About Business Analytics
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Business Analytics involves the use of data and computer models to help businesses achieve better performance. For example, a grocery chain may wish to analyze its customer records to determine which coupons to mail to individual customers to increase customer loyalty. It may also wish to use this data together with optimization models to determine the optimal location of products on the shelves in the store. A bank company may wish to use its customer data to determine what type of customer is the most profitable in order to focus its marketing efforts. An insurance company may wish to assess the claims to identify those most likely to be fraudulent. A cell phone company may wish to determine the best locations for its retail outlets. An online marketer may wish design experiments and collect data on different online marketing strategies in order to increase sales.
The Business Analytics major is designed to provide the student a good understanding of business, as well as the computer skills needed to manage data and the statistical and mathematical skills need to analyze data and to model business processes. Business Analytics consist of statistics, which is the use of experiments and data analysis to find ways to improve business performance, data mining, which the analysis of historical data to gain business insights, business intelligence, which is the use of data to provide managers a “dash board” of real time information for better decisions making and business process optimization which is the use of optimization techniques to improve the performance of business processes.
The Business Analytics curriculum includes courses in the use of computerized statistical techniques for data analysis, courses in the computer software used for the management of data and courses in computer models for process optimization.
Students in this program may also acquire the necessary skills to obtain certain industry certifications such as SAS certification or Google certification. These certifications give students a competitive edge in the job market.
Business Analytics is an ideal major for students who like technology and have good mathematical ability and would like a career working with other business professionals in a exciting and rapidly growing career path.
Students in other business majors can elect to have collateral or a dual concentration in Business Analytics. A Business Analytics collateral or dual concentration opens up some very attractive career options.