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mbs.

edu/mbusa
WELCOME TO THE WORLD CLASS
CONTENTS
PROGRAM
SNAPSHOT
PROGRAM SNAPSHOT 2
Program details
Length: one year, starting in January WELCOME TO ANALYTICS 4
Fees: AU$53,700*
FEE-HELP and major government student WELCOME TO MELBOURNE BUSINESS SCHOOL 5
support payments (Austudy, ABSTUDY and
Youth Allowance) available to those who
MASTER OF BUSINESS ANALYTICS 7
meet the eligibility criteria
CASE STUDIES 8
Class size: approximately 5070
Median age: 24 years WHY BUSINESS ANALYTICS? 12
Contact hours: 3840 hours a week
Delivery: full-time PREPARING YOU FOR THE WORKING WORLD 13
Provides SAS certification
PROGRAM STRUCTURE 18

PROGRAM TIMELINE 18

Pre-requisites MODULE 1 20
Undergraduate degree with a credit average or
above
MODULE 2 21
Evidence of academic success in quantitative
MODULE 3 22
subjects and a natural talent and passion for
working with data MODULE 4 23
Evidence of English proficiency The Master of Business Analytics has
Interviews will be required for shortlisted taught me some really valuable analytics MODULE 5 24
applicants skills, but more importantly, Ive gained a
suite of soft skills to convincingly present THE PERSONAL EFFECTIVENESS PROGRAM 25
Application dates
data to tell compelling stories that drive WHAT MAKES THE MASTER OF BUSINESS ANALYTICS SO DIFFERENT? 26
To be advised please refer to mbs.edu/mbusa
decision-making and provide a better
understanding of business problems. OUR FACULTY 28

BRAD TREWHELLA SCHOLARSHIPS 32


Master of Business Analytics 2015 and MBS Foundation
Award of Distinction 2015 Analyst, Forethought HOW TO APPLY FOR THE MASTER OF BUSINESS ANALYTICS 33
Research (Melbourne)
CLASS OF 2016 34

CENTRE FOR BUSINESS ANALYTICS 35

Information in this brochure is correct at time of printing July 2016

2 3
WELCOME TO WELCOME TO
ANALYTICS MELBOURNE BUSINESS SCHOOL
Industry surveys show that Melbourne Business School was created by
more than 1,600 jobs will be business in partnership with the University
created in Australia in the field of Melbourne to develop a curriculum that
of business analytics, and an addressed the leadership and management
estimated 1.5 million positions needs of professionals across large and small
worldwide, by 2018. companies, government and non-profits.

In todays world of ever increasing data, businesses that Our roots trace back to the Summer School of Business Today, Melbourne Business School is known
can derive critical insight from such information hold a Administration in 1955. We became home to Australias internationally for our diverse faculty and research
competitive edge. Graduates with the analytics skills to first MBA soon after in 1963. Proud of our Melbourne that is at the forefront of global business trends and
derive those insights will be sought after by Australian heritage, our School community was galvanised in the knowledge. You can find our alumni making a difference
and global employers. 1970s, following Government plans to establish a solitary across a range of industries in more than 90 countries
national graduate management school in Sydney. and we continue to draw on the insight of the business
Melbourne Business School has designed an intensive one After many years of lobbying, in 1982 the Government community to innovate and respond to the changing
year program that will equip you with advanced skills in recognised that for Australia to be competitive in the demands of Australian and international businesses.
business analytics and accelerate your career. global economy, a graduate management school was
needed in Melbourne and asked the community to Underpinning our success has been the unique
We look forward to welcoming you. contribute towards a new building. partnership between business and academia, which
continues to this day. This partnership was strengthened
By 1991, the School community and corporate Australia by our collaboration agreement with the University of
Professor Zeger Degraeve had raised more than $17 million and built our campus Melbourne in 2012, deepening our ties across research,
Dean, Melbourne Business School in Carlton, in the heart of the education precinct and on faculty and programs.
Dean, Faculty of Business and Economics, the edge of the CBD. In 2004, we merged with Mt Eliza
The University of Melbourne Executive Education to offer a world-leading portfolio of Melbourne Business School is a non-profit organisation,
degree and executive education courses. governed by a board of top CEOs and academics. It is 55
Professor of Decision Sciences per cent owned by the business community and 45 per
PhD, University of Chicago Booth School of Business cent by the University of Melbourne.

Experience at:
London Business School
Columbia Business School
Tuck Business School
Harvard Business School

4 5
I already had my MBA from Melbourne Business
School but wanted to study analytics further to MASTER OF
deepen my technical knowledge and make analytics
work in a business context. Having been taught BUSINESS ANALYTICS
by top faculty with a practitioner mindset and
met some of the smartest and most hardworking
The evolution of the digital age has created access to a This program is an advanced degree that focuses on
of my peers in the country, who take their careers
world of data for business and other organisations. quantitative methods and the role of data in decision-
seriously, Melbourne Business School was a natural
The continuous flow of information, generated from the making. You will learn how data can be used to drive
choice to return to for my Master of Business
Internet and mobile devices, means that datasets are decision-making through quantitative analysis, predictive
Analytics.
available for nearly every aspect of business. Interpreting modelling and fact-based management. We bring
and transforming them into insights to support decision- together experts from the fields of computer science,
The most effective analytics leaders marry technical
making requires the skillset and knowledge of an statistics, mathematics and business management to
understanding, commercial acumen and strategic
analytics professional. provide an integrated program.
thinking and thats what Melbourne Business
School teaches. Real-life data science is intensely
The Master of Business Analytics at Melbourne Business
technical but also intensely business focused.
School isnt an ordinary analytics degree. It will provide
Knowing the right talent, technical approaches and
you with the skills and knowledge to become a data
analytics tools to bring to the table is invaluable.
scientist. But you wont just be an expert in maths and
information systems - you will approach analytics with
Data science is a nascent and multidisciplinary
the strategic perspective of the business in mind.
field, where very few experienced professionals have
the requisite skill set, and the Master of Business
Analytics plugged that gap for me.
In this degree, you will learn to define business problems MATHS
by identifying data-based solutions. Business analytics
can help answer:
JASON WIDJAJA What is happening?
Master of Business Analytics 2015 and CUB Scholar Why is this happening?
2015 Senior Manager, Data Science and Analytics, What if these trends continue?
MSD (Singapore) What will happen next?
What should we do?

