Rady School Master of Science Business Analytics (MSBA) Program Overview
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The document discusses the growing importance of business analytics and data science in making informed business decisions, highlighted by the demand for skilled professionals in this field. It touches on the historical context of the ‘sexiest job’ labels applied to statisticians and data scientists, and the role of analytics in transforming vast amounts of data into actionable insights. Additionally, it mentions the Rady School's initiatives and resources for enhancing analytics education and research.
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What is Big Data?
“data that exceeds the processing capacity of conventional
database systems. The data is too big, moves too fast, or doesn’t
fit the strictures of your database architectures”
[Edd Dumbill]](https://image.slidesharecdn.com/msbawebinar-160122172247/85/Rady-School-Master-of-Science-Business-Analytics-MSBA-Program-Overview-26-320.jpg)
Rady School Master of Science Business Analytics (MSBA) Program Overview
- 1. Master of Science in Business Analytics Prof Vincent Nijs // Rady @ UCSD
- 2. 2 2 About me • Ph.D and MS marketing analyitcs • Research Area: Marketing Effectiveness • At UCSD since 2010 • Previously: Northwestern University (Kellogg School of Management)
- 3. 3 3 Students in Business Analytics classes
- 4. 4 4 Why the increased interest? 25 hottest skill on LinkedIn 1. Statistical analysis and data mining 5. SEO/SEM Marketing 6. Business Intelligence
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- 6. 6 Netflix Uses Pirate Sites to Determine What Shows to Buy This week Netflix rolled out its video streaming service in the Netherlands where it hopes to build a massive user base in the years to come. One of the keys to achieve this goal is getting the rights to the most popular movies and TV-shows, and this is where pirate sites come in. Netflix Vice President of Content Acquisition Kelly Merryman says that popularity on file-sharing platforms determines in part what TV-series the company buys. http://torrentfreak.com/netflix-uses-pirate-sites-to-determine-what-shows-to-buy-130914/ 6
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- 9. 9 Business Analytics – Past and Future 9 In 2009, Hal Varian, chief economist at Google, described statistician as the “sexy job in the next 10 years” (Lohr, 2009). Yet by 2012, the Harvard Business Review used similar logic to declare data scientist as the “sexiest job of the 21st century” (Davenport and Patil, 2012). Speaking at the 2013 Joint Statistical Meetings, Nate Silver—as always— helped us to unravel what had happened. He noted that “data scientist is just a sexed up term for a statistician”.
- 10. 10 10 Brandon Harris So ... companies should hire lots of statisticians?
- 11. 11 11 Business Analytics (Data science for Business)
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- 13. 14 1414 How to get into Business Analytics?
- 14. 15 Learning-by-doing “It is kind of hard being the exalted leader in your first day on the job.” Prof. Florian Zettelmeyer Kellogg School of Management Northwestern University 15
- 15. 16 1616 Business Analytics at Rady (MSBA 2016) Successful businesses use data and models to make better business decisions and gain competitive advantage. Vast amounts of data on customers, suppliers, operations, and financial transactions are collected from a variety of sources, often managed in diverse systems, by multiple stakeholders. Transforming this data into business insights that can enhance decision-making is a key strategic challenge for businesses of every size, across all industries. Companies are looking for skilled professionals who can work effectively in teams to frame key operational and strategic business questions and use data and analytics to find the answers. [email protected]
- 16. 17 1717 Business Analytics at Rady (CBA) The Center for Business Analytics serves as a catalyst for research, education, and innovation in the use of analytics and "big data" for data-driven decision-making. http://rady.ucsd.edu/analytics/
- 17. Tools for Business Analytics Prof Vincent Nijs // Rady @ UCSD
- 18. 19 19 What about a spreadsheet? (e.g., Excel)
- 19. 21 21 Is Stata any better?
- 21. 23 23 R for Business Analytics
- 22. 24 24 Popularity of R Source: Rexer Analytics Data Miner Survey 2013 https://www.kaggle.com/
- 23. 25 25 Popularity of R R Foundation: RStudio, Microsoft, TIBCO, Google, Oracle, HP and others http://blog.revolutionanalytics.com/2015/06/r-at-microsoft.html
- 24. 26 26 Documentation: http://vnijs.github.io/radiant/ Giving managers access to the power of R … Code: https://github.com/vnijs/radiant
- 25. Big Data Prof Vincent Nijs // Rady @ UCSD
- 26. 28 What is Big Data? “data that exceeds the processing capacity of conventional database systems. The data is too big, moves too fast, or doesn’t fit the strictures of your database architectures” [Edd Dumbill]
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- 30. Predictive Models Prof Vincent Nijs // Rady @ UCSD
- 31. Do Trade Promotions Work? $ off $ off ? $ off ? Manufacturer End User/Consumer Retailer Distributor/Wholesaler *Based on “Channel Pass-Through of Trade Promotions”, Marketing Science, 2010 33
- 32. Manufacturer Wholesaler Retailer Consumer One major product category Many sub-categories 250 products 30 states 1 Manufacturer (many brands) 100+ Wholesalers 1000+ retail stores Data 34
- 33. What does Pass-through look like? 35
- 34. Incremental retailer profits from trade promotions – Inclusive 36
- 35. Incremental manufacturer profits from trade promotions – Inclusive 37
- 36. Incremental manufacturer profits from trade promotions – Selective 38
- 37. • A large proportion of trade promotions does not reach the consumer • On average, a 10% promotion from the manufacturer results in a 4.1% promotion for the consumer • Up to 56% of trade promotions may be unprofitable • Recommendation: Offer trade promotions when demand is elastic and channel members cooperate (i.e., pass-through) Are trade promotions an effective tool to influence retail prices? 39