FP_76105.PDF

If you imbed it…? Don Price, Metropolitan State College of Denver, CO

ABSTRACT

Businesses and organizations, faced with ever increasing competitive pressures, need to make better decisions. Better decision making requires superior analytics – the extensive use of data, statistical, quantitative, and qualitative analysis, exploratory and predictive models, and fact-based management. These same companies are faced with a growing talent shortage – a shortage of skilled analysts. Recent anecdotal articles and academic studies highlight the need to incorporate contemporary information technology developments in the practice of marketing. This paper provides insights into the efforts of Metropolitan State College of Denver to incorporate these developments into undergraduate marketing studies by imbedding the subject of analytics into marketing curriculum.

PURPOSE

The purpose of this paper is to share the efforts of Metropolitan State College of Denver (MSCD), Department of Marketing‘s journey to imbed analytics in their marketing curriculum, preparing marketing students for today‘s job market.

INTRODUCTION

In 1965, in an article ―Marketing Intelligence for Top Management‖, William Kelley wrote

Today, by contrast, the business executive often feels ‗snowed under‘ by the deluge of facts, figures, surveys, censuses, articles and so on that pile up on his desk. To make matters worse, his own organization is busy generating such a plethora of operating, figures, reports, staff studies, and the like that he finds it virtually impossible to read, let alone digest, them. Yet he is always haunted by the feeling that he has overlooked some important report or study that might make a vital difference to the welfare of his firm (p. 19).

Sound familiar?

Businesses, governments, and nonprofits have been accumulating data--reams of data—for years. What have they done with all of the data? Mostly nothing. But that is changing. A few of these organizations have found that by analyzing the available data they are able to take advantage of these vast resources. They have found that competing with analytics gives their company a competitive advantage in the marketplace. And now, a growing number of organizations are getting onboard with analytics (Davenport & Harris, 2007). In the 1967 movie, The Graduate, Benjamin Braddock (played by Dustin Hoffman) is advised that the future was in ―plastics‖. Today, in a re- make of ―The Graduate‖ the line should be changed to the future is in ―analytics‖!

Organizations are competing on analytics not just because they can but because they should. At a time when firms in many industries offer similar products, use comparable technologies, business processes are among the last remaining points of differentiation. Like other companies, they know what products the customers want, they also know what prices they will pay, how many items each will buy in a lifetime, and what triggers will make people buy. Like other companies, they know compensation cost and turnover rates but they can also calculate how much personnel contribute to or detract from the bottom line. Like other companies, they know when inventories are running low but they can also predict problems with demand and supply chains, to achieve flow rates of inventory at high rates of perfect orders.

The U.S. Bureau of Labor , Department of Labor, Occupational Outlook Handbook 2010-2011forecasts an increase demand (13-30%) for occupational fields with a particularly strong need for analytics skills through 2018. A 2010 Forrester Research study showed that business analytics is the fastest growing category of global information technology (IT) software expenditures, and approximately 69 percent of businesses are interested in using analytics.

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Employment of market research analysts is expected to grow by 28 percent, much faster than the average, over the 2008-18 decade. Market research analysts will experience much faster than average job growth because competition between companies seeking to expand their market and sales of their products will generate a growing need for marketing professionals. Marketing research provides organizations valuable feedback from purchasers, allowing companies to evaluate consumer satisfaction and adjust their marketing strategies and plan more effectively for the future. In addition, globalization of the marketplace creates a need for more market researchers to analyze foreign markets and competition.

What is Analytics?

Analytics is the processes of taking existing data collected from either a single source or multiple sources and use it to arrive at the optimal decision. Using sophisticated analysis and business data to enable fact-based decision making at every level of your organization, analytics can drive superior performance – from customer management to the supply chain to product/service development to strategic planning. In their book, Competing on Analytics, Davenport and Harris (2007) defined analytics as ―the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions‖ (p. 7).

Analytics can be performed using paper, a pencil, and a calculator. However, with the current state of information technology, a person using analytics today should consider a variety of available software tools. Analytical software packages range from relatively simple statistical optimization tools and (Excel), to statistical software packages (e.g., , PSPP, DAP, ), to complex business intelligence suites (SAS, Cognos, and Business Objects), predictive industry applications (Fair Isaac), and the reporting and analytical modules of major enterprise systems (SAP and Oracle).

Who needs analytics?

Today‘s businesses are rapidly generating and accumulating vast amounts of data. This data needs to be transformed into information and provided to the right person to make a decision. Faced with ever increasing competitive pressures, organizations need to make better decisions. Better decision making requires superior analytics – the extensive use of data, statistical, quantitative, and qualitative analysis, exploratory and predictive models, and fact-based management.

Government organizations and agencies use analytics to enable and drive their strategies and performance in increasingly volatile and turbulent environments. Analytics and fact-based decision-making can have just as much or even more of a powerful effect on government functions as on corporate business objectives. The use of analytics by federal, state, and local governments can be strategic, supporting or even driving the accomplishment key missions and objectives, or tactical (Davenport & Jarvenpaa, 2008).

