Program helps students interpret big data
Print Edition
RAPID growth in the amount of available data is undoubtedly the major trend in today’s economic environment.
All over the world, businesses, administrations and individual people are generating massive amounts of data through social media, smartphone applications, customer relationship and sales management systems and email.
This “big data” is new, not only because of the sheer amount being generated, but because it quantifies information that wasn’t quantified or stored before. Collecting data such as geographic location, mood and feelings, or health related indexes, for example, is possible now thanks to technological advances.
But it’s what’s done with this data, how it is analyzed and used, that is fast-becoming a crucial skill for business professionals and students. Companies’ needs for professionals who can manage, interpret and analyze large volumes of data are exploding.
The new master’s of science (MSc) Business Analytics program offered by International Business School Suzhou (IBSS) at Xi’an Jiaotong-Liverpool University (XJTLU) equips students who have a background in business, management and economics with a comprehensive understanding of what constitutes big data and its strategic importance to organizations.
Success in a globalized market
Program Director of the MSc Business Analytics at IBSS, Dr Benoit Desmarchelier, defines business analytics as a set of techniques that unlock the potential knowledge stored within big data.
He says, “Big data is transforming the way people are working. Accountants with skills in information technologies can nowadays perform auditing more accurately than ever before, human resource managers can find the right employees by mining data extracted from social media networks’ databases, while marketing professionals can categorise customers more precisely to maximise advertising campaigns’ return on investment.
“Big data is already becoming the key to success in a globalized market environment.”
The Masters program equips students with the data processing skills needed to unlock the potential of big data. It will transform business students into multi-talented professionals who are at the forefront of the rapidly changing technological environment and who can bridge the gap between their areas of expertise and information technologies.
Strong links with industry
The MSc Business Analytics is designed to enable students to work effectively at the interface between owners of large and unstructured data sets, such as the “front-office” functions of financial institutions and retailers, on the one hand and “back-office” in-house software programers and computer scientists on the other.
Students on the course will benefit from access to the Big Data Analytics and Technology Centre (BDATC) that has been set up at XJTLU in collaboration with IBM, a world-leader in big data applications, and the Suzhou International Science-Park Data Centre (SISDC).
Business analytics training will be available using IBM software and students will have the opportunity to apply for internships or projects at SISDC.
“The employability of our students is our highest priority,” says Professor Sarah Dixon, dean of IBSS.
“The program’s strong links with industry ensure that course content is up-to-date and meets companies’ requirements, while opportunities to work directly with partner firms ensure students are gaining relevant practical skills. Our students in demand from both large Chinese and international multinationals for both their technical and business understanding.”
Understanding of both the technological and business worlds is in high demand in every sector of the economy both in China and internationally. It is especially essential within fast-growing service sectors such as finance, retailing and communication technology.
“Virtually all organizations of the future will generate many terrabytes of data that contain hidden knowledge unlocked by data analytics,” says Dr Woonkian Chong, a lecturer on the MSc Business Analytics program. “Professionals in this field will enjoy exciting and lucrative careers.”
On successfully completing the MSc Business Analytics degree, graduates have the knowledge, skills and understanding to take up the position of a market research analyst, operations research analyst, data or information analyst, technical consultant, IT-related project manager, or customer relationship management analyst within organizations that deal with large data.
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