BUSINESS INTELLIGENCE COMPETENCY CENTER
Last Updated: December 2012 Dr. Joseph M. Woodside
Executive Director BICC, Stetson University Dr. Ted J. Surynt
Executive Advisory Board, Stetson University Dr. Gary C. Oliphant
Executive Overview
With ever increasing amounts of data, organizations are identifying the importance of Business Intelligence (BI) for decision making. Gartner recognized BI as one of the fastest growing areas despite minimal economic growth, as organizations seek to compete and differentiate themselves through data based decisions. However in order to realize the full potential of BI technologies, organizations require well-trained management and analytic subject matter experts to transform the data and results into actionable information for decisions. A McKinsey Global Institute report identified requirements for 1.5 million additional analytic staff, with a shortfall due to knowledge gaps within the current workforce. In another SAS survey nearly three quarters of organizations indicated an investment priority of improving analytical skills of current
employees, with more than half indicating a priority of hiring more analytical talent.1,2,3 In keeping with the vision, values, and goals of Stetson University and the School of Business Administration, the Business Intelligence Competency Center (BICC) seeks to develop knowledge and skills vital in the fast changing field of business administration, through
developing the next generation of business managers and analysts with skills in decision-making through use of analytical techniques. This document provides the strategic framework for the definition and development of a BICC, which can operate as stand alone center in collaboration with existing departments and schools at Stetson University and partner Universities, along with the multi-disciplinary framework for joint academic and industry collaboration to develop the next generation of BI industry experts. The BICC can then be utilized to support university growth and take advantage of increased sector growth over the next several decades.4,5 The BICC consists of two main components, the knowledge center and research center. The knowledge center consists of operational aspects such as BI curriculum and skills development: program and project management, technical support, training, data stewardship, analytics, data mining, performance management, data acquisition, and delivery. The second component, the research center seeks to develop publication quality research and development. This includes establishing the participating members as leaders in research and development, gaining industry exposure through peer review outlets, incorporating empirical methodology for educational modules, and improving understanding of theoretical backgrounds and implications. The
knowledge and research center components work closely together to provide feedback on current practices, identify future trends and opportunities, and improve overall BICC value. 5
1 Description of BI Growth: "Data analytics, business intel huge job growth opportunity" TechJournal, 2011.
2 Description of BI Growth: "Gartner Forecasts Global Business Intelligence Market to Grow 9.7 Percent in 2011" Gartner, 2011. 3 Description of BI Growth: "Investment-in-business-analytics-and-talent-will-rise-in-2012" TechJournal, 2011.
4 Vision, values, and goals: Stetson University School of Business Administration Catalog
Timeline
The BICC follows a phased-in approach to deliver continuous incremental value to Stetson University, with a five year roadmap for program development. The first phase consists of courses development in BI and Healthcare Intelligence (HI). The second phase consists of developing specific tracks for Major/Minor/Certificate opportunities. The third phase seeks to expand across curriculum areas and campuses.
Curriculum Structure
A key component of the BICC is establishing formal curriculum programs through best practices established in industry and research, in order to prepare students for future contributions and career paths. The curriculum is centered around a core curriculum consisting of business intelligence, business analytics, information systems, and multi-disciplinary concentration courses with areas including: Accounting, Finance, Computer Science, Management, Economics, Marketing, and Healthcare. For example a BI student can take marketing electives to broaden their marketing background, or similarly a computer science student can take BI elective courses to expand their business intelligence background. This allows the capability to expand curriculum tracks while maximizing use of existing programs.
Health Intelligence
Healthcare generates 30 percent of the world’s data according to estimates, with 65 percent of survey respondents indicating their data storage will grow at a rate between 25-50 percent per year,driven by imaging files, electronic health records, personal health records, and scanned documents. Despite this growth in volume, few healthcare providers have developed a formal strategy for handling the increasing amounts of data. Big Data in healthcare reflects the volume, growth, and types of data, as well as the tremendous opportunities available, though full
integration and coordination has yet to occur and unlock the potential value. In one report Big Data in healthcare was expected to be valued at $300 billion in the next decade, with annual growth between 1.2 – 2.4 Exabytes per year.6,7,8
The Health Intelligence knowledge and research stream within the BICC represents an opportunity to take advantage of the growing healthcare field and student interest among clinical, business, and technical career paths. Existing courses can be utilized as core curriculum, extending key courses to healthcare to complete the undergraduate, graduate, or certificate programs. The research stream seeks to develop innovate research, publications, and funding that can be utilized to reinforce the curriculum and learning.
