MSc in Business Analytics

Dr Seán McGarraghy

Programme Director

Engineers, Computer Scientists, Mathematicians, Other Quantitative Degrees,

Graduates of Business Studies (MIS)…

What is Business Analytics? Many organisations have a lot of data

•  but don't know what to do with it, •  or how to extract the most value from it.

Business Analytics is a set of analytical methods for solving problems and aiding decision-making, particularly in the context of large amounts of data.

It is develops and applies models and concepts to illuminate management issues and solve managerial problems, for example:

•  exploring new ways to tackle problems faced by managers •  aiding clarification of objectives and priorities •  defining alternative strategies •  investigating costs and benefits •  identifying patterns, trends and optimal or near-optimal

solutions

Analytics: The Future for Business

These quantitative techniques for business decision-making are increasingly important: •  in rapidly changing markets

•  facing increasing competition •  challenged by tighter margins •  however, with large amounts of data available

•  and increased computing power

We can achieve better analysis, accurate results, improved or optimal performance success.

The ability to think creatively and communicate well is vital, since Analytics experts should be in close contact with their business clients.

Many different organisations use the principles and practices of Analytics. Major users include:

•  Banks and finance houses

•  Management consultancy companies •  Government and the Public Service

•  Engineering and manufacturing industries •  Transport systems, e.g. Railways, Airports, Airlines

Business Analytics (also called Management Science or Operations / Operational Research) is found almost anywhere major decisions, with large resource implications, are made.

Who uses Business Analytics?

Our MSc in Business Analytics is a specialist management programme which

•  builds on students’ technical and analytical knowledge and experience, and

•  provides the technical skills needed to o  model practical problems, o  develop solution approaches o  and implement these techniques

(e.g., customise or develop software)

in a business problem-solving environment.

This is a technically focused programme directed at management applications, not a general course about management!

Course Overview

Who is this course designed for?

•  Graduates of: –  Business Studies (with relevant options)

–  Engineering –  Computer Science –  Mathematics –  Degrees with quantitative content

•  Graduates need: –  an aptitude for mathematics –  an inclination towards computer programming –  to want to use their technical strengths at the

start of their career in management

•  Full time and part time students: part-time classes timetabled after 5pm

Course Objectives

•  To build on intellectual, academic, project & mathematical skills

•  improve software development skills

•  develop skills, i.e., problem analysis, creating solutions, implementation of solutions by means of customising or developing software

•  deepen understanding of the theory & practice of allied information systems

Educational Approach

•  1 year full time or 2 years part time

•  8 taught modules in total o  Semester 1: 4 core modules (2 for part time) o  Semester 2: choose 4 out of 5 options

(2 out of 3 for part time schedule)

•  Each module has three hours class contact per week, plus scheduled tutorial sessions

•  Lectures, group and individual project work

•  Dissertation project, presented in September, involves full-time work on a real management problem, generally with an Irish company. It is worth one third of the degree.

Subjects •  Semester 1: 4 core modules, 30 credits

–  Quantitative Methods –  Numerical Analytics and Software –  Project Management and Decision Analytics –  Applied Probability and Statistics

•  Semester 2: 4 option modules from 5, 30 credits –  Analytical Business Modelling –  Simulation Modelling and Analysis –  Network Software Modelling –  Decision Support and Business Intelligence –  Data Mining Models and Techniques

•  Dissertation and support module, 30 credits –  Producing the Dissertation

Recent Dissertations •  Predicting fraudulent behaviour in Tax Entities

using Supervised Data Mining •  Phased Multicriteria Credit Assessment •  Swarm Intelligence Optimisation of Time

Capacitated Arc Routing Problems •  Will more regulation increase the effectiveness of

Securities Exchanges: An investigation using an Agent-Based Model

•  A Simulated Annealing approach to the Unit Commitment problem: the Irish Electricity Market

•  Cellular network optimisation •  Design and implementation of a blog mining

toolset for viral marketing

Industry Partners

The MSc in Business Analytics is taught by members of the UCD Centre for Business Analytics It benefits from links with industry and state partners, e.g.,

