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
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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
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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
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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):
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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, r.f.swarttouw@vu.nl
• 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. PreMaster’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 PreMaster’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
• studentenbalie@vu.nl