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Business Analytics – The Science of Data Driven Decision Making

Executive Education IIM Bangalore > Business Analytics – The Science of Data Driven Decision Making
Venue/Deadlines Program Dates Program Fees
Venue: IIMB Campus
Early Bird Discount Date : 17 Jun, 2024
Last date for registration: 28 Jun, 2024
Start Date : 08 Jul, 2024
End Date : 12 Jul, 2024
Residential Fee(excluding GST) :  Rs. 1,57,000
Residential Early Bird Fee(excluding GST) :  Rs. 1,41,300
Non-Residential Fee(excluding GST) :  Rs. 1,32,000
Non-residential Early Bird Fee(excluding GST) :   Rs. 1,18,800

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About IIM Bangalore

Contact details:

Mr. Junaid Ahmed
Landline No.:+91-80-26993371
Mobile No. +91-8951281609
Email: junaid.ahmed@iimb.ac.in

Mode
In-Person
Starting In
July-Sep
Level
Mid-Career
Duration
Short Duration
International Travel
No
Alumni Status
No

This course is designed to provide in-depth knowledge of handling data and Business Analytics tools that can be used for fact-based decision-making using real case studies from different sectors of the industry. 

Programme Overview

The theory of bounded rationality proposed by Nobel Laureate Herbert Simon is evermore significant today with increasing complexity of business problems; limited ability of human mind to analyse alternative solutions, and the limited time available for decision making. Business Analytics is a multidisciplinary field that uses expertise such as statistical learning (SL), machine learning (ML), artificial intelligence (AI), deep learning, computer science, information technology, and management strategies to generate value and create wealth from data. Business Analytics is likely to become as a main functional area in most companies. Analytics companies develop the ability to support their decisions through analytic reasoning using various statistical and machine learning techniques. Thomas Davenport, in his book titled “Competing on analytics: The new science of winning”, claims that a significant proportion of high-performance companies have high analytical skills among their personnel.

In an article based on a survey of nearly 3000 executives, MIT Sloan Management Review reported striking correlation between an organization’s analytics sophistication and its competitive performance. The biggest obstacle to adopting analytics is the lack of knowhow about using it to improve business performance. Business Analytics uses statistical, machine learning, artificial intelligence, operations research, and management tools to drive business performance. Many companies offer similar kinds of products and services based on a similar design and technology and find it difficult to differentiate their product/service from their competitors. However, companies such as Amazon, Google, HP, Netflix, Procter and Gamble, and Capital One uses analytics as competitive strategy. Business Analytics helps companies to find the most profitable customer and allows them to justify their marketing effort, especially when faced with stiff competition. There is a significant evidence from the corporate world that analytical skills improve the ability to make better decisions.

Learning Outcomes

The course is designed to provide in-depth knowledge of handling data and Business Analytics’ tools that can be used for fact-based decision-making using real case studies from different sectors of the industry. Primary objectives of the course are as follows:

  • Understand the emergence of business analytics as a competitive strategy.
  • Learn to analyse data using statistical learning, artificial intelligence, and machine learning algorithms to enable data-driven decision making.
  • Learn data visualization and storytelling through data.
  • Learn descriptive, predictive, and prescriptive analytics techniques and tools.
  • Learn to analyse data using supervised and unsupervised machine learning algorithms.
  • Use analytics for customer requirement analysis, general management, manufacturing, marketing, finance, operations, and supply chain management.
  • Analyse and solve problems of different industries such as manufacturing, service, retail, software, banking and finance, sports, pharmaceutical, and aerospace.
  • Hands-on experience with software such as Microsoft Excel, Evolver, LINDO, SPSS, R, Python, and other proprietary software.

Who Should Apply

In October 2012, Harvard Business Review claimed that “Data Scientist” role will be the sexiest job of the 21st century. Anyone seeking “sexiest job” should attend this course. This short duration programme equips the participants with analytical tools and prepares them for corporate roles in analytics-based consulting in marketing, operations, supply chain management, finance, insurance, and general management in various industries. The course is suitable for those who are already working in analytics to enhance their knowledge and for those with analytical aptitude and would like to start new career in analytics.

 

Programme Director

U Dinesh Kumar is a Professor of Decision Sciences and chairperson of data centre and analytics lab (DCAL) at IIM Bangalore and holds a Ph.D. in Mathematics from IIT Bombay. Dr Dinesh Kumar introduced Business Analytics elective course in 2008 to the PGP students at IIM Bangalore and started one of the first certificate programmes in Business Analytics in India in 2010.

Dr Dinesh Kumar has over 20 years of teaching and research experience. Prior to joining IIM Bangalore, Dr Dinesh Kumar has worked at several reputed Institutes across the world including Stevens Institute of Technology, USA; University of Exeter, UK; University of Toronto, Canada; Federal Institute of Technology, Zurich, Switzerland; Queensland University of Technology, Australia; Australian National University, Australia and the Indian Institute of Management Calcutta.

