Business Analytics

The focus of the Think Tank in 2015 and 2016:
Business Analytics
| The way to data-driven enterprise management

The Dream Car report of the Think Tank on the subject of "Business Analytics" is available for free download:

 

Focus on future-oriented analyzes

What is meant by "Business Analytics"? "Analytics" is the comprehensive use of data, statistical and quantitative analyzes as well as explanatory and predictive models (see Davenport / Harris, 2007). In this context, the term "business" underlines the fact that these methods and models are used in an operational context in order to generate data-driven management decisions. In particular, data-driven predictions, forecasts and optimizations can lead to improved management decisions, thus opening up competitive advantages (see Figure 1).

Fig. 1: Analysis methods (in reference to Davenport / Harris, 2007)

 

What are the questions from the controlling perspective?

Due to the increasing digitization, enormous amounts of data are generated. Business Analytics is intended to enable these data to be sensibly analyzed and to derive useful knowledge. With our work in the Think Tank, we would like to find out how the use of business analytics affects controlling. In addition, we would like to point out suitable solutions for their practical work to controllers. We will deal with four main questions (see Figure 2).

Fig. 2: Important topics regarding business analytics from the point of view of controlling