In just one year of MASTER OF


BUSINESS
full-time study, you ANALYTICS
will be prepared BUSINESS TECHNOLOGY
for the workplace
and your career as BI Developers
Data Analyst
a business analytics
professional.

6 7
2 BRIGHTSTAR USES
We are in the

CASE STUDIES early stages of a


transformation in ANALYTICS TO
how the world does OPTIMISE CATEGORY
Analytics professionals gather and organise data business. More and
more, companies are
SIZES
small or big, structured or unstructured realising the value
for analysis using statistics and modelling, and of business analytics
in enabling and
build maths models through optimisation and
driving organisational
simulation. The following examples show how performance. Its not Mobile product retailers typically display and sell a
organisations use business analytics to gather a question of whether set number of products in categories, such as prepaid
it will happen. Its a handsets, postpaid handsets, tablets or wearables.
insights and make business decisions. Individual products cycle in and out of each category over
matter of when.
time, but the number of slots remains fixed. So, what is
the optimal number of slots to offer per category?

1 HOW ANALYTICS Dr Greg Hill


Head of Business Analytics, Brightstar
HELPED SUNCORP Member, Industry Advisory Board
Centre for Business Analytics
For one of its clients, global wireless-products distributor
Brightstar proposed an objective analytics-based
UNDERSTAND Melbourne Business School approach to find out. It traded off different perspectives
DRIVER BEHAVIOUR from stakeholders across the supply chain, retail,
products and vendor management divisions, using a
framework developed by its analytics team.
To understand the driving behaviour and events that can lead to insurance
claims, Suncorps Motor Insurance department worked with external Brightstar used its supply chain visibility and retail
analytics consultants to gain predictive insights for their current and future operations to construct a model of customer in-store
policyholders. decision-making, which it fused with expert subjective
assessments of customer behaviour and an objective
Over six months, the team looked at existing customer data and purchased financial-profitability model.
information to:
Outline where customers live The integrated model was then subjected to Monte Carlo
Identify where customers could drive in a 5 and 10-minute radius simulation methods to find category sizes that optimise
Investigate the type of roads (back, main, freeway, dead-end) and the profitability against the various commercial constraints,
surrounds (walkways, parks, schools, supermarkets, intersections) within resulting in the client adopting the recommendations.
each radius
Compare the information against existing insurance claims.

Using various technical and statistical models, the findings were applied
to every property within a region for Suncorp to predict insurance claim
frequencies allowing them to predict the number of accidents a customer
could have depending on their location.

The findings became part of Suncorps pricing algorithm for motor insurance,
ensuring that its policies and premiums were set at the right level for where a
customer lives.

8 9
4 REPOSITIONING
KMART
The business problem Emotions were measured and captured, using a quick but
In Australia, Kmart was struggling in the first decade effective method to measure nine key feelings: surprise,
of the new millennium. Profits were meagre and store happiness, love, pride, contentment, anger, sadness,
traffic was stagnant. Furthermore, the brand was anxiety, shame and value. Forethought Research found
indistinct, having no strong position among the several that including these emotions significantly improved the
discount department stores in the market. model for likelihood to choose a store. A key component
of the conceptual model was the linkage between value,
JETSTAR AIRWAYS One of the first steps taken by the new CEO was to quality and price.
3 HOW MODELLING GUIDED THE introduce everyday low pricing and remodel stores.
These changes resulted in some moderate improvement The outcome
BRAND MIGRATION STRATEGY in store visits, but the brand message was still vague in
the mind of consumers.
Measuring emotions enabled Kmarts advertising agency
to create a television commercial that tapped into the
OF A LOW-COST CARRIER specific emotions that most strongly predict store choice.
How data was used to help solve the business problem That is, the model informed the advertising creative
The business problem The model made it possible to understand individual- To address the business problem, Kmart hired brief, something that is notoriously difficult to achieve
Jetstar needed to effectively and profitably compete level variation in the importance of weights for key global Forethought Research to undertake a thorough analysis successfully. The resulting television commercial proved
in the low-cost carrier marketplace. Market research attributes of operational performance and price. Such an of the factors that influence store choice. to be highly effective.
suggested that, despite being lower cost, it was generally analysis is not possible with a simple regression model.
perceived as being uncompetitive in value, service quality Based on the model data, Jetstar could set business It needed a model that: Using an econometric model, it was found that store
and price compared to Virgin Blue. objectives, adapt strategies and review marketing visits were significantly enhanced, over and above
messages. Kmarts usual advertising effects, after the launch of the
Showed consumers likelihood to choose a store,
How data helped solve the business problem new campaign, which promoted two of the key emotions.
incorporating both emotional and rational
Jetstar analysed a conceptual model of consumer choice The outcome evaluations of all stores in the market.
for the airline market at the time. It then developed an The model helped Jetstar create service design and Moreover, compared with store-visit levels before the
online survey and distributed it over 5 quarterly survey pricing initiatives to shift the perceived performance of campaign, total annual visits increased by 20% over the
waves of 1,6002,000 participants per wave, selected to the airline, relative to its competitors. It further indicated Simultaneously accommodated the attributes of next two and a half years, while the number of items sold
demographically represent residents in New South Wales, how the airline could move market preferences toward performance, reputation and price; weighted and increased by 42%. Finally, Earnings Before Interest and
Victoria and Queensland. The analysed data allowed for a areas in which it had competitive advantage. The Jetstar ranked into a hierarchy, according to their relative Taxes (EBIT) increased by 30% (more than $65 million)
summary of the interactive and adaptive modelling and market share went from 14% to 18.1%, during the first importance. in one year. Interestingly, Kmarts main rival had almost
management approach to be created, and parameters five quarterly waves of the research, while profits went no EBIT growth over the same period, despite vigorous
were established for this choice model. from US$79 million in 2006/07, before the study was attempts to create advertising interference to counter
commissioned, to US$124 million in 2008/09. Captured differences between shoppers, including Kmarts highly successful television commercial.
differences that cant be easily observed.

