Modern businesses need to develop systems that go beyond the simple storage and retrieval of data as was done in the past. Those systems now need to facilitate multiple and unique ways of data analysis. These data analysis techniques being employed allow companies to discover new information about their business and customers from the deluge of data that is now available. This information along with the process of its derivation is known as business intelligence.
Business intelligence is the application of statistical and machine learning techniques within databases and specialized data stores to extract patterns and anomalies for the purpose of providing information to businesses to improve operations, reduce costs, attract and retain customers, and increase revenue.
Holy Family University is one of the few colleges in the area that offers this up-and-coming, elite degree program, and our program requires more BI courses than similar ones, better preparing our students for their careers. Led by data expert faculty and using the most relevant software and technology, the courses involve the merging of the different areas of information science, computer science, statistics, and mathematics.
A business intelligence professional is:
- Well-versed in programming with specialized statistical languages for analyzing and visualizing data;
- Knowledgeable of elementary and advanced statistics, machine learning, and artificial intelligence;
- Skilled in the creation of databases and specialized data storage systems, such as data warehouses;
- Skilled in the business areas of accounting, economics, and quantitative marketing and management.
It is exactly those skills you will learn by pursuing a Business Intelligence Concentration within the School of Business Administration, and it is with those skills that you can seek a well-paying and varied career in a number of different industries that is in great demand.
A McKinsey study indicates that by 2018 the number of data science jobs in the United States alone will exceed 490,000, but there will be fewer than 200,000 available data scientists to fill these positions, and the United States alone could face a shortage of 1.5 million managers and analysts with the know-how to use the analysis of big data to make effective decisions.