Programme Directors : Profs. U Dinesh Kumar, Ishwar Murthy & Rajluxmi V Murthy
Programme Dates : 5 – 10 February 2017
Programme Venue : N-103, IIMB Campus
Programme Overview : The theory of bounded rationality proposed by Nobel Laureate Herbert Simon is evermore significant today with increasing complexity of the business problems; limited ability of the human mind to analyze the alternative solutions and the limited time available for decision making. Introduction of enterprise resource planning (ERP) systems has ensured availability of data in many organizations; however, traditional ERP systems lacked data analysis capabilities that can assist the management in decision making. Business Analytics is a set of techniques and processes that can be used to analyse data to improve business performance through fact-based decision-making. Business Analytics and Business Intelligence create capabilities for companies to compete in the market effectively. Business Analytics and Big Data has become one of the main functional areas in most companies. Analytics companies develop the ability to support their decisions through analytic reasoning using variety of statistical and mathematical techniques. Thomas Devonport in his book titled, “Competing on analytics: The new science of winning”, claims that a significant proportion of high-performance companies have high analytical skills among their personnel. On the other hand, a recent study has also revealed that more than 59% of the organizations do not have information required for decision making.
In a recent article based on a survey of nearly 3000 executives, MIT Sloan Management Review reported that there is striking correlation between an organization’s analytics sophistication and its competitive performance. The biggest obstacle to adopting analytics is the lack of knowhow about using it to improve business performance. Business Analytics uses statistical, operations research and management tools to drive business performance. Many companies offer similar kind of products and services to customers based on similar design and technology and find it difficult to differentiate their product/service from their competitors. However, companies such as Amazon, Google, HP, Netflix, Proctor and Gamble and Capital One use analytics as competitive strategy. Business Analytics helps companies to find the most profitable customer and allows them to justify their marketing effort, especially when the competition is very high. There is significant evidence from the corporate world that the ability to make better decisions improves with analytical skills. This course is designed to provide in-depth knowledge of business analytic techniques and their applications in improving business processes and decision-making.
Programme Directors : Prof. Shubhabrata Das
Programme Dates : 6 – 10 February 2017
Programme Venue : M-12, IIMB Campus
Programme Overview : The past few decades have witnessed growing adaptability of analytical forecasting tools in the corporate sector. This may be attributed to increase in the complexity, competitiveness and the rate of change in the business environment. The objective of this programme is to present a comprehensive view of the various tools and techniques used in forecasting for managerial decision making including the problem of demand estimation, market size determination, sales projections, analyzing and predicting stock prices. The methodology, covering various time series analysis techniques, as well as regression methods, will be presented with appropriate mix of case analysis and numerical demonstration with the aid of software packages so as to enable the participants to meet their own forecasting needs.
Participants would be split into small groups to work on forecasting projects that would be either decided/brought by the participants or would be given to them. Learning from these projects will enhance the learning for the participants.
Programme Directors : Prof. N B Kanagal
Programme Dates : 9 – 11 February 2017
Programme Venue : M-11, IIMB Campus
Programme Overview : Strategizing for marketing requires sensitivity to the external market environment, what the organization ‘can do’ and the obtainment of sustainable competitive advantages in the market place. The development of marketing strategies further involves the appreciation of the linkages between marketingstrategy formulation and its implementation, as well as recognizing the role of customer satisfaction and public image. Basic analytic skills to comprehend, analyze markets and competition aid in improving the effectiveness of marketing strategy formulation. The programme attempts to put together such an exposure.
09 February, 2017: Dr. Ajay Bakshi, CEO of Manipal Hospitals, will speak on Healthcare Economics: Theory and Practice at 4:15 to 5:45 pm on February 09, 2017 in Classroom L-11. He will focus on understanding the larger context of the health sector, the economic principles around which competition, provision, and growth of scarce health services are currently taking place in India. Dr. Bakshi will be speaking on a range of interesting questions that have been crowd-sourced from the class and woven into a broader narrative explicitly focusing on how resource constraints shape and identify opportunities for growth in the health space.Dr. Ajay Bakshi serves as the Chief Executive Officer and Managing Director at Manipal Health Enterprises Private Limited. He served as Managing Director of Max Healthcare Institute Limited since June 2013 and also served as its Chief Executive Officer from October 31, 2011 to June 2013. He served as an Associate Principal of Mckinsey & Company. He is an experienced healthcare professional and has played diverse roles across the globe, ranging from practicing Neurosurgeon in India, Stem Cell Scientist in USA, to a management consultant with McKinsey & Co. He serves as a Director at Manipal Health Enterprises Private Limited. Dr. Bakshi is an AIIMS Graduate.