Represented how beliefs, emotions and preference


To read the full case-study visit: bit.ly/JetstarStudy To read the full case-study visit: bit.ly/KmartStudy
change over time.

AUTHORS AUTHORS
John Roberts: Professor of Marketing, Australian National University and London Business School. Ken Roberts: CEO, Forethought Research. Alumnus of Melbourne Business School and a current Master of Business Analytics
Peter Danaher: Professor of Marketing and Econometrics, Monash University. industry partner and program supporter.
Ken Roberts: CEO, Forethought Research. Alumnus of Melbourne Business School and a current Master of Business Analytics John Roberts: Professor of Marketing, Australian National University and London Business School.
industry partner and program supporter. Peter Danaher: Professor of Marketing and Econometrics, Monash University.
Alan Simpson: Principal Analyst, Forethought Research Rohan Raghavan: Research Analyst, Forethought Research.

10 11
WHY BUSINESS PREPARING YOU FOR
ANALYTICS? THE WORKING WORLD
A data analytics talent gap is clearly and processes. Many industries, or optimisation, the analysis of data While the Master of Business Analytics will teach you how to crunch the numbers, we will also teach you the soft skills
evident. McKinsey Global Institute which never considered using data in business helps make informed required to become a well-rounded, employable graduate thats why theres one day a week (Fridays), dedicated to
projects a shortage of 190,000 data in the decision-making process, are decisions across varying business building your personal effectiveness.
scientists by 2018. And according to recognising analytics as a strategic problems in many domains. Thats
Accenture, although the industry has capability. why demand for professionals What are soft skills? The Career Management Centre
been largely centred in the United possessing these skills is increasing. They are similar to the skills you need when seeking The MBS Career Management Centre has a dedicated
States and Western Europe, it is fast The upside of data analytics is that personal development, including self-awareness, Career Consultant for Master of Business Analytics
expanding to the rest of the world. businesses can see the benefits. leadership, communication skills, emotional intelligence students, providing career guidance and professional
It leads to change and improvement and interpersonal relationships. advice, who also coordinates the Personal Effectiveness
Analytics is quickly moving from and the ultimate goal of increased Program.
a background role in business to business growth. Whether its Soft skills are learnt through the Personal Effectiveness
the centre of many key decisions predictive analytics, insight analytics Program, unique to Melbourne Business School, involving
targeted workshops and subjects in the business context
of analytics and the industry practicum subject.

THE EXPECTED GROWTH FOR ANALYTICS


TALENT OVER THE NEXT FIVE YEARS
50%

43%

40%
35% 35% 36%
34%

29% 29% 29%


30%
24% 24% 25%
23%

20%

10% Soft skills are about having the personal Through the Personal Effectiveness Program,
skills to influence, the ability to sell the we prepare you for the job market and facilitate
recommendations drawn from data to key the transition from the classroom into the
0%
executives. Theyre about adding value to the workplace.
& Defence
Aerospace

Transportation

Basic materials

services
& professional
Commercial

Health

Energy

products & retail


Consumer

Telecommunications

Industrials

Automotive

Financial services

media & technology


Communications,

workplace where you are needed to express


and articulate thoughts more clearly. JOHN GURSKEY
Director, Career Management Centre
Melbourne Business School
UJWAL KAYANDE
Director, Centre for Business Analytics
Professor (Marketing)
Melbourne Business School
Source: A.T. Kearney 2015 LEAP (Leadership Excellence in Analytic Practices) talent study

12 13
The industry, in many ways, is crying out for this integrated skillset, and
I would be surprised if the students going through this program have
any challenge landing excellent jobs. Being tri-lingual conversant in
technology, analytics and business is squarely within the cross-hairs of
NIGEL ANDRADE what the industry needs. Data analytics is not just applied in the corporate world.
Partner, A.T. Kearney
Member, Industry Advisory Board In the public and not-for-profit sectors, data scientists are helping
Centre for Business Analytics
Melbourne Business School
to forecast and prevent disease outbreaks, identify threats, catch
criminals, improve roads and optimise aid project funding.

During the next 20 years, as analytics becomes more important, it


is about far more than data big or otherwise. It is about building a
pervasive analytics culture with a clear vision, strong capability, and
C-suite support to leverage data-enabled insights that fundamentally
improve the competitive position of firms in Australia and around the ENRICO RIZZON
world. That is why you should do the Master of Business Analytics Partner, Procurement and Analytics Banks are hiring more risk managers to guide new Insurers increasingly dont just rely on actuaries and
program, because graduates of the program are the people that Solutions Practice, A.T. Kearney
product development in a way that doesnt jeopardise investment modellers, but also on data scientists who
tomorrows organisations are looking for and need today. Chair, Industry Advisory Board
credit ratings. can help the company improve customer acquisition
Centre for Business Analytics
and retention.
Melbourne Business School

The key themes of culture and capability building are very important when
companies consider how to make effective use of business analytics.
Data (big or not) without context are of little use. The challenge for
any enterprise is how to make routine and systematic use of business
analytics by establishing the relevant capabilities, and perhaps even more Companies in the electronics and high-tech industry are
Energy and resources companies used to hire analytics
GRAEME LIEBELT importantly, making their use a part of the way of life, a part of the culture.
Chairman, Amcor Limited teams to study supply and demand to predict commodity eager to find people who can help the entire organisation
prices. Now they rely on them to find new sources of understand emerging customer segments and improve
oil and natural gas, to boost the efficiency of drilling marketing efforts.
programs and to improve such processes as workforce
planning and equipment maintenance.

