Tuesday, April 30, 2013

How companies leverage on Business Analytics and Social Media Analytics

On 24 April 2013, a Business Analytics Awareness Day was held with talks, fun activities and games. The event started with two speakers sharing with students their perspectives of Analytics. It was then followed by Business Analytics games.

Mr. Kelly Choo, Co-founder and VP Business Development of Brandtology shared on the topic “Entrepreneurship and Social Media Analytics”.  This was followed by Mr. Syed Ismail, Head of Information Management, Pre-sales, SAS Institute Pte Ltd who shared on “Big Data: The Path to Business Analytics.”

The event was attended by Diploma in Business Information Technology and Diploma in Information Technology students who are taking the Business Analytics (BA) module, as well as staff from the School of Digital Media and Infocomm Technology, and the School of Mathematics and Science.

Mr. Kelly Choo shared with the audience a video on modern patterns of consumers. He highlighted that as a result of increasing usage of social media, consumers turn to online brand advocacy. Data are collected from various social media platforms, e.g., Facebook, Twitter, LinkedIn and Instalgram. A data scientist will then be brought in to study the data collected and to apply business analytics solutions to companies so as to improve revenue.

Mr. Syed Ismail shared with the audience on the evolution of business models; from the traditional convenience store to modern day online shopping. Due to the evasive use of technology, many companies struggle to response quickly and effectively to customers. With the application of BA solutions, for example, use of market basket analysis techniques, companies have an in-depth view on customer psychology and hence company could leverage on business analytics to make wise business decisions and to improve profitability.

These talks were definitely helpful for my understanding of Business Analytics and Social Media Analytics. The talks shared by both speakers were insightful and comprehensively delivered” – Roysten Teng, DBIT 3rd Year student.

Students playing BA games

Having fun

Besides the talks, the students also learnt about Business Analytics through games!

“All of us got excited during the Business Analytics games session. During the quiz game, a point system was adopted which brought out the competitiveness among the different class groups. I enjoyed it because it is not often we have something like this. Perhaps, it will be great to have more of such events in the future.” – Shanon Chong, DBIT 3rd Year student.

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