How To Become An Analytics Consultant

Transcription

1 Leading Business with Data MA Nang Laik Assistant Professor of Information Systems (Practice) Programme Director, MITB (Analytics) 1

2 Outline 1. Big Data Revolution 2. Why Master of IT in Business (Analytics)? 2

3 What is Analytics? Analytics is the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions. ~ Thomas H. Davenport Competing on Analytics: The New Science of Winning 3

4 Who uses analytics and for what Retail Financial Services Healthcare Hospitality Telco Airline 4

5 Word Cloud for Analytics 5

6 Big Data Revolution Massive data from websites, call centers, operations, computerised point-of-sales (POS), smartphone, etc Social media such as Twitter & Facebook has provided new channels for data collection Technological advancements have enabled data collection and storage easily. As a result, we have moved to the age of BIG DATA 10/28/2013 6

7 The Next Big Thing Big Data and Analytics would be the next big thing in Business for the next ten years. It would revolutionise business and its functions. Any institutions who start working on using Big Data, can achieve significant competitive advantage. Thomas.H.Davenport President s Distinguished Professor in Information Technology and Management at Babson College, Director of Research at the International Institute for Analytics, Senior Advisor, Deloitte Analytics 10/28/2013 7

8 BIG DATA The next frontier for innovation, competition, and productivity Be an analytics professional building competitive strategies.

9 What are the Challenges? 60% of staffs from large firms lack skills and knowhow s to make effective decisions (Corp Exec Bd 2011) U.S. needs 140,000 to 190,000 deep Data Analysts (McKinsey Global Institute 2011) Top Big data investment targets : security, CRM, finance, ERP, mobility (CIO Insight 2011)

10 Analytics Professionals The Sexiest Job! Data Scientist: The Sexiest Job of the 21 st Century The shortage of Data Scientist is becoming a serious constraints in some sectors. 10

11 Demand for Analytics Professionals Infocomm Development Authority of Singapore (IDA) has identified Data & Analytics as a key driver for Singapore s Economy. IDA launched initiatives to encourage companies to adopt Analytics and provide grants to groom local pool of Analytics Talents. 10/28/

12 Demand for Analytics Professionals In Budget 2013, the Government said it wants to develop a pool of 2,500 analytics professionals over the next five years. According to Deloitte, big data is US$1 trillion industry. Source : 10/28/

13 Career as an Analytics Professional Job Roles Organisation Data Analytics Lead Consultancy Firm Data Analytics Business Analyst Insurance Data and Analytics Manager Gaming Company Digital Marketing Data Analytics Digital Advertising Agency Senior/Lead Analyst (Analytics) Public Service Senior Consultant (Health Analytics) Healthcare Senior Vice President (Customer Analytics) Bank Manager, (Media Analytics) Marketing consulting company Manager, Supply Chain Analytics Logistics company Team Lead, Consumer Credit Risk Bank Team Lead, Operational Risk Financial Institute Online Marketing Campaign Manager Internet/Search Engine Company Senior Manager (Analytics Consulting) Software Solutions Firm 10/28/

14 Salary Guide - US Source: 10/28/

15 Salary Guide - Globally Source: 10/28/

16 Salary Guide - Singapore Job Role Annual Salary Range (SGD 000) Data Architect Database Administrator Data Modeller Data Warehouse Consultant Data Analyst Business/Process Analyst Source: Hays Salary Guide /28/

17 Outline 1. Big Data Revolution 2. Why Master of IT in Business (Analytics)? 10/28/

18 MITB (Analytics) at a glance MITB programme started in 2007 with Financial Services track Analytics track launched in Jan 2011 Jan 2014 : Fifth intake Integrates IT, Business and Data Analysis skills First Master Degree in Asia to focus on Business Analytics Strong partnership with leading industry practitioners. 10/28/

19 Board of Advisors

20 Industry Collaboration and Partnership 20

21 What our industry partners say Data Analytics is the next big thing in business. Data can be a lazy asset and is often undervalued finding ways to help business organise and better understand all of the data they capture, will help them make better business decisions, reduce risks and improve returns. There are oceans of data being amassed by companies but only islands of insights. Data can give clients best practice and benchmarking information, as well as providing predictions for business trends. A lot of corporations have well organised data repositories, and some have an analytics capability, but few have the capability and bandwidth to combine both and apply it to specific business issues. SMU s new programme will develop professionals who will truly be part of the next big thing in business. Tim PHILLIPPS Global Leader Deloitte Analytics Executive Sponsor Deloitte Analytics Institute Asia 21

