Tuesday, November 6, 2012

How does the finance sector leverage on Business Analytics?

In the Diploma in Business IT (DBIT) course, we constantly strive to keep our students updated of the latest trends in the Business and IT industry so that they graduate with useful skills that would gain them the most wanted jobs

One of the hottest skills in demand now is what is known as Business Analytics.  Not many people are familiar with this term however, so if you are also new to it, you are not alone!

In simple terms, "Business Analytics" is a process whereby companies focus on ways to improve their business performance by studying trends with data generated from sophisticated software known as "Business Analytics Software".  Not many people are trained in this area however, so it would do good if you equip yourself with knowledge and experience of this!

To increase the awareness of our DBIT students in this area, Ms Tan Teck June, Singapore Polytechnic lecturer invited Mr Eric Sandosham, Managing Director & Head of Asia Pacific Decision Management Citibank N.A. for a sharing session on Business Analytics.

Here is a write-up by Teck June of the event, which is also featured on our SP blog.

On 31 Oct 2012, Mr. Eric Sandosham, Managing Director & Head of Asia Pacific Decision Management Citibank N.A., shared with SP students and staff on an overview of Business Analytics and Big Data. The talk was attended by students taking the Business Analytics module from the Diploma in Business Information Technology, Diploma in Infocomm Security Management and Diploma in Information Technology, and staff from the School of Digital Media and Infocomm Technology and the School of Mathematics and Science.

Audience listening intently to the talk on “How Citibank leverages business analytics for their business”

Mr Sandosham shared with the audience on the concepts of business analytics (BA) and how it adds value to a financial organization such as Citibank. He shared stories on how Citibank applied BA and leveraged on BA to improve profitability. He shared with students on the types of skillsets required to be a successful Business Analyst, such as having an analytical and creative mindset in framing problems, having a good understanding of statistics and business domain knowledge, good IT programming skills, and good presentation and communication skills. Needless to say, this thoroughly intrigued our students and created an awareness of how BA could be deployed for competitive advantage.

“It was a fantastic session as it allowed me to gain more in-depth knowledge about Business Analytics.” – Alvin Ang, DBIT 3rd Year student.

“This talk was definitely helpful for my understanding in Business Analytics and Big Data. One of the things I took away from the talk was that we need to know what we want from the massive data and how to manage it. Now I know that Big Data comprises of three key components; velocity, variety and volume” – Shi Hui, DBIT 3rd Year student

Our guest speaker, Mr Eric Sandosham, Managing Director & Head of Asia Pacific Decision Management Citibank N.A.

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