Main Areas of Research
The focal point Business Analytics deals with the opportunities and challenges of applying new data-driven technologies to business.
The BANDAS Center concentrates on the one hand on making the extensive amounts of data resulting from digitization utilizable and on the other hand on the analysis of possible new business areas for companies (e.g. new business models). In both areas, basic research is being conducted (in some cases, this is also publicly funded, e.g., by the FWF or the EU) and there are application-oriented cooperation projects with industry partners.
The focus of the research is not on the development of technical basics such as the development of machine learning algorithms, but on the application and utilization of already existing technologies and methods to the economy. For example, the fields of application of data-driven technologies at the departments of the Faculty of Social and Economic Sciences will be examined closely. The BANDAS-Center is responsible for the transfer of research within the faculty and also for business partners. The aim is to build up consulting competencies for the introduction and application of data-driven technologies for both science and business.
In order to be able to integrate more behavioral approaches in business administration into research projects in the field of business analytics, the Max Jung Laboratory for Experimental Economic Research was integrated into the BANDAS Center. In addition to basic research in behavioral economics, this will enable the transfer of methodological expertise to empirical and, in particular, experimental evaluation studies of applications developed in the field of business analytics (e.g. dashboards for decision support).
Data Science in general deals with fundamental and methodological issues of data-driven technologies and in particular with their application to Big Data.
The BANDAS Center continuously monitors current technological trends and developments in the field of data-driven technologies and acts as a contact and advisory point for the faculty's researchers with the aim of supporting them in building up competencies in the field of data science.
Another focus in the area of Data Science is the technology assessment of data-driven technologies. Within the framework of projects supported by both public and industrial cooperation, changes in the working and economic world as well as in social life are to be investigated and, if necessary, suitable concepts or measures are to be developed. Here, too, the empirical economic research expertise of the Max Jung Laboratory for Experimental Economic and Social Research can be drawn upon.