The McCombs School of Business at The University of Texas at Austin is accepting applications for its new Master of Science in Business Analytics program in the Department of Information, Risk, and Operations Management. The program will host its first group of students beginning in the fall of 2013, and prospective students can apply starting this fall.
"This degree brings together information management, management science, statistics and marketing," said Prabhudev Konana, chair of the Department of Information, Risk, and Operations Management. "It's important because the explosion in social networks has resulted in large data sets from which companies such as Wal-Mart and IBM seek to create value through data mining."
A McKinsey Global Institute report calls "big data" the next frontier for innovation, competition and productivity. The report estimates that by 2018, "the United States alone could face a shortage of 140,000 to 190,000 people with deep analytical skills, as well as 1.5 million managers and analysts with the know-how to use the analysis of big data to make effective decisions."
"Companies worldwide are beginning to strategize around their ability to create value through the analysis of massive amounts of data, and this degree will train McCombs students to perform those jobs," said Konana.
The MS in Business Analytics is designed for undergraduate degree holders in business, mathematics, statistics, computer science, physics and those with other technical or quantitative backgrounds. The degree can be completed in less than a year. There are no prerequisites and previous work experience is not required, but candidates must have mathematical aptitude and experience with quantitative analysis, including technical training. The program includes eight core classes and allows students the flexibility to specialize outside the core through various electives.