–  Analytics Institute –  SAS –  IBM –  Accenture –  Revenue –  CSO –  Distinct Consulting –  AON –  Many others

Careers

Careers in: –  business analytics –  management consulting –  software –  financial analysis / services –  supply chain / logistics management –  operations research

Graduate destinations

•  Consulting companies: Accenture, IBM, Deloitte Consulting, Sapient, BearingPoint, PA Consulting, Distinct Consulting

•  Industry: Intel, Dell, Cartrawler

•  Software: eontec.com, Murex, IBM

•  Operations research: Aer Lingus, Revenue Research Inc, E.on

•  Financial services: A.I.B., J.P. Morgan, ABN AMRO, Goldman Sachs, First Derivatives

Minimum Entry Requirements •  Graduates of quantitative degrees

–  require substantial quantitative component and a computer programming element

–  The minimum entry requirement is usually a high second class honours

•  Overseas Students may be asked to provide a GMAT or GRE quantitative component score (i.e. mathematics)

•  Two Academic References (employer if part-time)

•  English Language Test (i.e. TOEFL or IELTS) for graduates whose undergraduate degree was not taught through English

Government Funding

•  The Programme is included in the HEA’s Graduate Skills Conversion Programme 2010, which is funded by the National Development Plan (NDP) of the Irish Government. Consequently, for EU citizens, most of the fees on the programme are covered.

Fees for 2011-2012: EU citizens €2750, or part-time €2750 p.a. Non-EU citizens (to be confirmed) €8800,

or part-time €5200 p.a.

Scholarship / Bursary Opportunities •  Scholarship

Distinct Business Consulting Ltd support the UCD Michael Smurfit Graduate Business School MSc in Business Analytics by offering the annual Distinct Scholarship.

Its value is €3000 for the 2010-2011 academic year.

Applications will be invited from people who have accepted full time places on the programme and who have achieved the equivalent of a First Class honours (at least 3.68 GPA) or a Second Class Honours, First Division (from 3.08 to 3.67 GPA inclusive) in their undergraduate degree.

Applications will be accepted until the 31st July 2011.

•  Bursary

SAS and Damovo/Zerotouch sponsor the annual Dr Patrick Perry Bursaries to recognise the best student and the best dissertation for their performance and achievements during their time on the Programme.

Name Change

•  The MSc in Business Analytics was previously known as the Master of Management Science (MMangtSc or MMS) from 1974 to 2008

•  Similar structure, also NDP funded

•  Subjects upgraded to reflect recent trends

•  A New Business Model for Education:

o  More focus on relationships with employers

o  Part-time emphasis: afternoon / evening lectures

o  Focus on Services (Financial, Retail, etc.) as well as Manufacturing applications

•  Applications are made online at http://www.smurfitschool.ie Click the button "Apply Now”

•  Original transcripts required for all university-level degrees, including grades for all individual subjects

•  Two academic references required. Part time students may supply an employer reference. (Reference Forms are supplied with the link to online applications on the website).

•  Scores for the GMAT or an equivalent test e.g., GRE, may be required.

Application Process

•  No strict deadline but this may change as places are filled. We suggest applying by early April.

•  Applications are reviewed as they arrive, so delay may be costly.

•  Non-EU applicants need time to arrange a visa.

•  Support documentation (References, Transcripts, GMAT/GRE Scores if needed, etc.) should be submitted by mid-July to the Admissions Office in the Smurfit School

When to Apply?

•  Immediate offers for very strong complete applications.

•  Immediate but conditional offers for strong but incomplete applications (e.g., undergraduate degree exams not yet done), with final decisions made upon receipt of all required items.

•  Decisions for most applications in June or July.

When to Expect a Decision?

For more information:

MSc in Business Analytics Programme Manager: Ms Annmarie Connolly

Tel: (01) 716 8075

Email: analytics@ucd.ie

Website: www.smurfitschool.ie/businessanalytics

• Programme Director Dr. Seán McGarraghy Sean.McGarraghy@ucd.ie

• Alternative academic contacts Dr. Peter Keenan Peter.Keenan@ucd.ie Prof. Cathal M.Brugha Cathal.Brugha@ucd.ie

Any Questions