IBM-DePaul Predictive Analytics Program to Issue Masters Degree
IBM and DePaul University have unveiled the Center for Data Mining and Predictive Analytics, where IBM says students can study a skill increasingly in demand. As part of the program, DePaul is offering the nation's first masters of science in predictive analytics.
The new curriculum will prepare university students for careers in industries such as energy and utilities, healthcare, education, transportation, criminal justice and public service, which increasingly require analytics skills.
According to the April "IT Occupation Trends in Illinois" study by the Illinois Technology Association and CompTIA, 65 percent of Illinois businesses see business intelligence and analytics as important jobs they must fill within the next two to three years. Firms rate these as important occupations, yet they lack confidence in finding the right workers for these roles.
Today, businesses and governments are driving transformation projects with predictive analytics to understand customer behavior, detect fraud, lower energy consumption through smart grids, improve customer buying experiences, reduce traffic congestion, predict part failures and combat crime. As organizations seek to create value from the exponentially growing amount of structured and unstructured data, they need leaders with strong analytical capabilities to understand this data for smarter decisions and improved performance.
When it opens in September, the DePaul University Center for Data Mining and Predictive Analytics will be an applied research center focusing on the applications of data mining across all industries. This joint venture involving computing and marketing faculty is designed to bridge between technology business.
Students in the predictive analytics masters program can choose from a curriculum of approximately 30 courses. They will obtain a variety of skills required for a career in data mining and predictive analytics, including the ability to analyze large datasets and to develop modeling solutions to support optimized decision-making; a strong understanding of the fundamental principles of marketing and customer relationship management; and the ability to present results effectively to a non-technical business audience.
"Predictive analytics is providing new job opportunities for students entering the workforce in all areas of business," says Suzanne Fogel, chairwoman of DePaul's marketing department.
As the center's first partner, IBM will provide industry expertise and guidance to professors and researchers as they apply predictive analytics and data mining skills to solve business challenges. IBM will also donate resources in the form of predictive analytics software, curriculum and datasets, and guest lecturers. In support of the center, IBM is announcing its Analytic Certification in Education (ACE) program that validates a student's proficiency in IBM SPSS predictive analytics software and serves as a significant differentiator for those vying for prominent positions in today's job market.
According to the U.S. Bureau of Labor, demand for individuals with proven statistical competencies is expected to grow 20 percent through 2018. As more organizations harness the exponential growth of data with predictive analytics to improve decision-making, the demand for experienced professionals is critical. The DePaul University Center for Data Mining and Predictive Analytics will give employers confidence in an individual's ability, advance careers and create leadership opportunities for these students.
Deepak Advani, vice president of predictive analytics at IBM, says, "As analytics goes mainstream, organizations realize that smart and accomplished professionals fluent in this knowledge are critical to their success. IBM predictive analytics is used by academic institutions around the globe in preparing students for successful careers and giving them a significant advantage upon graduation. IBM and DePaul University share the vision that educating students in the application of predictive analytics will advance careers and create leadership opportunities in tomorrow's workforce."