Proposal 15-13

http://www.admin.mtu.edu/usenate/propose/13/15-13.htm

The University Senate of Michigan Technological University Proposal 15-13

(Vong Units: Academic)

Proposal for a New Concentraon in Business Analycs (within the B.S. in Mathemacs)
Contact: Mark S. Gockenbach, Professor and Chair Department of Mathemacal Sciences (msgocken@mtu.edu)

1. General descripon and characteriscs of program

Business analycs describes the use of mathemacal and stascal modeling to opmize business performance. Concomitant increases in compung power and the amount of data collected have led to the development and widespread adopon of analycs by numerous industries. The proposed concentraon in Business Analycs will combine core coursework in mathemacs with advanced stascs, data mining, predicve analysis, and selected business disciplines, including markeng, operaons and systems management, and management informaon systems. Graduates will present a combinaon of skills and conceptual understanding that will be highly valued by todays employers.

2. Raonale
The impetus for this concentraon in Mathemacs has come from several dierent sources. A Michigan Tech alumnus who is a leader at IBM contacted the university to propose a collaboraon to produce more graduates with analycs skills. In this conversaon, he pointed out that IBM regards analycs as one of four main growth areas for the company. At the same me, Michigan Tech students majoring in Mathemacs were beginning to get internships and jobs in analycs-related posions. Companies as diverse as Caterpillar, Target, Humana (insurance), and Mercer (actuarial consulng) have begun recruing students for analycs posions. Mathemacal Sciences currently oers a concentraon in Actuarial Science. It is the most popular concentraon in Mathemacs, and our graduates have been in high demand by insurance companies and actuarial consulng rms. The Actuarial Science concentraon is designed to give graduates specic skills in mathemacs and stascs needed for the actuarial profession, as well as a background in business that allows them to be successful in a business seng. Given the interest shown by various industries in analycs, the me is ripe for a similar concentraon in Business analycs. It is expected that Business Analycs will have the same kind of appeal to students that Actuarial Science has: It gives mathemacally adept students an avenue to apply their unique skills and inclinaons in an area that is in high demand. The introducon of the Actuarial Science concentraon corresponded to an increase in the total number of students majoring in Mathemacs. It is expected that the proposed Business Analycs concentraon will also lead to more students majoring in Mathemacs. The proposed concentraon in Business Analycs supports Michigan Techs strategic plan in the following areas: Goal 1 A world-class and diverse faculty, sta, and student populaon. 1.1 Outstanding professional environment for all members of the Michigan Tech community. * recruit, retain, support, and recognize bright, movated, and adventurous students. Goal 2 A disncve and rigorous discovery-based learning experience grounded in science, engineering,

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technology, sustainability, the business of innovaon, and an understanding of the social and cultural contexts of our contemporary world. 2.1 Integraon of research, instrucon, and innovaon. * strengthen exisng programs and develop new oerings in emerging interdisciplinary areas. The proposed program is in an emerging interdisciplinary area, and for this reason should make it possible to recruit and retain more students.

3. Discussion of related programs within the university and at other instuons

Masters degree programs in analycs have been started at several universies in the last few years: Master of Science in Analycs, North Carolina State University (2007) Master of Science in Predicve Analycs, DePaul University (2010) Master of Science in Predicve Analycs, Northwestern University (2011) Master of Science in Business Analycs, University of Tennessee-Knoxville (2010)

We are not aware of any degree programs or concentraons in Business Analycs at the bachelors level. Related programs at Michigan Tech include the other concentraons in Mathemacs and three degree programs in the School of Business and Economics (SBE): Operaons and Systems Management (OSM), Markeng (MKT), and Management Informaon Systems (MIS). Other concentraons in Mathemacs: The proposed concentraon in Business Analycs will require the same courses that form the core of all concentraons in Mathemacs: calculus (three semesters), linear algebra, and introducons to stascs, combinatorics, dierenal equaons, abstract algebra, and real analysis. This core provides a broad introducon to Mathemacs and allows students to change from one concentraon to another with ease during the rst four or ve semesters in the program. Concentraon requirements will include advanced coursework in probability and stascs as well as courses from SBE and Computer Science. In broad outline, the concentraon requirements are similar to those of our successful concentraon in Actuarial Science: we provide the advanced coursework in stascs required for a strong foundaon in the area, while drawing on the strengths of SBE (and Computer Science for one course). As noted above, the exisng concentraon in Actuarial Science is most similar to the proposed concentraon. However, Actuarial Science is much more narrowly focused and industry-specic (most actuaries are employed by insurance companies and actuarial consulng rms). Business Analycs is applicable to a wide variety of industries. Programs in SBE: Analycs is nding heavy use in the disciplines of markeng (targeted adversing based on analysis of consumer data) and operaons management (especially supply chain management). It is based on many of the concepts and techniques of MIS. Students pursuing the Business Analycs concentraon will take courses from SBE in each of these areas. SBE degree programs in OSM, MKT, and MIS are natural choices for a double major.

