Analytics is a secret weapon of many top-performing companies today. Organizations such as Amazon.com, Harrah's, Capital One and even the Boston Red Sox have dominated their fields by employing industrial-strength analytics across a wide variety of activities, mining vast amounts of customer data to help reduce fraud, anticipate resource demand, increase acquisition, curb customer attrition and more.
If your institution isn’t teaching students about the importance of analytics and data mining in the business world, now is the time to examine how doing so can improve their chances of gaining a true competitive edge in today’s cutthroat job market.
Dr. Ravi Bapna is an Associate Professor and Ackerman Scholar in the Operations and Information Management Department at the University of Connecticut School of Business in Storrs, Conn.
Dr. Galit Shmueli is an Assistant Professor of Management Science and Statistics in the Decision and Information Technologies Department in the Robert H. Smith School of Business at the University of Maryland, College Park.