Availability of large amounts of data creates new possibilities and challenges for businesses, and the ability to make good decisions based on big data is a critical factor for survival in the modern economy. Therefore, business analytics skills are in high demand in the modern job market.
In this major you will learn programming and data management, how to use statistical tools in order to explore and deduct patterns from data, how to use optimization and simulation tools to support better decision making in practical situations, and how to employ tools like machine learning and artificial intelligence for automated decision support. You will have the opportunity to learn how to apply analytical tools to practical decision making situations in operations management, marketing and pricing, finance, accounting, and auditing, and you will also develop your communicative and collaborative skills by participating in team projects and by presenting your findings.
The major broadly covers the following areas:
- Programming skills for data handling and problem solving in business.
- Data analysis. Statistical learning and predictive analytics for learning and extrapolating from data.
- Business modelling and prescriptive analytics. Using optimisation models and simulations for decision support, analysis and improving business processes.
Upon successful completion of the major, the candidates shall
- Have a solid knowledge about relevant methods from statistics and operations research
- Have in-depth and up-to-date knowledge on how to use data to support decision making in business
- Understand business analytics articles published in international scientific journals and formulate relevant research questions
- Build and solve decision models for real-world business problems
- Bring together decision modelling and data analysis for practical business applications
- Be proficient in computer programming in order to write code for business analytics problems and to communicate well with software developers
- Solve business analytics problems in teams with people from different backgrounds
- Reflect on the ethical challenges specific to business analytics
- Contribute innovative solutions for business analytics problems and communicate them to executives and other stakeholders
This major is suitable for those seeking jobs as analysts, either in companies or as consultants, and in general to all those seeking to complement their business background with analytical skills to succeed in the modern data-driven environment. A thorough understanding of business analytics will also enable you to communicate with technological experts and be useful for digital strategy managers.