Prof. Vasant Dhar Examines the Importance of Business Analytics in Companies

vdharWith more data available to tap than ever before, many corporations are looking to hire employees with business analytics skills. MSBA Professor Vasant Dhar recently spoke with Treasury and Risk to examine why business analytics is becoming increasingly important to companies:

“The amount of data that’s being generated just doubles every year,” said Vasant Dhar, a professor and head of the information systems group at NYU’s Stern School and co-director of Stern’s Center for Business Analytics. “In the old days, data was something that was collected painfully and there wasn’t too much of it. Now we’re in an age where everything is recorded almost as a by-product of how we function.

“The fact there’s so much that’s out there and available opens up a whole new world of possibilities and risks,” he added. “This is the new math; it’s a new way of functioning and thinking about the world.”

To read the entire article, click here.

Posted in Big Data, Business Analytics Tools, Center for Business Analytics, Data Mining, MS in Business Analytics | Tagged , , , , , | Leave a comment

Prof. Arun Sundararajan Examines How the Sharing Economy Can Help Cities Prepare for Events

city labProfessor Arun Sundararajan recently examined how investments in the sharing economy can help cities prepare for large events, as part of a CityLab discussion on the hotel and tourist infrastructures in cities hosting the World Cup.

Cities can invest in “invisible infrastructure,” said Arun Sundararajan, professor of information sciences at New York University, “without having to spend on steel and concrete.”

To learn more about how the sharing economy can help drive down prices for events, click here.

Posted in Data Visualization, Entrepreneurship, Optimization, Sharing Economy, Social | Tagged , , , , | Leave a comment

Prof. J.P. Eggers Examines the Evolution of Tech Companies

JP EggersMSBA Professor J.P. Eggers recently sat down with NewCo Chairman John Battelle to discuss “Tech Darwinism” and the evolution of technology companies on Bloomberg. Professor Eggers examined the fast-moving life cycle and industry dynamics that may cause disruptions for older companies.

The following is an excerpt from the discussion:

The cycle certainly seems to be faster. The pattern is still relative to what we see in other industries. The challenge is that, in many industries, the dynamics just don’t move as fast. Things don’t replace new technologies, steel and airlines and things like that, as often, whereas in the tech world, the life cycles are much more compressed. But the same basic pattern shows up whether we look at manufacturing or retail or technology.

To watch the full video, click here.

Posted in Center for Business Analytics, Entrepreneurship, Technology, Uncategorized | Tagged , , , | Leave a comment

Prof. Anindya Ghose Interviewed by Fox TV

NYU Stern MSBA Professor Anindya Ghose was recently interviewed by Alison Morris of Fox TV, examining whether or not a tech stock bubble currently existed.

Professor Ghose disagreed with the presence of a bubble, arguing instead that while some stocks may have astronomical valuations, the current tech boom is very different from that of 1999-2000. He also commented that social good can come out of tech bubbles, despite some damage:

There’s a lot of good that came out of the 1999-2000 dot-com bust. E-commerce is what it is today because of what we’ve learned from our mistakes in the past. There is collateral damage- investors lost, but society benefited. 

To watch the entire interview, click here.

Posted in Center for Business Analytics, Entrepreneurship, Mobile, Technology | Tagged , , , , , | Leave a comment

Prof. Arun Sundararajan Discusses Technology’s Impact on the Future of Business

asundaraNYU Stern MSBA Professor Arun Sundararajan was recently interviewed by Matt Gordon of Pivot, a conference that explores the problems faced by today’s most active Social Businesses. He discussed potential disruptions to the commercial real estate, healthcare and energy industries, and examined the social and economic changes made possible by the changing digital business landscape:

I see a shift in the dominant model of company ownership – right now the US is at a point where a vast majority – a very large fraction of economic activity is conducted by businesses that are shareholder corporations – traditionally public traded companies or privately-backed private companies.  I think that mix is going to change substantially in two ways.  One way in which it will change is that we will see a lot more independent businesses –a lot more individual owners of some production or service that creates economic value.  I also think that we will be experimenting with a wide variety of new co-operative business ownership models.  I don’t know for sure whether any of these are going to be successful or as dominant as shareholder corporations but it’s certainly going to be an interesting time.

To read the entire interview, click here.

Posted in Business Analytics Tools, Center for Business Analytics, Entrepreneurship, Predictive Analytics, Sharing Economy, Social | Tagged , , , , , , | Leave a comment

Prof. Sundararajan Shares Insight on Taxi Sharing

New York City Taxis (via Flickr)

New York City Taxis (via Flickr)

Although car-sharing companies such as Uber and Lyft already offer alternatives to traditional taxis, new taxi “ride-sharing” programs have the potential to revolutionize New York City’s transportation system. By sharing a taxi with strangers travelling in the same direction, taxi companies can save on service costs and pass these savings onto consumers.

