Business intelligence now more valuable to employers

Screenshot of KNIME

Converting raw data into information that managers can use to make decisions is becoming increasingly important. Image via Wikipedia

A shift in the world of marketing has led to a new appreciation for the analysis of data.

A report in The Wall Street Journal, “Business Schools Plan Leap Into Data,” discusses an emerging trend among graduate and undergraduate business schools to add classes, certificates and degrees geared specifically toward business intelligence, or data analytics.

The article says that as the use of analytics grows, companies will need employees who understand the data. The authors cited a study that found that by 2018, the United States will face a shortage of 1.5 million managers who can use data to shape business decisions.

“Analytics is certainly in the Top 5 things [executives] are worried about and investing in actively,” said Scott Gnau, president of Teradata’s Teradata Labs, told The Wall Street Journal. “Industry is going to demand it. Students are going to demand it.”

Kim Ruggiero, a Cohort 7 graduate of the Stetson University Executive MBA program, said she has witnessed firsthand the business world placing more value on the ability to decipher the numbers.

“Data analysis is vital, especially in the social media space, because as a marketer you need to know who to message to, what to message and how much to message,” explained Ruggiero, an associate marketing manager at Walt Disney Parks and Resorts. “Digital tactics such as online advertising, QR codes, website activity and social media sites are much easier to track than traditional media like radio and TV. It allows us to determine which tactics performed well and what the level of engagement was among our consumers to help influence decisions in the future.”

One of Ruggiero’s classmates, Darcy Clark, agrees. “Data is critical,” said Clark, who works in digital marketing at Walt Disney Parks and Resorts. “I use data on a daily basis, most often as it relates to our social media and Facebook strategies. We can measure the impact of a particular post and tell how many people engaged with the content, how many clicked through to get more information and how many ultimately purchased (if it was tied to an offer).”

Clark added that many people in her organization are tasked solely with data analysis, each working on a different piece of the puzzle. “It’s that important,” she emphasized.

But as much as data analysis is key in the marketing field, both Ruggiero and Clark say they believe most business schools don’t prepare students for the practical uses of data analysis.

“The base knowledge we gained from the Stetson Executive MBA program set the foundation for later learning that can only occur on the job,” said Clark.

Students in the Stetson Executive MBA program take several classes that focus on the subject, including Fundamental Statistical Management Techniques, Marketing Concepts and Analysis, Managerial Decision Analysis and Marketing Decision Making.

“Dr. Ted Surynt’s and Dr. Ram Subramanian’s classes were great in opening up my mind to think creatively about how all the pieces of a puzzle fit together,” added Clark. “That is critical when you’re looking at numbers and data and how those things fit into the larger marketing and overall business picture.”

Self-discipline pays off for Cohort 6

EMBA’s Cohort 6 -- Back row: Anne Hamilton, Brian Sward, PJ Baro, Andre Hale, Shawn Byrd and Eileen Bowe. Middle row: Abdullah Qasim, Kelly Long, Damaris Jimenez, Mark Snider, Carlos Escobar, Doug Steele, Derrick Guss and Melissa Emley. Front: Bryan Tabler, Deborah Gustafson, Jennifer Small, Melania Lavezzi, Shibani Kyani and Melissa Holycross.

Consider this business proposal: Build a luxury hotel resort condominium on Costa Rica’s Pacific coast that will have rapid initial sales and maintain high occupancy rates. Call it the Tropical Sands. Give it 84 two-bedroom units with many amenities, including balconies with views of both ocean and jungle. Build it in the country’s hottest destination, easily accessible and environmentally rich.

Or what about selling cars online, or operating an adult daycare center or selling wine or developing and selling smart phone apps?

They are all entrepreneurial ideas of students in Stetson University’s Executive MBA Cohort 6, who graduated from Stetson University in May 2010. The detailed business plans, some of which may become reality, are a critical exercise that comes at the end of 19 months of rigorous study.

Awards, surprises, friends and good food made a festive finish for a cohort that went a long way together — all the way, in fact, to the constitutional monarchy of Dubai on the Persian Gulf, 3,700 miles east of the cohort’s classroom, for the international field study element of the group’s studies. In Dubai, students met leading financiers and managers of businesses with a global reach. They also walked the sands of the Arabian Desert and met a few camels.

Students voted lecturer Peggy Stahl of the Management and International Business Department as their “Distinguished Professor.” Jennifer Small was voted “Top Student Overall.” The award for best business plan, decided by Drs. Monique Forte, Ted Surynt and Stuart Michelson, dean of the School of Business Administration, was Tropical Sands, developed by Anne Hamilton, Melania Lavezzi, Abdullah Oasim and Doug Steele.

Among other accomplishments, Cohort 6 left its mark on Stetson by developing a Code of Ethics for future cohorts.

The EMBA program is designed for students with years of real world experience. Cohort 6 is a combination of regional residents, employees of Celebration area businesses, and some who traveled more than two hours to attend class every Friday and Saturday from 8:30 a.m. to 4:30 p.m.

But that wasn’t the hardest part, said PJ Baro. “Making the decision to obtain a graduate level degree was the most difficult part,” Baro said. After that was merely a matter of “great discipline and focus to balance family, work and school responsibilities.” The reward, he said, has been meaningful relationships, a wide professional network, advanced business knowledge and acumen that will “make a lifelong impact.”

Baro was one of six Cohort 6 members tapped to join the honorary society Beta Gamma Sigma. The others are Eileen Bowe, Melissa Emley, Jennifer Small, Doug Steele and Brian Sward.