It is not limited to one sector, as every company feels the effects of waste in one way or another.
Data collection can show the sources of the depleted resources, which squanders time. Not having this information can ultimately impact the bottom line. For example, lousy advertising decisions can be one of the greatest wastes of resources in a company.
Another subject discussed was the power of BI (Business Intelligence).
BI includes strategies and technologies used by companies for the data research and management of business data.
Common functions of BI technologies include reporting, analytics, business performance management, benchmarking, predictive analytics, and prescriptive analytics.
Burnley College tutors are all for Innovating education. As part of this innovative education, the tutors encourage their students to look at the local area and apply what they have learnt about BI.
The students have done an analysis of the local Football Club and the predictability of the club’s future performance.
It is encouraging to see the college inspiring the students to look at local businesses and learn from their success.
The next section discussed by the tutors was about the digital skills of the students that are coming through from Secondary school. It was highlighted that not all young people are taught skills in Excel Processing or PowerPoint. Though these skills are not a requirement as part of the young person’s education, they are skills that could benefit them in their adult life.
Digital skills are defined as the ability to find, evaluate, use, share, and create content using digital devices, such as computers and smartphones.
Burnley College recognises that these digital skills will benefit their students, so they ensure each student knows how to use Excel and PowerPoint formats before they finish their course.
Some of Burnley college’s computing students have used the skills they have learnt to create a monitoring system that tracks vacancies and skills gaps across multiple sectors which is aiding The Watchtower Project which is supported by Lancashire County Council.
3rd place to visit
After a fifteen-minute break, our group headed down to the ground floor, into the E-Sports Strategy and Marketing department.
The tutors explained how E-sports is one of the fastest-growing industries in the country since the COVID-19 lockdown. Many gamers have come to the realisation that it is profitable to create gaming content and have it streamed online live or pre-recorded.
British computing society has said, “Esports is one of the biggest and fastest growing industries in the world, with viewership now reaching over 810 million people.”
The E-Sports industry was worth an estimated 34.53 million Pounds Sterling in 2022, this represents an increase of over 16% from the previous year – Statista.
ESports turns online gaming into a spectator sport. It mimics the experience of watching a professional sporting event, except instead of watching a physical event, spectators watch video gamers compete against each other.
In esports, for example, a brand might want to advertise with streaming platforms or esports teams in order to market its products to the 18-24 gamer demographic.
Marketing departments will often look after a wide range of areas, from social media to sponsorships, partnerships, brand image, slogans, adverts and more.