Predictive analytics is the use of 'big data' to improve an organization's effectiveness and improve a company's return on investment. Master's degree programs in this field can readily be found in universities across the country.
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Information about Master's Degree Programs in Predictive Analytics
Master's degree programs in predictive analytics can be found in both online and on-campus formats and may be completed through full- or part-time study. The number of credits required ranges from 30 to about 60. The following types of courses can often be included.
Applied Linear Models
Students will explore basic linear model theories in these courses. In statistics, this can mean the application of a number of regression processes. Students gain practice with ANOVA, inference, and least square estimation prior to course completion.
This course teaches students about modeling various phenomena and basic statistical inference. Students deal with a range of statistical methods and apply them in a real world context. Throughout the course, students will draw on their math knowledge in the development of statistical models.
Students look at the benefits of data mining and how data is stored and warehoused. They will learn about the algorithms used by engineers and in the use of data mining software. Data mining courses also allow student practice in real world applications such as product searches, automated merchandising, and dynamic pricing.
Courses in database concepts teach students about various database applications used to analyze business needs and requirements. After analysis, students can take those needs and develop appropriate database systems. By the end of the course, students should be familiar with database terminology and concepts, in addition to the creation of queries, reports, and tables.
The application of statistics in a real world context is important. Students will experience a variety of statistical methods used in the analytics field. This includes regression statistics, one and two-way ANOVA, and Chi-Square testing.
If you are hoping to apply to a program in predictive analytics, you will usually be asked to meet several typical requirements. You will need to submit your official transcripts, and applicants who have an undergraduate GPA of between a 3.0 and 4.0 may be given preference. Specific coursework in your bachelor's degree may be preferred, such as computing and statistics. GRE scores are also commonly required. When applying for this program, you will sometimes be asked to submit a resume and a statement of intent.
'Big data' is a 'big deal' these days, for businesses both big and small. This growing field offers many options for master's degree students who might choose to complete their work in the classroom or at home, finishing in as little as eleven months, full-time, or breathing easier with a part-time schedule.