SYS-CON MEDIA Authors: Xenia von Wedel, Peter Silva, Glenn Rossman, Ava Smith, Elizabeth White

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MIT Sloan Executive Education Teaching Leaders How to Use Big Data for Strategic Decision-Making

This July, MIT Sloan Executive Education offers executives the opportunity to harness the strategic power of big data with MIT faculty, Erik Brynjolfsson, Alex (Sandy) Pentland, and Tom Davenport. Big Data: Making Complex Things Simpler brings together the world’s preeminent thinkers and award-winning faculty to explore the benefits of using big data, the most effective ways to use it, and how to avoid common pitfalls. The program runs from July 9-10, 2014 in Cambridge.

Based on proprietary research conducted by the MIT Media Lab and MIT Center for Digital Business, the two-day seminar will look at how big data can have a major impact on business results. It will encourage participants to apply Big Data concepts in the context of their own organizations, including defining problems in their own organization 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, and create new value. Participants will explore how leaders can make sense of big data, how they can use it effectively to gain valuable insight into customer behavior, and how to ultimately improve relationships between customer and stakeholders. The program will also examine the pitfalls of working with big data, and how to avoid common mistakes in its interpretation.

Executives will have an opportunity to discuss and share insights with faculty who are among the most widely respected thought leaders in the field. Together, they will explore sources of data and design experiments to collect and analyze information that actionable for their respective industries.

“Big data is fundamentally changing the way we manage,” said Erik Brynjolfsson, professor of Management Science and Information Technology. “The availability of vast amounts of good data is making it possible for managers to make much more data-driven decisions and therefore make their organization more productive. We’ve seen that data-driven companies are at least six percent more productive than their competitors. With demonstrable results across organizations, why are some harnessing data effectively while others continuing to rely on guesswork?”

Brynjolfsson is director of MIT’s Center for Digital Business and co-author of Race Against the Machine: How the Digital Revolution is Accelerating Innovation, Driving Productivity, and Irreversibly Transforming Employment and the Economy. Pentland directs MIT’s Human Dynamics Laboratory and the MIT Media Lab Entrepreneurship Program, and also advises the World Economic Forum, Nissan Motor Corporation, and a variety of start-up companies. Davenport is the President’s Distinguished Professor of Information Technology and Management at Babson College, the co-founder of the International Institute for Analytics, a Fellow of the MIT Center for Digital Business, and was named one of the top 50 Business School Professors in the World. His is the author of Big Data at Work: Dispelling the Myths, Uncovering the Opportunities.

Developed for non-IT professionals, Big Data: Making Complex Things Simpler is offered to entrepreneurs and professionals in senior management positions, including those in marketing, business intelligence, government security, and web analytics. Open enrollment has begun and those who participate are eligible for credit towards an MIT Sloan Executive Certificate. To enroll, interested professionals should visit the MIT Sloan Executive Education website.

About MIT Sloan Executive Education

MIT Sloan Executive Education programs are designed for senior executives and high-potential managers from around the world. From intensive two-day courses focused on a particular area of interest, to executive certificates covering a range of management topics, to custom engagements addressing the specific business challenges of a particular organization, our portfolio of non-degree, executive education programs provides business professionals with a targeted and flexible means to advance their career development goals and position their organizations for future growth.

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