Consumer industries are amassing huge data sets, highlighting the importance of choosing the right analytical models to help make commercial decisions.
Analysing data is a straightforward matter for statisticians or engineers, but not for many executives. As a result there is demand for more commercially savvy IT professionals, known as data scientists, and business schools are responding to this call.
Imperial College London recently announced a research partnership with Chinese telecoms company Huawei in July. Backed by the UK government, academic and business experts will work together to develop technologies that utilise “big data” – the term used to describe masses of information harvested from commercial activities, social media and other sources.