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Data-Driven Decisions: The Key to Successful Growth!
Find out how TU Freiberg trains students in data-based decision support - a growing professional field for bachelor's graduates.
Data-Driven Decisions: The Key to Successful Growth!
A new master's degree program entitled “Data Literacy and Business Analytics” at the Technical University of Freiberg starts in the winter semester of 2025/26. This innovative course of study is intended to provide prospective specialists with the necessary knowledge for data-based decision support. Students are trained in the central subject areas of collecting, preparing, analyzing, interpreting and implementing data-driven solutions. The aim is to analyze complex questions using modern data management and to translate them into well-founded decision-making processes. This is particularly relevant as over 402.74 million terabytes of data are generated daily, highlighting the need for data-driven decision making, IBM reports.
The new master's degree program is intended for people with a bachelor's degree in business or economics. The course also requires basic knowledge of statistics and database programming. Through project modules and case studies, students will work on real challenges from business and society. This offers the opportunity to gain practical experience and apply theoretical knowledge directly.
Career prospects in data analysis
Graduates of the master's program will be able to analyze data-driven questions across disciplines. The professional fields in which these skills are advantageous include, but are not limited to, business intelligence, data analytics, data-driven marketing, customer analytics, public sector data science and data governance. The demand for such skills continues to grow as companies increasingly rely on data-driven approaches to make better strategic decisions.
The benefits of data-driven decision making are significant. Companies report higher customer satisfaction, better strategic planning, optimization of performance, and sustained growth and profitability. Example applications range from online retailers using customer feedback for personalized marketing campaigns to financial institutions using machine learning to detect fraud.
Challenges and best practices
Despite the opportunities that data-driven decision making presents, there are also challenges. These include data quality, data illiteracy and over-reliance on historical data. To address these issues, IBM has defined best practices that could easily be integrated into the course. This includes defining goals, identifying and preparing data, and conducting data analysis to draw informed conclusions.
Technologically, the field of data analysis is broad. Tools such as business intelligence solutions, data warehousing and AI platforms are essential for modern and efficient data processing. These technologies enable companies to successfully implement data-driven strategies and offer graduates of the new master's degree program a wide range of professional opportunities.
The master's degree program "Data Literacy and Business Analytics" at the Technical University of Freiberg relates to a rapidly growing market that is dynamically evolving due to technological developments and social changes. The combination of knowledge and practical skills will help prepare graduates to meet the challenges of the data-oriented economy.