Introduction to Business Data Analytics, the 7th Online Joint Class Telkom University & MMU
Introduction to Business Data Analytics, the 7th Online Joint Class Telkom University & MMU. Telkom University started this September by holding the 7th Online Joint Class with Multimedia University Malaysia. A number of students from both Telkom University and Multimedia University Malaysia participated in today’s class with s. Dr. Rathimala Kannan, a senior lecturer of Multimedia University Malaysia and Tri Widarmanti, S.Mb., MM., a lecturer of Telkom University. The class was divided into two session online lectures. Ms. Tri got the first session to deliver the material covering business data analytics, big data (source & value), data analytics and the benefits, data engineer vs. data analytics vs. data scientist, and data analytics platform.
According to Ms. Tri explanation, from a data we can do analytics data by collecting, storing, processing, analyzing and finding pattern to find out the information or value which will be benefit to market, brand, customer, and of course to the company itself. Dimitris Bertsimas argued that analytics is the science of using data to build models that lead to better decision that in turn add value to individual, company, and institutions. Whether we realize it or not, it turns out that we create a huge amount of data every day. For example, when we use social media we left the record of data digitally, and it turns out our society leaves massive digital footprint and of course those data can be analyzed based on certain criteria.
For some people data is like an abstract, but with data analytic we can transform the abstract one into useful information. Based on Gartner, 2012, big data is a high-volume, high-velocity and/or high-variety information assets that demand cost-effective, innovative forms of information processing that enable enhanced insight, decision making, and process automation. According to Jason McNellis, 2019, there are 4 categories of analytics that can create business value opportunities:
Business data analytics enables a company to understand the customer, predict the behavior, target customers, explore trends, and monitor social media.
Dr Rathimala, in the second session, had a chance to share about retail analytics, application of retail analytics, and impacts and challenges. Almost all retail industries offer membership card. Apart from wanting to be closer to and retain customers, with a membership card, companies can analyze customer behavior in shopping activity to see their pattern so that companies can give personalized product recommendation to the customers, can make best product placement/shelves arrangement, can up-sell, cross-sell & bundling product, and make a customer retention. At a discussion session, participants were actively involved by asking questions to the speakers. That was such a great discussion. Can’t wait to have next online joint class tomorrow. See you.(IO)***