Busi­ness an­a­lyt­ics at Uni­razak

New Straits Times - - Entertainment -

ARE Data An­a­lyt­ics and Data Science the same? Why is busi­ness an­a­lyt­ics in trend now? Univer­siti Tun Abdul Razak (Uni­Razak) Grad­u­ate School of Busi­ness dean As­sis­tant Pro­fes­sor Dr Jo­hari Mat said these ques­tions al­ways com­pli­cate gov­ern­ment agen­cies, pol­icy mak­ers and ed­u­ca­tors in un­der­stand­ing how busi­ness an­a­lyt­ics drives dig­i­tal data pol­icy and de­sign­ing ed­u­ca­tional pro­grammes to meet the cur­rent mar­ket de­mand for busi­ness an­a­lyt­ics tal­ents.

He said the as­sump­tion of data an­a­lyt­ics and data science be­ing the same is ar­bi­trary. Data an­a­lyt­ics in­volves busi­ness process anal­y­sis and Data De­sign, Busi­ness In­tel­li­gence and Data Ware­hous­ing; as well as Man­age­rial De­ci­sion Mod­el­ling as it is skewed to busi­ness “lan­guage”.

“Whereas, data science fo­cuses on Data Min­ing and Ma­chine Learn­ing, Pro­gram­ming for an­a­lyt­ics and Sta­tis­ti­cal pro­gram­ming; and it is skewed to com­puter ‘lan­guage’,” he said.

Although both ar­eas in­volve data “busi­ness”, the func­tion­al­ity is to­tally dif­fer­ent.

How­ever, both are equally im­por­tant in plan­ning, de­vel­op­ing and strength­en­ing the busi­ness an­a­lyt­ics field in Malaysia. These ar­eas com­ple­ment each other.

Jo­hari said busi­ness an­a­lyt­ics con­sists of four ma­jor ar­eas, which are Mar­ket­ing An­a­lyt­ics (MA), Peo­ple An­a­lyt­ics (PA), Fi­nan­cial and Ac­count­ing An­a­lyt­ics (FAA); and Op­er­a­tions An­a­lyt­ics (OA).

“A busi­ness an­a­lyst uses data an­a­lyt­ics for busi­ness or com­mer­cial de­ci­sions and data science for frame­work, data min­ing, pro­gram­ming and sta­tis­ti­cal pro­gram­ming,” he said.

Jo­hari said busi­ness an­a­lyt­ics is a method­ol­ogy or tool to make a sound com­mer­cial de­ci­sion. Hence it im­pacts the func­tion­ing of the whole or­gan­i­sa­tion.

Ac­cord­ing to the 2016 Global Tal­ent Com­pet­i­tive­ness In­dex, busi­ness ser­vice is pre­dicted to con­trib­ute to 30 per cent of job de­mands in the United King­dom by 2025. A sim­i­lar pat­tern is fore­casted in Malaysia, too. It shows the global tal­ent land­scape is pil­lared by busi­ness and cus­tomer aware­ness, prob­lem solv­ing, ap­pli­ca­tion of numer­acy, ap­pli­ca­tion of in­for­ma­tion tech­nol­ogy, en­trepreneur­ship skills as well as com­mu­ni­ca­tion and lit­er­acy.

“In this land­scape, grad­u­ates must pos­sess de­sired skill sets to make them more mar­ketable.”

All busi­ness grad­u­ates are ex­pected to have busi­ness an­a­lyt­ics skills and knowl­edge for them to be able to as­sume crit­i­cal po­si­tion in the or­gan­i­sa­tion.

In re­al­is­ing the sig­nif­i­cance of busi­ness an­a­lyt­ics to­wards na­tion­build­ing, GSB in Uni­Razak is de­sign­ing com­pre­hen­sive syl­labus for busi­ness an­a­lyt­ics and Fi­nan­cial Tech­nol­ogy (FinTech) to be added as pro­gramme ma­jors in its cur­rent Master of Busi­ness Ad­min­is­tra­tion (MBA) pro­gramme. Busi­ness an­a­lyt­ics con­sists of four ma­jor ar­eas, which are Mar­ket­ing An­a­lyt­ics (MA), Peo­ple An­a­lyt­ics (PA), Fi­nan­cial and Ac­count­ing An­a­lyt­ics (FAA); and Op­er­a­tions An­a­lyt­ics (OA).

The busi­ness an­a­lyt­ics and FinTech en­riched MBA pro­gramme is ex­pected to be launched by Oc­to­ber this year for the Jan­uary 2018 in­take.

As­sis­tant Pro­fes­sor Dr Jo­hari Mat

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