New era of business analytics: making sense of business ecosystems

Data generated by financial transactions, various organisational information systems, such as CRM, web and social media, and different types of devices and sensors are increasing exponentially in terms of volume, velocity and variety [2]. Various technologies have emerged to deal with this kind of data: a new class of databases known as NoSQL, an open source software framework for fast batch data processing across parallel servers known as Hadoop; as well as "in memory" and "in database" analytics for fast number crunching [1]. In addition to technologies, various methods exist to make use of the data that include for example machine-learning methods (semiautomated model development and testing), social network analysis and information visualization methods, and various simulation methods (e.g. agent-based modeling). The purpose of this panel is to discuss the new era of business analytics, from the perspective of multiple methods and multiple industries and to increase understanding on how analytics can help in making sense of business ecosystems.