KAIST Prof. Wonseok Oh, ‘Business Analysis’2015-05-09Hit:3107
“Among the 9 numbers from 1 to 9, which one of them would most frequently appear as the first digit?
One may expect equal distribution in the appearance of the 9 numbers; however, counterintuitively the number ‘1’ appears most often and the frequency decreases significantly from 2 to 9.
This phenomenon is also known as the ‘Benford’s law’ which has been proved through various data. With ‘Benford’s law’, Professor Oh of KAIST College of Business claims that the distinction of data manipulation such as accounting fraud can be possible.
The importance of data-based and counterintuitive analytical thinking is more critical than ever as the ‘big data’ industry is emerging.
Prof. Oh’s Business Analytics course focuses on grasping hidden business insight by utilizing the big data created by the customers.
Business Analytics has recently been in the spotlight during ‘KAIST Media Frontier’ held in last September and Prof. Oh gave free seminars regarding ‘Business Analytics and Future Management’ in the Information Media MBA briefing session.
“Optimal marketing is possible by utilizing data to understand consumers’ inclinations and to predict which product they will respond to positively, and firms’ competitiveness in the future will be determined by their prediction abilities” said Prof. Oh.
In Prof. Oh’s Business Analytics course, not only the basic knowledge required for business analytics, such as statistics, but also the practical analytic techniques using actual data is taught.
Students can acquire practical ability by actually obtaining data through various methods such as experimental settings and surveys and utilizing analytical techniques to pull out meaningful information from the obtained data.
Due to Prof. Oh’s effort to provide students the environment to think actively, students are exceptionally involved in Prof. Oh’s class and it is not surprising to see a line of students asking questions even after class.
“I have always tried to teach students the values and needs of being creative and doing research on things that are interesting and academically worthy” said Prof. Oh.
Prof. Oh graduated with a Ph.D. degree from Stern Business School, NYU and was a professor in McGill University (Canada) and Yonsei University (Korea) before being named as a chair professor of KAIST Business School in 2013. Moreover he is the editor of Journal of the Association for Information Systems and International Journal of E-Commerce.