Warwick Business School has teamed up with the world's biggest computer services provider IBM and SAS, a world leader in business intelligence software, to teach students how to mine Big Data.
The digital age has seen an explosion in data with IBM calculating the world is churning out 2.5 quintillion bytes of data every day.
What to do with this tsunami of data, how to mine it and aggregate it is how today's businesses are gaining an advantage over their rivals. In the US alone consultants at McKinsey calculated companies were crying out for 1.5 million Big Data analysts.
It is the next frontier of innovation for businesses and now students studying MSc Business Analytics at Warwick Business School can learn the latest quantitative consultancy techniques to take advantage of this torrent of data.
Working with Warwick Business School'sOperational Research & Management Science (ORMS) group IBM has helped put together Analytics in Practice, a module that will explore the technology needed for Big Data analytics by using tools such as BigSheets (front end for Apache Hadoop), Cognos and SPSS Modeler.
While with SAS the ORMS group has produced Text Analytics where students will learn predictive modelling techniques using SAS software, model assessment and implementation, report writing and learn to use the SAS Text Miner tool and applications.
Assistant Professor of Operational Research Arne Strauss is delighted to have joined forces with two huge companies in the IT industry who are at the forefront of Big Data technology.
"Data mining skills are something that more and more companies are looking for from graduates and these two modules offer students cutting edge technology to learn the latest techniques," said Dr Strauss.
"Warwick Business School has a long and fruitful relationship with IBM and we are delighted to have put together the Analytics in Practice module with them. It will expose students to real life analytical applications via case studies in IBM's focus areas such as smarter cities and improving business performance. As well as focusing on current IBM software offerings, the course will analyse emerging trends in the field and look specifically at the new generation of knowledge and learning systems that are being built from a foundation of unstructured data, predictive technology and analytical capability such as IBM Watson.
"We are equally pleased to be working with SAS in producing the Text Analytics module. SAS skills have never been in greater demand in the UK and are heavily used in the financial, retail and government sectors.
"Businesses store massive amounts of unstructured data in the form of electronic text, social media content, emails, service notes, customer reviews and so on. This module will teach students how to sift through this data by using sophisticated linguistic rules and statistical methods to evaluate text, discover topics and patterns within entire document collections. By the end of the module students will have learned how to uncover underlying themes or concepts contained in large document collections, automatically group documents into topical clusters, classify documents into predefined categories and integrate text data with structured data to enrich predictive modelling endeavours."
Students interested in learning more about Big Data mining, the modules and MSc Business Analytics should go to the WBS Masters Open Day on Wednesday March 19.
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Notes to editors:
Warwick Business School, located in central England, is the largest department of the University of Warwick and the UK's fastest rising business school according the Financial Times. WBS is triple accredited by the leading global business education associations and was the first in the UK to attain this accreditation. Offering the full portfolio of business education courses, from undergraduate through to MBAs, and with a strong Doctoral Programme, WBS is the complete business school. Students at WBS currently number around 6,500, and come from 125 countries. Just under half of faculty are non-UK, or have worked abroad. WBS Dean, Professor Mark P Taylor, is among the most highly-cited scholars in the world and was previously Managing Director at BlackRock, the world's largest asset manager.
Dr Arne K Strauss is Assistant Professor of Operational Research in the ORMS Group at Warwick Business School. Previously, he held a position as Senior Research Associate under the LANCS Initiative at Lancaster University's Department of Management Science where he completed the PhD programme in 2009. From October 2009 until September 2010, he held an EPSRC PhD Plus fellowship (now re-named as EPSRC Doctoral Prize) at Lancaster. Before beginning his doctoral studies, he obtained a Masters degree in mathematics from Virginia Tech, USA, as well as a diploma (equivalent to Masters degree) in mathematics and business administration from the University of Trier, Germany, in 2006. During his doctoral studies, his main research area was revenue optimisation involving models of customer choice; an interest that he continues to pursue with various on-going projects, including industrial collaborations, eg with Lufthansa Systems. He won the doctoral prize of the Operational Research Society for the best PhD dissertation 2009, the Goodeve Medal for the best paper in the ABS 3* Journal of the Operational Research Society in 2012, and various other awards. He is a member of the organizing committee of the 11th International Conference on Applied Mathematical Optimization and Modelling that will take place at Warwick in April 2014. He serves as referee for various international journals such as Operational Research, Production & Operations Management or Manufacturing & Service Operations Management.