Updated: Mar 25, 2019
*February 4 2019*
A very important skill that companies are looking more and more toward is the ability to leverage data-driven insights when making high level business decisions.
“It’s the way the world is going.” - Professor Jan Hammond, HBS Professor
Microsoft used business analytics to make educated hypotheses in an effort to save money whilst boosting employee productivity. After looking at various analytics, Microsoft proposed moving 1,200 people from five buildings to four. This move resulted in a 46 percent decrease in employee travel time, resulting in 100 hours saved and $520,000 per year in cost savings. Nicely done!
Uber used business analytics prior to the rollout of a software update focused on streamlining customer service capabilities. The company used the 'A/B testing model' to compare the results of two choices to find which version had the greater reduction in handle time per ticket.
At Blue Apron, business analytics was used to forecast order demand and recipes to avoid product spoilage and to complete orders efficiently. Algorithms taking into account customer-related features, recipe-related features, and seasonality features were used alongside a regression analysis to make forecasting models.
Learn more right here HBS Business Analytics Article
Thank you for reading,
Val Misra, MBA
Founder @ MBA Accepted