BUSINESS ANALYTICS Understanding the world through data
monash.edu/business
WHY STUDY BUSINESS ANALYTICS? Discover how organisations turn data into usable insights, learn how to make reliable predictions and guide businesses in the best direction. WHAT IS BUSINESS ANALYTICS? The goal of Business Analytics is to extract usable information from data. Business Analytics drives innovation, transformation and competitive advantage in business, industry and government. In today’s data-rich environment, the ability to analyse data proficiently is an essential life skill, on par with numeracy and literacy. That is why Monash Business School offers units in Business Analytics across all programs as well as a dedicated Business Analytics major in our Bachelor of Commerce degree and a Business Analytics and Statistics major in our Bachelor of Business. This area of study will teach you how to pull data from various sources – whether that is your music, a web page, financial markets information, open data websites, maps, apps or emails – and visualise and model it to learn about the world around you.
BUSINESS ANALYTICS
Today’s business environment provides analysts with the opportunity to manage a project from start to finish: to collect data, understand it, model it and write reports. This major teaches the full pipeline of data analysis. The skills will empower you to be a quantitative citizen who uses data to make decisions for yourself and others. As a business analytics student you will also learn about structure in data in the context of randomness, uncertainty and variation and how to harness these technologies to validate your conclusions and assess their robustness to future scenarios.
WHERE WILL BUSINESS ANALYTICS TAKE YOU? Business analytics is a fast-growing field and the skills you will learn in Business Analytics are useful in many of the new jobs of the future. Use your skills to: > Analyse the data you collect for your own start-up > Work in the analytics team of a major company > Shape government policy using data, or study public opinion and the effect of policy on individuals > Work in media, developing statistical models and visualisations > Work in the criminal or international justice systems and build statistical evidence > Analyse website, advertising and social media data > Become a teacher, academic or researcher and educate the next generation of business analysts
> Be a sports analyst, improve performance and teamwork and reduce injuries > Work as an aid worker in Australia or abroad and use open data and software to reduce poverty Gain employment in business, industry and government, and work across: > Education > Fashion > Finance > Human Resources > Law > Marketing > Media > Software > Sport > Start-ups > Tourism Work with a range of other professionals in: > Business Statistics > Business Intelligence > Commerce > Data Warehousing > Econometrics > Finance > Information Technology > Market Research
WHY STUDY BUSINESS ANALYTICS AT MONASH BUSINESS SCHOOL? As the largest business school in Australia and a member of the Group of Eight, our students gain access to worldleading econometrics and business statistics academics. In fact, many of the methods and software developed by our business analytics researchers are widely used in businesses and government departments today. The core and elective units in our Bachelor of Commerce majoring in Business Analytics provide hands-on and rigorous data science experiences. You can also study theory and applied statistics units. Monash Business School ranked 35 in the world for Econometrics in the 2020 QS Subject Rankings, and achieved five stars (well above world standard) in Statistics in the Excellence in Research for Australia (ERA) Report
“Studying Business Analytics has given me a way to speak my language. During my Honours research I have had the chance to be involved in using face recognition algorithms on video data to explore impartiality during court proceedings. I’ve found learning about the practical application of data theory has been incredibly useful to me as I can see this will give me a real point of difference. After I graduate I would like to move into academia and dig more deeply into how data algorithms and mechanics are being developed and the ways they can be used to help businesses. This degree has really helped prepare me for further academic study.” HUIZE (SHERRY) ZHANG Business Analytics Honours
HOW TO STUDY BUSINESS ANALYTICS?
Double degrees with Monash Business School
At Monash Business School, you can study to become a business analyst with a comprehensive Bachelor of Commerce degree majoring in Business Analytics or a Bachelor of Business majoring in Business Analytics and Statistics.
A double degree with Monash Business School offers you a depth of knowledge by allowing you to study two disciplines from within the Business School. Combine a Bachelor of Commerce majoring in Business Analytics with a Bachelor of Actuarial Science, Bachelor of Economics or a Bachelor of Finance. Or, combine a Bachelor of Business majoring in Business Analytics and Statistics with a Bachelor of Accounting, Bachelor of Banking and Finance, Bachelor of Marketing or a Bachelor of International Business.
