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Concentration in Business Analytics

Business Analytics is the emergent capability for organizations in the twenty-first century. All organizations, regardless of industry, size, or operating environment generate and manage large volumes of data and information that, used well, inform the decision-making and competitive capabilities of the enterprise. The emerging area of analytics is focused on using business data to examine what already happened, to determine or predict what will happen, and to explore or model what should happen. Successful managers across functional areas, whether finance, marketing, operations, human resources, or information systems, need to be able to understand and utilize business analytics in order to manage and lead effectively.

Business Analytics draws upon a portfolio of methods and tools including statistics, forecasting, experimental design, data mining, and modeling to turn data into information and insights. The business analytics field includes descriptive, predictive, and prescriptive analytics. Descriptive analytics help organizations describe what has happened in their operating environment and includes gathering, organizing, tabulating, and communicating historical information, e.g., how many online subscribers do we have?聽Predictive analytics helps organizations understand what to do by uncovering relationships and associations in the available data and uses techniques such as probability and forecasting to reveal the likelihood of outcomes. For example, the number of online subscribers increases when we have banner advertising on search sites. Prescriptive analytics is focused on understanding the causal effects that can be discerned from data sets and strives to predict what will happen, given a particular course of action. For example, if we increase our banner advertising and provide one-click subscribing, how will the number of subscribers change?

The Business Analytics concentration builds upon the Carroll School of Management core. The concentration is designed to align with a variety of functional disciplines making Business Analytics an excellent complement to other concentrations including Accounting, Operations Management, Finance, Marketing, Information Systems, or Management and Leadership.

Objectives of the Undergraduate Co-Concentration in Business Analytics

The objectives of the undergraduate co-concentration are to develop managers who:

• Possess a broad and deep understanding of theories and concepts in business analytics
• Are adept at data management and analysis
• Understand and utilize quantitative techniques for historical analysis, predictive analysis, modeling, and simulation
• Are capable of applying analytical skills and knowledge to address management problems across disciplines and industries
  

Careers in Business Analytics

Rather than simply answering questions about what, how, when, and where things have happened, today鈥檚 business analysts are able to push the use of data further, find out why things are happening and what will happen if identified trends continue, and model how an organization can use this information to optimize outcomes. Careers that utilize the skills and knowledge of business analytics continue to emerge and grow in all fields and business disciplines. Students with this co-concentration may pursue careers in consulting, financial services, healthcare services, accountancy, technology management, government, manufacturing, and not-for-profit organizations. The demand for managers with these skills is strong and will increase as firms continue to recognize that they compete not only with new products and services, but also with a high degree of competence in managing their data, information, and business intelligence.

Business Analytics Co-Concentration Requirements

Business Analytics Co-Concentration Class of 2023

The following three courses are required for students co-concentrating in Business Analytics who belong to the class of 2023:

• ISYS3340 Data Analytics in Practice (fall and spring)
• BZAN3384 Predictive Analytics (fall and spring)
• BZAN6604 Management Science (fall and spring)

Select two additional courses, excluding any courses taken from above list:

• BZAN6614 Quality Management (offered periodically)
• BZAN3307 Machine Learning for Business Intelligence (fall and spring)
• BZAN3310 Sports Analytics (fall and spring)
• BZAN3385 Applied Statistical Modeling (fall and spring)
• BZAN6605 Risk Analysis and Simulation (offered periodically)
• BZAN6606/MFIN6606 Forecasting Techniques (fall, online, and spring)
• BZAN6608 Pricing and Revenue Optimization (offered periodically)
• ISYS2157 Programming for Management and Analytics (fall and spring) (or CSCI1101)
• ISYS3257 Database Systems and Applications (fall and spring)
• ISYS3360 Machine Learning and Artificial Intelligence (fall)
• ISYS6621 Social Media, Emerging Technologies, and Digital Business (fall)
• ISYS6625 Geographic Information Systems (fall and spring)
• ISYS6645 Data Visualization (fall and spring)
• MKTG2153 Customer Research and Insights for Marketing Decisions (fall and spring)
• MKTG3114 Pricing and Demand Analytics (offered periodically)
• MKTG3161 Customer Relationship Management (fall and spring)
• MKTG3258 Marketing Analytics for Customer Insights (spring)
• ACCT6640 Dive, Dissect, and Decide with Big Business Data (spring)
• MFIN2270 Data Analytics in Finance (fall and spring)

