Kelley faculty members have been at the forefront in researching how advanced analytics can be applied to challenging business problems and have developed innovative approaches to leveraging data in the most effective ways. We have assembled some of the recent projects completed by our faculty and corporate partners in business analytics into IBA's research magazine, OnAnalytics. In each article, we highlight capabilities associated with the decision context, the information and data used, and the type of analytic techniques applied, which in turn are the major components of a successful analytics initiative.
- Decision Capabilities. The ultimate objective of business analytics is to enhance an organization’s decision-making capabilities. Analytics-based decisions influence every area within an organization: day-to-day operations and long-term strategic management; cost reduction, profit enhancement, and risk management initiatives; and all types of assets, from physical to financial to IT.
- Information Capabilities. Business analytics is based first and foremost on the collection of raw data in the form of text, numbers, images, and audio recordings from sources both inside and outside the organization. The key capability is the ability to organize and integrate the raw data so that it can be employed in support of decision-making.
- Analytic Capabilities. A wide range of techniques, methods, and models from information systems, statistics, and operations research can transform information into insights. Proficiency in the application of these techniques to create insights that support diagnoses, prediction, and prescription for business decision-making is critical.
Explore the faculty research and corporate and student projects in our prior OnAnalytics issues.