Business Studies Planning a Makeover with Big Data Revolution!

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“You’re never going to get a concise, consistent answer,” says Andrew McAfee of MIT Sloan. Yes, when you ask what exactly big data revolution is, you will be swamped by a plethora of impressive replies but none of them will help you to steer clear. It is because the subject has just emerged and expanding at a rapid pace.

According to Robert Grossman, operations management professor at Chicago Booth, “It is about asking the right questions to get the information on which to make business decisions. But it is about more than data mining and building statistical models”. “[It’s about] how you embed the analytical models in your products to increase profits or reduce risk, for example”, he adds further.

Data analytics changing business…

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The rising science of translating everything into figures is practically helping humans to take a more searchable form. The close acquaintance you share with your computing devices is the prime source in fact, helping them to unearth more details regarding human behaviors, preferences and expectations. Launching a product or service is less hazardous. Now onwards they will only design everything based on your choice. So, data science is big discovery influencing the future of business to a great extent. It’s changing corporate strategies and also the perspectives of famous brands around the world.

It’s time for new curriculum!

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So, there’s no need to add that this recent revolution will be generating new demands and opportunities in the educational sector. In the midst of millions of information the requirement for experts is increasing, who are able to acquire, manage, and process such huge collections of multiple data and are skilled enough to convert them into business profits. Big Data, therefore, is rapidly evolving the business school curriculum. The courses being offered focus on the expertise that the students will need to possess to compete with the changing strategies of business economy.

To come up with more relevant ideas and products more and more people today need working and managing big data. To understand their customers and drive corporate growth, the businesses today require smart professionals to improve their sales. In addition, expertise in big data management or data analytics is expected to resolve big issues in areas like medicine, public policy, agriculture and engineering. So, the increasing demand is a clear message to the business schools to introduce courses that would help the learners acquire skills to understand and compete in a data-driven world. “You can’t just go in and sell raw data capabilities,” says Pivotal CEO Paul Maritz, in an exclusive interview with CRN in advance of the formal launch of Pivotal. “It doesn’t help to go in and say, ‘I can give you some of this big data.’ You have to go in and say, ‘Here is how you can transform your business by understanding larger and more diverse data sets,’ he adds.

For example…

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Popularly known as the leader in big data, IBM has been helping many universities to develop an effective curriculum in big data. It has recently collaborated with Rensselaer Polytechnic Institute’s Lally School of Management & Technology to offer a masters degree in business analytics. This is the latest one among 300 partnerships of IBM with various learning institutions for providing guidance to learn big data analytics.

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But avenues are not only opening for campus learners. Course providers have options for working professionals too! Online international business schools are offering lucrative opportunities for the people who have little scopes to get back to school. Learners with busy schedules, who want to remain updated with the market and understand the emerging science of myriad information, can do so with the help of such courses.   

According to the experts, this big data revolution, the recent trend in technology helping a dramatic revelation of human existence will impact history, science, economy and society to a large extent. Emergence of Big Data refers to an art that humans have managed to master; a technique of exploring a huge a collection of information within a few moments, investigate them instantly and draw an impressive conclusion from the analysis unwrapping a flavorsome fortune cookie for the business world. 

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