Any large or small business today collects and analyzes data. Amazon collects data from its customers as they complete transactions to market to them more effectively. Boeing collects data from its massive machines to control quality and establish maintenance schedules. Companies collect data on employee performance and satisfaction to identify strategies to improve effectiveness. Investment portfolio managers collect data from financial markets, looking for opportunities to generate a higher rate of return on investments.
The Data Analytics Concentration teaches the skill and tools that are used by today’s professionals to extract valuable business insights out of massive quantities of data. In the data analytics concentration, students learn the programming language Python, gain a deep understanding of how to use Excel for modeling and simulations, and gain experience in using multiple data analysis and data visualization tools. These include SQL, R, Six Sigma and Tableau. Being able to put these skills on your resume allows you to move ahead rapidly with your career in business.
Career opportunities for data analysts are plentiful and expected to continue to grow. Starting in data analytics is increasingly the first phase of a career in marketing, finance, operations management, or human resource management. Management students with a deep knowledge of business functional areas are likely to produce more insight from the data analytics than a pure technician. It is this need to turn data into information, then into action, that presents the most challenge, according to the Wall Street Journal.
This concentration is a perfect complement for majors in Marketing, Finance, General Management, and Accounting. Data analysts need strong math and communication skills. They work on diverse teams and prepare excellent presentations.
Data Analytics is a major focus of the undergraduate and master’s programs offered by Krannert. For a deep dive, Krannert offers a one-year Master’s Degree in Business Analytics and Information Management and hosts the Krenicki Center for Business Analytics & Machine Learning which presents student case competitions, grants scholarships, and sponsors experiential student projects.