NYU Stern Announces New Center in Business Analytics
With the new MS in Business Analytics and the new Center, there will be many opportunities to explore synergies between research and teaching and to infuse the research with experience and examples from a broad range of industries. --Anindya Ghose
Heightened Interest in Data as Strategic Decision-Making Tool Fuels Growth in Business Analytics Across DisciplinesNew York, NY, September 26, 2012 -- New York University Stern School of Business has announced the creation of a Center for Business Analytics headed by Information Systems Professors Vasant Dhar and Anindya Ghose. This new Center will foster collaborative inquiry in the field of Business Analytics across the Stern School, New York University, and the global research community. The launch of this research center complements the announcement made in April 2012 of a new Master of Science in Business Analytics that will be offered at NYU’s new campus in Shanghai and at the School’s Washington Square campus, beginning in May 2013. The Center will provide support for this newly established graduate program.
“The Center for Business Analytics, along with the MS in Business Analytics that we will offer at NYU’s Shanghai campus next year, aligns research and teaching on the growing field of Big Data and Data Science,” said Peter Henry, dean of NYU Stern School of Business. “The explosive growth of data is changing business models and transforming the way decisions are made. With deep expertise in both quantitative methods and information systems, Stern faculty are well-positioned to contribute to this cross-disciplinary field.”
With the recently projected explosion in data at a roughly 50 percent annual growth rate, noted in a McKinsey report on “Big Data”, decision making across all areas of business -- manufacturing, technology, government, health care, energy -- is becoming increasingly automated or reliant on data-intensive information systems. Companies are realizing that the large amount of data that they now possess, coupled with new business analytics tools that will allow them to interpret data, are valuable corporate assets. They are seeking ways to exploit data not only to drive day-to-day decision-making, but to inform strategy and drive growth. Applications of business analytics extend to nearly all managerial functions in an organization.
NYU Stern is well-positioned in thought leadership in this field. Stern faculty have been very active in Business Analytics research and teaching, with major research projects underway or completed in the application of machine learning, optimization of social networks, digital marketing, big data, statistics and applications in finance and healthcare.
Center Co-Director Vasant Dhar brings expertise in the areas of predictive analytics and data governance, while Co-Director Anindya Ghose’s expertise is in econometric analyses of how Internet and mobile technologies transform industries and markets. “Our objective is to harness Stern’s research strengths, to engage researchers and business leaders around the world to work with us in solving the big, data-intensive problems in business and society. We aim to pursue high-quality projects that address these big problems,” said Prof. Dhar.
“With the new MS in Business Analytics and the new Center, there will be many opportunities to explore synergies between research and teaching and to infuse the research with experience and examples from a broad range of industries,” added Prof. Ghose.
About New York University Stern School of Business
New York University Stern School of Business, located in the heart of Greenwich Village, is one of the premier management education and research centers. NYU Stern offers a broad portfolio of academic programs at the graduate and undergraduate levels, all of them informed and enriched by the dynamism, energy, and deep resources of one of the world’s business capitals.
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