Center for Digital Innovations and Data Analytics
Digital technologies and innovations are disrupting business models and threatening to wipe out entire industries and yet, at the same time creating unprecedented opportunities. Netflix erased Blockbuster off the map. Amazon has put Toys R Us out of business. In fact, the entire brick-and-mortar retail industry is under threat from digital commerce businesses. Banks and financial services institutions are forced to reinvent themselves thanks to the financial technologies or now called the “Fintech Revolution.” The list is long, and we are only in the beginnings of the disruption. The imperative for us is to prepare our students for a future that is being shaped by many forces including the convergence of digital technologies, big data and artificial intelligence. With a history of staying at the forefront of innovations, the NIU College of Business aspires to continue the journey.
Our initiative to launch the Center for Digital Innovation and Data Analytics aims to be the platform that meets this need. This center will inspire our students and faculty to experiment with emerging technologies and tools.
The proposed Center for Digital Innovation and Data Analytics will provide students with industry-relevant, hands-on learning experiences. With a focus on creating a mindset of driving innovations using digital technologies and harnessing insights from data, students will be ready to shape the future of organizations.
The proposed center will focus on the following five key areas:
• Machine Learning
• Big Data
• Internet of Things
• Predictive Analytics
Our vision is to launch the center in a prominent space in the College of Business to impact students from all majors. To create a visually appealing space, partial glass walls will provide visitors a glimpse of the vibrancy of the happenings in the college and lab. Serving as a hub for activities relating to digital innovations and data insights, the space will be utilized as a home for workshops and classes in the domain.
The transformational impact of the investment will support multiple stakeholders and enhance the reputation of the College of Business and NIU.