Business Research And Analytics For Effective Decision Making

The increasing complexity of business environment has made managerial decision-making difficult. Research, unless used with good understanding of the problem and the research process most appropriate to understand key issues, also poses its own challenges.
This has resulted in an acute need for a more in-depth understanding of issues at hand and to find the feasible solution to the business problem. For this, the need for structured and scientific business research has gained attention in management circles like never before. On the other hand, the management researchers and practicing managers are facing new and varied problems regarding types of research methodology and its application in day-to-day business decisions.
In this situation, a need is felt for high-quality, industry-relevant programmes for managers to quickly refresh and upgrade them with the latest in research thinking with concepts, tools and techniques to help them take high-value business decisions using appropriate research methods.
In addition to this, business analytics, also known as business intelligence, i.e. the process of collecting and analysing domain-specific data stored in data warehouses to derive valuable insights about customers, emerging markets, identifying opportunities and key drivers to business growth has become immensely important. Thus it is increasingly being seen as the key differentiator that provides a competitive edge to companies across industries. The tools used in business analytics are varied. They range from simple slice-and-dice tools to statistical methods such as logit and probit regression, discriminant analysis and multivariate analysis along with sophisticated econometric tools and techniques used for modelling. Advanced tools such as Data Envelopment Analysis, Artificial Neural Network and Market Basket Analysis are also being considered by  relevant users such as FMCG companies, banks, insurance companies, data base companies, search engine firms and airlines have all been beneficiaries of research methods and the analytics thereto.
This MDP is designed in such a way that it will give exposure to the participants about research problems formulation, application of appropriate research design and skills of data generation, data processing and statistical analysis at both basic and advanced level.
The MDP will have a special emphasis on how the research can help senior managers in the industry take better business decisions – by correctly defining the research problems, choosing the right research methodology and interpreting the research findings to generate key business insights.


The objective of the MDP on ‘Business Research & Analytics For Effective Decision Making’ is to provide an in-depth understanding of various methods of conducting business research in a variety of management situations. The programme also creates competencies in defining research problems.

  • Participants will also get a hands-on experience in conducting basic as well as advanced management research. They will learn about various statistical soft ware tools widely used to conduct different types of business research studies.

  • At an advanced level, the participants will get exposure to various multivariate methods in research and understand research-issues including tools and techniques of econometrics (multicolinearity, autocorrelation, heteroskedasticity, lags and lead in modelling, modelling with dummy variables, cointegration, ARIMA, ARCH and GARCH etc.) and the introduction to advanced techniques and their uses.

  • Although the primary focus will be on survey-oriented quantitative research, qualitative research methods used in business research today will also be covered.


This MDP ‘Business Research & Analytics For Effective Decision Making’ will be relevant for senior and middle level managers from – marketing research, data mining, analytics and search engine firms; FMCG and consumer durables companies; telecom, airlines, travel, transportation, hospitality and real estate businesses; companies in retail, tourism, media and entertainment sectors; as well as companies dealing in supply chain management and operations - who are responsible for briefing, conducting or analysing business research, including market research and consumer research.


The MDP on ‘Business Research & Analytics For Effective Decision Making’ will cover a broad-spectrum of research topics important to use business research in management decision-making, including:

  • Introduction to Research and Problem Formulation

  • Research Process and Research Design

  • Sampling Theory

  • Hypothesis Formulation and Testing Techniques

  • Non-Parametric and Parametric Tests

  • Multivariate Analysis

  • Introduction to Econometrics and its applications

  • Basics of DEA, Neural Network and their uses

  • Use of the techniques studied for meaningful analytics and business intelligence

  • Use of various software for data analysis


The MDP on ‘Business Research & Analytics For Effective Decision Making’ will emphasise on the application of concepts and frameworks through case analysis, discussions, software training, exercises and interactive lectures. Most importantly, this MDP will make the participants well-versed with the various methods used for research and analytics in a very simple yet analytical manner, enabling them to interpret any research output very easily.


“A must do for every person in the field of research. Brings in amazing viewpoints from the veterans in academics.  Extremely interactive and faculty members are very open to sharing experiences.  I’m definitely coming back to other MDPs.  Keep it up!”
-Sagar Ramsinghani
Millward Brown

“Very good programme for data analytics and market research. Refreshed my learnings and added a wealth to my knowledge”.
-Jay Shah
K Raheja Corporate Services

 “Overall a good learning with new insights in MR and ads.”
-Prateek Kumar Singhania
Escorts Ltd.


