Is Big Data really paying off?
What are the implications of data monetization?
Is AI hype or are we seeing real benefits?
These and other important questions were recently discussed at the Stevens Institute of Technology campus in Hoboken, N.J. during Analytics Innovation Showcase Day. This gathering of thought leaders took place throughout the Lawrence T. Babbio, Jr. Center, which houses the Immersion Lab, a revolutionary learning space that immerses problem-solvers and decision-makers in the exploration of complex systems.
Open dialogue between industry leaders, innovators and academia
There is growing interest in industry to explore and address the challenges of digital and data disruption through the application of analytics and big data, and this was evident throughout the event. Part of the Accenture and Stevens Analytics Innovation Program, which offers educational opportunities through immersion workshops, collaborative research and a graduate certificate program, the event provides an example of how industry and academia can partner together to come up with solutions.
Stevens School of Systems and Enterprises (SSE) faculty, and leaders and innovators from industry held open discussions on a wide range of topics throughout the event. Alexander Crombie Humphreys Professor William Rouse, director, Center for Complex Systems and Enterprises (CCSE), was joined by industry leaders on a panel to discuss various topics including the pace of adoption of analytics capabilities and distinguished hype versus reality.
The keynote speaker, Bruce McEver, chairman of Berkshire Capital, shared his perspectives on the key innovations and disruptions in the financial services industry and lessons learned. In addition, a top American insurance company and a multinational financial services corporation presented insights on how they have built and sustained industry leading analytics capabilities across their enterprises.
The event also offered cross industry networking and collaboration opportunities for participants. A reception and poster session showcasing Stevens research projects by faculty and students was followed by dinner in the Babbio Center Atrium overlooking the Hudson River and Manhattan.
Teaming up for educational and research opportunities
The Accenture and Stevens Analytics Innovation Program offers interactive analytics innovation workshops at the Stevens Immersion Lab. Data and analytics leaders can discuss their big data and analytics challenges in an immersive experience with experts across Accenture clients, Accenture and academia.
Another important aspect of the program is its collaborative research and thought leadership initiatives. Stevens professors collaborate with Accenture thought leaders across several in-flight research projects:
- Text-mining in E-Surveillance, Autonomous Vehicle Impacts to Auto Finance & Insurance
- Autonomous Vehicle Impacts to Auto Finance & Insurance
- Insurer Call Center Analytics
- Agent-based Models to Determine the Impact of Fintech Disruptions on Banks
- Automating Accenture’s Digital Banking Performance Index
- Blockchain Redaction
The collaboration has also led to the creation of a graduate certificate program in Financial Services Analytics. Graduate certificate program participants learn new key skills required in today’s high performing, data driven organizations and can apply 50% credit towards a Master’s degree.