Humans have been trying to predict the future for centuries. Fortune tellers no longer rely on tea leaves, palm readings or the stars to anticipate the future. These days we live in a data-age where all around us millions of data are produced and collected every minute. Today’s fortune tellers know how to unravel the mysteries within these data-sets and for unlocking the patterns, companies are willing to pay high salaries.
The right knowledge can translate the raw data into insights that help solve important problems in business and society. Building models and creating data visualisations to tell clear stories and insights.
“Being able to harness the power of data is hugely important in this day and age. Problem solvers all around the world in all kinds of disciplines are using this information. Knowing when to use what method really sets you apart”, says Jeremy Forbes, Data Scientist at KPMG.
When we talk about Big Data we picture the giant tech companies: Facebook, Amazon, Google. But skills in statistics, business analytics and data science are incredibly sought after across a range of organisations and industries such as retail, health care, the environmental sector and not- for-profits. The growth in artificial intelligence, data science and big data analytics will create 2,7 million new jobs world wide until 2020, according to a forecast by PricewaterhouseCooper. The job opportunities are abundant and because of the high demand, salaries are booming.
So improving your knowledge of data science and business analytics might be your best career move yet.
“I see myself as a creative person but I also really enjoy maths. Data analytics allows me to marry the creative and strategic thinking with the maths behind the models we use and the information we create”, says Stephanie Kobakian who is a Business Analytics student at Monash Business School.
Tools and methods are changing fast. As a professional skilled in business analytics you understand the data-driven world and your insights solve problems and shape policy, help organisations make the right decisions and can have a positive impact on a number of challenges such as climate change, energy policy, infrastructure or agriculture. You may even provide answers to questions we haven’t yet thought to ask.
For the first time in 2020 Monash Business School is offering a Master of Business Analytics, where you will develop these crucial skills that make you stand out in the job market. You will acquire cutting-edge techniques, and rigorous foundations in statistical thinking, probabilistic modelling and computational techniques.
But it is also vital to transform theoretical knowledge into practice in the real world. Monash Business School has a long track record of excellence in data science and business analytics and many staff conduct research and consulting with major organisations such as Amazon, Facebook, Tennis Australia and AGL Energy. This provides students with a unique hands-on experience. You will be taught by experts such as Professor Rob J Hyndman and Professor Dianne Cook who have contributed greatly to the development of the field and are amongst the world’s most renowned researchers in the area.
“The Master of Business Analytics is developed to train the next generation of data scientists. There are a lot of new and exciting job prospects in this field. Students will work in a small and elite program with world renowned instructors”, says Professor Dianne Cook.
Other experts in the field are already enthusiastic about the program, calling it “the best Business Analytics program in Australasia and in the Southern hemisphere and among the best in the world…”
If you have a background in maths, engineering or computer science and want to boost you career, this may be your way forward.
Ready to transform the world of business through data?