Learn what big data is, how to get it, and how to use data about individual behavior to elevate a company’s level of performance. Big data—especially data about individual behavior and how it is impacted by interaction with others—gives valuable insight into a variety of business scenarios. The frameworks taught in this program constitute a new kind of "R&D" that draws on the strengths of digitization to speed innovation, increase customer loyalty, and improve execution.
Big Data: Making Complex Things Simpler
Certificate Track: Management and Leadership
Location: Cambridge, Massachusetts
Tuition: $3,300 (excluding accommodations)
Program Days (for certificate credit): 2
"In the past, IT worked primarily with finance to run reports, which were often used to justify decisions leaders had already made. That is changing with big data. Managers are analyzing enormous data sets to discover new patterns and running controlled experiments to test hypothesis. Decision making that was once based on hunches and intuition is now driven by data and knowledge."
Today, businesses can measure their activities and customer relationships with unprecedented precision. As a result, they are awash with data. This is particularly evident in the digital economy, where clickstream data give precisely targeted and real-time insights into consumer behavior, but leading edge companies in every industry are using big data to replace intuition and guesswork.
This new executive program prepares you to understand and lead this revolution in your organizations by:
Collectively, the practices taught in this program constitute a new kind of "R&D" that draws on the strengths of digitization to speed innovation, increase customer loyalty, and improve execution.
Based on research in MIT's Media Lab and the MIT Center for Digital Business, Professors Erik Brynjolfsson and Sandy Pentland will explore how big data changes the way IT interacts with the rest of the organization, cutting across business units and functions to create new value, and how it can have a huge impact on business results. They draw on the world-leading research that has made the big data revolution possible.
Through examples, case studies, and discussion in buzz groups, participants will learn how organizations are using big data effectively in fields as diverse as marketing, retailing, branches of government and healthcare. The program will encourage participants to apply these concepts in the context of their own organizations—including defining problems that could benefit from the application of big data concepts, brainstorming sources of data, and designing experiments to collect and analyze data in ways that are acceptable to customers—to create new value.
Participants in this program will learn:
"You should think of data roughly the way you think of money—it’s something you own, it’s something you can loan to people, but you want to get something back in exchange for it—such as a more useful search engine or real-time traffic information." —Sandy Pentland
This program is designed for:
Sample Schedule—Subject to Change
|DAY 1 SAMPLE|
|07:45AM - 08:30AM||Registration and Continental Breakfast|
|08:30AM - 09:00AM||Welcome and Introduction|
|09:00AM - 10:30AM||Overview: The big data revolution; the payoff from data-driven decision-making; how digitization is transforming innovation|
|11:00AM - 12:30PM||Information flows: within companies; patterns of information; integration of distance workers|
|12:30PM - 01:30PM||Luncheon|
|01:30PM - 03:30PM||Three case studies: using Google searches to predict the housing market; using email and sociometric badges to understand information worker productivity; using experiments to understand causality in advertising|
|04:00PM - 05:15PM||Using behavior to guide marketing: digital breadcrumbs; stratifying; real estate management; mobile marketing; predicting rate of adoption based on social networks|
|05:15PM - 06:00PM||Reception|
|DAY 2 SAMPLE|
|07:45AM - 08:30AM||Continental Breakfast|
|08:30AM - 09:00AM||Welcome Back and Preview of Day 2|
|09:00AM - 12:00PM||Organizational, social and cultural considerations; Matrix of change exercise; How to get access to the right kind of data; Social network data (organic growth); Data design|
|12:00PM - 01:00PM||Luncheon|
|01:00PM - 03:30PM||Social network data (organic growth)-social networks and trust networks; the future of big data; a plan for action|
|03:30PM - 04:00PM||Adjournment|
Can scientists prove whether individual behaviors, such as eating or exercise habits, are contagious? Research from Alex 'Sandy' Pentland, Professor of Media Arts and Sciences and the Director of the Human Dynamics Lab at MIT, shows that may be possible.VIEW
Sandy Pentland, MIT professor, talks to the Guardian about the ‘crowd-madness’ of social media and why tech giants such as Google must separate and protect users’ dataVIEW
While companies on the leading-edge of using Big Data are more productive and profitable than their competitors, many firms are not yet familiar with this new form of R&D. To help more managers understand this area and learn best practices, MIT Sloan School of Management is expanding its popular Big Data executive education program, offering an on-campus and virtual 4Dxclassroom format.
