Data Analytics in Today’s Business Environment
Data analytics is fast becoming a major driver in business decision making. More than ever before, organizations are able to collect massive amounts of data in their routine operating environments, whether it is telematics for automobile insurance, or point of sale information on financial transactions. From customer purchase and feedback in e-commerce to supply chain tracking and logistics, very aspect of commerce brings a plethora of data.
The key is to intelligently analyze the data and draw decision-making inferences. Consider telematics sensors in automobiles, which can collect data on location, speed, and other characteristics by the second if needed. It is not clear whether that level of granularity has or would improve premium setting decisions for insurance. Improved analytics is a critical capability for competitiveness in today’s businesses. It is therefore essential to promote thought leadership in business analytics.
The mission of the Center for the Advancement of Business Analytics (CABA) is to be New England’s leading resource for business analytics and data science, helping partner organizations develop and enhance their analytics capabilities. Our goals include becoming
~ an outlet for faculty engagement through research projects, business interactions/projects;
~ a channel for knowledge dissemination by offering workshops, conferences, certifications, short courses;
~ a focal point for community services by providing a repository of data, thought leadership, newsletters;
~ a conduit for student engagement promoting projects, experiential learning, capstone, internships.