What Is Business Analytics?

What is Business Analytics? J. Michael Hardin presentation at SAS Global Forum 2013

J. Michael Hardin has a doctoral degree. He is the dean of Culverhouse College of Commerce in the University of Alabama. His topic is about business analytics.

He explained that business analytics has become the hot, “sexy” job of the new century. The demand for individuals with skills and expertise in the field are in great demand, as evidenced by feature articles appearing in such publications as The New York Times, The Harvard Business Review and The Wall Street Journal. However, the area has not always been so well received, especially within some academic areas. And, even today there still remains confusion and disagreement over the implementation and interpretation of results obtained from the analytic process. In his presentation, he will examine the history, development and, particularly, the philosophy underlying the analytic process. Theories to understanding and interpreting the analysis process and the associated results will be explained. Additionally, suggestions on presenting and explaining results within a consistent philosophy will be offered. The presentation will conclude with thoughts and speculations on the future of analytics.

He explain the current trend in business analytics in 2013, the big data, contemporary empiricism and normative finance, data mining, philosophy, statistics, Ptolematic system, the Copernican system, etc. He also explain about the conflicts between Data Mining techniques and traditional Econometrics. In conclusions, he said “the goals of the business analyst may be (and often are) much different from that of the economics (or other) researcher. An instrumentalist view seems permissible, if not desirable, for ‘fast paced’ decision making in business.”

Source:

http://support.sas.com/events/sasglobalforum/2013/featured.html