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New “Data Science” program to launch this fall

April 26, 2017

Drawn on a need for experts to utilize data as a decision-making basis

Given the ever-increasing amount of data, there is a need for experts who are capable of filtering and interpreting information in order to helping businesses benefit from their data. So it comes as no surprise that the emerging job of data scientist has long been regarded as one of the most lucrative careers of the future. In response to this, the WU Executive Academy has developed a new program providing participants with fundamental theoretical and practical know-how. Under the academic directorship of Prof. Axel Polleres, they will learn how to help businesses derive maximum benefit from analyzing their data and using the resulting insights as a basis for making informed decisions. The new “Data Science” program, which will be taught in English, will launch on November 8, 2017.

Banner Data Scientist

Never before have businesses amassed a greater wealth of information about their products, markets and customers than today. While it is clear that this information is extremely valuable, many feel overwhelmed by the sheer amount of data. Hence, experts capable of turning today's information overload into a gold mine by extracting the knowledge that really matters are more sought after than ever: Not for nothing has the Harvard Business Review said that data scientist is the “sexiest job of the 21st century”.

In response to the enormous demand from Austrian and international businesses for data specialists, the WU Executive Academy has developed an innovative program. “Data Science” is designed to provide managers who have to deal with data as part of their work with a comprehensive toolkit, taking into account the fact that currently many professionals have no choice but to learn relevant skills, such as how to analyze data, on the job.

The professionalization of a trend

The training at university level is meant to contribute to the development of this professional role, which has a bright future: “As a university, we take a keen interest in the professionalization of jobs. And this is also true with regard to modern careers such as data scientist. While the practical relevance of data science is undisputed, the field has yet to establish itself as a new sphere of work in society,” explains Prof. Barbara Stöttinger, Dean of the WU Executive Academy. “We are proud that we can contribute to this process with our “Data Science” program. Our aim is to help businesses and individuals advance by providing them with the knowledge and skills they need, also taking into account the social responsibility when it comes to managing data.”

In the course of 3 four-day modules, specialists with considerable subject-matter expertise will help participants acquire a comprehensive theoretical and practical understanding of data science. The training will cover the tools, techniques and concepts needed when it comes to using data as a basis for making better decisions, taking into account every step of the process - from exploratory data analysis to modelling, validating and cleansing data to visualizing and communicating data.

Participants will focus on their professional practice

Special emphasis will be put on ensuring that participants acquire the comprehensive know-how in a hands-on approach: Working on projects, which involve their businesses, will enable the future data scientists to transfer their training to their daily work while still attending the program.

“Data Science” is designed for professionals seeking to optimize corporate decision making, including product managers or managing directors from a wide variety of fields such as marketing, management consulting, finance, supply chain management, IT or health care. The new program, which will be taught in English, will launch on November 8, 2017.

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