Digitization is one of the most profound change processes that companies are currently facing. The three courses of the elective module address the use of new technologies and the effects of digitization on entrepreneurial activity.
A. Digital Transformation
Information Technology (IT) is changing the business world in a variety of ways. Literally, each business is affected and may question itself whether being prepared enough as a „digital business“. This course will provide a case-based approach to examine how (information) managers should think about the (disruptive) impact of IT on products, processes, and business models. The goal is to integrate technological and managerial aspects of IT.
B. Smart Production & Industry 4.0
The widespread use of smart sensors and actors that are connected over a network and controlled by automated systems is currently strongly changing the production industry. These technological developments which are summarized as "Industry 4.0" lead to shorter product cycles, higher product variety, and customer-defined products. This case-based course provides managers with insights on how these technologies can change production processes and with guidelines on how to make use of them. The course does not focus on in-depth technology but on managerial implications of Industry 4.0.
C. Data Science & Artificial Intelligence
With Internet-based systems and the widespread use of mobile devices, companies can directly observe customer behavior and how it can be influenced by strategic decisions. Data science tries to uncover structure in observed data, whereas artificial intelligence tries to make use of the relationship by making predictions for example on future customer or system behavior. In the last few years, especially neural networks became very popular for classification problems. Relevant applications are speech and image recognition, translation, autonomous driving, or prediction. This case-based course provides an introduction to data science especially classification (including neural networks), association rule mining and clustering as well resulting systems like recommender systems and business analytics. The course focuses on managerial aspects on how to make use of data science and artificial intelligence approaches.