Data analytics has become an essential part of decision making in modern business. For master’s students, it’s a key skill for aspiring leaders
Data analytics is one of the hardest skills to recruit in, yet one of the most important, according to a Financial Times skills gap survey.
While data analytics was once viewed as a technical skill left to scientists and IT professionals, it is now an essential skill for any leader looking to make sense of the vast quantities of data at their fingertips.
Business schools have responded accordingly. Bocconi University in Milan offers a , aiming to provide graduates with the competencies to extract impactful information from data in their industry of choice.
So why is data analytics an essential skill, and what are some of the core competencies that master’s students can gain to succeed?
Why understanding data is important
Put simply, data is a way of understanding things better, whether that’s human behavior, financial patterns, or many other trends and processes.
Professionals in the workplace today, whether they’re in tech or non tech-specific companies, can gain a great advantage through being able to comprehend data and use it to influence the organizations they are working in.
“Data provides a great opportunity to better understand processes at a societal and individual level, and to make more informed decisions in any sector,” explains Alessia Melegaro, program director of the Bocconi MSc in Data Science and Business Analytics.
The MSc aims to equip students with the skills to apply quantitative methods to business topics and concepts.
The program attracts students from technical backgrounds—science and mathematics students—looking for ways to apply their knowledge practically, as well as students aiming to bolster their analytical toolkit.
MSc student Louis Lacombe had a bachelor’s degree in econometrics, and was looking to better understand contemporary problems through data. “Data science seemed like a suitable path to follow as it combined both a more data-driven approach and the business side of a university such as Bocconi.”
Core modules touch both on business subjects like marketing and innovation, as well as introducing theoretical foundations for computer science, machine learning, and statistics. Students then have the chance to take either the Data Science track or the Business Analytics track, allowing them to delve deeper into areas which best match their future ambitions.
What are the most important data analytics skills?
For students looking to use data to make better decisions and influence the organizations they are working in, there are several important skills to master.
First, a theoretical grasp of technologies and how they are used. Many of the core courses on the MSc are quite theoretical, taking time to cover the theory on topics like machine learning, econometrics for big data, and statistics and modelling.
Understanding the theory is one thing, but being able to do it yourself is equally important. This demands hard computational skills. This is where having knowledge of computer science and algorithms are important, as well as concrete skills like programming and modelling.
“I gained a better ability to approach decision making, structuring the process and making better decisions using both theory and data,” Louis says.
Equipped with theory and the right skills, students can then master how to apply what they’ve learned in business scenarios. This is about highlighting and evaluating business problems, and identifying the correct tools to solve the problem.
The Business Analytics track emphasizes this problem solving approach. “Students learn quite tough and complex theoretical models, and then they have to use these techniques to answer specific business questions,” Alessia says.
Consultant and Bocconi MSc graduate Daniel Ruiz recalls how this approach showed him how he could bring computational skills to a future career in advising businesses. “More important than learning algorithms, I learned how management can use these methods to transform its business and be more disruptive and competitive.”
What career opportunities can data analytics skills open up?
From social media to healthcare to government, data analytics skills can really open up opportunities in any industry.
‘Business analyst’ and ‘data scientist’ are popular roles which many graduates go into. Graduates can find a number of these roles across both the private and public sector. Tech companies in particular remain a big employer for business school students, and look to continue increasing their hiring in 2021.
Alessia highlights that many graduates choose to continue their studies through taking a PhD, with the MSc providing the perfect platform to specialize in topics through a data analytics lens.
Given the demand for data analytics skills, students who can master data and apply it to the world’s problems will be well placed for a successful career.
Student Reviews
Everything was great ( apart from the covid part)
I really enjoyed this experience because I built a really strong relationship with other students and professors. This fact has permitted me to grow as a person and also to improve my academic background by confronting myself with other people. I would encourage Bocconi to create a new method of exams for online courses (I have experienced it during the covid-19 period) because they could not manage to control and to avoid shameless situations such as software breakdowns just before the exams.
Amazing course
The workload is really heavy, but that’s the only way to prepare students for the job market. Bocconi offers also many services to help students kick off their careers. Overall, Bocconi University Masters Degree is the best option for ambitious students and the best choice among Italian and maybe European universities.
A great experience
A fundamental experience to understand what I want to do in life. In the three years I attended Bocconi University, I laid the foundations for my business education. I will always be grateful to it. I absolutely recommend it.
