College students and young professionals often question the value of graduate school, including pursuing an MBA. However, many MBA graduates occupy C-level executive positions in Fortune-500 companies, including Sheryl Sandberg, an MBA alumna of Harvard Business School and the COO of social media giant Facebook. Many entrepreneurs also leverage the education they receive from an MBA into successful, profitable ventures.
Full-time or Part-time — MBAs Represent a Smart Educational Investment
It may come as a relief that committing to a full-time program at a national or international MBA program is not necessarily required. Men and women who aspire to career advancement but who must attend to family or other obligations can receive excellent educational training in evening or part-time regional MBA programs. Whether international, national or regional, a rigorous, data-focused MBA program is attractive to savvy prospective graduate school candidates and top-quality faculty members alike, along with representing an asset for universities.
Programs that utilize big data can improve the quality of education in any MBA program, making the program more forward thinking. Specifically, big data pertaining to real estate is especially relevant to the areas of data analytics, entrepreneurship and financial analysis.
Location, Location, Data
The term “big data” has become a part of mainstream language but remains poorly understood. At its most basic, data analytics involves analyzing raw information to draw insights and conclusions. In business, data analytics can be leveraged to disclose trends and provide guidance for important product and service development.
In academics, many excellent MBA programs feature curricula that apply qualitative and quantitative models to deal with real world issues in a variety of fields. These programs are often interdisciplinary, including coursework in computer science, and general business along with analytics. An MBA program may feature an exercise where students advise a would-be client company considering relocation. Such exercises often include data analysis of amenities that are attractive to prospective home buyers, such as accessibility to transit or location within walking distance of popular establishments such as restaurants or a gym.
Speculation in Data
According to Entrepreneur, market research refers to data and analysis pertaining to goods and services. Market research provides insight into past, present and future spending habits and needs of a company’s existing or potential customer or client base. For instance, market research frequently leverages big data related to real estate to determine optimal locations for new and expanding businesses for companies that wish to attract new customers or top employment candidates.
Undergraduate and MBA programs for future executives often feature entrepreneurial labs where students conduct mock or actual business enterprises during the course of an academic term. These labs employ market research data, including real estate data in nearly every aspect of their curricula. For instance, the MBA program for MIT’s Sloan School of Management includes classes like “Entrepreneurial Marketing,” “New Enterprises,” “Economic Analysis for Business Decisions” and “Strategic Marketing Management.”
The Data Scoop on Financial Reporting
Unlike market research and data analysis, financial reporting has lagged behind in the big data era. However, consumers and businesses alike increasingly rely on real-time data. The availability of real-time data allows individuals and companies to make informed decisions. This is especially critical when dealing with finances, where the wrong move can have catastrophic consequences for individual, household or company finances.
One of the major challenges with financial reporting is the sheer amount of data involved. Financial instruments and regulations are also frequently complex. These challenges are compounded when dealing with substantive issues such as underwriting consumer or commercial mortgages. Data analytics and big data can improve the quality of financial reporting, both in efficiency and accuracy.
MBA programs that teach up-to-date financial reporting practices are better equipped to prepare candidates for the challenges of C-suite employment in the 21st century. These programs leverage technology and big data to equip candidates to meet the demands of consumers and business clients who demand timely and accurate financial decisions.
Such programs feature entrepreneurship labs that utilize tools such as continuous monitoring to allow financial professionals to detect before they cause irreparable damage. MBA programs that leverage technology and big data equip candidates to handle the demands of consumers and business clients who demand thoughtful, timely and accurate financial decisions.
Going to the Head of the Class with Big Data
Today’s MBA programs involve much more than number crunching. Technology and big data have transformed old-school curricula to meet the demands of candidates. In areas such as data analysis, entrepreneurial labs and financial reporting, big data and data analysis equip candidates to take on the challenges of 21st-century business.
DataTree's University Data Hub can help your schools MBA program provide students with the tools they need in their executive or entrepreneurial careers. Our tools allow students and faculty members to access huge amounts of real estate data, sort the data and analyze the data for inclusion in customized research reports. To learn more, check out our Education page and request more information.