In this tribune, Erik Ernesto Vàzquez, Head of the MSc Digital Business & Analytics, shows that Digital Business Analytics is necessary to make decisions in dynamic business environments. “Analytics, now a trendy term, is rooted in mastering data-driven decisions in business.”
Erik Ernesto Vázquez graduated from a doctoral degree at the University of Newcastle upon Tyne in the United Kingdom and Grenoble École de Management in France where he specialized in digital business. Erik has been MBA director, director for studies in business administration and human resources as well as a tenured professor in digital business before joining Leonard de Vinci Business School (EMLV) as Head of the MSc Digital Business & Analytics.
Early in the 20th century, modern capitalism based their model in electricity and oil as well as in television and radio. Transportation was based on the combustion engine and cars populated the way of life in many countries. But, a century later, society evolves to renewable energy, media towards the Internet, and transportation seeks to replace traditional cars with autonomous vehicles. Understanding these trends, estimating the time of adoption, and market opportunity is imperative for developing strong and profitable business models and size risk. From the exploration of alternatives to decision making, walking through this collaborative adventure is getting a glimpse of Digital Business Analytics.
Analytics, now a trendy term, is rooted in mastering data-driven decisions in business. It goes from understanding data, collection procedures, and methods of analysis to assess future scenarios. To do so, analytics moves beyond advanced statistical techniques such as clustering, regression, factor analysis, and time series into the use of artificial intelligence for predicting behavior. The applications of these techniques are endless and more important the development of an analytics mindset requires mathematical thinking and storytelling.
To develop the skill of digital business analytics and thrive in the new economy, one has to explore alternatives and develop technical skills. The use of software such as MatLab, R Studio, Python, Scala, RapidMiner, Java, SPSS, and Excel is necessary but not enough to develop the skill of digital business analytics. The pragmatic mindset that comes from exploring alternatives in a collaboratively way is the key to thrive in the new economy. That is why organizations continue to foster collaborative work at the same time they invest in developing technical skills. The new economy in the 21st century will require people to become more human and collaborate as well as more technical to develop and master the skill of digital business analytics skill and succeed.
MSc Digital Business & Analytics
The MSc Digital Business Analytics explores diverse digital business models, analytical frameworks and new tools that shape today’s business environment.
It prepares future consultants or managers to become executives and part of the international community in this digital world.
The course prepares students for career opportunities on the international scene in the field of digital business consulting, e-commerce, value chain management, digital ventures and business analytics.
More about international programmes at EMLV