Indian Institute of Management Calcutta

Programme : PGDBA

Name of the Course: Contemporary Business Analytics

Core / Elective: Core (Pre-Semester)

Credit: 1.5 credit (15 hours)

Academic Year & Term: 2022, Pre-Semester

Course Coordinator: Soumyakanti Chakraborty

Email: [email protected]

Course Instructor: Raktim Chakraborty

Email id: [email protected]
Affiliation: Price Waterhouse Coopers Pvt. Ltd.

Co-Instructor: Shounak Pal

Email id: [email protected]
Affiliation: Price Waterhouse Coopers Pvt. Ltd.

Introduction to Course /Course Description

This course sensitizes students on how companies can harness the potential of analytics to make more informed
decisions and conduct various activities in radically different ways and gain competitive advantage. The course enables
students to diagnose business problems, conduct in-depth analysis of the external as well as the internal environment
and understand how best to generate strategic business insights. The course also helps students appreciate the impact of
analytics and Big Data on a firm’s operations and performance.

Course Objectives and Learning Goals

At the end of this course, the student should be able to:

 Understand and appreciate the use of analytics in framing strategies and solving business problems
 Learn to use state-of-art software tools to implement their analytical knowledge.
 Analyze the opportunities and challenges pertaining to a business situation to develop analytical model
 Take a cross-disciplinary approach in understanding the best practices in business analytics

Course learning outcomes:

Upon the successful completion of this course, students should:
 Understand the concept of business analytics from a business perspective
 Apply and learn to use state-of-art software towards implementation of analytics in business problems.
 Analyze the complexities towards implementing and adopting business analytics
 Integrate and apply business analytics methods and techniques in solving important business problems.
Program Level Learning Goals
The following Programme Level Learning Goals will be applicable for this course.

1. Possess the ability to think critically and find data driven solutions to management problems using
appropriate tools from the field of Data Science

a. Learn to use appropriate analytical and quantitative tools from various disciplines and functions for
effective problem solving in management.
b. Develop critical thinking ability through analytical treatment of important contemporary problems and
issues in the field of data science.
c. Acquire the ability to design approaches and use relevant data driven models and tools to analyse
situations and solve real-life management problems.

2. Acquire deep analytical skills and enable organizations gain competitive edge globally

a. Acquire the ability to understand the data, build models and solve the managerial problems at global level.
b. Develop competence in analysing changes in international and domestic environment.
c. Acquire the ability to be the change agent in a multicultural environment and drive the organization to be
more data-driven

3. Create the capability to engage external and internal stakeholders in an organization through effective
articulation and communication

a. Acquire the ability to articulate clearly, cogently and logically managerial thoughts, ideas, arguments and
information in a manner that can demonstrate integrative/critical/ creative thinking
b. Improve practical verbal and non-verbal communication skills to integrate stakeholders

International Components:
Examples will be used from a global perspective

Pre-requisites
While we have not specified any courses as pre-requisites, functional knowledge (and ideally some hands-on
experience) of some analytics tools and techniques would be required is helpful for students to get the most out of the
course. We will circulate links to some relevant papers/articles/videos for the benefit of those who have not taken any
of the pre-requisite courses. For those with some hands-on experience in analytics, this course would help you better
appreciate the business, especially strategic perspective to analytics solutions.

Module Plan

The course is divided into 4 modules, each of which shall be a combination of lectures and discussions on real-life
problems.

Module 1: Course Introduction (2 sessions)

This module shall focus on:
1. What is Business Analytics?
2. What does the problem landscape look like?
3. What are some of the Frameworks that we can draw from?

Module 2: Solving the Problem: Rule-based (3 sessions)

This module shall focus on:
1. Analytics solution spectrum
2. Machine learning techniques
3. Hands-on Session 1

Module 3: Applications (4 sessions)

This module shall focus on the spectrum of applications currently deployed in the industry, in functions such as:
1. Forecasting and Market basket analysis
2. Case Discussion
3. Applications: banking, insurance, healthcare, retail and transport
4. Hands-on Session – 2

S No. Topic Intended learning outcome Facilitator References

Module 1: Understanding Business Analytics (2 sessions)
● Business Intelligence v/s  Smith (2021)
1 What is business  Raktim/Shounak
analytics? Business Analytics. What is Big  Video: What is Big
Data? Data Analytics?
● What does the problem  Weblink reading a
landscape look like, and what  Davenport (2006)
specific analytics problems can
we solve in the industry?
● Critical Big Data challenges and  Sivarajah et al. (2017)
2 Some Basic  Shounak / Raktim
Frameworks analytical methods? Frameworks
Module 2: Solving the Problem: Rule-based (3 sessions)
● Descriptive analytics and
3 Analytics solution Raktim/Shounak Textbook Chapter 3 and
spectrum visualization, Chapter 4
● Pattern discovery
● Diagnostics
● Predictive Modelling,
● Decision Science
● Classification and
4 Machine learning Raktim / Shounak Textbook Chapter 9 and
techniques ● Clustering Chapter 15
● Introduction to R
5 Hands-on Session – 1 Shounak / Raktim Data files to be shared
● Visualization through R;
● Classification and Clustering in
R
Module 3: Applications (4 sessions)
● Sales and Marketing Raktim/Shounak Teodorescu (2017)
6 Business Service
● Logistics and Supply Chain Simchi-Levi and
Applications – part 1
Timmermans (2021)
● Finance Raktim/Shounak Case study (TBA) –
7 Business Service
● HR Discussion in sessions
Applications – part 2
● RnD 7,8,9
● Applications: banking, Raktim / Shounak Practitioner experience
8 Industry-specific
insurance, healthcare, retail and sharing
Applications
transport
● Prediction, Evaluation and Shounak / Raktim New / Existing Data
9 Hands-on-Session – 2
Prescription through R files

Project Presentations (1 session)

 ● Students are expected to work Raktim / Shounak
10 Project
Presentations/Debrief on the given project in groups
and make in-class presentations.
Guidelines will be given for the
presentations.

