The Importance of Data for German Business Professionals
In the digital age, business practices need to continuously evolve in innovative, technologically-integrative ways to stay relevant. This is particularly true for Germany, a country in which creative start-ups and tech-progressive industries have flourished.
The use of data to influence decision-making is crucial. Data is omnipresent in our world and is increasingly relied upon to justify decision-making at all levels. Enrolling in a graduate business program in Germany can give you the skills you need to be proficient at analyzing and actioning data.
Data’s role in modern businesses
It can be said that the foundation of the modern economy is data. Knowing how to gather data and transform it into actionable insights is key to succeeding at business endeavors in the digital age. Data surrounding the demographics of service users, the pathways they take when navigating services, and how they make purchasing decisions can be used to make businesses more efficient and effective.
However, it takes a specific skill set to transform raw data into actionable insights. Business professionals adept at analyzing data will have a combination of technical skills, strategic thinking, and business acumen. Because advances in technology have led to greater data-capturing tools, information about client engagement and business operations can now be captured in fine detail.
The production of massive volumes of data is sometimes referred to as Big Data. Graduates with business degrees can use Big Data to uncover trends and patterns underlying the information and use them to generate quick answers to business-related questions, act on opportunities for cross-selling and up-selling, and streamline business operations.
Want to learn more about how technology is being used to expand business potential? Read about how business students are using artificial Intelligence
Business degrees in Germany that focus on data analysis
A business education in Germany can help prepare aspiring professionals engage with the Big Data environment of the modern world. After taking the GMAT exam in Germany, b-school candidates are ready for an education at one of Germany’s finest business schools.
EBS Business School offers an MBA program that educates students in the fundamental tools of business analytics and research methods. ESMT Berlin’s MBA program offers a special focus in managing Big Data, innovation, and technology—which are intertwine in important ways. One specialized track available in the program is managerial analytics, in which students can take courses in data science and marketing analytics.
At the Frankfurt School of Finance and Management, modules within its MBA program engage with managerial data science and provide students with the skills necessary to perform analytic and data-driven operations. Students can also take their GMAT scores to the Otto Beisheim School of Management, where they can enroll in a Master in Management and learn about actionable customer analytics, managing data science, and operations analysis.
Germany’s specific data landscape
The European Union in general, and Germany in particular, have very stringent data protection regulations. In Germany, 16 different entities oversee the data protection and collection practices of private companies. Research has also shown that Germans are, on average, willing to pay more than citizens of other countries to ensure that their private data is safe and secure. All of this influences how business professionals choose to engage with data in Germany.
The rigorousness of German data regulations creates an environment where professionals who know how to engage with data effectively have an edge over the competition. Attending a leading German business institution to learn about the specificities of the German data landscape enables graduates to successfully interact with data in safe ways. Integrity and transparency are necessary.
Moving forward, the country understands that upgrading its data collection practices is necessary for German industries to compete on an international level. Political leaders like Angela Merkel have agreed that the use of Big Data is crucial for the future of Germany’s economy. This puts business professionals trained in data analytics in a prime position.
Begin a successful business career by taking the MBA entrance in Germany
If you’re looking to improve your understanding of data and advance your career, the right business education can make all the difference. Use our Program Finder to find the option best suited to your needs and ambitions.