This new programme is in response to the growing relevance of big data analytics in business decision making. Insights from conversations with business leaders across the private and public sectors clearly indicate the growing influence of data analytics in organisations across all sectors and the need for capacity building in this area. Evidence shows that there is no lack of data scientists but a shortage of business leaders and managers with a good working knowledge of data science. This is the specific issue that the MSc in Data Science for Business addresses. The programme is designed to provide students with a deep understanding of the industrial and scientific relevance of advanced analytics and their application in strategic and operational decision making for organisations across all sectors. It does this by blending knowledge and skills in data analytics, business decision making and leadership. In addition, there is a particular emphasis on personal and professional development to help build individual capability to support career development. Students in this programme will: Acquire knowledge, skills and experience for a successful career in data driven roles; Develop an understanding of the application and implications of data analytics in organisations across different sectors; Develop knowledge and skills of data analytics tools and techniques for business decision making; Enhance capabilities and confidence for championing data analytic projects; Enhance and develop critical, analytical, interpersonal and other transferable skills. The programme offers the students the opportunity to develop specialist skills by choosing electives under areas of: finance, marketing, data science, energy and management.

Demand for people with big data skills is projected to grow rapidly in the coming years. Average salaries are higher in Big Data jobs than the IT average and the skills shortage will make that gap bigger. The Stirling Big Data MSc is run in partnership with industry and is designed to produce graduates with the skills that companies need. e-Skills UK estimate that: • By 2020 there will be 56,000 Big Data jobs in the UK alone • Big Data professionals earn on average 31% more than other IT professionals • 77% of companies say it is difficult to recruit people with the Big Data skills they need The Scottish Founding Council has recently established the DataLab Innovation Centre, a £11.7 million investment that shows the relevance of data analytics to the future of Scotland’s economic and social development. In an on-going survey by the DataLab of organisations across all sectors in Scotland, 44% of the organisations indicate that the biggest constraint to develop a data driven decision making approach is the lack of a compelling business case and lack of the right skills and access to training. This demonstrates the need for capability building in this area not only in Scotland but at an international level. A 2014 report by Egon Zehnder and the Kellog School of Management states that “all leaders need a working knowledge of data science” and that “there is no lack of data scientist, rather a lack of data-ready managers”. This is the specific issue that the proposed programme is going to address.