There are those who assume that if we have enough data the numbers
will speak for themselves. It is not machine led unaccompanied analytics
The greatest number of workers will be in the category of analytics specialists those who take the output of
but rather, humans who will make the essential connections. These latter
analytics models and algorithms, combine that with their specific business knowledge, and generate insights and
day data explorers are bound to become our new cartographers.
decisions.

Forethought Research wishes to congratulate Melbourne Business School KEN ROBERTS


for the outstanding Masters of Business Analytics program and faculty. We CEO, Forethought Research
are confident that many of our newest and best navigators will hail from Member, Industry Advisory Board
Centre for Business Analytics
this program. Our support extends to offering the leading candidate from
Melbourne Business School
each year the Forethought-Roberts Prize.

14 15
THE TYPE OF JOBS THE
MASTER OF BUSINESS ANALYTICS
COULD LEAD TO:
marketing
research

CONSUMER
product mix
analysing fraud
credit risk detection
(which products Asset portfolio Social impact
to stock)

portfolio BANKING & GOODS


retail
preventing
customer
risk and return
strategy
of charity
activities
management
FINANCE customer marketing
churn

financial analytics analytics detecting


risk white-collar
crime

preventing
violent crime
Competitor
GOVERNMENT: uncovering
customs analysis and
Efficient use
of aircraft and
TELECOMMUNICATIONS, SECURITY & POLICE fraud customer
retention As an analytics best customer
service
TECHNOLOGY & INTERNET strategies
professional, you
predicting
demand to enable
capacity planning could be making
public policy recommendations
reduce prison initiatives to
populations reduce welfare
dependence
for:
optimising improve
supply chains healthcare

tracking
outcomes
GOVERNMENT: Pinpointing
supply-chain
LOGISTICS/ Using data to
products
through a
supply chain
SOCIAL SERVICES inefficiencies
to save the detect criminal
PROCUREMENT specialist
business
millions of
activity or fraud

analytics dollars
revenue
advanced
management Predicting which
analytics
techniques job candidates

CONSULTING are likely to be


more effective

supporting
consulting
teams

real-time
monitoring of MINING & evidence-
based social fund raising
machinery to
prevent failures RESOURCES interventions
Analytics professionals usually work closely with information technology professionals. But business analytics is not
predicting
prices
discovery and
exploration NOT-FOR-PROFIT an IT specialisation because analytics professionals generally work in teams with marketers, strategists, operations
managers and financial analysts, and make contributions to some of the most critical strategic questions facing an
optimal organisation.
project mix

16 17
PROGRAM STRUCTURE The PEP sessions really helped me
build on my soft skillset. It was one
of the things that most attracted
The goal of this program is to equip its graduates with the capabilities to apply data-analytic techniques to a variety
me to the Master of Business
of business problems. The knowledge and skills required to do this are multi-disciplinary, drawing on mathematics,
statistics, computer science and business. The program will cover foundational and advanced data-analytic
Analytics program. The sessions
techniques, as well as frameworks for applying those techniques to a variety of business contexts. ranged from workshops with an
acting company to work on voice
The program is intensive. Content is organised into five modules, covering a whole calendar year. Generally speaking, projection and body language, to
mornings are devoted to lectures, workshops and direct instruction. Afternoons are devoted to exercises, team networking and interview etiquette
assignments and tutorials. Every Friday is Personal Effectiveness Day, when the Personal Effectiveness Program (PEP) training all of which were very
helps you develop your soft skills.
useful at the many industry events
Here is an example of a typical week: held by the School.

MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY REBECCA WILSON


Master of Business Analytics 2015 and
Forethought-Roberts Prize 2015 and MBS
9 am10.15 am Stats Learning Data Warehousing Programming Optimisation
Foundation Award of Distinction 2015
Analytics Analyst, A.T. Kearney (Melbourne)
Personal
10.45 amNoon Stats Learning Data Warehousing Programming Optimisation Effectiveness

Noon2.30 pm Lunch Break Lunch Break Lunch Break Lunch Break

The structure of the morning lectures and afternoon workshops meant that you could
take advantage of the afternoon sessions to absorb and reinforce the prior content.
Stats Learning Data Warehousing Programming Optimisation Personal
2.30 pm5.30 pm
exercises exercises exercises exercises Effectiveness
JENNY LIU
Master of Business Analytics 2015, Woolworths Scholar 2015 and MBS Foundation Award of Distinction 2015
Senior Analyst, Woolworths Limited (Sydney)

PROGRAM TIMELINE
FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

PROJECT PRESENTATION WEEK


ORIENTATION BUSINESS ANALYTICS ADVANCED BUSINESS
INDUSTRY PRACTICUM BUSINESS ANALYTICS APPLICATIONS
FOUNDATIONS ANALYTICS
Break (2 Weeks)

Break (2 Weeks)

Break (2 Weeks)
REVISION WEEK

REVISION WEEK

REVISION WEEK
Break (1 Week)

EXAM WEEK

EXAM WEEK

EXAM WEEK
INTRODUCTION TO
BUSINESS PROBLEMS Computing and Programming; Machine Learning; Finance Analytics;
Data Warehousing; Data Visualisation; Team project Marketing Analytics;
Statistical Learning; Predictive Analytics; working with real data Supply Chain Analytics;
Case Study Decision Making and Optimisation; Text and Web Analytics; Capstone subject Business Case Study & Applications;
& Working Personal Effectiveness 1 Personal Effectiveness 2 Personal Effectiveness 3
in Teams

Module 1 is a six-week module that incorporates orientation activities. Modules 2, 3 and 5 are each nine-week modules, in which the first seven weeks contain new content.
Module 4 is also a six-week module (five weeks working with an organisation and one week for presentations). The eighth week is for revising material and the ninth week for exams. Breaks of one/two weeks take place between modules.

