VESIM is introducing a two year full time Post Graduate Diploma in Management (PGDM) in Business Analytics in collaboration with SAS, a company well known for its Business Analytics software.
The capability of Big data analytics has moved from being a competitive advantage to a strategic imperative. Many business, social and government organizations across the world have accepted the fact that deriving value from data is no longer a competitive advantage but it has become a competitive necessity. One will not be surprised to know that commercial organizations are using big data and big data analytics to create a competitive edge over their rivals. But what is striking is the social and the government organizations are using analytical techniques to optimize the use of the limited resources they possess and deliver effective social services. Here are few illustrations of effective use of business analytics tools by these organizations.
i. New Zealand's Ministry of Social Development (M.S.D.) uses big data analytics to profoundly improve the lives of the citizens. MSD is using the SAS platform to ensure optimum use of resources to deliver social service to its citizens.
ii. The Danish National Police are on a long journey of change. Like many countries, the crimes and threats that Danish police face are increasing at an alarming speed. The police are expected to do more with the limited resources, cut down costs and improves its operational efficiencies, optimize resource allocation and drive strategic decision making. The department is developing a culture to use analytics tools to ensure the smooth operations at low costs.
iii. The typhoon "Haiyan" devastated the lives of many Philippines citizens, analytics help aid the workers priorities assistance levels and supply distribution.
iv. The emergence of data driven healthcare services has presented tremendous opportunities like reducing healthcare costs and improving the quality of services.
There is an increasing demand for Business Analytics, but on the other side the companies face problems of hiring the right talent due to shortage. There is an increasing demand for graduates/post graduates who have learned the analytical approach to decision making. To bridge this gap, VESIM is introducing a two year full time Post Graduate Diploma in Management (PGDM) in Business Analytics in collaboration with SAS, a company well known for its Business Analytics software. At VESIM, we realize that the need of the time is to develop business professionals to manage complex business analytics ecosystems. The new breed of professionals will enter the workforce with an understanding of how to leverage data to inform decisions and drive organizational innovation.
At VESIM, we are exploring innovative ways to align more with the industry needs and look at how students can be primed for not only today's business but also for future work practices.
In my previous assignment as a Director of management institutes, I had the opportunity to meet several HR managers, consultants and employers who insisted on hiring management graduates equipped with "thinking tools". They want students to learn how to gain competitive advantage, not only by solving current problems and finding answers to the existing questions but also using data and analytics to deal with complex problems in a holistic way.
The Business Analytics Program of VESIM is aimed to support the development of "boundary spanning" professionals which involves effective connections and value networks within and outside organization. I will not be surprised if Business Analytics emerges as a major specialization in management institutes of our country in the time to come.
Dr. Sachin Deshmukh
Professor & Chairperson
Business Analytics, Operations & Business Environment
Vivekanand Education Society Institute of Management Studies & Research