程序代写 INFS5700 Introduction to Business Analytics

INFS5700 Introduction to Business Analytics
Week 7: Business Analytics Methodology (T2 2022)

Australian Business Essentials is back for T3!

The Career Accelerator team is pleased to announce the re-launch of our Australian Business Essentials (ABE) co-curricular program for Term 3. Australian Business Essentials is a 7-week program running from O-week to Week 6 that offers you the opportunity to develop your professional communication skills and gain a good understanding of Australian workplace culture. You’ll also be able to volunteer with an Australian non-profit organisation, giving you the chance to apply everything you’ve learnt throughout the program. EOIs are now open! Details here: https://www.unsw.edu.au/business/student-life/career- accelerator/postgraduate/postgraduate-mentoring/australian-business-essentials
Please note that ABE is designed for postgraduate international students, and that it can be done fully online for students based offshore. If you have any questions, please email

• Recap on Dashboards Best Practice
• Topic on Business Analytics Methodology (BAM)

Dashboards Best Practice
• Step 1: Objectives
• Step 2: Sketch
• Step 3: Prototype and Refine

Step 1: Objectives •?

Step 2: Sketch

Step 3: Prototype and Refine •?

Business Analytics Methodology (BAM)

Business Analytics Methodology (BAM)
• It provides managers with a process framework and a practical set of tools for developing and analysing an organization’s business model and analytics portfolio
• ThepurposeofBAMapproachistosupportan organization in gaining value from BA – from initial thoughts right through to completed analytics

Business Analytics Methodology (BAM)
• A top-down analysis process that focuses on the busines model of the organization and seeks to develop a business analytics development portfolio
• A bottom-up approach that is grounded in data, tactical work, model building, and technology

Business Analytics Methodology (BAM)
1. Problem Situation Structuring 2. Business Model Mapping
3. Business Analytics Leverage 4. Analytics Implementation

Business Analytics Methodology (BAM)
1. Problem Situation Structuring
2. Business Model Mapping
3. Business Analytics Leverage 4. Analytics Implementation

Problem Situation Structuring
• Business Analytics Capability Assessment (BACA)
• Rich Picture

Business Analytics Capability Assessment (BACA)
• BACA is conducted through a survey, which covers six areas that would affect analytics development and value creation
Online Survey Software | BACA (qualtrics.com)
• It helps the organization understand where they stand/are in terms of their readiness for implementing business analytics and current analytics capability

Business Analytics Capability Assessment (BACA)
• Analytics strategy scores the lowest whereas data privacy and security scores highest
• Organizations know importance of data protection and are gearing up with analytics people, but analytics strategy is less developed
BACA radar chart (Viden, 2017)

Problem Situation Structuring: Rich Picture
• It tries to mirror/simulate the complex situation in which the organization is operating
• It centers on the focal business unit, but with boundaries extending into the environment to provide a holistic perspective

Rich Picture Drawing Tips
1. It’s not about the picture! 2. Use a structure
3. Create an issues list
4. Decide the focus
5. Focus on relationships 6. Create an icon set

Rich Picture Drawing Tips
• Drawing elements
➢ pictorial symbols; keywords;
cartoons; sketches;
symbols; title • Conventions
➢ To help interpret a situation, choose symbols, scenes or images that represent the situation
➢ Put in whatever connections you see between your pictorial symbols
➢ Avoid too much writing

Rich Picture Example – GoGet
• Australia’s largest car- sharing organization
• Exchange private car ownership to hourly access to a set of shared local vehicles
• Reduce traffic and parking congestion in major urban areas
• Expand business from B2C to B2B arena
GoGet – Australia’s Leading Car Share Network

Rich Picture Example – GoGet
Some strategic issues/priorities were identified:
1. Convenience and reliable service are essential for customer acquisition and retention
2. Local government is a key partner
3. Access to parking pods is fundamental to the business
4. Vehicle availability needs to be maximized
5. Vehicle insurance and vehicle repair costs need to be managed
6. The booking platform and fleet management technology is a key asset

Business Analytics Methodology (BAM)
1. Problem Situation Structuring
2. Business Model Mapping
3. Business Analytics Leverage 4. Analytics Implementation

Business Model Mapping
• Business Model Canvas • Root Definition

Business Model Canvas
• A template to define a new or existing business model. It divides the processes and internal activities of a business into nine different categories, each representing a building block in the creation of the product or service
• It helps to understand value creation and value capture by the business model of an organization

Business Model Canvas Example – GoGet

Exercise – Developing a Business Model Canvas for a Budget Airline

Root Definition
• It is a short textual definition that capture the purpose of the organization
• Essentially, it addresses the purpose, operations, and strategic aims of the organization. It should tell us what the system will do (X), how it will do it (Y), why that is meaningful (Z)

Root Definition Example – GoGet
• It can be encapsulated in template form as:
A system to do X, by (means of) Y, in order to do Z

Business Analytics Methodology (BAM)
1. Problem Situation Structuring 2. Business Model Mapping
3. Business Analytics Leverage 4. Analytics Implementation

Business Analytics Leverage
• Opportunity Matrix
• Analytics Leverage Matrix

Opportunity Matrix
• ItusesBMCdevelopedtoidentifyleverage points for business analytics – the application that are most likely to lead to creation of value and the best use of scarce resources
• ThecomponentsofBMCaresystematically mapped in matrix form against potential analytics applications

Opportunity Matrix Example – GoGet
• Front-office business analytics opportunities matrix for GoGet

Opportunity Matrix Example – GoGet
• Back-office business analytics opportunities matrix for GoGet

Analytics Leverage Matrix
• To categorise a large number of opportunities identified in the opportunity matrix and to reduce this to a working list of potential projects
• The leverage matrix is created by considering two dimensions, i.e., perceived difficulty and potential for value creation. Together, they give four quadrants:
➢ Quick wins: These are high-value areas where analytics can be applied to create value with relative ease (e.g., using technologies and techniques that are tried and tested)
➢ Major projects: These are also high-value areas, but they are considered more difficult to achieve
➢ Fill-ins: These are lower-value projects, but as they are not considered to be difficult to implement, they may still merit inclusion
➢ Hard slogs: As these analytics projects are likely to be low in value and difficult to achieve, they are best avoided

Analytics Leverage Matrix Example – GoGet
• Quick wins: Building a predictive model to identify customers at high risk of causing vehicle damage
• Major projects: Modelling customer lifetime value (a key part of managing customer loyalty and revenue generation)
• Fill-ins: Predictive modelling of performance of technology platform (but not currently a business priority)
• Hard slogs: Optimizing the fleet through simulation models

Questions?

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