18 19
MODULE 1 MODULE 2
Introduction to Business Problems During the module, students will also attend Foundations of Business Analytics Decision Making and Optimisation
This subject is the introduction to the Master sessions on foundational concepts in maths, This subject equips students with There are an assortment of
of Business Analytics. It focuses on two issues: statistics, programming and SAS to ensure that all the foundations and tools needed for mathematical methods to obtain
(i) introduce business problems, best addressed background material required for Module 2 has a career in Business Analytics. efficient solutions to a large variety
with analytics, and their complexities, and (ii) the been reviewed. of complex business problems.
complexities of possible solutions. A broad survey Computing and Programming This component helps students
of business frameworks and perspectives are Students will be presented with a dataset and a Solving problems in business often formulate a business problem as
covered in this module to help set the context for case study of an organisation, facing a significant requires computer programming to a mathematical model and then
the business problems encountered. Team processes business problem. Students will be asked to prepare manipulate, analyse, and visualise use computational techniques to
will be examined, and project management tools possible solutions to the problem, which will be data. This component helps students, estimate and solve the model. Topics
provided, to implement the proposed solutions. revisited in the Business Analytics Applications with little or no background in covered could include decision-
subject at the end of their program of study. computer programming, learn how making under uncertainty, optimal
to design and write programs using location/allocation of resources in
a high-level procedural programming business processes, decision trees,
language, and to solve problems linear programming, integer linear
using these skills. Topics such as programming, and Monte Carlo
cyber security, cyber ethics and simulations.
privacy, regarding the collection
of individual data, will also be
discussed. Statistical Learning
With the explosion of available
data, statistical learning, which is
Data Warehousing the analysis of complex datasets,
Data warehouses are designed has become an important field in
to provide organisations with an many business contexts, including
integrated set of high-quality data marketing, finance, and even human
to support decision-makers. They resource management. The aim of
should support flexible and multi- this component, and the follow-on
dimensional retrieval and analysis component in Advanced Business
of data. Topics covered include Analytics, is to help students learn
data warehousing and decision- how to extract relevant information
making; data warehouse design; from large amounts of complex
data warehouse implementation; data to make improved business
data sourcing and quality; online decisions. Topics covered in this
analytical processing (OLAP); component include data exploration;
dashboards; data warehousing for resampling methods; linear and
customer relationship management; nonlinear regression; parametric
and case studies of data classification techniques; and model
warehousing practice. selection.

20 21
MODULE 3 MODULE 4
Advanced Business Analytics Predictive Analytics Industry Practicum In 2015 & 2016, students worked with:
This subject equips students with the advanced models, Predicting key business and economic variables is This subject involves practical experience for teams
AT Kearney CHE Proximity Telstra
methods and tools required for a deep understanding of increasingly important as it drives both objective of students working on a real analytics project for an
Woolworths KPMG SEEK
the latest analytic techniques. decision-making and improved profitability. organisation. The five-week project integrates academic CUB Quantium Suncorp
This component aims to cover the main methods used learning, practical challenges in implementing data ANZ Deloitte Coles Flybuys
to predict business and economic variables, based analytics in an organisation, employability skills and Brightstar Sportsbet Converge
Machine Learning on historical data. These methods include traditional attributes, and an improved knowledge of organisations, Forethought NAB Dun &
BP Veda Bradstreet
This component builds on the material in Module regression, time series, multivariate and econometric workplace culture and career pathways.
2s Statistical Learning and covers advanced analytic models, as well as emerging methods such as ensemble
methods. It extends the statistical-learning component forecasts. Both point and density prediction will be The assessment week will involve the completion of a
of Module 2 (Foundations of Business Analytics) in three considered, along with metrics for the quality of both. report for the subject and a project presentation.
2015 Industry Practicum snapshot: Telstra
ways. First, new techniques, such as tree-based methods Throughout, the focus will be on introducing methods
For their five-week industry practicum, James Dale,
and neural networks, are introduced. Second, students in the context of substantive business and economic
What type of topics could be covered? Laura Li and Vyas Venugopalan from the 2015
are introduced to unsupervised statistical-learning problems using a wide range of prediction methods.
Master of Business Analytics class helped Telstra
techniques, and third, students learn how to combine The importance of benchmarking different
clarify how to increase sales of new value-added
models and techniques to produce ensembles with methodologies, and the use of prediction in decision-
products. At the time of their placement, Telstras
better predictive capabilities. making frameworks, is also stressed. Data analysis on datasets, investigating issues such as:
sales agents and call centre were reactively
targeting customers to sell products.
Data Visualisation Text and Web Analytics Customer churn/loyalty
Working with Telstras customer analytics team
Data visualisation reveals the underlying structure of This component helps students develop an Logistics and supply chain and product stakeholders, the students wrote SQL
datasets, using representations that utilise the human understanding of the key algorithms used in natural-
Forecasting demand to extract and profile user data to identify features
visual-perceptual system. The topics covered include language processing and text retrieval for use in a diverse
that would improve customer targeting. They
the algorithms and systems for visually exploring, range of applications, including search engines, cross- Optimal product or category portfolio
then helped build an operational predictive model,
understanding and analysing large, complex datasets. language information retrieval, machine translation,
Marketing-mix optimisation scoring and ranking customer propensity to buy a
This includes the visualisation of multivariate, temporal, text mining, question answering, summarisation,
value-added product, based on those features.
text-based, geospatial, hierarchical, network and graph- and grammar correction. Topics to be covered include Credit risk
based data. text normalisation; sentence boundary detection;
Employee selection, retention and training The project generated deep insights by profiling
part-of-speech tagging; n-gram language modelling;
Analysis of social media or other unstructured data the existing customer base according to
sentiment analysis; web mining and analysis; network
sources demographics, product holdings, purchase
analysis (including social network analysis); and text
preferences, channel preference and service
classification.
interaction history. It also gave James, Laura and
Optimisation of processes, such as: Vyas a valuable real-world experience.