Reference Text Book(s)

a. Shmueli, G., Bruce, P. C., Yahav, I., Patel, N. R., & Lichtendahl Jr, K. C. (2021). Data mining for business
analytics: concepts, techniques, and applications in R. John Wiley & Sons.

Recommended Text Book and Readings (s)

a. The problem landscape (Link: https://subscription.packtpub.com/book/big_data_and_business_intelligence/
9781785884191/1/ch01lvl1sec13/the-problem-landscape)
b. Zhao, Y. (2015). R and data mining: Examples and case studies. Academic Press.
c. Sivarajah, U., Kamal, M. M., Irani, Z., & Weerakkody, V. (2017). Critical analysis of Big Data challenges and
analytical methods. Journal of Business Research, 70, 263-286.
d. Davenport, T. H. (2006). Competing on analytics. Harvard Business Review, 84(1), 98.
e. Teodorescu, M.H. (2017), Machine Learning Methods for Strategy Research, HBS Working Paper, No. 18-
011, Available at: https://www.hbs.edu/ris/Publication%20Files/18-011_579b0249-df04-4755-b0f6-
3fe17c0b26cd.pdf
f. Smith Jr. T. (2021) It’s Time to Rethink Job Descriptions for the Digital Era. Harvard Business Review Digital.
December:1-8
g. Simchi-Levi, D., & Timmermans, K. (2021). A Simpler Way to Modernize Your Supply Chain. Harvard
Business Review, 99(5), 132–141.

Course Pack Distribution to students

Relevant links to articles or case lets will be shared on the LMS prior to the specific sessions.

Pedagogy & Evaluation

The course content shall be delivered through lectures and business case discussions. Evaluation shall be through:
1. One Project (40%): Specific Business Problems will be provided. Students have to work on secondary
data to provide working solutions that will include motivation and importance of the business problem,
problem formulation, both qualitative and quantitative analysis and solution recommendation.
2. One Case-based discussions and analysis (30%): Group-based discussions and written analysis of cases
based on daily lectures provided in class.
3. End-term examination (30%)

Policy on Plagiarism
Plagiarism is the dishonest presentation of the work of others as if it were one's own. This includes using exact words
of another author without proper citation and quotation marks indicating they are exactly reproduced; using material
from published/unpublished sources or the internet without proper citation of sources; being assisted by another person
in completing your assignment or writeups; and paraphrasing another writer without citing the original source.
Plagiarism is unacceptable and will be severely dealt with. Any requests for leniency will not be entertained.
Plagiarized assignments will attract not only penalty for the assignment but may also attract grade drops and other more
severe action as decided by the instructors.
Case analysis (Group activity):
Business cases are used in this course to help you learn and apply concepts, frameworks, and principles by analysing
real world organizational issues and problems in business analytics. Effective case learning enables you to develop the
ability to identify issues and approaches that are relevant and applicable to your own organization.
All case analysis writeups are group submissions. Case write-ups must be submitted before the beginning of the class
designated for discussion of that case. The write-up should not exceed one 2.5 pages with 1.5 line-space page and should
be written in 12 point font. No late submissions will be accepted. Your grade for the case write-up will depend on the
following: (1) identification of major issues and problems in the case, (2) application of appropriate concepts to analyse
the situation under study, (3) a well thought-out and credible recommended course of action, and (4) a doable
implementation plan. Please note that it is the rigor and effort of your analysis that is important and forms the basis for
evaluation of your write-up.

Project (Group Activity):

3-4 Contemporary topics will be given that defines industry-specific decisions that lead to business problems. Groups
will take up their own topic such that not more than 2 groups pick up the same topic. Each group will come up with
their own dataset, build up their case that will highlight the importance and relevance of the business problem. Further
they will be using tools and techniques that are introduced to them in the course. On the final day, they will present a
suitable use-case to solve the business problem.

About the instructors

Raktim Chakraborty

Mr. Raktim Chakraborty is Advanced Analytics Lead for PwC India focusing on Industrial 4.0 and ESG
(environmental, social and corporate governance) along with front office transformation. In addition, he also manages
overall progress and growth of PwC India’s advanced analytics consulting practice for domestic and global clients.
His interests are in analytics-led digital transformation, guiding global conglomerates on setting up analytics centers
of excellence, supporting data scientists in extending and innovating advanced analytics. Amongst the industries he
has consulted for are Manufacturing, BFSI, Ports, etc.

His linkedin profile is available at: https://www.linkedin.com/in/raktim-c/

Shounak Pal

Dr. Shounak Pal is current a Senior Associate at PwC India and was earlier an Assistant Professor at University of
Petroleum and Energy Studies. He has also worked with NIIT University and TCS prior to that. His interests are in
Supply Chain Analytics, Data Mining and Business Analytics apart from IT governance and technology investment
risk management.

His linkedin profile is available at: https://www.linkedin.com/in/shounak-pal-phd-662b63a5/