Data and data analytics are the "new" gold of business. The Module will clarify the myths and realities of this claim. The decreasing costs of information processing, which we call digitization, offer new approaches to commercial developments and challenge traditional business models.

The Module identifies tools and model for data analytics and addresses the question how and in what form information technology helps to create and maintain competitive advantages. Increasing uncertainty in business also requires an in-depth analysis of risk.

This Modul will touch on qualitative and quantitative risk-management techniques and their application in commercial environments.

• Raise awarness for the need of data processing and analytics capabilities in business as a competitive advantage
  
  
• Developed an overview on data analytics methods and concepts
  
  
• Apply simple tools to analytical problems in business Introduce into risk management
  
  

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