Management and Leadership
Big Data 4Dx
Dates: Oct 15-16, 2013
Certificate Track: Management and Leadership
NEW FOR 2013
Big Data 4Dx is a new, live, online offering of our popular Big Data program. Participants in this online session will attend, in a virtual environment, the live session of Big Data being held on campus on October 15-16, 2013. The online program will be conducted in conjunction with the on-campus session, and will feature the same faculty, content, discussions, and exercises.
Big Data: Making Complex Things Simpler
"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."—Erik Brynjolfsson
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 program prepares you to understand and lead this revolution in your organizations by:
collecting many different forms of information gathered from inside and outside your organization
developing new knowledge from that information, for example, discovering patterns of customer behavior
using this information in a collaborative way to improve both productivity and strategic decision making in real time
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.
Learn about the online classroom experience.
Participants in this program will learn:
How several key technologies and applications are driving the big data revolution.
How nanodata and nowcasting can be used to improve forecasts and predictions
Common pitfalls in using big data
The design of controlled experiments to sort out causality
Specific case examples from retailing, marketing, real estate, human resources and other applications
How to recognize opportunities in your own industry or function
The organizational and cultural complements and inhibitors to the data-driven decision-making.
How to use the Matrix of Change tool to plan and executing a transition to a data driven organization
The roles of privacy and data ownership
- Develop a concrete action plan
"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
Big Data 4Dx is designed for senior executives and managers interested in learning more about the big data revolution and how they can use big data in their own organizations. Participants include:
Chief Marketing Officer
Customer relationship people
- Web Analytics
This new online offering of the Big Data program will give people who might not otherwise be able to travel to MIT the opportunity to attend online and experience first-hand the value of MIT executive education programs.
Eric Brynjolfssen and Sandy Pentland conducted an exceptional class with their unique, upbeat and insightful style. I loved the course content, its relevance to the business, and application. Most importantly, this course served as an awareness tool in the Big Data world. Every major organization is focused on structuring their Big Data initiatives, getting consulting firms to support their needs and plan for now and ahead. There was some excellent pre-read material the instructors recommended. Most of the pre-read materials were from different known subscriptions and MIT's research. The 4Dx experience was a unique experience. I had to undergo a few iterations of ensuring that the headset, sound system and my avatar were all functioning well ahead of the actual class. Thanks to MIT's highly responsive and helpful program manager, Christine Mansella, who ensured the experience was positive. If I have to take this course again, I would like to have an in-person experience as the instructors were in the real class room and would be in and out of the 4Dx class-room. Despite that little annoyance, the 4DX world very enthusiastically jumped on attending all breakout and case study discussions. We had some fun along the way - the very experience of connecting, listening and sharing our experiences and insights with distinct avatars from different parts of the world was a very sweet bonding experience. Another interesting factor was that the avatars could share 5-6 different emotions/motions - jump, clap, express excitement, raise hands, nod and so forth. The key take-away from this class was thought-provoking substance that lit all the bulbs of knowledge and awareness and helped the knowledge seekers connect the dots to define the next generation of business transformation. Highly recommended course! Hats off to the faculty for captivating their audience with insightful and relevant content.
A well executed program! I attended through the online channel, and was able to learn and interact with my colleagues seemlessly. Support staff and program management were proactive and effective in making the online experience positive. Highly recoomend this program.
4Dx was a rewarding experience in itself outside of the excellent and well thought out content. Specifically Re; 4DX: 1) Christine and Paul made 4DX a soothing visit with their constant nurturing remarks ;) on what keys to press and interactive feedback on comments in the physical and 4DX world Course Content & Discussions: 2) Sandy simply rocks! His factual and brief comments were thought provoking and broad based. Erik's content was well put together and somewhat deeper. I found myself scribbling notes in 4DX world and am grateful for the opportunity to have soaked in topical content! Given the short duration both Sandy and Erik covered an impressive breadth of topics. Thank you for offering this on 4DX this time as I would have not had an opportunity to attend otherwise.
The program was excellent overall - I learned quite a bit. Although I didn't see a lot of practical ways to implement the analysis, gathering, crunching and real-time reporting of big data, I understand that this is all new to everyone including to the presenters. Perhaps the next program could add at least a couple more business cases from companies such as Klout and Business Objects that are either managing big data and/or providing tools to manage it. But, the overall course information, the caliber of the presenters and the virtual 4D experience was top notch! Fantastic experience.
Very good program, recommended.