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College of Business to offer new business analytics major next fall

Loyola press release - April 9, 2015

Business analytics, the study of the way in which organizations use data to make decisions and achieve their goals, is one of the biggest trends in business education these days. To keep up with that growing demand, the Loyola University New Orleans College of Business is adding a new major and minor in business analytics for the Fall of 2015.

The new program crosses all business disciplines and is interdisciplinary in its inclusion of supporting coursework from mathematics and computer science. It is designed to develop three core areas of expertise, including:

  • technological skills needed to manage the data and databases which businesses use on a daily basis;
  • analytical skills required to make sense out of business data and create mathematical models of business decisions; and
  • decision-making and management skills, which allow students to implement analytical results for continuous improvement of an organization.

The Bureau of Labor Statistics estimates 133,000 new jobs will be added to the field of management analysis by 2022, and an additional 244,000 jobs will be added to the field of operations management, putting them among the 30 fastest-growing occupations.

“We hope that students will find work in fields as diverse as supply chain management, marketing research, business development analysis, applied economic forecasting, and many more,” said Nate Straight, MBA '08, the assessment coordinator for the College of Business.

According to Straight, business analytics gives students a very broad preparation in a highly interdisciplinary set of skills.

“Every business uses data and needs people who can manage it effectively and who have the analytical skills needed to leverage data for decision making. The hope is the program will produce graduates who will be able to fill many organizational roles, not specialists whose education has only prepared them for narrowly defined jobs. By providing students with a holistic understanding of organizational development and decision making, we prepare them to better navigate an increasingly complex job market and create their own career path," Straight said.

For more information, visit http://www.business.loyno.edu/business-analytics.