Call centre operations


Logistics and delivery routes
Schedules
James Dale, Laura Li
Allocation of marketing resources across products and Vyas Venugopalan
Service delivery of the 2015 Master
of Business Analytics
class at Telstra

22 23
Topics could include

MODULE 5 THE PERSONAL


Business Analytics Applications Supply Chain Analytics
EFFECTIVENESS PROGRAM Big data
Decision-
making Privacy law
ethics
This subjects primary focus is the application of data Rapid advancements in technology (particularly the biases
Analytics professionals with a strong blend of soft and
analytics in business contexts. Three of the subjects Internet), combined with fast and cheap computing
technical skills are in demand. At the conclusion of the
components address common applications of business power, has enabled firms to radically transform
Personal Effectiveness Program (PEP), you will have
analytics: Finance Analytics, Marketing Analytics, their industries by developing business models and
a well-rounded understanding of the link between
and Supply Chain Analytics. The business case study, re-engineering their supply chains. This Module 5
analytics, business and decision-making. The ability to Analytics in
introduced in the Introduction to Business Analytics component provides students with (i) knowledge of
communicate findings to guide decision-making is just web-based Credit risk Accounting
subject, is revisited so students can view and find mathematical modelling and analytic tools, relating to
as important as data manipulation for the analytics companies
solutions to the same comprehensive business case logistics and supply chain optimisation problems,
professional because executives can make the wrong
with the benefit of the knowledge they have obtained (ii) the ability to use these tools and techniques to
decision if good data is communicated to them poorly.
from the program. Students are also introduced to other analyse strategic, tactical and operational decisions,
contemporary applications of business analytics. pertaining to inventory management, facility location,
The PEP runs across the program. It identifies specific
logistics and other supply chain, management-related
needs of each individual student and provides ongoing Supply Human
decisions, and (iii) exposure to real world logistics and Finance
support, training and opportunities to practise and chains resources
Finance Analytics supply chain decisions through case studies.
perfect these skills. The program focuses on four core
Quantitative analytics have become an invaluable part of
areas:
managing financial institutions, not only for profitability
but also for safeguarding the organisation against risk. Business Case Study
In this component, students will be applying data- This component revisits the case study examined in the Seminars and workshops delivered through PEP could
Communication skills including effective include:
analytic skills to finance applications. Topics include subject Introduction to Business Problems earlier in the
presentations, oral communication, written
financial performance benchmarking; modelling and program. The primary goal of this component is to use
communication, public speaking and Managing your career
computation of financial risks; dynamic portfolio the analytics knowledge and skills obtained throughout
communicating technical material to non- How to find and use a mentor
management; computational derivative pricing; and the program to recalibrate solutions to the business
technical audiences Managing your next career transition
modelling fixed income securities. The focus of the problem in the case study. The secondary goal is to
component will be on both theoretical development and introduce students to some emerging applications in the Technical writing for a non-technical audience
practical implementation, using contemporary data from form of a special-topics component. These topics will Difficult conversations and managing up
Career development skills including case practice, Storytelling with data
the financial market. vary, depending on emerging trends.
interview skills, CV writing, networking, and Presentation skills
business etiquette Networking skills
Marketing Analytics Behavioural interviewing
It has become increasingly important to know how Case interview techniques
Team skills including managing conflict, cultural Leading a team
marketing actions translate into revenue and profit
awareness, giving and receiving feedback, and Project management
growth. The tools that enable this translation are part
resilience Using LinkedIn for your job search.
of the toolkit called marketing analytics. Marketing
analytics is a technology-enabled and model-supported
approach to harness customer and market data and The final important element of the PEP is one-on-one
Business knowledge including understanding feedback and coaching. Students engage in teamwork
enhance marketing decision-making. This component
the business and industry context in which throughout the program and receive feedback at various
of Module 5 provides students with (i) knowledge
analytics professionals operate, how different points about their interactions. Through coaching by
of marketing analytics, (ii) the ability to know which
parts of organisations interact, and meeting and program staff, students learn to understand this feedback
analytics tools to use for which marketing problems,
networking with business leaders. and make changes in their approach that enhance their
(iii) the ability to use those tools to solve marketing
problems, and (iv) the ability to influence marketing ability to lead and work in teams.
outcomes such as satisfaction, choice, loyalty, word of
Academic experts and business leaders are invited to
mouth, and customer referrals.
speak to the class about a range of subjects to increase
knowledge and understanding of business environments.
24 25
WHAT MAKES THE MASTER OF
BUSINESS ANALYTICS SO DIFFERENT?

