How Big Data Is Transforming Decision-Making in Today’s Organizations
The amount of data generated in organizations and businesses has been exploding at an exponential rate for quite some time. Business analytics has emerged as an important phenomenon aimed at harnessing this data and is expected to transform decision making in organizations. Almost all sectors of the economy are undergoing significant change because of this data-driven approach to decision making.
On April 26, the Lally School of Management and Technology hosted a panel program titled “Industry Transformation Through Big Data and Business Analytics.”
The panel was moderated by T. (Ravi) Ravichandran, associate dean for research and professor of information systems in the Lally School. Panelists included Brenda Dietrich, IBM fellow and vice president; William Kelly ’82, president, Treo Solutions; Greg Moran, president and CEO, Chequed.com; and Inder Thukral, Ph.D. ’95, CEO, Boston Analytics.
While the buzz around analytics is undoubtedly high, the Lally School acknowledged that there are also questions about how to combine analytics with existing business processes and with the traditional “trust-your-gut” type of decision making.
Panelists discussed a range of issues associated with the emerging field of business analytics, addressed how some industries are being transformed through analytics; and shared some examples related to how organizations are creating value through business analytics and the challenges they face.
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