Today’s Top Business Priority: Business Information and Analytics
Most people have heard about the field of analytics and know enough to understand that it involves data and numbers, technology and statistics. In today’s data-driven business world, analytics takes on new and important meaning. Armed with the right business intelligence and information, professionals and business owners can leverage information to make better decisions and gain a competitive advantage.
Examples of analytics in business can be seen everywhere. The convenience store chain that analyzes beverage sales and outside temperatures to determine how much cold drink inventory it will need; the retailer that studies consumers and how they interact with their product or service online, in person and via social media before devising televised advertising campaigns; or the cable company that analyzes household incomes to determine sales promotions to run in different geographical regions—are just a few examples.
The Daniels College of Business Department of Business Information and Analytics strives to fulfill the worldwide demand for business professionals who can implement modern analytic techniques to achieve competitive advantage and internal efficiency. The graduates of Daniels MS and BSBA in business analytics programs are capable of making informed decisions using advanced analytical techniques. The program is built on three pillars:
- Data – Students learn how data is collected, stored, managed, cleaned, transformed and used by all types of organizations.
- Analytics – Students learn to use appropriate statistical methodologies for problem identification and solving.
- Business – Students build on their understanding of the business environment, considering regulatory, privacy, competitive and other factors.
Keeping true to the Daniels commitment to innovation, we launched a brand new undergraduate major in business analytics this fall—only the second in the United States. Two years ago, we developed the first interdisciplinary master’s degree in business analytics in the nation. Both programs are rooted in critical thinking, analytics and ethics, and incorporate real world projects with companies such as Crocs, Catholic Health Initiatives, Jeppesen and Walmart Labs, as well as organizations such as the City and County of Denver and the State of Colorado.
We are very excited to be at the forefront of this dynamic industry and we know that these programs will be a future area of growth—and strength—for the College. As business analytics has become a critical tool for all types of industries, Daniels plays an important role in helping develop professionals who are capable of leading companies toward success through making more informed decisions.
Dr. Andrew Urbaczewski is the chair of the Department of Business Information and Analytics. He is the past editor-in-chief of the Journal of Information Technology Cases and Applied Research. He researches mobile phone design, mobile commerce, information security education and electronic health record implementation.