Technology and Business have always been two parallel paths, both extremely intricate, co-existent yet entirely different. Early enough we are forced to make a choice as to which aspect we want to dwell deep into. But straight into the corporate world, there’s a stark realisation that both are extremely crucial to have an edge and a better understanding. Data Analytics has been a growing field today and added with business and management skills, it’s a straight – up smart way to the top. The two most prestigious institutes, IIT Indore and IIM Indore have jointly launched a two year online degree program – ‘Master Of Science in Data Science and Management’ which is everything you’ll need to be an active part of solving huge business problems. Whether you’re a student or someone already working professionally, this course’s curriculum includes a holistic knowledge on people, data, enterprise strategy and technology. It will help you expand your horizons in technology in sync with the business environments. This program won’t just impart the know – how of the tools and techniques but also focus on the real world business application. It’s a highly flexible online program with no restricted timings and just majorly on the weekends. The program aims to bring in a comprehensive structure of knowledge and practicality.
Below are a few questions regarding this program that have been answered by the program coordinators of IIM Indore and IIT Indore.
- Considering the joint program by 2 most renowned Institutes, how was your experience while working together for ‘Master of Science in Data Science and Management’?
A collaboration between IIM Indore and IIT Indore was contemplated for a long time. In September 2020, an MoU was signed between the two institutes to share our resources and work towards joint research programmes. This academic year the two institutes decided to launch the joint programme ‘Master of Science programme in Data Science and Management’.
This is a unique master’s programme that covers data, technology, people and enterprise strategy, which are the four pillars of the programme. From the start, it became clear that there are enormous synergies. For me, it was a pleasure working with a joint committee that consists of faculty members from both the institutes. Everyone in this committee is quite excited about the programme, and it has opened doors for future research collaboration among IIMI and IITI faculty.
- What role does each institute plays in the curriculum?
The two marquee institutes jointly offer the programme, and the curriculum consists of basic to advanced courses, which will be offered by the expert faculties of both IIM Indore and IIT Indore.
In the fourth and fifth trimester, participants will be offered a pool of electives to choose from the advanced courses offered by the two Institutes. In the sixth trimester, participants will also be a part of the project work and will be working under the direction of expert faculty from both the Institutes.
- Why there is a need for this programme and what made you create this programme?
Business problems need to be jointly addressed by managers and data analysts. Decisions based on analytics need to be made by managers, which they can do only if they understand the data science tools and techniques. Generally, the programmes offered in this domain have focused more on specific tools and techniques, while the business context in which these tools have been applied has received less attention. Hence, a comprehensive programme focusing on business knowledge along with technical expertise is needed.
This programme, jointly offered by IIT Indore and IIM Indore will provide comprehensive knowledge to future data scientists. It will cover general concepts on algorithms, data structures, big data infrastructure, big data analytics life cycle, data security and management, contemporary management thoughts, including behavioural elements.
- ‘Master of Science in Data Science and Management’ by IIM Indore and IIT Indore is ideal for whom and why?
The ‘Master of Science in Data Science and Management’ programme is ideal for both graduates and working professionals.
This joint programme is holistic and comprehensive and will enhance graduates and professionals’ skill sets and employability. The timing of the classes will be feasible for both graduates and working professionals on weekdays and weekend (Saturday).
- How is data science and management different?
Managers and not analysts own business problems. Decisions based on analytics need to be made by managers, which they can do only if they understand the data science tools and techniques. Generally, the ‘data science’ programmes focus on specific tools and techniques. The application of these tools and technology in business coverage is limited in those programmes. In this programme, the emphasis will be on a good understanding of the business problem along with appropriate tools that can be used to solve such problems.
- Has there been any other programme offered in past or is this one of its kind?
This is the new initiative by both IIM Indore and IIT Indore. This will be the first batch of this programme commencing from March 2022.
- What are the opportunities for someone who takes up a ‘Master of Science in Data Science and Management’?
The opportunities for the Data Science and Management graduates will be enormous. The programme will help an individual grow in the technical fields and improve their understanding of the business environment.
The industries are looking for trained resources. There is a perceivable large gap between the number of opportunities and the trained resources. Hence, a comprehensive programme focusing on business knowledge and technical expertise is needed.
- Is there any impact (positive or negative) on the future opportunities and scope for Data Science and Management due to pandemic?
The way businesses are evolving, the skills that will be imparted in this programme will be more relevant in the post-pandemic world. Furthermore, data science professionals have been working remotely in many organizations. Though we all want things to go back to pre-pandemic days, some organizational changes are irreversible.
This programme is an ideal platform to get expertise in data science and management. For the first batch, classes would be online, barring 30 days of on-campus modules. Fifteen days of that module will be at IIM Indore during summer 2023 and the other 15 days at IIT Indore during winter 2023.
- What will be the selection criteria and what preparation a candidate shall do for the selection?
The eligibility criteria of the programme are as follows:
First class (as defined by the awarding Institute/ University) or 60% or 6.0 CPI /6.0 CGPA (Scale of 10) [Relaxation for the SC/ ST/ PwD category as per Government of India rule] degree in
BTech/ BE/ BS/ BPharm/ BArch/ BDes/ Four years BSc/ MSc/ MCA/ MBA
Equivalent with having done at least two courses in Mathematics and one in Computer Programming at qualifying degree level.
CAT/GATE/GMAT/GRE/JAM test score obtained anytime in the last three years.
After qualifying the above eligibility criteria, the candidates will be called for the interview, and the final selection will be based on the candidate’s performance in the interview.
- Will there be college placements after the completion of degree?
There is no placement support offered from both the Institutes for this programme. However, students are encouraged to get in touch with external support to facilitate future growth options.