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Business Analytics
Faculty of Sciences
Why Business Analytics?
Business Analytics in practice: The VU medical centre
Situation at VUmc
Containers with medical instruments• 1800 different containers• 1 till 20 containers needed
for 1 operation
• 32 operating rooms• 60 departments• 80 storage rooms
Stock in VUmc
Problems at VUmc
• Lack of space• Loss of materials• Financial limitations• Miscommunication between
departments
Consequences:• Longer operations• Extra costs• Too many items in stock• Not enough items in stock
Role of Mathematics
• How many storage rooms?• Minimalize walking distances• Analyse demand for products• Calculate stock levels• Determine order strategy• How to cope with variability?
Role of Information Sciences
• Stock registration• Formulate demands on software• Calculate profits/costs
Role of Business
• Standardization• Fear of changes• Outsourcing• Arrangements with suppliers• Independency• Expand storage
The ideal mix: Business Analytics
• Focused on improving business processes with the use of: – Mathematics– Information Sciences– Business
• Practical solutions via:– better information– smarter decision rules– better risk management
Business Analytics: Master Programme (1)
• 2-years (120 EC), in English
• Specializations– Optimization of business processes– Computational intelligence– Risk management for financial markets
• Internship– Six months (36 EC)– Contacts with more than 200 business companies
Business Analytics: Master Programme (2)
• Compulsory courses (33 EC):– Applied Stochastic Modeling– Applied Analysis: Financial Mathematics– Data Mining Techniques– Project Optimization of Business Processes– Scientific Writing in English– Statistical Modeling
• BA research paper (6 EC)
• BA Internship (36 EC)
Admission requirements: Master BA
• Bachelor of Science
• At least 90 EC Mathematics and/or Computer Science and/or Econometrics courses
• At least 45 EC Mathematics courses,including Probability Theory and Statistics
• English language skills
Admission requirements: Premaster BA
• HBO-Bachelor degree Bedrijfswiskunde
• Other HBO-bachelor degree with sufficient mathematics/econometrics courses
• Bachelor diploma has to be obtained before 1 september 2012 !!
Business Analytics: Premaster Programme (1)
• 1 year, 30 EC compulsory program• Algemene Statistiek• Discrete Optimalisatie• Heuristieken• Inleiding Programmeren • Statistische Data Analyse• Stochastische Processen
• Tuition fee: €1,771 (not refundable)
Business Analytics: Premaster Programme (2)
• Make appointment with mastercoordinator: René Swarttouw, [email protected]
• Apply before 1 July 2012
• Register before 1 September 2012
Business Analytics: The Dual Variant
• Combination of study and work– As regular employee with matching salary– parttime work, parttime study– Total duration of study: 2½ year
• Possible only after the premaster year
• Job application! Companies select!
Business Analytics: Parttime
• NO separate programme for parttime students
• Lectures and practical work during the day and spread over the week
• Individual programme, dependent on availability
• Recommended availabiliy: two days!
Thanks for your attention!
Pre-Master's programme: Tuition fees and duration of studies
• In the 2012-2013 academic year, the contract rate for the Pre-Master’s programme is equal to the statutory rate of € 1,771. Tuition for non-EEA nationals is €9,000 or €11,000, depending on the Pre-Master’s programme in question.
• The contract rate is a fixed rate which is not refundable upon termination of enrolment, even though the programmes are generally worth 30 credits. Pre-Master’s students cannot receive exemption from paying tuition based on having paid tuition fees to the university or to another institute of higher education for a regular Bachelor’s or Master’s programme.
• The nominal duration of study for students coming from higher professional education (HBO) is four years, with one additional year at the statutory rate. The Pre-Master’s year is exempted for this purpose.
Master's programme: Tuition fees and duration of studies
• The statutory tuition fee is €1,771.
• The nominal duration of study is 1 year for 60 credits, 2 years for 120 credits, and 3 years for 180 credits. Students may study for one additional year at the statutory rate. After this additional year, they must pay the higher statutory rate of €4,834.Students wishing to take a second Master’s must pay the institutional rate (€10,500 per year at the faculties of Arts, Theology and Philosophy and €12,000 at other faculties).
• The statutory rate applies to students taking a second Master’s in healthcare or education whose first Master’s is not in one of these fields.
• The institutional rate does NOT apply to students taking two Master’s simultaneously as long as both degrees will be completed before 1 September 2013.
For questions and up-to-date information:
• Student Admissions stand at the Master’s Day information fair
• www.vu.nl/collegegeld