Excerpt from course description

Value Added Analytics

Introduction

This course will focus on the value of analytics from two perspectives. First it will cover the financial implications of conducting business analytics and focus on where there is value to be generated. Secondly it will use the "Analytics Lifecycle" and focus on developing an analytics culture. With the vast increase in available data for analysis, it is easy to lose focus on what actually drives business value. Although business analytics may improve the understanding of business phenomena and even improve decision making, but at the end of the day does it generate value, either to shareholders or the society at large.

Students will use the theory and models discussed in the course and write up several case reports from previous and new analytics problems they have encountered in order to analyse the financial value and implementation issues.

Before an analysis takes place, what are the financial metrics relevant to evaluate. How will the outcome of the analytics flow through to the profit and loss statement of the company?

 

Course content

  • Analytics Lifecycle
  • Learning the structure of a business case
  • Developing a Business Case for analytics projects
  • What is meant by the term value
  • Sequential model for value based decision making
  • Quantifying risk
  • Valuing flexibility in decisions
  • Business case formats in international companies
  • Implementation issues of business analytics
  • Evaluation of analytics projects for future learning

Disclaimer

This is an excerpt from the complete course description for the course. If you are an active student at BI, you can find the complete course descriptions with information on eg. learning goals, learning process, curriculum and exam at portal.bi.no. We reserve the right to make changes to this description.