The New Normal in Business Studies

There is a word “Forecasting” that all of us find fascinating, in one way or the other. Think of what could have been achieved if we knew in advance, what lies in the future. Fortune-tellers claim to predict the future, however, none of them have been able to prove it scientifically. As far as Einstein’s ‘Theory of Relativity” is concerned, it states that the future is unpredictable, and lies in a pool of probabilities. We cannot state at this point in time how long will it take, if ever possible, to build a time machine so that we can jump across the timeline into the past and to the future.

Fortunately, we are moving in a direction towards using complex data analysis, with sophisticated mathematical techniques, applied over the data in a repetitive way, all thanks to the efficient computing programs, that enables us to find the hidden trends in the data, to predict or to forecast some objectives of interest.

Business-driven insights, that are mined from the Enterprise or Organizational Datasets, relate to the tools and techniques that are collectively known as Business Analytics, which is now the core part of almost all verticals of large and medium-sized organizations. Almost all the departments of an organization and its activities, like Finance, HR, Marketing Strategies and Management decision making are today ruled by analytics. Without Business Analytics, Organizations of this era are blind and deaf, who no longer can survive.

I would like to outline here one of the consulting firms, named Mordar Intelligence, based at Hyderabad. It is a company that provides marketing research, and it is best known for the quality of the research work. Its marketing research is used by most of the business houses for exploring the possibilities of new ventures and the company also facilitates several start-ups for market analysis and for business incubation. Analytics is the driving force and the Business Model.

I believe that Taxila Business School is one of the pioneers in inculcating the analytics-based approach of problem-solving in the traditional curriculum of MBA and PGDM. Some of our stakeholders question: “Isn’t that asking very much from the students?” The answer is, NO! The model curriculum which is adopted now is the one which is adopted by most of the Institutions of global repute like MIT and Harvard Business School. Most of them have included analytics based case studies in almost all the subjects.

Another point I would like to add, here Business Analytics is a core subject in the first two terms and included in the form of case studies in all the courses from third term onwards. The department of Business Analytics has a number of renowned professors, having expertise in tools like R and Alteryx. However, it is not just the expertise of any tool that we expect from the students, it is the in-depth understanding of the cases in varied contexts, from different perspectives, that the students gain through quantitative techniques of reasoning.

We have formulated some of the most detailed and illustrative case studies, on real data, purely based on Business Analytics that you can request for a copy. These case studies prove to be the edge we have over others, in delivering the most relevant content with the practical decision-making approach as desired by all prestigious recruiters.