon, which looked at 167 companies in five sectors, showed that leaders in big data generate an average of 12% more revenue than those that do not maximize their use of analytics. However, in order to maximize that benefit, managers require the insight and understanding of how to utilize big data effectively.
The English language program Big Data in Decision Making Processes aims to turn participants into informed and empowered managers of data. The combination of case studies, lectures and class discussions will facilitate an understanding of the role of big data in managerial decision making. Participants will apply critical thinking to assess material presented to them, and learn to distinguish good analytics from bad analytics.
This program has been designed for mid or junior-level managers who need to understand the role of big data in managerial decision making. Participants are not required to have any mathematical or statistical prowess in order to follow its content or benefit from it.
- Understand use of data to guide decision making
- Develop ability to spot bad analytics
- Feel empowered to critically question and assess data analytics
- Mastery of basics of running an experiment to inform managerial decisions
- Why managers need big data and big data needs them
- The difference between descriptive, predictive, and prescriptive analytics
- How to distinguish between good and bad data analytics
- The new gold standard: Business experiments for managerial decision making
Big Data for effective decision making processes
- 29. Jun 2018
- 1 Day
- 1,200 €
Rajshri (Raji) Jayaraman is an associate professor (with tenure) of economics. She received her PhD in Economics from Cornell University and worked at Center for Economic Studies (CES) in Munich before joining ESMT in 2007. Raji’s fields of interest are development economics and labour economics. Her research has examines how people respond to incentives, using micro data on individuals, schools and firms in India, Germany and Canada. She is currently serving as faculty lead for our full-time MBA program.