Data science uses methods and techniques from statistics and machine learning to generate knowledge in a world of big data. It allows economists and managers to answer questions like how to predict a company’s future sales or how to measure the impact of social media on happiness. The specialisation in “Applied Data Science” helps you acquire the skills to answer these questions and to do applied work in the field of data science. On the one hand, you will learn how to tackle causal questions in a rather traditional statistical framework. On the other hand, you will study recent machine learning techniques with a strong focus on predictions. This skill set allows you to work at the interface between data scientists and people with a more traditional training in economics and management science.
The introductory courses in this specialisation teach students the data science toolkit (server computing, github etc.), data handling in R and Python, database management, and computer programming. These courses are the technical foundation for the courses in machine learning as well as the more traditional courses in causal analysis and microeconometrics. Finally, there are courses on the application of data science methods in different fields of economics and management science. Most courses are hands-on with an applied perspective and include tutorial sessions. Students will also be able to deepen their understanding while working on their own projects in seminars offered in this specialisation.
Topics and example courses
- Toolkits and Architectures
- Introduction to Programming
- Data handling in R and Python
- Database management
Traditional statistical Methods
- Quantitative Methods (logit/probit, survival analysis etc.)
- Forecasting in economics and management
- Supervised machine learning
- Unsupervised machine learning
- Deep learning
- Causal machine learning
Applications in Economics and Management
- Data visualization
- AI and machine learning in management and marketing
- Machine learning in economics
- Data analytics in health sciences
Graduates of the specialisation in “Applied Data Science” have access to various positions in the field of data analytics, including consulting firms, large enterprises, start-up companies, governmental agencies like the SECO or statistical offices, and market research firms. The solid understanding of concepts in economics and management science combined with the technical knowledge of this specialisation opens the door to work at the interface between data scientists and people with a more traditional training.
The Future of Jobs Report of the World Economic Forum lists the job profile "Data Analysts and Scientists" as the number one of the "Top 10 Emerging" jobs for the year 2022. Data science is also considered very important by the Swiss Federal Administration: The Federal Statistical Office is creating a national competence centre for data science at the beginning of 2021.