Why Study Data Analytics?
In an era where data drives decisions, Data Analytics is becoming increasingly important. It allows organisations to make informed decisions by turning complex data into applicable insights. Recognising the importance of this field, Owen John Havercroft Reyes, a recent graduate of International Business at the University of Sheffield, enrolled as a first-year master’s student and became an international ambassador at HSE University-St Petersburg. In this article, Owen shares his experience of enhancing his technical expertise in the programme ‘Data Analytics for Business and Economics’.
After completing my International Business degree, I had to decide whether to enter the workforce or continue my education. On the one hand, I was eager to obtain practical experience right away, but on the other, I felt the need to increase my skill set, particularly in technical areas that were not fully covered in my bachelor’s programme.
Studying business was an incredibly fulfilling experience for me. I learned more than I had ever imagined, not only from the courses I took but also through projects and by engaging with people from diverse backgrounds. Nevertheless, I was motivated to look for something more challenging after seeing friends who received more technically demanding degrees like engineering and economics. While updating my CV, I saw a significant gap: I lacked hard skills. I wanted to include something more than ‘Trust me, I’m good at presenting and cross-cultural communication’ in my CV. I needed something that would not only complement my business background but would also equip me with tangible skills. This led me to Data Analytics.
Why Data Analytics?
The importance of data in today's corporate world is increasing. The ability to properly analyse and apply data has rapidly evolved into a necessity for managers. If you're curious, check out these two articles that show how companies like Starbucks and Coca-Cola use data to make better decisions. These decisions range from choosing optimal locations, deciding on the products to offer, and identifying their target customers for more effective marketing strategies. They are far from the only ones leveraging data in such a way, and this shift in how companies operate persuaded me to pursue a career in data analytics. The Master’s programme ‘Data Analytics for Business and Economics’ at HSE University-St Petersburg combines management theory with practical data skills, giving me the perfect segue into a more analytical world, while still taking advantage of my business background. Personally, I find the subject to be not only intellectually stimulating, but also fun at times.
Even if you already come from a quantitative background, I strongly believe this programme can help you. For instance, my classmate Ruslan, who comes from an Economics and Data Science background, decided to study Data Analytics, and this is why.
Ruslan Roshchupkin, 1st-year Master’s Student and Business Analyst
I chose to study Data Analytics to advance beyond the knowledge I gained in my bachelor's degree. In this master's programme, I will receive in-depth knowledge that has been tailored to current business needs. The curriculum, especially in the second year, will expose me to various business concepts which I lacked in Economics.
My Experience So Far
The curriculum has been challenging but useful, as it focuses on practical application and real-world problem-solving as opposed to simple theory. In my first semester alone, I began coding with three different programming languages. This experience has been exciting and has greatly improved my professional ability and confidence.
For example, in our SQL course, we didn't just cover the basics of the language. We began from scratch by creating a logical and physical data model outside of SQL, and only after that downloading and creating a database as well as learning about the underlying theories and principles in databases. This approach provided me with a more than solid foundation for SQL. I wanted to take SQL because it is an essential language for data analysts, as demonstrated by my professor.
Vladislav Koscheev, SQL Professor for Data Analytics for Business and Economics
SQL is crucial for handling data these days, since a lot of corporate information is well-organised in data warehouses. SQL aims to retrieve and process data to help employees make decisions based on proven facts and a solid foundation.
It is also important to grasp the concepts behind every tool you use. So, knowing the principles of relational database management systems can significantly improve the quality of your work and your experience with SQL.
We also recently began a Machine Learning Course—a very interesting and relevant topic in today’s world. Having the opportunity to learn complex topics like this is something I am very grateful for, especially considering our professor has years of experience developing AI in one of Russia’s most popular banks and has developed and implemented over 20 machine learning models. In the future, I hope to apply the knowledge from this course to a project of my own.
How Analytics Has Helped Me Already
Data Analytics has already transformed my professional life. This has shown itself in my work, where I have used the data visualisation techniques I learned in class. I can confidently say I now have a set of skills I did not previously have: I can transform data into actionable insights. This is not only useful by itself, but I also find my presentations and graphs to be clearer than before, which has enhanced my workplace communication with stakeholders and peers.
In addition to the new skills, I feel far more confident now in approaching problems and using analytical thinking to come up with better solutions. I believe that I understand concepts from a first-principle basis, and this allows me to better understand and break down complex issues. Quantitative skills are something that employers value deeply, which is why the structure of the Data Analytics programme at HSE University-St Petersburg can help students so much.
Evgeny Antipov, Associate Professor at HSE University-St Petersburg
I believe employers highly value the ability to create practical products, which is why I encourage my students to focus on developing such outputs. For instance, they might create a data-driven price optimisation system or a customer analytics application. This process requires a deep understanding of business concepts, data culture, and proficiency in programming. Unlike many other universities still using outdated software like Stata or SPSS, we prioritise teaching R and Python. These powerful, open-source tools enable our students to efficiently tackle complex data tasks that are otherwise time-consuming with traditional software.
Moving Forward
My experience in Data Analytics is ultimately about becoming a more competent individual capable of solving business problems both in the present and future. With my bachelor’s experience in business and strategy, the analytic skills I am learning are successfully rounding out my professional profile. This degree has not only opened up my career opportunities across various industries; it has also equipped me with the skills needed for remote work, something I truly value.
Data Analytics is a field that can benefit individuals from any background. It equips students with skills that are essential in the current business landscape, preparing them for roles ranging from management positions to specialised data analysis. More than just a part of contemporary business education, Data Analytics enables students to succeed now and in the future.
Written by Owen Havercroft, 1st-year student of the Master’s programme ‘Data Analytics for Business and Economics’