Students can specialise and choose one of three main subjects: Data Analytics - Finance - Operations Management
The discipline Data Analytics mainly emphasises ‘Business Intelligence’ and refers to the analysis of business data to uncover hidden patterns, unknown correlations and other useful information that can be used to make better business decisions. McKinsey and Gartner claim that there is an enormous shortage of graduates in this field. Due to the more quantitative schooling of business engineers, emphasis is placed on price-fixing, analytical customer management systems (analytical Customer Relationship Management = aCRM), predictive and prescriptive analytics as well as more recent evolutions in Big Data, social media and web analysis.
The discipline Finance analyses the financial decisions of enterprises, as well as of investment managers who decide to invest in shares or derived financial instruments. The quantitative background of business engineers enables them to draw up complex financial models, for example with regard to risk management in enterprises, the planning of financial requirements, optimal investment portfolios, etc.
The discipline of Operations Management is an area of management concerned with overseeing, designing, and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of resource use, and effective in terms of meeting customer requirements. It is concerned with managing the process that converts inputs (raw materials, labor and energy) into outputs (goods and/or services). Important business concepts concerning Project Management, Total Quality Management, Production and Supply Chain Management will be highlighted from various angles and perspectives.
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Their job deals with managing production processes and services, with analytical and quantitative tasks to improve its overall efficiency. As a bridge builder between business economists and engineers, they are able to optimise the decision making process at various levels of the company, ranging from operational decisions on the work floor to strategic decisions at the top level of the company. As an economic agent, they are familiar with the company processes in order to perform cost price calculations, but as an engineer they also have a much wider overview on the company’s logistic processes and their potential for improvements. With their essential knowledge of the latest technologies and their strong background in business analytics, business engineers rely on the state-of-the-art ICT concepts to optimise the business processes. This essential skill is embedded in almost every course of Business Engineering curriculum and will be key to today’s modern international business strategy. Some examples of jobs in which Business Engineering graduates start: production manager, logistics director, production planning expert, business consultant, business analyst, process engineer, research & development manager and customer relationship manager.