Business Analytics Concentration Classes of 2024 and Beyond

The following course is required for students concentrating in Business Analytics who belong to the class of 2024 and beyond:

• BZAN3385 Advanced Statistical Modeling (fall and spring)
  

Students must choose two of the following courses:

• ISYS3350 Data Management for Analytics and Application (fall and spring)
• BZAN6604 Management Science (fall and spring)
• BZAN3307/ISYS3360 Machine Learning (fall and spring)

Students must choose two electives from the list below:

• ISYS2160 IOS/Swift Programming
• ISYS2170 Physical Computing
  
• BZAN3310 Sports Analytics
• ISYS4258 Systems Analysis and Design
• BZAN6612 Forecasting for Business Analytics
  
• ISYS6625 Geographic Information Systems
• ISYS6641 Cybersecurity
• ISYS6645 Data Visualization
• ISYS6655 Introduction to Blockchain and Its Business Applications
• ACCT6640 Dive, Dissect, and Decide with Big Business DataMFIN2270 Data Analytics in Finance
• MKTG2153 Customer Research and Marketing Decisions聽

Concentration in Operations Management

Operations Management is a broad and multi-dimensional business area. Highly integrative, Operations Management determines how an organization executes its mission and goals. Operations Management is both an art and a science, tying together quantitative analytical skills with cognitive problem-solving.

The Operations Management concentration provides students with knowledge of current issues in the Operations Management discipline. Intense competition in fast-paced global environments makes competencies in this field critical in both service and goods-producing organizations. This concentration is applicable in many industries and organizations, combining knowledge in business analytics, process design and analysis methods, project management, and operations management issues. The curriculum recognizes environmental, ethical, and social issues. The pedagogy entails lectures and discussions, case studies, field studies, and analytical modeling.

The Operations Management concentration builds upon the Carroll School of Management core, particularly complementing courses in statistics, organizational management, and economics. Our courses emphasize analysis and decision-making and are explicitly designed to deliver the skills and knowledge required to successfully manage people, processes, and systems in today's competitive environment.

The concentration is designed to intersect with other functional disciplines making Operations Management an excellent complement to other concentrations including Accounting, Business Analytics, Finance, Marketing, Information Systems, or Management and Leadership.

Objectives of the Undergraduate Concentration in Operations Management

The objectives of the undergraduate concentration are to develop managers who:

• Possess a broad and deep understanding of theories and concepts in Operations Management
• Are capable of applying skills and knowledge to address management problems
• Understand and utilize quantitative and qualitative analysis in decision making
• Appreciate the role of operations in an organization and the interrelationships among functional areas
  

Careers in Operations Management

Operations managers manage both processes and people, with a highly integrative career path tying together analytical decision-making with strategic perspectives and the needs of employees and other stakeholders. Our graduates have successfully attained positions in process management and analysis in major companies such as Accenture, Boston Beer, Deloitte, EY, Fidelity, General Electric, Goldman Sachs, IBM, JPMorgan Chase, and UBS. Students with this concentration may pursue careers in consulting, financial services, healthcare services, retail, transportation, technology, government, manufacturing, and not-for-profit organizations. Students with an operations management concentration are typically hired into positions such as Operations Analyst, Project Team Member, Supply Chain Analyst, Consultant, Process Designer, and Management Trainee, as well as positions on the corporate planning staff.

The demand for managers with these skills is strong and will increase as firms continue to recognize that they compete not only with new products, good marketing, and skillful finance but also with a high degree of competence in managing their operations. Salaries for majors in Operations are and will likely remain competitive with all other concentrations in management.

Operations Management Concentration Requirements

The following two courses are required for the concentration:

• BZAN3375 Operations Strategy and Consulting (fall)
• BZAN2255 Managing Projects (fall and spring)

Also, take two of the following:

• BZAN3307 Machine Learning and Artificial Intelligence
  
• BZAN3310 Sports Analytics (fall and spring)
• BZAN3385 Applied Statistical Modeling
• BZAN6632 Supply Chain Management (offered periodically)
• BZAN6604 Management Science (fall and spring)
• BZAN6612 Forecasting for Business Analytics