Economics and Business Analytics

Data is considered the oil of the 21st century. But just collecting data isn’t enough. Bright minds know how to manage and oversee huge amounts of data and get the most out of the information. You could be one of these data experts.How can we improve our health care system? Can we prevent large amounts of food from grocery stores from ending up in the trash? How can online shops increase sales? Nothing works if we do not collect data and information – whether in research, in the fight against crime, or for any company that wants to be successful. The new Master’s degree program Economic and Business Analytics can show you how to keep track of huge amounts of data, how to interpret data, how to make it profitable for companies and to benefit society, and how to make business decisions based on this data.Why This Degree is Particularly AttractiveYour expertise will be highly sought after: Businesses and society need university graduates who are familiar with data-based decision-making.The interlocking of areas in economics and business administration as well as in business informatics is unique in Austria.Specializing in areas such as the digital economy, financial markets or healthcare gives you a head start.As part of a special mentoring program, each student is assigned to a professor in order to get direct, constructive feedback, discuss personal areas of expertise, and help develop ideas for a future career.Areas of SpecializationThe program begins with basic courses in Applied Economics and Management, Digital Transformation and Technologies and applying analytical methods in the following subject areas:Econometrics: Learn to combine economic theories with statistical methods and make estimates and forecasts based on different data.Decisions in firms: How does a company find employees who are the right fit? How can a company motivate employees and does ‘money only’ matter and play a key role?Data Mining: Learn the methods and tools you need to find hidden patterns in an organization’s integrated and clean data sets to derive real business value from this type of information. You can, for example, analyze a customer’s purchases in his/her online shopping cart to find out which other products he/she is more likely to also put in the cart.Operations Research: Optimize distribution networks, simulate business processes, improve resource utilization. Competitive companies make plans and decisions based on quantitative models and methods.