Bachelor of Business – Business Analytics and Statistics major Caulfield campus A Bachelor of Business will give you broad business skills. It covers accounting, marketing, business law, management, economics, business statistics and finance. Learn what makes markets, brands and organisations function effectively. Choose a Business Analytics and Statistics major to develop skills to understand domestic and global data, including big data. You will learn to use data analytics, computing and statistical tools.
Bachelor of Commerce – Business Analytics major Clayton campus A Bachelor of Commerce will give you analytical and conceptual skills. It covers commercial leadership, innovation and policy development. Learn to think conceptually, use data, solve problems and make informed decisions. Choose a Business Analytics major to develop mathematical, statistical and computing skills and learn to analyse complex data in a commercial context. You’ll learn about the structure of data, including randomness, uncertainty and variation, how to harness technologies, validate conclusions, and assess future scenarios.
Double degrees with other faculties A double degree with another faculty offers you a breadth of knowledge, as you study across disciplines and explore two interests. Combine a Bachelor of Commerce majoring in Business Analytics with a Bachelor of Arts, Biomedical Science, Computer Science, Computer Science in Data Science, Global Studies, Information Technology, Music, or Science. A Bachelor of Commerce majoring in Business Analytics can also be combined with a Bachelor of Education (Honours) or Engineering (Chemical, Civil, Electrical and Computer Systems, Environmental, Materials, Mechanical, Mechatronics, or Software). A Bachelor of Business majoring in Business Analytics and Statistics can be combined with a Bachelor of Arts, Design, Education, Fine Art, IT, or Media Communication.
THE HIGHLIGHTS Global data challenges
Professional accreditation
Test your skills on real-life data issues
Gain professional recognition and the right to practice
Participate in a global business analytics challenge with other business school students. Previous data challenges focused on issues such as poverty, climate change, gender equality, healthcare, technology, film reviews, airline records, and international standard test scores. The core business analytics classes also include data challenges.
Components of your study can help you gain statistical accreditation. You can use your major in Business Analytics to apply for a Graduate Statistician qualification from the Statistical Society of Australia.
Open data and software projects Work with an experienced developer Participate in the annual Google Summer of Code project to use the latest open source software and develop new business analytics methods. Students work with an experienced developer on a 3-month programming project.
Work integrated learning Put your study into practice, in a workplace Choose an industry-based learning elective to spend time in a business firm or consultancy. Previous students have had practical placements with Tennis Australia, KPMG, EY, Deloitte and the four major Australian banks.
Research scholarship programs
Further study options Monash Business School is a launching pad for the leaders, innovators and CEOs of the future. Many of our most successful graduates have studied beyond their first degree to carve out a niche, build leadership skills, change career direction, or develop the specialist skills for a senior industry role. While you might be eager to get out into the workforce, a year or two of postgraduate study can give you a significant competitive advantage when you ultimately set off to build a career. We offer: > Bachelor of Commerce (Honours) – Business Analytics > Graduate Certificate of Business > Graduate Diploma of Business > Graduate Diploma of Economic Analytics > Master of Business Analytics
Work with leading academics on current research projects
> Master of Actuarial Studies
Gain extra experience in research, practise skills to further your interest in a research career, or prepare for an Honours degree. Previous research programs have focused on sport, bushfires, online behaviour, pedestrians, physics and the stock market.
> Master of Applied Economics and Econometrics
Data science communities Join a community group to give your study a practical focus There are numerous community groups available in Melbourne. Data Science Melbourne, R-ladies Melbourne and MelBURN offer networking and international speakers, the Monash Business Analytics Team meets fortnightly and holds an annual meeting with international speakers and provides analytics workshops.
> Master of Financial Mathematics > Doctor of Philosophy – Business Analytics
Find out more To learn more about Business Analytics at Monash Business School visit: monash.edu/business/future-students Stay connected with Monash Business School:
The information in this brochure was correct at the time of publication (June 2021). Monash University reserves the right to alter this information should the need arise. You should always check with the relevant faculty office when considering a course. CRICOS provider: Monash University 00008C Monash College 01857J.