Bocconi: Italian Quality
The great thing about this University is that it is one of the few Italian universities offering such international programs. My course is unique and doesn't exist anywhere else, so if you like arts and economics, Bocconi is the best place. The course provides both subjects concerning arts/philosophy, and ones more related to economics. Personally, I have decided to follow a different path because I am not so interested in working in this specific field, but this course is totally worth it if you want to work in a creative industry. Indeed, it gives people with a passion for luxury, arts and so on with a complete knowledge concerning management.
The best part has been the great support offered by the University in every aspect, going from on-campus facilities to monthly job fairs to better understand the kind of career we want to pursue. This is often taken for granted in Italian universities.
Professional and amazing
Very well organized university.
I have studied Financial management and I graduated with 108/110. The teachers are really good and professional. The university has all the facilities and the services are professional. I really enjoyed studying in a professional and international environment. Bocconi has played an important role in finding my actual job!
Great university which gives wonderful placement opportunities.
I really like Bocconi. What I appreciated the most was the high level of teaching and the opportunities given in terms of placement and networking connections.
I strongly recommend this university if you want to pursue a great working career.
Beautiful environment
Beautiful community of students with lots of opportunities for in-campus activities. The university offers 8 residences near the campus, perfect for freshmen at the first year in Milan. Professors are very prepared and always ready to help students
An outstanding university
The great efficiency and organization, the high quality of teaching, and the possibility to take part in many interesting and useful experiences make Bocconi University stand out. It distinguishes itself from the Italian academic background. Many people say Bocconi is too stressful, but to me, it’s worth it.
Excellent
Bocconi is outstanding university. Among the best in Italy. The international franework helps students to get involved in projects/associations that enrich the campus. I study law and i’ m happy about my 4 years and experiences that i had the opportunity to
Everything was great ( apart from the covid part)
I really enjoyed this experience because I built a really strong relationship with other students and professors. This fact has permitted me to grow as a person and also to improve my academic background by confronting myself with other people. I would encourage Bocconi to create a new method of exams for online courses (I have experienced it during the covid-19 period) because they could not manage to control and to avoid shameless situations such as software breakdowns just before the exams.
Amazing course
The workload is really heavy, but that’s the only way to prepare students for the job market. Bocconi offers also many services to help students kick off their careers. Overall, Bocconi University Masters Degree is the best option for ambitious students and the best choice among Italian and maybe European universities.
A great experience
A fundamental experience to understand what I want to do in life. In the three years I attended Bocconi University, I laid the foundations for my business education. I will always be grateful to it. I absolutely recommend it.
Bocconi: Italian Quality
The great thing about this University is that it is one of the few Italian universities offering such international programs. My course is unique and doesn't exist anywhere else, so if you like arts and economics, Bocconi is the best place. The course provides both subjects concerning arts/philosophy, and ones more related to economics. Personally, I have decided to follow a different path because I am not so interested in working in this specific field, but this course is totally worth it if you want to work in a creative industry. Indeed, it gives people with a passion for luxury, arts and so on with a complete knowledge concerning management.
The best part has been the great support offered by the University in every aspect, going from on-campus facilities to monthly job fairs to better understand the kind of career we want to pursue. This is often taken for granted in Italian universities.
Professional and amazing
Very well organized university.
I have studied Financial management and I graduated with 108/110. The teachers are really good and professional. The university has all the facilities and the services are professional. I really enjoyed studying in a professional and international environment. Bocconi has played an important role in finding my actual job!
Great university which gives wonderful placement opportunities.
I really like Bocconi. What I appreciated the most was the high level of teaching and the opportunities given in terms of placement and networking connections.
I strongly recommend this university if you want to pursue a great working career.
Beautiful environment
Beautiful community of students with lots of opportunities for in-campus activities. The university offers 8 residences near the campus, perfect for freshmen at the first year in Milan. Professors are very prepared and always ready to help students
An outstanding university
The great efficiency and organization, the high quality of teaching, and the possibility to take part in many interesting and useful experiences make Bocconi University stand out. It distinguishes itself from the Italian academic background. Many people say Bocconi is too stressful, but to me, it’s worth it.