A core element of the program, which


had tremendous value for me, was
the practicum. I worked on a real
ONE-YEAR PROGRAM SAS CERTIFICATION project at NAB, helping the bank
solve a challenging problem and
The Master of Business Analytics is offered at Melbourne On completion of the one-year program, graduating
expanding my business network. The
Business School as an intensive program, allowing you students will receive a Master of Business Analytics
experience proved critical in securing
to complete a 1.5-year degree in just one year of full- degree from the University of Melbourne along with
my analytics job at NAB.
time study. Classes are taught Monday to Friday, 9am a SAS Certificate in Business Analytics. This globally
to 5.30pm. It differs from undergraduate study, with recognised certification identifies professionals who
ANJANA KRISHNADAS
students on campus each weekday for the full day, are both skilled data analysts and have a fully rounded
Master of Business Analytics 2015
smaller classes and greater access to teaching faculty, business focus on analytics for problem-solving and
Senior Analyst - Campaign Analytics,
meaning stronger relationships are formed. decision-making.
NAB (Melbourne)

CONNECTION INTERDISCIPLINARY Analytics is a combination of art


WITH INDUSTRY CONTENT and science. A lot of schools focus
on one or the other, but Melbourne
The Master of Business Analytics program gives you the This program is interdisciplinary, incorporating maths Business School gets the combination
business acumen to unpack complex data and present and statistics, computer science and business. Many just right. You get the technical skills
insights to senior executives to drive business value, analytics degrees choose one of these areas as their required in analytics and the business
while developing your technical skills to analyse and primary focus with only minimal attention paid to skills needed to solve business
interpret complex data. the other two. This degree is quantitatively rigorous, problems.
requiring you to become comfortable with programming
Overseen by the Centre of Business Analytics and while maintaining a focus on the business context of DAVID LOONG
its Industry Advisory Board, this unique program is analytics work. This context is important because the Master of Business Analytics 2015,
distinguished by its strong focus on solving business purpose of business analytics is to ensure that the A.T. Kearney Scholar 2015, Forethought-
problems, which are tackled throughout the one-year analysis of data is practical and applicable in a business Roberts Prize 2015 and MBS Foundation
degree but most intensively in the five-week industry environment. Award of Distinction 2015 Analytics
practicum, where you work within an organisation to Analyst, A.T. Kearney (Melbourne)
help solve pressing business challenges.

26 27
OUR Graemes research focuses on the management of business analytics
systems, data quality and the design of data warehouses and uses

FACULTY focus groups, case studies and surveys. His recent work, supported
by an Australian Research Council discovery grant, concerns how
business analytics systems create value for organisations.

Our faculty experts will help you approach problems in new ways and The outcomes of his work have been published in more than 200
master the tools required to solve them. refereed conference and journal papers. Graeme is a senior editor of
the Journal of Information Technology and a member of the editorial
boards of several other journals.
Faculty from the Department of Computing and Information Systems in the School of Engineering at the University
of Melbourne will equip you with computing and data management skills. Melbourne Business School Faculty will
He has extensive experience in academia, consulting and researching
provide a blend of statistical, mathematical and decision-making tools. Together, we deliver an integrated program
with major private and government partners.
that will provide you with the skills to not only analyse the data but also use that information to formulate strategy.
GRAEME SHANKS
We teach using a variety of techniques, including case studies, simulations and practical projects. These techniques Professorial Fellow (Computing and Information Systems)
allow you to work in a team, tackle real data, think critically and articulate your findings. PhD, MAppSci (Information Systems), Dip Ed and BSc (Monash)

The Chair of Management (Econometrics) at our School since 2007 Karin moved to Melbourne from the University of Colorado School of
and an Australian Future Fellow between 2012 and 2016, Michael has Medicine in 2011 to join the NICTA Victoria Research Laboratory.
held many visiting positions, including at the Wharton School and She then became an Associate Professor at the University of
London Business School. Melbourne and later Deputy Director of the Universitys Health and
Biomedical Informatics Centre.
He has developed models for online retail sales, mobile phone
coupon redemptions, advertising effectiveness and contemporary risk Karin has a background in computational linguistics, building
management and has a deep interest in statistical forecasting in the software that tries to understand the meaning conveyed by text.
energy sector, including modelling and forecasting electricity demand Much of her work focuses on extracting information from text at
and spot prices. scale to support predictive methods.

Known for his early research work on Bayesian semiparametric Her current research focuses on building tools to support biological
smoothing and model averaging in cross-sectional, spatial and discovery and clinical decision support, including the use of the
time-series contexts, his recent work involves analysing multivariate biomedical literature to improve biomedical data analysis. Karins
data, using copula models, and applying these methods to important project work includes extracting concepts and events from biomedical
business problems. text and building linguistic resources to support biomedical text
mining.
MICHAEL SMITH
Chair and Australian Future Fellow in Econometrics KARIN VERSPOOR
Honorary Professor of Business Analytics (University of Sydney) Associate Professor (Computing and Information Systems)
PhD (UNSW), BA Hons (UWA) PhD and MSc (University of Edinburgh), BA (Rice University)

28 29
Gerardo has a PhD in Operations Research and consulted at ExPretio Ujwal became fascinated with analytics as a brand manager more
Technologies, designing and developing pricing-optimisation models than 25 years ago, when the norm was to use gut feeling to forecast
for rail and aviation companies. He won a prize for best Canadian monthly brand sales. His simple time-series models proved far more
applied maths thesis in 2010 and joined Melbourne Business School accurate and led to forecasting models that became his organisations
in 2012. gold standard.

His recently published joint paper on the benefits of social influence Getting people to become evidence-based decision makers rather
in optimised cultural markets provides new insights into best sellers than decision-based evidence makers has been his passion ever since
and challenges the conventional wisdom that social influence creates and led him to establish our Schools Centre for Business Analytics.
unpredictability.
He has been teaching Marketing Analytics since 1998 (well before
For the paper, his team developed algorithms to strategically position it was in the hot-zone), won the Smeal MBA Teaching Excellence
items to maximise revenue and a quantitative model to explain how Award at Penn State University and taught at the Wharton School,
socially influenced consumers make choices. They also designed a Mannheim Business School and other leading business schools.
new Performance Ranking policy that accounts for social influence, His research has won many awards, including from the European
product appeal and position bias and outperforms all other ranking Marketing Academy in 2015.
policies that dont display social influence.
UJWAL KAYANDE
GERARDO BERBEGLIA Director of the Centre for Business Analytics
Assistant Professor (Operations Management) Professor (Marketing)
PhD (HEC Montreal), PhD (Alberta)
MSc and BSc (Universidad de Buenos Aires)

