Enjoying quantitative analysis could indicate a good match for pursuing a master’s in business analytics or a master’s in data analytics. In the last few years, the number of graduate programs in data science has grown from only a handful to more than 170. “Our research shows that more companies today are formalizing the role of data scientist, one specifically dedicated to generating game-changing insights from the growing mass of data in the organization,” says Michael Lock, in the April 8, 2016, article “Is a Big Data Degree Really Worth It?” on AberdeenEssentials.com. The vice president and principal analyst at […]

Insurance companies have been analyzing data longer than almost any other industry, starting way back before the advent of computers. Actuaries are essentially data scientists who study the potential impact of risk, analyze data, and attempt to minimize the negative impact of unforeseen events as they occur. Although actuaries are best known for the risk assessment work done for insurance companies, they also work extensively with financial planners and strategists, multinational corporations, consultant agencies, and federal, state, and local governments. In the wake of the Big Data craze, actuaries are finding themselves in more demand than ever. An incomprehensibly huge […]

Big Data analytics has become a major driving force behind business decisions, especially in large organizations. Instead of investing a massive amount of capital upfront for an infrastructure large enough to handle the amount of data necessary to generate compelling, valuable insights, businesses now have the option of shifting the resource-intensive burden of analytics to the cloud. Some 70.1 percent of organizations regularly rely on cloud analytics as a key part of their strategy, according to responses to an Enterprise Management Associates (EMA) study, The State of Cloud Analytics 2016, sponsored by the software information company Informatica. Another 21.6 percent […]

What determines whether something has an inherent, real value? In ancient times, a thing had value if it could be traded for something else of value. But data is intangible and constantly variable. If a farmer in ancient Mesopotamia had excess grain but needed metal tools for farming, he could trade with a local blacksmith who had tools but needed grain. This is the backbone of supply and demand. The same dynamic applies to data in our modern world of cloud-based ones and zeros. A company that generates data has created something of value to the originating company, to customers, […]

The concept of compiling data and organizing it for easier analysis is as old as humanity itself. Predictive analytics, or the process of analyzing data in an attempt to predict future events, can be traced back as far as the 17th century. In the infancy of insurance underwriting, Lloyd’s of London established the first major insurance market, which covered the shipping and trade industry. Financial specialists would analyze known variables, weigh risks, and decide whether to insure a client. If they took the risk, the bankers would sign their names under a list of potential risks, hence the term “underwriting.” […]