Give us a call 1.800.948.8548
Fundamentals of Business Analytics
Build a robust familiarity with practical business analytics and learn to apply analytics to benefit your team or organization.
Program Overview
The potential value of analytics in decision-making is widely recognized. Businesses invest in gathering information and storing data on a wide array of processes and transactions. Despite the availability of data, many organizations have difficulty generating actionable insights. Using data effectively requires two key capabilities. First, managers need to understand – what analytics can and cannot do when making important decisions. Second, to generate effective actions, managers must have the skills to interpret the results of data analytics correctly.
Fundamentals of Business Analytics is designed to give a comprehensive overview of practical analytics. You'll learn when to use what tools, and how to apply different types of analysis. Participants take a guided look at successful data-driven organizations, drawing best practices and learning how to leverage data and emerging technologies for sustainable success.
What You Learn
Build the essentials of analytics
- Gain a foundational understanding of analytics and learn different modelling techniques.
- Learn to formulate a business problem so that models can be used to generate solutions.
- Build confidence in asking and answering business questions with a data-driven approach.
- Become familiar with machine learning, artificial intelligence, and other applied uses of analytics with big data.
Generate and communicate insights
- Understanding data-generated reports and calling “bullshit!”
- Practice understanding and using data visualizations.
- Translate data-lingo to business fundamentals.
- Leverage simulation-based forecasting.
Leverage predictive and prescriptive analytics
- Understand the difference between descriptive and predictive analytics – and why it matters for decision-making.
- Forecast outcomes based on modelling.
- Build a foundation of decision support tools.
- Explore optimization-based analytical tools to enable operational decisions.
Connect analytics to leadership
- Assemble and lead your Analytics team.
- Promote a data-driven culture and dispel 'dataphobia.'
- Avoid the Pitfalls of Analytical Bias and Anchoring.
- Track the progress and impact of Analytics in your organization.
How You Learn
The Ivey Academy Team Programs are designed to be delivered exclusively within one team, area group, or organization. By learning together and exploring cases as a group, you'll forge lasting relationships between colleagues and find creative ways to apply learning to your real-world business context.
Learn more about the Ivey Experience
Expert Faculty Led Sessions
Ivey Case Method
Peer Learning Teams
Simulations And Role Play
Online Learning Activities
Related Articles
Using analytics to improve decision-making
Analytics professors Fredrik Odegaard and Mehmet A. Begen share examples of organizations that have successfully used analytics to identify business improvement opportunities, explain how to begin solving business problems using analytics, and discuss how to make decisions under uncertainty (such as the pandemic).
The three phases of business analytics
Business analytics is the process of examining large and varied data sets – generally referred to as "big data" – to uncover useful insights in order to help organizations make well-informed business decisions.
Accelerating digital transformation
A panel of digital transformation experts discussed the acceleration of digitization efforts and what leaders should be aware of during this time of transition.