Read this Financial Times article by Erik Brynjolfsson.VIEW
MIT professors Erik Brynjolfsson and Andrew McAfee have just published their book "The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies," which looks at the impact of technology on society, and discusses the role technology plays in work and inequality.VIEW
Erik Brynjolfsson and Andrew McAfee, both at MIT's Sloan School of Management, are co-authors of The Second Machine Age. As the worldwide slump stretches into its sixth year, we hear ever-louder and more insistent cries that we've reached the end of innovation, and that growth is dead. Don't believe them.VIEW
The Second Machine Age and the future of enjoying your job.VIEW
Congratulations. You bought into Big Data and its paying off big time. You slice, dice, parse and process every screen-stroke, clickstream, Like, tweet and touch point that matters to your enterprise. You now know exactly who your best and worst customers, clients, employees and partners are. Knowledge is power. But what kind of power does all that knowledge buy?VIEW
A decade ago, MIT professors Erik Brynjolfsson and Andrew McAfee would have told you that driving a car is something machines just cant do.Now the two zoom down Route 101 in a self-driving vehicle, marveling at the mundanity of watching a machine do its work.VIEW
In The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies, co-authors Erik Brynjolfsson and Andrew McAfee discuss how the world is adapting to the changes brought about by rapid digital innovation and the further possibilities for that innovation. They write that "the key building blocks are already in place for digital technologies to be as important and transformational to society and the economy as the steam engine." In short, they compare the potential of this era to that of the Industrial Revolution.VIEW
Kevin M: A terrific overview of what Big Data really means supported by relevant case studies. A great way to get introduced to Big Data
David K: Interesting content but it mirrored pre-readings with little new information. While this industry is new, there was little to no application presented to impact our current work environment.
Leonardo F: Of all the courses I had this one is by far the best! Faculty is top-of-the-field and it was greatly balanced for the whole duration of the program. Lectures and inter-active exercises are perfectly intertwined with no chance given to boredom. Topic itself is extremely exciting and evenly distributed throughout its economical, social and business applications. Course material is powerful and really engaging as well as "right-out-of-the-press" complimentary books. Last but not least, having the class at MIT Lab is definitively a plus that no other course has so far. On my company internal blog I shared this same appreciation and invited other people to attend. For all those who wants to be part and lead the new industrial revolution of "Big Data" this course is a must!
Catherine F: This course presented contemporary views on implications and opportunities that come with the big data move in he industry. The professors were dynamic, interesting and relevant. Materials were well developed and engaging. This is the first class for me that did not provide the PPT ahead of time. Too bad...it's nice to take notes or highlight points as you go along. I think it could actually have been a 3 day course with the 3rd day turned to a workshop where teams work together to frame-up some problems to solve or specific situations they have an opportunity to address. As an aside, this was the youngest crowd I have seen at a class. My sense is it was also the least senior. This was not an executive program but rather a 'game changers' program - IMHO. We had very good, diverse, thoughtful conversations at our table. This was by far my favorite class in the program. Relevant, contemporary, eye-opening, mind expanding... Thank you to Sloan, the students, and the professors.
Caswell S: The depth and quality of the material provided insights and framework that one can leverage to understand and leverage Big Data maybe in ways that you had not considered before. The Professors were awesome! The incorporation of Avitars for students that attended on-line was a fascinating interaction to observe.
Claudia L: the combination of off-line was online disturbing and did not do anybody justice. the rest was cool even if many sessions are more informative than "to be used".
Bramwell K: We got to know the wide range of applications of "Big Data". I wish I had won more insights in a detailed case study (project procedures, costs, IT architectures and used software tools). Also exciting were not expected topics such as "social learning".
Grace H: Course content felt dated with old research and older concepts. Disappointed there was not more "how to" on processing complex data sets. Or more modeling and technology on big data. Class discussions and classmates were great.
Julio Mario L: It would be useful to have a demo about how to collect and treat Raw data and the strategies to reduce the data set. This course coulde be allocated at MIT Campus .
Kevin E: Great program! A couple of sets of feedback; 1. If the ppts could be uploaded rather than pdfs of presentations, that would be more effective. The ppts that Erik and Sandy had animations on them and the pdfs don't take the animations or build slides so the pdfs were missing info 2. Any way we could be on the MIT campus rather than a hotel? Feel as though the campus experience adds to the learning. Thanks!
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Alex "Sandy" Pentland is among the most-cited computational scientists in the world, and a pioneer in organizational engineering and mobile computing.
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