Yet, while ride-sharing is beneficial to the city’s transportation infrastructure at large, these programs may also offer benefits to passengers’ personal well-being. In a recent Newsweek article, MSBA Professor Arun Sundararajan shared his insight on how human connectedness may be impacted by ride-sharing technologies:

In a world where technology and efficiency have provoked greater loneliness, something as simple as sharing a ride in a taxi may improve our health and well-being. Arun Sundararajan, a New York University professor specializing in the digital economy, says that while technological progress yields greater institutional efficiency, “a byproduct is a growing drop in the level of connectedness people have.” Sundararajan points to studies that show loneliness can have negative health effects. But there might be a way to counteract this depressing fact of contemporary life.

The sharing economy, he says, can “bring back that human connectedness into economic interactions that used to be individual, isolated, solitary and faceless.”

To read the entire article, click here.

Posted in Entrepreneurship, Mobile, Sharing Economy, Social | Tagged , , , , | Leave a comment

Prof. Ghose Examines Apple’s Move into Mobile Payments

Tim Cook

Could Apple Pay be the service that leads to widespread adoption of the so-called mobile wallet? (AP Photo/Marcio Jose Sanchez, File)

With a jump into the mobile-payments market, Apple’s newest release may foster an ecosystem that fuels demand for its own products. By combining mobile payment services with the popularity and ease-of-use of its current technologies, Apple can cement its products even further into the fabric of their customers’ lives.

Recently, Professor Anindya Ghose shared his thoughts on Apple’s move into the mobile-payments with Peter Burrows of Bloomberg Business Week. An excerpt can be found below:

Apple Inc. (AAPL:US) is jumping into the mobile-payments market just as retailers upgrade their cash registers to be more secure and ready to receive wireless transactions.

“It sounds like fiction, but it’s going to be fact,” said Anindya Ghose, a professor of marketing at New York University’s Stern School of Business.”

Read the full article on Business Week here.

Posted in Marketing & Advertising, Mobile, Sharing Economy, Uncategorized | Tagged , , , , , , | Leave a comment

MSBA Student Bennett Borden on How Data Science is Speeding Up Lawsuits

The following is a Legal Borden, BennettTalk Network interview with MSBA Class of 2015 student Bennett Borden. Bennett spoke with Legal Talk Network about data science advancements in the legal field and their impact on litigation procedures. Bennett referenced how descriptive analytics are entering the new area of predictive analytics, as companies review patterns from past legal infractions to learn about future prevention methods. Borden asks the question: how do companies get value out of the information they own?

Bennett Borden is the Chair of Information Governance at Drinker Biddle & Reath LLP.

 

 

Posted in Business Analytics Tools, Data Mining, MS in Business Analytics | Tagged , , | Leave a comment

Faculty Publication: Anindya Ghose on Crowdfunding and Privacy

The following is an abstract of NYU Stern Professor Anindya Ghose’s recent forthcoming publication in Management Science: “The Hidden Cost of Accommodating Crowdfunder Privacy Preferences: A Randomized Field Experiment”

aghose

In this paper, my co-authors and I examined online crowdfunding behavior related to user’s privacy controls. As you know, crowdfunding has received a great deal of attention from entrepreneurs and policymakers as a promising avenue to fostering entrepreneurship and innovation. A notable aspect of this shift from an offline to an online setting is that it brings increased visibility and traceability of transactions. Many crowdfunding platforms therefore provide mechanisms that enable a campaign contributor to conceal his or her identity or contribution amount from peers. So we studied the impact of these information (privacy) control mechanisms on crowdfunder behavior. Employing a randomized experiment at one of the world’s largest online crowdfunding platforms, we found evidence that offering users information control provides both positive (e.g., making users feel comfortable) and negative (e.g., priming users to have privacy concerns) causal effects. We found that reducing access to information controls induces a net increase in fundraising, yet this outcome results from two competing influences – an increase in willingness to engage with the platform (a 4.9% increase in the probability of contribution) and simultaneously a decrease in the average contribution (a $5.81 decline). We found that this decline derives from a publicity effect, wherein contributors respond to a lack of privacy by tempering extreme contributions. We thus were able to unravel the causal mechanisms that drive the results and discuss the implications of their findings for the design of online platforms.

You can read the full paper here.

Posted in Center for Business Analytics, MS in Business Analytics, Social | Tagged , , , | Leave a comment