Nonprofit organizations, like their for-profit counterparts, use analytics to enable and drive their strategies and performance. From fund-raising, marketing, program analysis, to program process improvement, analytics play key roles in accessing data, transforming the data into information, and using the resulting information to make evidence- based decisions.

Business, government, and nonprofits share a common need: individuals to analyze the data! According to Davenport, Harris, and Morison (2010) computers and data drive analytical decision making but it is the people that drive analytics. ―Finding, developing, managing, and deploying analysts – the people who make the day-to-day-work of such organizations possible – is critical to a firm‘s success‖ (p. 91).The need to produce undergraduates that meet the requirements of employers is recognized by institutions of higher education world-wide (Elrod, Flachsbart & Kehr, 2009; Kalu, 2010).

Imbedded: A Definition

According to the Oxford Dictionary, imbedding (embedding) is ―implanting (an idea or feeling) within something else so it becomes an ingrained or essential characteristic of it‖. For the purpose of this paper, imbedding refers to aligning analytic objectives with learning outcomes of an academic course or program in the marketing curriculum. Imbedding requires teaching, learning, and assessment strategies where students have a seamless ongoing interaction and reflection with analytics. Therefore analytics is to be woven into curriculum content, structure, and sequence.

Why is Analytics to be ‘Imbedded’ into the Marketing Curriculum?

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Analytics is to be imbedded in MSCD Marketing Department courses rather than treated as a separate elective or required course (McBane, 2003; Hannaford, Erffmeyer & Tomkovich, 2005; Elrod, Flachsbart & Kehr, 2009). Research suggests that students are more likely to engage and retain knowledge if it is imbedded and contextualized (Schunk, 2000; Freudenberg & Lupton, 2004). The expectation is that imbedding will encourage students to value the importance of analytic skills in the marketing discipline and see their link between educational content and professional practice (Shoemaker, 2003). The objective is to motivate students and encourage a deeper level of understanding of marketing analytics.

How Analytics became Imbedded into the Marketing Curriculum?

The decision to imbed analytics into the marketing curriculum, in hindsight, was the easy part. How best to implement the decision has been more challenging. In academia, a review of literature on the topic of interest is a generally accepted practice. Specifically, a review was initiated with a focus on marketing and technology. Not surprising, academic literature contained very little on the subject. However, two papers identified in the review focused on technology champions (McCorkle & Reardon, and 2001; Granitz & Hugstad, 2004). The search was extended to look for other strategies for delivering technology to students. From this search several articles were found regarding information literacy coupled with a discussion of imbedding the learning process (McBane, 2003; Hannaford, Erffmeyer & Tomkovich, 2005). At this point, technology champion and imbedding became the focus of this paper.

In their article, McCorkle, Alexander, and Reardon (2001) state, ―basic and discipline-specific technological competencies are needed by marketing and business school faculty, students, and their employers‖ (p. 16). Their research suggested that ‗hit-and-miss processes, with limited budgets, lack of administrative and/or faculty understanding, and sometimes severe reluctance on the part of faculty to adopt have interfered with the achievement of the goal‖ (p. 16-17) – to integrate marketing and technology. McCorkle, et al. recommended the use of a technology innovator. ―These technology innovators are often the champions of new technologies and provide the impetus for others to follow suit‖ (p. 20). Markham and Aiman-Smith (2001) defined a champion as an individual who ―recognizes a new technology or market opportunity as having a significant potential; adopts a project as his or her own; commits personally to the project; generates support from other people in the organization; and advocates vigorously for the project‖ (p. 45).

In 2004, Granitz and Hugstad extended the work of McCorkle, et al. by recommending a single course become the technology champion course using a three step process (p. 212):

1. Identify the technology champion course

2. Develop internet-specific activities in the technology course that meet the marketing education objectives

3. Diffuse these activities to other marketing courses

The Marketing Department had a course that fit the description Granitz and Hugstad had suggested. It was called ‗Electronic Marketing‘. It was agreed that this course would be the technology champion course. However, as the project moved forward, and two semesters later, it was clear that the course was appropriate for an introduction to the joining of marketing and technology. However, the course was not going to meet the challenge of diffusing marketing technology to other marketing courses (McBane, 2003, p. 5). Back to the review of literature; this time the search was extended to other academic areas.

This extended search led us to field of information literacy and the efforts of institutions of higher education to provide support to students based on the principals of collaborative learning, individualized instruction, and the use of technology. Their stated outcomes included strengthening students‘ confidence, facilitating students‘ understanding, and helping to ensure students‘ success. Several programs, involving information literacy, were identified. One such program, Project Excel, Centers for Excellence, is located at the University of Colorado, Colorado Springs. Although the focus of the project is information literacy, its goals align very closely with the desired outcomes for a marketing analytics project.  Analytics Champion  Student Support  Faculty Support  Institutional Support and Collaboration  Business Support and Collaboration  Community Support and Collaboration

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As the Marketing Department continues to develop the Center for Marketing Analytics Excellence project we recognize the benefit of providing real-world experience (Karns, 2005, p. 170). By using the centers of excellence concept, an emerging corporate strategic asset used for managing complex change, students become familiar with and provided real-world experiences.