Dr Dinesh Kumar has published more than 70 research articles in leading academic journals. Thirty-eight of his case studies on Business Analytics based on Indian and multinational organizations such as Aavin Milk Dairy, Apollo Hospitals, Bigbasket, Bollywood, Flipkart.com, Hewlett and Packard, ISKCON, Jayalaxmi Agro Tech, Larsen & Toubro, Manipal Hospitals, Mission Hospital, Hindustan Aeronautics Limited, Indian Premier League, Reliance Retail, Shubham Housing Finance Limited, VMWare have been published at the Harvard Business Publishing’s case portal. Twelve of his case studies are best sellers at the Harvard Business Publishing. His case studies are used by more than 350 Institutions across 75 countries across the world. He has authored 3 books, his recent book is titled, “Business Analytics – The Science of Data Driven Decision Making”, published by Wiley in 2021 which was an Amazon Best Seller.

Dr Dinesh Kumar has carried out predictive and prescriptive analytics consulting projects for organizations such as The Boston Consulting Group (India) Private Limited, Cavinkare, Hindustan Aeronautics Limited, Indian Army, Qatar Airways, Mission Hospital, Manipal Hospitals, Scalene Works, Wipro Limited, UNIBIC and the World Health Organization etc.

Dr Dinesh Kumar has conducted training program on Analytics for several companies’ companies such as Accenture, Aditya Birla Group, Ashok Leyland, Bank of America, Blue Ocean Market Intelligence, Cisco, Fidelity, Hindustan Aeronautics Limited, Honey Well, Infosys, ITC Info Tech, Ocwen financial Services and so on. Dr Dinesh Kumar conducts corporate training programme in Analytics and trained more than 1000 professionals in the field of analytics.

He is the founding president of the Analytics Society of India (ASI). Dr Dinesh Kumar was awarded the Best Young Teacher Award by the Association of Indian Management Institutions in 2003. He is listed as one of the top 10 analytics academics in India by the analytics India magazine. He is the governing council member of the Karnataka Government’s Centre of excellence for Data Science and Artificial Intelligence set up in Collaboration with NASSCOM.

Programme Charges

Programme Fee
INR 1,57,000/- Residential and INR 1,32,000/- Non -Residential (+ Applicable GST) per person for participants from India and its equivalent in US Dollars for participants from other countries.

Early Bird Discount
Nominations received with payments on or before 17-June-24 will be entitled to an early bird Discount of 10%.
Early Bird Fee (Residential) INR 1,41,300/-(+ Applicable GST)
Early Bird Fee (Non-Residential) INR 1,18,800/-(+ Applicable GST)

Group Discount
Group Discount of 5% percentage can be availed for a group of 3 or more participants when nominations received from the same organization.

Please Note

  • All enrolments are subject to review and approval by the programme director. Joining Instructions will be sent to the selected candidates 10 days prior the start of the programme.
  • The programme fee should be received by the Executive Education Office before the programme commencement date.
  • In case of cancellations, the fee will be refunded only if a request is received at least 15 days prior to the start of the programme.
  • If a nomination is not accepted,the fee will be refunded to the person/ organisation concerned.
  • A certificate of participation will be awarded to the participants by IIMB

Participant Benefits

As a participant of this Short Duration Programme, you will be able to enjoy some exclusive benefits other than the outcomes such as skills and knowledge enhancement and building specific competencies that can help shape your career growth.

Some of the exclusive benefits of attending this programme are listed below –

Receive Executive Education eNewsletters

Invitation to share articles to the EEP blog (subject to a shortlisting process)

Participate in EEP webinars on various topics

Invitation to curated events and programs by the EEP office

Certificate Sample

How To Apply for the Programme

Testimonials

  • The course was extremely valuable and a window opener for me toward the world of Data Analytics. Coming from a Business and operation background, the course gave an insight into the statistical methods, application of Data modeling concepts, and real-life case studies which I could relate to my field of work. Prof. Dinesh was extremely knowledgeable on the subject and guided the class phenomenally. The guest lecturers and industry interaction sessions are equally commendable. Being a 6-day session, it gave a glimpse of life at the IIMB campus. Overall, it was worth the time and effort.

    Rajith Shankar
    Working for Al Futtaim Finance PVJSC, in Dubai, UAE as a Business Manager
  • I enjoyed very good coverage of business analytics in a holistic way by experienced IIM Faculties, which helped me to understand the power of analytics applied to the business scenario to ensure strong decision-making based on data supporting organizational excellence. Examples and real-time scenarios shared between tutors and participants from various industries were so great to understand the power of analytics. The session focused on all types of analytics to derive clear decisions including big data management. I thoroughly enjoyed and gained knowledge on statistical applications to effectively handle data and use them for organizational excellence. The session supported to undertake of further sessions conducted by IIM that drill down to details of analytics. Overall it was worth traveling all over from Saudi Arabia to attend the session and sincere thanks to Prof. Dinesh Kumar for making the session lively and practical.

    Dr. Ganesh Shankar
    Management Systems Manager, Easternpak (INDEVCO), Dammam, Saudi Arabia

Top-notch faculty, contemporary content, a great learning environment, and application orientation make the IIMB Exec Ed programmes world-class.