This course contributes to the development of the following learning goals:
LO2.1 Our students understand and can apply business concepts and principles.
LO2.2 Our students can communicate effectively in a business context.
LO2.3 Our students understand the principles of leadership and team building in
a business context.
The Deloitte project focused on exploring the changing roles of auditors and examined ways to simplify, streamline and harmonise essential audit process with Artificial Intelligence (AI). Students had to envision how the future of audit and the profession may change as the traditional roles are transformed with AI, to become more efficient, strategic and catalytic. Requiring audit, AI and business knowledge, coupled with active mentorship from the course instructors and Deloitte representatives, students researched and recommended accounting processes that could be simplified and streamlined, which include rethinking how structures and skills could evolve within the audit profession.
Students designed an efficient business intelligence tool that succinctly presents the company's key performance indexes and other relevant data points crucial to the organisation's management and the various business unit for better decision making.
Aspiring to expand the business further regionally with specific challenging targets, Seng Hua Hng (SHH) commissioned the SMU students to build in-house data analytics capability to help the company achieve its strategic goals. SHH previously would rely on ballpark estimates to make key strategic decisions such as to determine annual production capacity. The key challenge of utilizing ballpark estimates was the lack of accurate demand forecasting on a periodic basis and the absence of important financial information that would support the risk assessment of expansion into new foreign markets. Students also leveraged on predictive analytics to find valuable insights such as expansion plans for both domestics and overseas, new product introduction possibility and better estimation of future financial targets.
The SGX project is focused on the process of collection of data from both mainstream and social media sources, in efforts to help investors stay on top of the latest industry developments. Students devised a standard operating procedure that helped to reduce total man-hours and improve the process accuracy of SGX's systems over time.
Students recommended a suitable methodology to measure members' engagement score, using the existing data available and propose additional data points relevant to track engagement. Students also developed a predictive tool to identify the profile of their members who would be most prone to dropping out.