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Business Analytics

Business Analytics

Management science uses the ideas and methods of science, mathematics, statistics, and computing, which collectively are often referred to as business analytics, to help managers make better business decisions. Management science techniques have been applied in a wide variety of areas including financial modeling, marketing research, organizational theory, transportation and logistics, health care, environmental protection, and manufacturing. Almost any decision can benefit from the methods of management science/analytics.

A Major in Demand

The demand for business analytics graduates is on a rapid rise as almost every big organization struggles to derive the maximum value from their investments and resources and seeks well trained business analytics professionals. These organizations represent a wide spectrum including consulting companies, financial corporations, technology corporations and many others. The McKinsey Global Institute, which is the McKinsey & Company’s business and economics research arm, has predicted that by 2018, the United States could face a shortage of between 140,000 to 190,000 people with deep analytical skills, as well as a shortage of 1.5 million data-savvy managers.

The business analytics major prepares students to combine quantitative, statistical, and computational tools and techniques to help companies understand, predict, and act on large amounts of data, improving decision-making in increasingly complex and interconnected business environments. The business analytics curriculum is designed to give business students the necessary educational background and experience to allow them to work as successful business analytics professionals.

In addition to the general education, business, and economics courses of the Bachelor of Science in Business Administration degree program, the major in business analytics requires a solid background in the natural sciences and mathematics.

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