Dr. Rasananda Panda
Professor of Economics and Head, General Management Area
Prior to joining MICA, Dr. Rasananda Panda was working as an Associate Professor in the Economics Area at the School of Petroleum Management, a constituent School of Pandit Deendayal Petroleum University, Gandhinagar. He was also Chief Economist (on contract) to the Gujarat State Petroleum Corporation (GSPC) – a Govt. of Gujarat undertaking during the period October 2009 to September, 2010. Dr. Panda had earlier worked with MICA during 2002 to 2007 as Associate Professor and Assistant Professor in the area of Business Economics and Finance. He started his career as a Trainee Academic Associate in the Economics area of IIM-A and worked there for three years. He was a Lecturer and Senior Lecturer for five years at the P.G. Centre for Management Studies of Gujarat University (SLIMS), Ahmedabad.
Dr. Panda is a Ph.D. in Applied Economics from Utkal University, Orissa. He specializes in Macro-economics and Applied Econometrics. Other academic interests include Econometric Analysis of Consumer Behaviour Models and Economic  Analysis of Integrated Marketing Communications Industries especially in Media and Advertising. He has also developed a preliminary Brand Valuation Model (quantitative) for some of the Indian companies purely for academic purpose. He has participated in a number of advanced level courses in Econometrics and Environmental Economics at the Indian Statistical Institute, Kolkatta.
He can be reached at: [email protected]


All participants of the MDP on ‘Business Research & Analytics For Effective Decision Making’ will be awarded a MICA MDP certificate on successful completion of the programme.


6 – 8 February, 2014


Mudra Institute of Communications, Ahmedabad (MICA), Shela, Ahmedabad – 380 058 (India)


For Indian Participants
Rs. 30,000/- per participant for the residential MDP.
Please add 12.36% towards Service Tax.

For International Participants
US$ 1,250/- per participant for the residential MDP.
Please add 12.36% towards Service Tax.

  • The fee includes the programme fee (including programme delivery and course material) as well as full board and air-conditioned single room accommodation at the MICA MDP Centre.

  • Payment should be made by Demand Draft payable at Ahmedabad, India or a Pan-India Company Cheque in favour of Mudra Institute of Communications, Ahmedabad (MICA).

  • Payment can be transferred electronically to MICA’s savings account (00491000064062) at Bodakdev, Ahmedabad branch (0049) of HDFC Bank Ltd. (RTGS/NEFT IFSC:HDFC0000049).

  • If you remit the fee electronically, please include Name of Remitter (The name of the sponsoring organisation) and Purpose of Remittance i.e. MDP on ‘Business Research & Analytics For Effective Decision Making’ in payment details.

Please send us the remittance details attaching the original payment slip along with the MDP nomination form to enable us to easily identify your payment sent by electronic transfer.
MICA’s Service Tax Number: AAATM2168DSD001

We recommend that you send your nominations early. If, for whatever reason, you cancel it, we will refund the fee provided we get your written request for cancellation at least 15 days ahead of the programme commencement date. In case the nominated person does not attend, the sponsoring company can nominate another person to attend the programme with prior intimation.


Early Bird Discount: Nominations received with payment on or before Thursday, 19 December, 2013, will be entitled for an early bird discount of 10%
Group Discount: MICA extends a discount of 10% for a group of 4 or more participants attending this MDP together as a team, from the same organisation.
Combine the Two: Organisations with nominations and payment received on or before Thursday, 19 December, 2013 can avail of both the discounts subject to a maximum overall discount of 15%.


Early Bird Offer Closes: Thursday, 19 December, 2013
Last Date For Nomination: Thursday, 16 January, 2014


MDP Centre
Mudra Institute of Communications, Ahmedabad (MICA),
Ahmedabad – 380 058 (India)
Phone: +91 2717 308250
Fax: +91 2717 308349
E-mail: [email protected]

For further information, please get in touch with Narayanan K Nair, Senior Manager, MDP Centre at mobile: +91 9724447196 or e-mail: [email protected]

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