BARCH: a business analytics problem formulation and solving framework

Choy, Junyu (2015) BARCH: a business analytics problem formulation and solving framework. [Doctorate by Public Works]

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Abstract

The BARCH framework is a business framework that is specifically formulated to help analysts and management who want to identify and formulate a scenario to which Analytics can be applied and the outcome will have a direct impact on the business. This is the overarching public work that I have used extensively in various projects and research. This framework has been developed initially in the banking sector and has evolved progressively with successive projects. The framework’s name represents five aspects for the formulation and identification of an area that one can use Analytics to answer. The five aspects are Business, Analytics, Revenue, Cost and Human. The five aspects represent the entire system and approach to the identification, formulation, understanding and modelling of Analytic problems. The five aspects are not necessarily sequential but are interrelated in some ways where certain aspects are dependent on the other aspects. For example, revenue and cost are related to business and depend on the business from which they are derived. However, in most practices involving Analytics, Analytics are conducted independent of business and the techniques in Analytics are not derived from business directly. This lack of harmony between business and Analytics creates an unfortunate combination of factors that has led to the failure of Analytics projects for many businesses. In intensely practising Analytics and critically reflecting on every piece of work I have done, I have learned the importance of combining knowledge with skills and experience to come up with new knowledge and a form of practical wisdom. I also realize now the importance of understanding fields that are not directly related to my field of specialization. Through this context statement I have been able to increase the articulation of my thinking and the complexities of practice through approaches to knowledge such as transdisciplinarity which further supports the translation of what I can do and what needs to be done in a way that business clients can understand. Having the opportunity to explore concepts new to me from other academic fields and seeking their relevance and application in my own area of expertise has helped me considerably in the ongoing development of the BARCH framework and successful implementation of Analytics projects. I have selected the results of three projects published in papers that are listed in Appendices A-C to demonstrate how the model can be applied to solve problems successfully compared to other frameworks. The evolution of the model involves a continual feedback loop of learning from each successive project which contributes to the BARCH model being able to not only continuously demonstrate its applicability to various problems but to consistently produce better and more refined results. The majority of analytical models applied to the many problems in the business environment address the problems only superficially (Bose, 2009; Krioukov et. al., 2011), that is without understanding the impact on the business as a whole. Many Analytics projects have not delivered the promised impact because the models applied are overly complicated (Stubbs, 2013) to solve the root causes of the business problem. This situation is compounded by an increasing number of analysts applying Analytics to business problems without a proper understanding of the context, technique and environment (Stubbs, 2013). While many experts in the field interpret the problem as a multidisciplinary problem, the problem is in my opinion transdisciplinary in nature.

Item Type: Doctorate by Public Works
Research Areas: A. > Work and Learning Research Centre
B. > Doctorates by Public Works
Item ID: 18447
Depositing User: Users 3197 not found.
Date Deposited: 17 Nov 2015 13:07
Last Modified: 02 Jun 2019 05:34
URI: https://eprints.mdx.ac.uk/id/eprint/18447

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