Making,sense,big,data,Students education Making sense of big data
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Students have had their strategic management skills put to the test in an innovative challenge to devise novel ways to exploit the swelling streams of data generated within their companies known as big data. The challenge is part of London Business Schools ExecutiveMBA and Global Executive MBA programmes curriculum, and takes place in London,Dubai, and New York (in partnership with Columbia Business School). The Londonleg of the challenge was held at London Business School on 23 March.Students drew from their experience in industry to considerhow data generated across operations, customer interactions and sales,technology and scientific development could be harnessed and exploited inspecific data projects.Kevin Boudreau, Assistant Professor of Strategy andEntrepreneurship at London Business School, who is responsible for teaching thecourse and organising the sessions, explains: Big data has the potential toradically alter the ways business is done. It is an opportunity that could beas big as the internet itself. In every industry and in every transaction, wecollect much more data than we used to. But the opportunity is no longer aboutcollecting the data; its about using these technologies to innovate the way acompany carries out its business and solves important problems for itscustomers.In addition to exchanging ideas with classmates from diverseindustries and countries around the world, the students presented theirprojects to an expert panel comprising a mix of senior business leaders anddata and analytics experts.Rhian Woods, CEO, M&C Saatchi MILK and panel expert,says: The ability to understand and interpret big data will becrucial to career success, particularly in marketing, where the pressure is onto connect the two worlds of commercial intelligence and customer insight,ensuring that business goals and customer objectives are working hand in hand.London Business Schools innovative challenge is a greatway to prepare students for the realities of thinking laterally about big dataand beyond the science. This is about having an understanding of analyticaltechniques along with the ability to plan conceptually, to interpret the codefor the bigger pictures you can draw from itThe combination of presenting projects, subsequentdiscussion with panellists and the dozens of executive students in the class,is designed to enable learning in tangible areas in which these technologiescan be concretely deployed immediately.Ragu Bharadwaj, Chief Operating Officer, Babbage Analytics& Innovation, said: I was heartened to find that this new generation ofmanagers is going to be up to the problem.Dr Boudreau concludes: Managing the disruption choosingwhether to invest and how will be one of the major challenges facing thisgeneration of managers. Big data has the potential to change the way companiescompete and to affect competitive advantage. Bringing big data into the corecurriculum keeps our students ahead of this curve. Panel participants included: Francine Bennett, CEO, Mastadon C Dr Ragu Bharadwaj, COO, Babbage Analytics & Innovation Ray Eitel-Porter, Head of Analytics UK & Ireland, Accenture Madhuban Kumar CEO, !80kb Limited Heather Savory, Independent Chair for the Open Data User Group, UK Government Simon Schneider Head of Europe, Innocentive Rhian Woods CEO, M&C Saatchi MILK
Making,sense,big,data,Students