Every industry is waking up to the power of analytics. Companies need people who can use business data to make predictions and subsequently decisions that will bring value to their organizations. The use of analytics has become a reinforcing loop: Once you start using data and see its benefits, you use it more and more. MIT understands the importance of using data, which is why business analytics is a critical part of the MIT EMBA curriculum.
This focus on analytics differentiates us from other executive MBA programs. We weave business analytics throughout the core curriculum in classes like Applied Economics, Data Models and Decisions (DMD), Operations Management, and System Dynamics. And we offer deeper dives into analytics through popular electives like the Analytics Edge.
In addition to teaching theory and engaging students in case-based discussions, students have opportunities for Action Learning where they can immediately apply what they learn in class to their jobs. They also apply learning to hands-on class projects and Lab courses.
Interested students have opportunities for even more specialization. They can earn a Business Analytics Certificate, which prepares them for careers in analytics across a variety of industries. The certificate, which is further detailed in this newsletter, is offered for all MIT students and complements the Master of Business Analytics (MBAn) degree that was launched in 2016 as well as leading PhD and Master of Science degrees offered by the Operations Research Center.
While many students come to the MIT EMBA program seeking analytical rigor, not everyone comes from a quantitative background. A common concern I hear from some students is about whether they can succeed in these courses. I tell them not to shy away from business analytics or convince themselves in advance how it’s not for them because of their background. When students take these classes, they see that analytics is about much more than math. We not only teach the quantitative foundations, but we also use real-life examples to show the value of business analytics for students working in all areas.
The ability to understand and use analytics is an important skill for businesses today to make more informed decisions. That is why we teach students competency in analytics, so they know how to ask the right questions, parse through data, and translate insights into actions. This focus made MIT an early pioneer in business analytics and continues to set us apart in management education.
Faculty Director, MIT Executive MBA program
Note: Georgia Perakis is the founder of the MIT Business Analytics Certificate and has taught the core Data, Models and Decisions class since its inception.