Leading Business with Data MA Nang Laik Assistant Professor of Information Systems (Practice) Programme Director, MITB (Analytics) 1
Outline 1. Big Data Revolution 2. Why Master of IT in Business (Analytics)? 2
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
Who uses analytics and for what Retail Financial Services Healthcare Hospitality Telco Airline 4
Word Cloud for Analytics 5
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
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
BIG DATA The next frontier for innovation, competition, and productivity Be an analytics professional building competitive strategies.
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)
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
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. 10/28/2013 11
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 : http://www.asiaone.com/news/asiaone%2bnews/business/story/a1story20130321-410189.html 10/28/2013 12
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 10/28/2013 13
Salary Guide - US Source: http://www.analyticbridge.com/group/salary-trends-and-reports/forum/topics/how-much-does-a-data-scientist-make-at-facebook 10/28/2013 14
Salary Guide - Globally Source: http://www.analyticbridge.com/group/salary-trends-and-reports/forum/topics/kdnuggets-salary-survey-for-data-miners-data-scientists 10/28/2013 15
Salary Guide - Singapore Job Role Annual Salary Range (SGD 000) Data Architect 95 160 Database Administrator 80 150 Data Modeller 110 180 Data Warehouse Consultant 90-170 Data Analyst 80 140 Business/Process Analyst 110 150 Source: Hays Salary Guide 2013 10/28/2013 16
Outline 1. Big Data Revolution 2. Why Master of IT in Business (Analytics)? 10/28/2013 17
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. 10/28/2013 18
Board of Advisors
Industry Collaboration and Partnership 20
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
The Curriculum in a Nutshell 10/28/2013 22
World Class Faculty Bridging Academic & Industry Our faculty have many years of industry experience. 10/28/2013 23
Student Demographics (Intake Aug 2013)
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
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
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
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
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
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
Dashboard view of no show profile
Dashboard view of visit status across functional areas
Analytics Methodologies Bivariate Analysis Categorical Response Analysis Logistic Regression Decision Tree 6 Months Data (Sept 2011- Feb 2012) Training & Test Data (Sept 2011- Feb 2012) Validation Data (Jan 2012- Feb 2012) Logistic Regression Decision Tree Compare Models Decision Tree No Show Probabilities
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
Course Structure and Administrative Matters 10/28/2013 35
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 10/28/2013 36
Financial Services Track Available courses Course Requirement TOTAL = 13 course units 37
Analytics Track Available courses Course Requirement TOTAL = 13 course units 38
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
Academic Calendar You will join us here. 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) 40
41 Course Structure Type Course Units Total no. of lessons Lesson frequency Course duration 1 0.5 7 Once a week 7 weeks 2 1.0 14 Twice a week 7 weeks 3 1.0 14 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
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
Typical Part-time Study Load 1 st year - 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) 1 CU 1 CU 1 CU 1 CU 1 CU 1 CU 2 nd year - 2015 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
MITB the options MITB Financial Services General Track Analytics Dual Track 44
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 10/28/2013 45
Career Services Career Counseling Workshops Career Events Corporate Outreach Career Resources
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 10/28/2013 47
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 10/28/2013 48
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
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. 10/28/2013 50
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