CONCLUSION

The Center for Marketing Analytics Excellence (CMAE) project is the first step in the continued effort by the Marketing Department to imbed (embed) analytics in the marketing curriculum at MSCD. The work of the faculty is to not only integrate the activities of the CMAE into class projects but to inculcate analytics into the minds of our students. Our purpose is to provide undergraduates to the marketplace with the basic skills and understanding of the importance and value that analytics brings to all organizations in our communities.

We will continue to use blended-learning models combining face-to-face instruction with online activities; deepen students‘ learning and engagement through the use of interactive applications; make high-quality open courseware more readily available; and help organizations, institutions, instructors, and students benefit from learning analytics.

This project was born out the recognition of the increasing demand for analytics business users and the opportunities for employment afforded to undergraduate students who had analytic capabilities. The decision by SAS to provide SAS software via the cloud to faculty and students for use in the class was one of the key factors in the formation of the project. The program will emphasize the use of analytics and analytical tools used in the marketplace. SAS will have a special place in the heart of the program.

REFERENCES Davenport, T. & Harris, J. (2007). Competing on analytics: The new science of winning. Boston: Harvard Business School Publishing Corporation. Davenport, T. & Jarvenpaa, S. (2008). The strategic use of analytics in government. Washington, D..: IBM Center for The Business Government. Elrod, C., Flachsbart, B., & Kehr, W. (2009). Improving student employability by embedding marketing concepts in information science and technology courses. Issues in Information Systems, X(1), 155-162. Freudenberg, B. & Lupton, M. (2004). Empowerment for lifelong learning: Embedding information literacy into the business curriculum. Paper presented at the ETL Conference at Griffith University, Logan City, Queensland, Australia. Granitz, N. & Hugstad, P. (2004). Creating and diffusing a technology champion course. Journal of Marketing Education, 26(3), 208-225. Hannaford, W. Erffmeyer, R. & Tomkovick, C. (2005). Assessing the value of an undergraduate marketing technology course: What do educators think? Marketing Education Review, 15(1), 67-76. Harris, J. (2008). How to fill the analytic talent gap? Strategy & Leadership, 36(5), 32-34. Kalu, I. (2010, June). Embedding Employability Skills into Postgraduate Courses in Nigeria Universities: An examination of some fundamental issues. Paper presented at the Education Partnership in Africa Project Curriculum Event, Embedding Employability Skills in PG Degree Courses at the University of Greenwich, Medway Campus, London. Karns, G. (2005). An update of marketing student perceptions of learning activities: Structures, preferences, and effectiveness. Journal of Marketing Education, 27(2), 163-171. Kelley, W. (1965). Marketing intelligence for top management. Journal of Marketing, 29(Oct), 19-24. McBane, D. (2003). Getting the horse to drink: Teaching technology to marketing students. Marketing Education Review, 13(2), 1-6. McCorkle, D., Alexander, J., & Reardon, J. (2001). Integrating business technology and marketing education: Enhancing the diffusion process through technology champions. Journal Marketing Education, 23(1), 16-24. Simpson, J. & Weiner, E. (Eds.). (2010). The Oxford English dictionary (2nd ed., Vols. 1-20). Oxford, UK: Oxford University Press. Saren, M., (2011). Marketing empowerment and exclusion in the information age. Marketing Intelligence & Planning, 29(1), 39-48.

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Schunk, D. (2000). Learning theories: An educational perspective. New Jersey: Prentice-Hall. Shoemaker, M. (2003). What marketing students need to know about enterprise resource planning (ERP) systems. Marketing Education Review, 13(2), 69-77. U.S. Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2010-11 Edition, Market and Survey Researchers. Retrieved August 11, 2011 on the internet at http://www.bls.gov/oco/ocos013.htm.

ACKNOWLEDGEMENTS

To the 2011 WUSS Conference team, a special thank you for helping me to be a part of this year‘s conference. Without their support and encouragement this paper and my involvement would not be possible.

Thank you to SAS for providing instructional access to SAS software via SAS OnDemand for Academics and their recent decision allowing the use of SAS for research purposes.

Lastly to the Metropolitan State College of Denver, School of Business and especially the Marketing Department, administration, faculty, staff, and students who continue to be very supportive of bringing analytics alive!

CONTACT INFORMATION Your comments and questions are valued and encouraged. Contact the author at: Name: Don Price Enterprise: Metropolitan State College of Denver Address: Campus Box 79 P.O. Box 173362 City, State ZIP: Denver, CO 80217-3362 Work Phone: 720-252-6906 Fax: 303-556-3307 E-mail: [email protected] Web: www.mscd.edu/

SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies.

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