Business Analytics and Quantitative Marketing

SubjectEconomics, Marketing

LevelMaster

Type of DegreeMSc

CostEUR 2,006 2017/2018

Funding-

More Information-



Big data is a hot topic in the popular press, in business, and in academia. The short summary of big data is “to use data analysis to help make optimal decisions”. Applications of such analyses can be found in many fields, from medicine to economics and business. To get some idea about the breadth of questions that can be answered take a look at prediction competition websites such as Kaggle

This MSc specialisation focusses on using data analysis to make the best decisions in business, that is, business analytics. There are various aspects to analytics, ranging from computer science to the question how to embed data analytics in the business model of companies. Here, the emphasis of this MSc is on the methodological aspects of data analytics that is, on the econometric and statistical techniques that are needed to convert data into knowledge.

Many of the business questions we study are (in)directly related to marketing questions such as: what product should I offer a particular customer given her purchase history, how do (individual) consumers react to promotions, and what is the optimal promotional schedule? Answering such questions using data also falls under the domain of Quantitative Marketing.

Business analytics has become an important component of every-day business for many companies. Such companies require quantitative support for most of their operational and strategic decisions. Examples are found in many fields, for example, in understanding and obtaining knowledge about markets and customers, or in the optimal targeting of potential customers. Providing such support, however, is not straightforward.

The complexity of the problems calls for researchers with a strong quantitative background and knowledge of statistics and econometrics. The need for researchers with excellent quantitative skills is considerable and will continue to grow in the future. The aim of this MSc specialisation is to provide high-quality training to enable students to pursue successful careers in business or science.

Target group

The MSc specialisation in Business Analytics and Quantitative Marketing is ideal for students with an interest in the technical aspects of data science, students who want to use state-of-the-art methods and techniques to retrieve the value that is hidden in the many databases that are currently available. Students studying Business Analytics and Quantitative Marketing should have a strong interest in, and prior knowledge of mathematics, statistics, and econometrics. The programme is highly quantitative and prepares students to be able to solve business questions from an analytics point of view.

After finishing the MSc programme, students are able to perform quantitative research on their own. They are able to develop (new) statistical models for practical problems, apply appropriate statistical techniques and present the results.


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