The need in today’s enterprises is to improve decision-making across all industries and Lines of Business. The advent of advanced technology, cheaper high-speed, high-density storage devices and distributed computing-power allows new sources of data to be captured, communicated, aggregated, stored and processed without precedent. The accelerator for today’s better-informed decisions in organizations and society is Business Analytics (BA). The foundations for BA are shorter compute-visualize cycle and better integrated massive data sources, a wealth of knowledge mostly borrowed from statistics and optimization disciplines for analysis, and finally, innovative modeling of enterprise and inter-enterprise operations.
Early adopters of BA equipped with suitable and actionable data have not only improved their decision-making, but also boosted higher expectations on the discovery of new productivity gains, the design of new ideas for growth and the provision of better services for customers and employees. Enterprises today are witnessing a new wave of rapid BA deployment and encouraged by government multi billion investment in areas such as High-Performance Computing and Big Data initiatives. These forces are a major source of productivity improvement and growth in the economy.
Given the impact brought by Business Analytics and the aim of sharing hands-on expertise, LIST has formed a team covering related ground for different applications of Business Analytics in Luxembourg, including Regulatory Compliance Technologies. This team is devoting all its resources to conducting applied research work with industry partners. These partnerships range from growth initiatives to assessing the quality of business processes and services.