Why Engineering and Business do not understand each other...

Porter's 4 Forces

Hello everyone in the Business Analytics community - We are Porters 4 Forces, because we don't need the fifth, slowing us down. We are old, we are strong, we are here to win. Here is a short introduction of our team members: Jay I am Jay Kim. I am married to a Thai. We got married after seeing each other for six years, including 3 years long distance while I was in Abu Dhabi. I have been working in the conservative construction industry for over 4 years, and yes, it is still relying on the traditional way of managing projects. I believe that big data and the Industrial Internet (IoT) can be applied to a traditional industry like construction to improve efficiency and minimize risks and unnecessary jobs. Eventually this could save millions of dollars, which is the major reason that I joined SNU MBA. Felix Hallo, my name is Felix. Feel free to talk to me about travel in Asia/Pacific, fußball (or as you ...

Blog entry # 3 - Network Analysis and course insights

Network Analysis is very powerful! If you thought that conventional Data Analysis is breaking all boundaries in terms of finding new significant insights on data we were not able to track and see before, then network analysis will truly blow your mind. In an era of constant growth in social media use and networking between people, everyone seems to want to connect and share things with each other. In fact, everyone seems to want to be part of a group or in our case, a network. Network analysis gives you the ability to see even deeper connections between individuals as we can analyze different aspects of their connections with each other, how important they are to each other and to the network, how often do they interact with each other and how well they are connected to others. Don't hurt my Ego-network! A network is made of nodes - the individuals in a network (e.g people, objects etc.), and edges - the connections between these nodes. There are man...

Blog entry # 2 - Tableau & Google Analytics

Data Visualization In a world of information overflow, Data Visualization is getting more and more important. Excel sheets tend to grow to a “wall of numbers” quickly. The information within its data is hard to recognize and understand. As David McCandless phrased it “Data is the new (s)oil” . It can be considered to be “a fertile, creative medium”. It allows us to “grow” visualizations from it or dig into it. We have to use smart tools and methods to make information easy to identify and understand for other humans. A lot of creativity is required to come up with insightful visualizations. They can even be considered a kind of art. We learned about the following best practices of data visualization: - Trends can be identified by timeline analysis - Ratios are well represented by space/area (people have no perception of ratios using numbers) - Storytelling is driving attention - Interactivity is driving engagement - Data Visualization can be b e a u t i f...

Porters 4 Forces - Business Analytics 2017

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