Transcript A Survey of Consumer Perceptions on Medical Tourism (2011 study)

Teaching Statistics Courses in the
Wave of Business Analytics
Zhixin (Richard) Kang
Lydia Gan
Department of Economics & Decision Sciences
University of North Carolina-Pembroke
The 47th SEDSI Annual Meeting
March 22-24, 2017
Doubletree by Hilton, Charleston, SC
 Business
Analytics & Data Science -next big trend in the near future
 IBM
 SAS
 Walmart
 Amazon.com
Business Analytics is expected to grow:
 Evolving Business World
 Faster & better decision making
 Cost reduction
 New products & Services
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Auburn University revamped Business Stat courses,
renamed Business Analytics, & removed Calculus from their
Business curriculum.
Arkansas Tech U offered a Business Data Analytics degree
program. Partnered with ??? To develop curriculum.
“Should a traditional Business Statistics course be
revamped to cover more business analytics related
content?”
A task force was set up to address the question.
 Business
Statistics serve as core courses in
most business schools.
 Other business courses: Accounting,
Finance, Management, and Marketing use
statistical tools for business analysis.
 E.g. Marketing courses often use twosample hypothesis testing to compare two
different customer groups’ purchasing
behavior
 E.g. Operation management courses use a
linear regression model to make forecasts.
Business Statistics covers
fundamental yet important
statistical concepts, principles, &
tools, which are used in data
analytics.
 E.g. Linear regression modeling
lays a foundation for statistical
inference in data analytics
 Hypothesis testing is a key element
in machine learning
 Random sampling technique is
used for pattern identification in
data mining.
 The traditional content of Business
Statistics courses should be
maintained.

 Higher
level Business
Statistics courses should
apply more statistical tools in
real data & real business
scenario analysis.
 E.g.
Us of more case studies
& analysis using software
such as EXCEL should be a
significant component in a
Business Statistics course.
 The
taskforce concluded that
Business Statistics should be the
prerequisite courses for courses in
Business Analytics – if such a
major/minor/certificate was to be
offered at undergraduate level.
 Due to its quantitative content at an
advanced level & hiring freeze, we
instead proposed a Business
Analytics concentration in the MBA
program.