BAM: developing a business analytics methodology, including a business ethics canvas -- talk by Dr Giles A Hindle (University of Hull) Event

Event details

Organisations are exploring how to get value from analytics to transform their organisations and business models. Being good at analytics and predictive modelling is not enough unless it is accompanied by an understanding of the business model, the sources of value, and the opportunities for transformation. To meet this need the Business Analytics Methodology (Hindle and Vidgen 2018) has been developed through iterative application in practice. BAM draws on soft systems methodology and the business model canvas for business model mapping and value identification. Analysis of the business model is used to identify opportunities for analytics, which are classified in a matrix according to potential for value creation and viability – those opportunities that are high in value and viability are the focus for analytics development. Analytics models are the pivotal point between business value and data; they are the means through which data is made into information. Rather than drive the analytics process bottom-up from data or top-down from the business model and value sources, BAM argues that both are needed, i.e., an ambidextrous ability to explore (e.g., to find new opportunities and patterns in the data) and to exploit (e.g., to drive analytics models from known business issues and opportunities). A recent development within BAM has been the creation of a Business Ethics Canvas (Vidgen and Hindle) to assess the ethical aspects of data science and artificial intelligence.