Center for Business Analytics Research
The Center for Business Analytics Research (CBAR) advances the science and practice of business analytics by bringing together corporate executives, faculty and students to promote business analytics research, outreach and teaching.
What is business analytics?
Business analytics is the study of data through statistical and operations analysis, the formation of predictive models, application of optimization techniques and the communication of these results to customers, partners and colleagues. Business analytics is used by organizations committed to data-driven decision-making.
Business analytics encompasses the skills, technologies, practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods.
Business analytics vs. business intelligence
| Business Analytics | Business Intelligence | |
|---|---|---|
| Perspective | Analytical and Predictive | Historical and Descriptive |
| Answers these questions: |
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| Includes: |
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Research:
- To develop new techniques to solve business problems
- To explore the limits of existing techniques
- To build models for solving complex business problems
- To help businesses manage uncertainties by mining data and studying business processes
Outreach:
- To engage with organizations and help them with big data and other decision-making issues in order to achieve significant bottom line improvements
Teaching:
- To educate and develop the next generation of business leaders proficient in business analytics
- Courses for undergraduate and graduate students
- Workshops for corporate associates
- Application and development of latest methods and tools of business analytics developed in artificial intelligence, operations research, management sciences and statistics communities
Research:
- To develop new techniques to solve business problems
- To explore the limits of existing techniques
- To build models for solving complex business problems
- To help businesses manage uncertainties by mining data and studying business processes
Outreach:
- To engage with organizations and help them with big data and other decision-making issues in order to achieve significant bottom line improvements
Teaching:
- To educate and develop the next generation of business leaders proficient in business analytics
- Courses for undergraduate and graduate students
- Workshops for corporate associates
- Application and development of latest methods and tools of business analytics developed in artificial intelligence, operations research, management sciences and statistics communities