22 The Curriculum in a Nutshell 10/28/

23 World Class Faculty Bridging Academic & Industry Our faculty have many years of industry experience. 10/28/

24 Student Demographics (Intake Aug 2013)

25 Where are our graduates now? Our graduates have found Analytics jobs within a few months upon graduation Companies : Maxus Global, Google, Facebook, Fractal Analytics, Tata Consultancy Services, Apple, Deloitte. 25

26 Cally Ong MITB (Analytics), AY2011 Intake Business Analyst, Fossil Singapore Pte Ltd Recipient of SAS Scholarship, 2012 The programme provides an opportunity for students to work on critical business issues. As a business analyst in the retail industry, this programme has provided me with the exposure and relevant knowledge to pursue my long-term career in this area. 26

27 Why they choose MITB (Analytics) Business analytics will be a growing field in the coming years, since most companies do not exhaust all possibilities. Since SMU is the first university in Asia which offers a Master's degree programme that addresses this topic, I am sure that I will receive a high quality education. Additionally, SMU's focus on leadership and communication skills as well as the clash of different cultures in Singapore, and especially on the campus, led to my decision to join MITB. Lukas Valentin WELLINGER MITB (Analytics), AY2012 intake Intern at IBM 27

28 Example of Capstone project Problem description: SMS appointment reminders High volume of no shows, as patients contacted via SMS do not turn up for their scheduled appointments No shows have a high impact on longer appointment lead time for others poor patient satisfaction loss of revenue for hospital 28

29 Objective: Identify any pattern of no shows from current data Develop a statistical model to predict the probability of no shows Suggest strategies for possible reduction of no shows. 29

30 Scope of Work To provide the staff an easy way of visualizing and interacting with the data and thereby assist in the decision making process Phase 1: Dashboard Who are likely to miss their appointments & what is their profile? To predict which kind of appointments will have higher probability of no show Phase 2: Predictive Modeling

31 Dashboard view of no show profile

32 Dashboard view of visit status across functional areas

33 Analytics Methodologies Bivariate Analysis Categorical Response Analysis Logistic Regression Decision Tree 6 Months Data (Sept Feb 2012) Training & Test Data (Sept Feb 2012) Validation Data (Jan Feb 2012) Logistic Regression Decision Tree Compare Models Decision Tree No Show Probabilities

34 Examples of Capstone Projects Industry Market Research Description Using online Twitter data to analyze and improve on Credit Card offerings. Theme Park Using past data to devise statistical model to predict the sequence of visiting the different parts of the theme park by different visitor segments. Foreign Bank Using fuzzy logic to recommend the next call marketing action. (i.e. when to make the next call) Software Vendor Sea Port Operator Understanding Brand Reputation through Twitter Data. Using past data to optimize Ship Berths allocations. 34

35 Course Structure and Administrative Matters 10/28/

36 Master of IT in Business Programme (MITB) Courses A. Banking Technology & Operations B. Analytics Technology & Applications C. Information Technology Management D. General Management for Technology & Operations A.1 Banking Products & Processes A.2 Retail Banking Technology & Operations A.3 Corporate Banking Technology & Operations A.4 Financial Markets Technology & Operations A.5 Trading Technology & Operations A.6 Payment Technology & Operations A.7 Assets Management Technology & Operations A.8 Lifecycle Implementation of Banking Products A.9 FS Operational Risk I: Foundation & Framework A.10 FS Operational Risk II: Technology, & Systems B.1 Analytics Framework & Business Context B.2 Data Analytics Lab B.3 Customer Analytics & Applications B.4 Operations Analytics & Applications B.5 Cloud and Big Data Analytics B.6 Visual Analytics & Applications B.7 Text Analytics & Applications B.8 Social Analytics & Applications B.9 Mobile Analytics & Applications B.10 Business Analytics Practicum C.1* Innovation Management C.2 Spreadsheet Modeling for Technology & Operations Decisions C.3 IT Project & Vendor Management C.4 Global Sourcing of Technology & Processes * 0.5 course unit E. Capstone Project 2.0 course units D.1A* Financial Accounting for Financial Services D.1B* Financial Accounting for Service Sector Analytics D.1C* Management Accounting for T&O Managers D.2 Strategy & Organisation D.3 Finance for T&O Managers D.4* HRM for Technology & Operations Managers Bold = Offered from Jan 2015 onwards 10/28/