Health Intelligence Sample Course Sequence Prerequisite: STAT Business Statistics
CSCI Introduction to Computing
Core: MIS Project Management
Business Intelligence Introduction Business Analytics
Healthcare Informatics and Systems Healthcare Operations Management Healthcare Research Methods
Electives: MIS Data and Information Management, MIS Data Warehousing, MIS
Performance Management, MIS Systems Analysis and Design, Healthcare Privacy and Security, Healthcare Finance, Healthcare Applied Projects, MGT Leading Organizational Change & Development, MKT The Marketplace and Consumers
6 Healthcare IT News survey on healthcare data growth: Miliard, M. "'Deluge of data' has hospitals swimming upstream" H.I. News, 2012. 7 Healthcare Informatics survey results on data and migration: DeGaspari, J. "Healthcare Data Experiencing Explosive Growth" Healthcare-Informatics, 2010.
Market Intelligence
Marketers are increasingly developing data driven customer intelligence solutions to gain additional insight on customer data as a way to improve sales and overall customer experience. BI capabilities, including data mining and analytics are driving this trend, allowing highly customized customer interactions offering the right product, at the right price, and the right moment in time. New developments are also occurring in the space of social media marketing and mobile marketing, which mine expansive datasets to deliver improved information for decision making and customer targeting. Example application areas of marketing intelligence are listed below.9,10
• Customer Experience • Customer Lifetime Value • Product Profitability
• Marketing Campaign Analysis • Email Marketing
• Mobile Marketing • Social Media Analytics • Predictive Purchase Modeling
Market Intelligence Sample Course Sequence Prerequisite: STAT Business Statistics
CSCI Introduction to Computing
Core: MKT 316 Consumer Dynamics
MKT 3181 Marketing Research Business Intelligence Introduction Business Analytics
CRM Systems and Administration Social Media and Mobile Analytics
Electives: MKT 4502 Marketing Strategy, MKT 417 Marketing in the Supply Chain,
MKT 419 Professional Selling, MKT 420 Global Marketing Business Without Borders, MKT 436 Sports Marketing, MKT 4403 Integrated Marketing
Communications, MIS Data and Information Management, MIS Data Warehousing, MIS Performance Management
9 HBR article on advanced marketing capabilities: Davenport, Thomas H., Mule, Leandro Dalle, Lucker, John. "Know What Your Customers Want Before They Do" Harvard Business Review, 2011.
Computational Intelligence
To address growing data complexity and performance, advanced algorithms and intelligence systems are required to deliver information for decision making. These include biological and linguistic methods, along with in-memory, grid, and high-performance computing solutions to deliver timely information. Below are example areas for the design, application, and development of computational intelligence systems.11,12
• Clustering
• Self-organizing map
• Sequence and web path analysis • Decision trees
• Neural networks • Partial least squares • Time series data mining • Survival analysis
• Genetic algorithms
• Evolutionary programming • Fuzzy systems
Computational Intelligence Sample Course Sequence Prerequisite: STAT Business Statistics
CSCI Introduction to Computing
Core: CSCI 211 Discrete Structures
CSCI 311 Algorithm Analysis CSCI 361 Numerical Analysis CSCI 431 Artificial Intelligence Business Intelligence Introduction Business Analytics
Electives: Mobile Application Development, CSCI 221 Software Development, CSCI
321 Software Development II, CINF 301 Web Application Development, CSCI 498 Senior Research I , CSCI 499 Senior Research II, MIS 360 Project Management, MIS 397 Data and Information Management, MIS 494 Systems Analysis and Design
11 Description of Computational Intelligence Field. IEEE Computation Intelligence Society. IEEE, 2012. 12 SAS software overview: SAS, 2012.
Student Success and Career Paths
The BICC prepares students for a number of potential career paths including: • Executive, Management
• Business Analyst, Statistical Analyst, Financial Analyst, Economic Analyst • Marketing Analyst, CRM Administrator, Competitive Intelligence Analyst • Data Analyst, Data Scientist, Data Miner
• Programmer, Developer, Software Engineer
• Healthcare Analyst, Healthcare Administrator, Healthcare Clinician
Below are representative comments of the student success in the health intelligence concentration courses and career track:
•“This class has provided a wealth of knowledge on the growing global trend with
information systems in healthcare. It was great to see how much of the information provided was very much applicable to the experiences I have had with integrating new systems. It will provide much value with my focus in administrative nursing. Thank you all for the great learning experience!”
•“This was a very interesting class. I have learned so much about the role of information technology usage to help improve the outcomes of care. Having a vision, getting others to share that vision with commitment and resilience can make a big difference in the
healthcare industry. Thank you Professor for guiding and sharing your knowledge.”
•“This course was very educational, it taught me a great deal about information technology in healthcare. I broadened my views about informatics and it gave me a new insight that I never knew before. It was well worth it!”
Funding
Funding the BICC can occur through program enrollment, available grants, sellable services developed through innovative research projects, and consulting time to industry organizations.
• Degree Granting Enrollment • Continuing Education Enrollment • Grants
• Innovations/Sellable Services • Consulting
