Business analytics is the application of quantitative analytical tools for the purpose of value creation in business.
Availability of large amounts of data creates new possibilities and challenges for businesses, and the ability to make good decisions based on big data is a critical factor for survival in the modern economy. Therefore, business analytics skills are in high demand in the modern job market.
In this major you will learn programming and data management, how to use statistical tools in order to explore and deduct patterns from data, how to use optimization and simulation tools to support better decision making in practical situations, and how to employ tools like machine learning and artificial intelligence for automated decision support. You will have the opportunity to learn how to apply analytical tools to practical decision making situations in operations management, marketing and pricing, finance, accounting, and auditing, and you will also develop your communicative and collaborative skills by participating in team projects and by presenting your findings.
The major broadly covers the following areas:
- Programming skills for data handling and problem solving in business.
- Data analysis. Statistical learning and predictive analytics for learning and extrapolating from data.
- Business modelling and prescriptive analytics. Using optimisation models and simulations for decision support, analysis and improving business processes.
Upon successful completion of the major, the candidates shall
K1: Have a solid knowledge about relevant methods from statistics and operations research
K2: Have in-depth and up-to-date knowledge on how to use data to support decision making in business
K3: Understand business analytics articles published in international scientific journals and formulate relevant research questions
S1: Build and solve decision models for real-world business problems
S2: Bring together decision modelling and data analysis for practical business applications
S3: Be proficient in computer programming in order to write code for business analytics problems and to communicate well with software developers
G1: Solve business analytics problems in teams with people from different backgrounds
G2: Reflect on the ethical challenges specific to business analytics
G3: Contribute innovative solutions for business analytics problems and communicate them to executives and other stakeholders
The compulsory courses provide you with knowledge and skills about the following core areas:
- Programming (7.5 ECTS). A minimum requirement is BAN401 (7.5 ECTS), or BAN420 (2.5 ECTS) in combination with two other approved 2.5 ECTS programming courses (current list: BAN421, BAN422). We strongly recommend that you take the introductory courses in R programming, BAN401 or BAN420, in the first semester. This skill is needed in later courses.
- Predictive analytics (7.5 ECTS). You can choose between BAN404 or FIE453. It is possible to take the other one, the one not chosen as a core course, as an elective.
- Business modelling and prescriptive analytics (15 ECTS). You will learn how to use optimization models for decision support (BAN402) and how to use simulation to analyze and improve business processes (BAN403).
The remaining 15 ECTS of the major must be chosen from the list of electives.
This major is suitable for those seeking jobs as analysts, either in companies or as consultants, and in general to all those seeking to complement their business background with analytical skills to succeed in the modern data-driven environment. A thorough understanding of business analytics will also enable you to communicate with technological experts and be useful for digital strategy managers.
- Bachelor’s degree
Admission to master’s degree studies in Norway requires Higher Education Entrance Qualification and a completed degree comparable to a Norwegian bachelor’s degree. Please refer to NOKUT (The Norwegian Agency for Quality Assurance in Education) for information about the minimum educational requirements for your country.90 ECTS must be within economics and business administration. This may include methodological subjects like statistics or mathematics, but not exclusively. 30 ECTS must be within business administration (e.g. finance, accounting, strategy, marketing, statistics, mathematics, etc.). Economics courses such as micro- or macroeconomics may not count toward the business administration requirement. This requirement is absolute and cannot be compensated by work experience, test results or other criteria.Applicants are ranked according to their grade average. Your GPA should correspond approximately to a B on the ECTS grading scale. Admission is highly competitive with only one in eight applicants being offered admission. If you are to complete your degree in the spring semester of the admission year, admission will be assessed on results up to and including the penultimate semester. If offered conditional admission based on ongoing education and final transcripts result in an unacceptable decrease in grade point average, you will be refused unconditional admission.
- GMAT or GRE
Applications not including a GMAT/GRE test by March 15 will under no circumstances be considered, unless you belong to one of the few groups exempted (see Exemptions from the GMAT-/GRE requirement below).Minimum test scores required:
- GMAT: a total score of 600 points (Programme code: 7KZ-ZK-01)
- GRE: 152 points on the quantitative reasoning section (Programme code: 0686)
Test scores must be less than five years old at the time of the application deadline and only test scores issued to NHH directly from the issuing authority are accepted.
EXEMPTIONS FROM THE GMAT-/GRE REQUIREMENT
- English language requirement
Unless you belong to one of the groups exempted (see below), you must document a good command of the English language by passing one of the three tests below:
- TOEFL – Test of English as a Foreign Language (Programme code: 0686) Minimum total score: 90 points on the internet based test, 575 points on the written test or 233 on the computer-based test
- IELTS Academic – International English Language Testing System
Minimum overall band score: 6,5
- PTE Academic – The Pearson’s Test of English. Minimum score: 62
Test scores must be less than two years old at the time of the application deadline and only test scores issued to NHH directly from the issuing authority are accepted.
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