37 Financial Services Track Available courses Course Requirement TOTAL = 13 course units 37

38 Analytics Track Available courses Course Requirement TOTAL = 13 course units 38

39 Capstone Project and Job Attachments Sponsoring company sourced by SMU; or student-proposed companies Full-time students : Capstone Project with job attachment (duration : 6 months) Part-time : work on project offline

40 Academic Calendar You will join us here Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Term 2A (7 weeks) Term 2B (7 weeks) Term 3A (7 weeks) Term 3B (7 weeks) Term 1A (7 weeks) Term 1B (7 weeks) 40

41 41 Course Structure Type Course Units Total no. of lessons Lesson frequency Course duration Once a week 7 weeks Twice a week 7 weeks Once a week 15 weeks Each lesson is 3.5 hours Weeknights 7pm to 10.30pm Saturday AM 9am to 12.30pm Saturday PM 2pm to 5.30pm Monthly Seminars Weeknights 7pm to 9pm

42 Typical Full-time Study Load 2014 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Term 2A (7 weeks) Term 2B (7 weeks) Term 3A (7 weeks) Term 3B (7 weeks) Term 1A (7 weeks) Term 1B (7 weeks) 2 CU 2 CU 2 CU 2 CU 2 CU 1 CU Capstone Project (2 CU) Maximum Candidature : 2 yr 8 mth 42

43 Typical Part-time Study Load 1 st year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Term 2A (7 weeks) Term 2B (7 weeks) Term 3A (7 weeks) Term 3B (7 weeks) Term 1A (7 weeks) Term 1B (7 weeks) 1 CU 1 CU 1 CU 1 CU 1 CU 1 CU 2 nd year Maximum Candidature : 4 yr Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Term 2A (7 weeks) Term 2B (7 weeks) Term 3A (7 weeks) Term 3B (7 weeks) Term 1A (7 weeks) Term 1B (7 weeks) 1 CU 1 CU 1 CU 1 CU 1 CU Capstone Project (2 CU) 43

44 MITB the options MITB Financial Services General Track Analytics Dual Track 44

45 Professional Development Series Develop students into the business, community and government leaders of the future. 3 pre-scheduled Saturdays, comprises of seminars, workshops, competitions, excursions and social activities. Expand network by interacting with students from different SMU postgraduate programmes. A graduation requirement 10/28/

46 Career Services Career Counseling Workshops Career Events Corporate Outreach Career Resources

47 Scholarships - for Singaporeans Scholarship Funding Track MAS Finance Scholarship Program (FSP) Up to 70% FS only WDA ICT-STEP Scholarship Up to 90% of tuition fees (non-gst portion) FS & AT 10/28/

48 Scholarships Singaporean & Foreigners Scholarship Amount Track SAS Scholarship $7,500 FS & AT MITB Scholarship $5,000 - $7,500 FS & AT TCS-SMU icity $10,000 AT Alexandra Health s T-Lab Eastern Health Alliance $7,500 $7,500 AT AT DHL-SMU Green Transformation Lab $7,500 AT 10/28/

49 49 Admission Matters Admission Criteria A good Bachelor s Degree 1 to 2 years of work experience is preferred. 2 referees GMAT Admission interviews will be conducted for short-listed candidates Programme fees: S$42,000 inclusive of GST Payable over three installments $2,000 discount if paid in full upfront SMU alumni and fast-track students 10% off Dual Track : Additional fees of S$23,000

50 Application Process Apply online at smu.edu.sg/mitb Usually, you will hear from us within a week working days after online submission Admission interview in 1 ~ 2 week s time. Application outcome typically within 3 working days after the admission interview You can apply first while waiting to do your GMAT test. Get conditional admission, while pending GMAT score submission. 10/28/

51 Join us now!