Economics has fascinated Ole since high school. As an undergraduate, Having studied Commerce as an undergraduate, Andrew pursued
she questioned the different economic schools of thought and an actuarial career before deciding to study his PhD in Computer
realised that analysing real-world data was the key to finding the best Science. After gaining his PhD, he moved to the U.S. for two years,
answers. living in Portland, Oregon, where he taught Computer Networks to
medical students and worked as a researcher in the ophthalmology
Ole researches how to apply time-series modelling to financial department of a private hospital.
data and develops models that can capture extreme movements
Currently a University of Melbourne researcher and teacher, Andrews
in financial-asset prices and generate predictions that aid effective
research interests include computational problems in human
risk-management practices. The work requires developing statistical
vision, in particular, developing new techniques for diagnosing and
methodology for estimating complex models with multiple latent
monitoring glaucoma. He also researches new algorithms for text
factors.
compression and string searching, and methods for evaluating search
engines. As its Deputy Head, Andrew oversees the Department of
Her specialty is Bayesian methodologies, which are useful for
Computing and Information Systems engagement with industry,
estimating complex models and a natural tool for producing
government and the community.
predictive distributions. Their versatility and empirically driven nature
make them popular for analysing all types of data and give Master of Andrew has been awarded both an ARC QEII Fellowship and an
Business Analytics students valuable workplace skills. ARC Future Fellowship, with his research ideas being adopted in
the software underlying Google and several eye-testing machines
WORAPREE (OLE) MANEESOONTHORN worldwide.
Assistant Professor (Statistics and Econometrics)
PhD and MApp.Ec (Monash), BCom and BA (Canterbury) ANDREW TURPIN
Associate Professor
Deputy Head (Engagement), Department of Computing and Information Systems
PhD, BSci (Hons), BComm (University of Melbourne)
30 31
SCHOLARSHIPS HOW TO APPLY FOR
Each year, a number of scholarships are offered for the Master of Business Analytics program. All applications received
THE MASTER OF
by the application closing dates are considered (no additional application required). Additional interviews may be
requested to determine scholarships winners.
BUSINESS ANALYTICS

The Forethought-Roberts Prize The application process is fully online at mbs.edu/apply


Ken Roberts, Chief Executive Officer of Forethought Research, is proud to award the Forethought-Roberts Prize
to the top student in the Master of Business Analytics program. Document Entry
requirements requirements
The $5,000 prize and medal is awarded at the end of each year and recognises the outstanding skills and
achievements of one student.
You will need the following To be eligible for a place on the program, you will have:
supporting documents, ready to
upload: 1. Undergraduate degree from a recognised institution with a 65% GPA or
above.
Resum
Academic transcripts 2. Demonstrated academic success at third year university level in one of
(undergraduate transcript is the following disciplines:
mandatory if you havent Mathematics or Statistics Physics
completed your undergraduate Computer Science Finance or Economics
degree, please provide results for Information Systems Science
as much as you have completed at Engineering Actuarial Science
the time of your application)
Passport/birth certificate/visa Ideally, you have completed a sequence of two or three undergraduate or
graduate statistics courses that include probability theory and regression
Once your application has been analysis, but demonstrated mathematical preparation and quantitative
submitted, shortlisted applicants will aptitude may suffice.
be asked to schedule an interview.
3. A natural talent and passion for working with data

I was given great feedback about the program by previous Working as an IT consultant, I was looking to specialise in
4. International students must demonstrate proficiency in English:
students, which got me interested in Melbourne Business a quantitative degree that combines the skills Ive learnt
a. IELTS minimum score requirement of 7.0 overall, with no individual
School. As an experienced professional, I had to consider from my undergrad studies and work experience. My
score less than 6.5; or
the cost of taking time off, but receiving the A.T. Kearney scholarship helped confirm my decision to steer my career
b. TOEFL IBT written score minimum of 24 and no band less than 21.
Scholarship made my decision to study at such a renowned in the direction of analytics and that others saw me as a
business school easy. good fit for this industry.
5. Interviews will be required for shortlisted applicants.

JAPVEER ARORA LAWRENCE LIFSON


A.T. Kearney Scholar BP Scholar
Master of Business Analytics 2016 Master of Business Analytics 2016

32 33
CLASS OF 2016 CENTRE FOR
BUSINESS
ANALYTICS
62 24 The Master of Business Analytics is not a standalone
program, its very deeply embedded in the research
Industry Advisory Board
Central to the Centres mission of thought-leadership is
Class size Median efforts of the Faculty through the Centre for Business engagement with the broader community of analytics
age Analytics. practitioners and world-class academics. The Industry
Advisory Board brings diversity and depth of experience
Our multi-disciplinary centre investigates how data can to developing and guiding the Centres strategy.
drive organisational success. The Centre engages with
industry through collaborative workshops, knowledge Acknowledged as leaders in driving the use and influence
dissemination and the Master of Business Analytics of business analytics in industry and government,
program, developing the next generation of Business Industry Advisory Board members are currently in the
Analytics professionals who are critical to the future of following organisations:
business.

49% 51%
50% had work experience
Male Female Median work experience is 2.5 years

Undergraduate Backgrounds

Business/Economic/Finance 41%
Engineering 21%
Statistics/Maths/Actuarial 19%
Computer Science/Technology 13%
Science 6%

34 35
CAMPUS LOCATIONS:

CARLTON PARKVILLE
200 Leicester Street Level 4, 198 Berkeley Street
Carlton VIC 3053 Parkville VIC 3010
Australia Australia
T: +61 3 9349 8400 T: +61 3 8344 1670
mbs.edu

ABN 80 007 268 233 CRICOS 084058J

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