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Project summary

Business analytics is the practice of iterative, methodical exploration of an organization's data, with an emphasis on statistical analysis. The project goal is to fill the existing gap on the labor market and through cooperation with companies and other stakeholders develop sustainable study program with international orientation and to become the leader in business analytics in the region of Western Balkans. The principal project outcomes will be the new courses and master program of advanced data analytics in business at Serbian universities, developed teaching methodology in business analytics and LLL courses for professionals in business analytics.

The project is motivated by needs for professionals in the field of business analytics in many branches of economy. This need is justified by all national strategic documents (Strategy for Education Development in Serbia until 2020, National Employment Strategy 2011-2020, etc.). The goal is to educate future experts capable of doing mathematical and statistical analysis, data mining, predictive modeling, multivariate testing, big data analytics, machine learning and text analytics. The use of business analytics will become a key basis of competition and growth for individual firms. Companies and other non-academic stakeholders will leverage data-driven strategies to innovate, compete, and capture value from deep and up-to-real-time information.

Well trained professionals in the vast area of applications of mathematics and statistics in business are of great importance for economic and social development. Participation of four largest universities in Serbia and several large companies as non-academic partners in this project will generate a significant impact on the national level while the EU partners will provide experience and know-how necessary for fast and successful achievements of the project’s goals. Sustainability of the project results will provide a permanent impact at the national and regional levels.

There are two clear objectives of the ADA project:

1.To develop and implement master curriculum in advanced data analytics in business in line with existing European study programs and according to Bologna requirements. New study program will be developed, implemented and accredited.

2.To organize lifelong learning program in advanced data analytics for professionals in different fields.

The goal is to educate future experts capable of doing mathematical and statistical analysis, data mining, predictive modeling, multivariate testing, big data analytics, machine learning and text analytics in order to fill the existing gap on the labor market and through cooperation with companies and other stakeholders develop sustainable study program with international orientation and to become the leader in business analytics in the region of Western Balkans.

What is Business Analytics?

Business analytics (BA) is the practice of iterative, methodical exploration of an organization's data, with an emphasis on statistical analysis. Business analytics is used by companies committed to data-driven decision-making.

BA is used to gain insights that inform business decisions and can be used to automate and optimize business processes. Data-driven companies treat their data as a corporate asset and leverage it for a competitive advantage. Successful business analytics depends on data quality, skilled analysts who understand the technologies and the business, and an organizational commitment to data-driven decision-making.

Business analytics tools come in several different varieties: Data visualization tools, Business intelligence reporting software, Self-service analytics platforms, Statistical analysis tools, Big data platforms.