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Fundamentals of Business Analytics

The College of Information technology and Engineering Faculty attended a training on MODULE I “Business Analytics” last November 23-27, 2016, at Notre Dame of Marbel University, Bro. Renato Cruz Hall in partnership with the Commission on Higher Education (CHED).

The training was part of the CHED Faculty Development Program which aimed to enable faculty members to teach undergraduate and graduate courses in Analytics for Information Technology programs with specialization track in Business Analytics as provided for in the CHED Memorandum Order No.12, Series of 2013.

The training start with the concept of analytics from descriptive, predictive and prescriptive. The business reasons behind undertaking an analytics initiative are outlined. What challenges business users face today, what are the trends in analytics, and what factors are important to put analytics in practice are explained.

We have a two (2) days session for the Descriptive Analysis. On day 1, the speaker/facilitator discuss with an overview of Business Analytics, the importance of Business Analytics. It is emphasize that in Descriptive Analysis you must know “What has happened” and “What the user need to do, know, answer”. We identify or formulate variables, plotting the variables with price and quantity or volume, and perform a data analysis of the given case study analysis. The output of the case is presented for feedback. On day 2, the same topic but different case study “The first Tennessee bank” analysis and it is presented for feedback.

 

On day 3, the Prescriptive Analytics is presented, MS Excel application analysis tool pack and solver add-in is used for data analysis and data regression. Another case study “Cincinnati zoo” and “Globe telecom” is used for plotting and using two variables coming from the group output in Descriptive Analytics.

On day 4, the Predictive Analysis is presented, with the case study “The first Tennessee bank” and “Globe telecom”. We use three (3) variables for predictive analysis and three (3) constraints in prescriptive analysis. Plot the same variable price and quantity/volume to perform a predictive and prescriptive analysis.

On day 5, “Globe telecom” case is used to analyze four (4) variables for predictive and four (4) constraints for prescriptive. This 5 day training is an activity full of learning and discovery of new ideas that will equip IT educators to promote quality IT education.

The training successfully provide us (1) the deep knowledge of the literature and development in a specific area within the Analytics domain in order to appropriate methodological tools in business analytics, (2) prepare us to teach business analytics at the undergraduate levels, (3) prepare us with the basic business knowledge and important qualities and skill for business and organization success in the industry.

All outputs of the group from day one (1) to day five (5) are submitted online. The training ends with giving of certificates.

 

Prepared by:

Michaelangelo R. Serrano,MIM

 

Rhino D. Cartagena, MIT

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