Excellent
Bocconi is outstanding university. Among the best in Italy. The international franework helps students to get involved in projects/associations that enrich the campus. I study law and i’ m happy about my 4 years and experiences that i had the opportunity to
Excellent university full of opportunities
I had almost zero experience in business before coming to Bocconi. However, this did not hinder my career prospects here. I was fortunate to receive valuable opportunities such as in-company training and internships. Through these experiences, I gained invaluable practical insights into various business scenarios, becoming more acquainted with the real business world.
Before arriving here, I had not learned Italian, which initially made me concerned about possible cultural or language barriers. Bocconi offers Italian language courses that proved indispensable in helping me adapt to Milan during my days here. Additionally, my Italian classmates have been incredibly welcoming, assisting me with cultural adjustments and willingly serving as language partners to help with my Italian language learning journey. My two-year life here has become both manageable and enjoyable.
In conclusion, I would recommend this university to those people who are eager to embrace a future brimming with opportunities.
So many opportunities
Bocconi has been an amazing journey for me, filled with growth and opportunities, both on a professional and personal level. The professors teaching the International Management Master's are of really high quality and they were able to transfer some much "knowledge that matters", thanks also to the many teamworking experiences during the course. Bocconi also allowed me to experience a double degree program with ESADE, which taught me a lot both in terms of professional development, as well as allowing me to expand my network of international students even further. Overall, Bocconi unleashed plenty of opportunities I could not foresee before joining the university and that I'm really grateful for and excited to dive into.
Invest in your knowledge
Bocconi offers plenty of opportunities to grow as a person and as a professional. I was able to both broaden my interests and deepen existent knowledge during my Master's degree in Finance. It's very challenging, but the result is totally worth it. Bocconi has a very impressive reputation across the world, which allowed me to have an internship at my dream company.
A University Ripe with Opportunity
As a first year Masters in International Management student, the global perspective, abundant learning opportunities and networking opportunities were the main aspects that drew me towards pursing my studies at Bocconi. And Bocconi has delivered in full on these promises.
In my classes I have really valued the more application based approach which centres around collaboration with peers from around the world. There are also so many opportunities for learning outside the classroom through supplementary activities, societies, guest lectures and other events hosted by the university!
The networking opportunities and career services are world class. The university regularly hosts events like Bocconi
Environment and experiences
Entering Bocconi, I was shy and uncertain. I was surprised to discover a supportive community that not only challenged me academically but also encouraged me to come out of my shell. I found myself surrounded by lifelong friends who turned out to be an invaluable support for me.
Despite my initial indecision, my chosen course (Economics and Management for Arts and Culture) proved to be the perfect fit, seamlessly blending rigorous economic principles with insights into the cultural landscape. I found myself immersed in a dynamic environment that fostered healthy competition, pushing me to excel while simultaneously supporting my personal growth.
Reflecting on my period at Bocconi, I can confidently say it was the best time of my life. Through unforgettable experiences in students associations, internships and study-abroad periods, Bocconi accompanied me from adolescence into adulthood. It provided me with the confidence and skills necessary to navigate the complexities of the real world, offering me an environment where I could flourish both academically and personally.
Great programme in MSc Finance
I have done the MSc in Finance, and I am extremely happy with it.
The quality of the education is really good, and has more than prepared me for my job in Asset Management after my studies. There are also a lot of group projects and labs in the classes which lets you try things in practice.
In addition to this, there are a lot of good student associations for finance which allows you to connect with a lot of really brilliant people.
My Experience at Bocconi University
Bocconi University offers a great deal of programs. The small classes make it easy for students to interact with professors, all very experienced in their field, and not only care for the students' life inside the classroom but also for their lives outside, providing many amazing extracurricular activities, from sports, and associations to theater and singing. Overall, a great experience!
Excellent university providing a great preparation
I have chosen Bocconi University for both my bachelor's and master's degree and I am extremely satisfied with my experience and the preparation the institution has given me, both academically and to be equipped to enter the job market. The programs are very international, which has allowed me to make friends from all over the world, and the university offers a wide range of interesting courses, both in Italian and in English, which often combine a theoretical strong preparation together with practical applied projects. Bocconi also has a great and efficient career service that organizes useful events to get ready for the job market, meet employers and network with companies. I have also appreciated the presence of over a hundred student associations, which has allowed me to pursue some interests of mine while meeting students from several different courses and gainining more practical experience through additional projects.