4. Curriculum design
Major requirements Course # MA1160 MA2160 MA2330 MA2710 MA3160 MA3210 MA3310 MA3450 Course Name Calculus with Technology I Calculus with Technology II Introducon to Linear Algebra Introducon to Stascal Analysis Calculus with Technology III Introducon to Combinatorics Introducon to Abstract Algebra Introducon to Real Analysis Credits 4 4 3 3 4 3 3 3

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MA3560 CS1121

Math. Modeling with Dierenal Equaons Introducon to Programming I Lab Science (BL,CH, or PH) Science, Engineering or Computer Science Major requirements subtotal

3 3 4 5 42

Concentraon requirements Course # MA3720 MA3740 MA4710 MA4720 MA4780 MA4790 CS4xxx EC2001 MKT3000 OSM3000 MIS2000 MIS2100 MIS3100 MIS3400 MKT3600 OSM4760 Course Name Probability Stascal Programming and Analysis Regression Analysis Design and Analysis of Experiments Time Series Analysis and Forecasng Predicve Modeling Data Mining Principles of Economics Principles of Markeng Operaons and Supply Chain Management IS/IT Management Introducon to Business Programming Business Database Management Required elecves-choose two Business Intelligence Markeng Research Opmizaon Methods in Decision Making Concentraon requirements subtotal Credits 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 45

General Educaon requires 24 credits beyond what is listed above (12 credits for core courses, 12 HASS credits; note that STEM requirements are fullled within major requirements). This degree program allows 13 credits of free elecves.

5. New course descripons

MA4790 Predicve Modeling Applicaon, construcon, and evaluaon of stascal models used for predicon and classicaon. Topics include data visualizaon and exploratory methods, the normal theory regression model, logisc and Poisson regression, linear and quadrac discriminant analysis, and classicaon with logit models. Pre-Requisite(s): One of: MA3740, MA4710, MA4720, or MA4780 Credits: 3.0 Lec-Rec-Lab: (0-3-0) Semesters Oered: Spring Lab Fee: Required CS4xxx Data Mining Data mining focuses on extracng knowledge from large data sources. This course introduces data mining concepts, methodology (including measurement, visualizaon, and evaluaon), algorithms (including classicaon/regression, clustering, and associaon), and applicaons (such as web mining, recommendaon systems, and bioinformacs). Pre-Requisite(s): ((MIS3100 or CS4421) and MA2330 and (MA2710 or MA3710) and ((MA3740 and (CS1121 or CS1131)) or CS2321)) or permission of instructor Credits: 3.0 Lec-Rec-Lab: (0-3-0) Semesters Oered: Spring CS4xxx has been oered as CS4090 Special Topics in Computer Science and a new course proposal is aached.

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6. Addional resources required

Because this concentraon is based almost enrely on exisng courses in Mathemacal Sciences and SBE, no signicant addional costs are ancipated. One new course is being developed in Mathemacal Sciences, the cost of which can be absorbed in the departmental budget (Mathemacal Sciences oers more than 175 secons per year, so the marginal cost is not signicant). Also, one new course is being created in Computer Science, but that course probably would have been created independently of this proposal (it is in the research area of a new CS faculty member).

7 Accreditaon requirements
None; there is no accreding body.

8 Planned implementaon date

Fall 2013

Introduced to Senate: 23 January 2013 Approved by Senate: 6 February 2013 Approved by Administraon: 11 February 2013 Approved by BOC: 28 February 2013 Approved by State: 12 April 2013

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