Considering a Career in Data Analytics?
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Contents
01
Introduction
02
What Is Big Data?
03
Infinite Applications
04
The Job Market: Hot Prospects
07
The Importance of Cross-Disciplinary Competence
08
Clarkson’s MS in Data Analytics
Data really powers everything that we do. – Jeff Weiner, CEO, LinkedIn
Introduction Data is everywhere and ever-growing. IBM notes that we generate so much data—2.5 quintillion bytes per day1—that 90 percent of the world’s data was created in the last two years. Business software intelligence firm Domo breaks it down further, reporting that “Mobile connections alone generate more than 18 million megabytes of data every minute— and that’s just in the U.S.”2 What does this data tell us? Equally important, how can we use it to improve decision-making and shape the future? That’s why data scientists and analysts are in such demand. Their ability to identify, extract, and interpret valuable information drives progress and innovation in virtually every industry, every day.
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What is Big Data? The term “big data” is often used to describe enormous quantities of information. But that’s only half the story. “Big data is not just large amounts of data. It’s masses of data that is not structured. And because it’s not neatly structured, many organizations simply don’t know what to do with it,” explains Nenad Jukic, PhD, Professor of Information Systems at Loyola University Chicago. For decades, organizations have relied on spreadsheets and similar vehicles to organize and present information. Although these tools remain essential, they no longer are enough. Much of today’s data doesn’t fit neatly into rows and columns. It comes from people (emails, social media, internet searches, etc.), from sensors (machines), and from organizations. The challenge is to integrate this data and convert it to knowledge. “There’s not a single industry that’s not collecting data in hopes of using it for decision-making,” says Boris Jukic, PhD, Professor of Operations and Information Systems at Clarkson University and Co-Director of the University’s Data Analytics Program. He and his brother, Dr. Nenad Jukic, frequently collaborate on research related to information management. Both agree that data collection efforts will only intensify. That, in turn, will fuel the need for data analysts, caretakers, and other information management-related professionals. Clarkson University | 02
Infinite Applications To appreciate the potential impact of big data, consider some real-world applications: Retail giant Wal-Mart is widely regarded as a pioneer in tapping big data to enhance the customer experience. The company uses real-time data analysis to optimize supply chain management. Wal-Mart also mines social data to identify local trends and customize inventory and assortment to anticipate and address customer preferences. In aviation, Pratt & Whitney’s Geared Turbo Fan (GTF) engine is outfitted with 5,000 sensors that generate up to 10 GB of data per second. Artificial intelligence systems use that data to predict engine demands and performance and adjust thrust levels. The result of these adjustments: better fuel economy, less engine noise, and fewer emissions. Healthcare is often cited as the field that could benefit the most from harnessing big data. From fraud detection to patient monitoring and disease prevention, big data has the potential to transform healthcare operations, care delivery, and patient outcomes. • The Centers for Medicare & Medicaid Services (CMS) relies on big data and predictive analytic technology to detect fraudulent payment requests from providers. Since 2011, the CMS Fraud Prevention System has saved more than $1.5 billion. • Beth Israel Deaconess Medical Center in Boston turned to data analytics to help predict which intensive care patients were at risk of developing infections, blood clots, and other complications. • Other hospitals and health systems are using data analytics to predict and prevent hospital admissions and readmissions. These examples are the tip of the iceberg. “Every industry has opportunities to push the envelope in this field—to manage data, gain better insights, and extract value,” Dr. Boris Jukic says.
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Among the Hottest Jobs In October 2012, a Harvard Business Review headline proclaimed data scientist “the sexiest job of the 21st century.” More recently, in 2016 and 2017, data scientist ranked at the top of Glassdoor’s list of 50 best jobs. Three-other data-related positions—data engineer, analytics manager, and database administrator—earned a place in Glassdoor’s top 10 for 2017. “There has never been a better time to get into the field of data analytics,” Dr. Nenad Jukic says. “If you earn a master’s degree in data analytics, you’ll have no trouble finding a job. The dilemma will be deciding which job to take and what types of projects most interest you.”
...In 2016 and 2017, data scientist ranked at the top of Glassdoor’s list of 50 best jobs. Clarkson University | 04
Data analytics programs attract students and professionals with the broadest range of interests—from education and the arts to healthcare, finance, agriculture, energy, real estate, retail, and more. Despite their differences, these students tend to have some common traits: • They are comfortable with math. • They favor evidence-based decision-making over gut instinct. • They take great satisfaction in solving problems. Carrie Rider is a case in point. After earning a bachelor’s degree with a double-major in math and statistics and social sciences, she decided to pursue a master’s in data analytics. A career fair in fall 2015 led to an interview and job offer. Rider completed her degree in May 2016 secure in the knowledge that, one month after graduation, she would join the Rome, N.Y., office of Booz Allen Hamilton (BAH) as a data scientist. A global company, Booz Allen helps clients solve the most difficult management and technology problems through a combination of consulting, analytics, digital solutions, engineering, and cyber expertise. Rider is part of a research and development team involved in creating customized software for a government project. Her role is to extract unstructured data and convert the extracted information so it can be analyzed and used by other applications. “I like to solve puzzles, so I prefer the ETL (extract, transform, load) aspect of data science,” she says. “I know where we want to end up. My job is to figure out how to get there—how to set up the databases so the actual discovery can begin.” Clarkson University | 05
“My Clarkson degree definitely prepared me and helped open the door to opportunities. My employer is familiar with Clarkson’s reputation and taps a lot of Clarkson talent.” — Carrie Rider ’16, MS in Data Analytics, Clarkson University Data Scientist, Booz Allen Hamilton
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The Importance of CrossDisciplinary Competence To help meet the growing demand for data professionals, colleges and universities nationwide are introducing data-related degree programs. Because these are still relatively new offerings, the names of the degree programs can vary from institution to institution. Some emphasize business analytics and decision-making. Others focus more on information systems and technology. What should you look for in a data analytics degree program? According to Dr. Boris Jukic, the best programs “break down the barriers between the traditional departments. To be a true data professional, one must possess a certain level of competence in each of the key disciplines.� He recommends programs that integrate knowledge discovery, ranging from traditional statistical methods to various data mining techniques with machine learning, data design and management, as well as necessary programming and math skills. With a solid foundation in the essentials, students have the flexibility to pursue what they find most interesting and provide value to virtually any organization.
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Clarkson’s MS in Data Analytics Clarkson University’s Master of Science in Data Analytics blends business, mathematics, and computer science to prepare students for data-related careers in virtually every sector. The 36-credit program equips graduates to turn big data into smart data and unleash the extraordinary potential of new knowledge. Students can pursue the master’s degree online or on-site. To request more information, click here.
IBM, “What Is Big Data?” November 2016
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Domo, “Data Never Sleeps 4.0,”Josh James, Founder, CEO & Chairman of the Board; https://www.domo.com/blog/datanever-sleeps-4-0/June 2016 2
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