Business Analytics Major Guide for 2011-2012

What is Business Analytics

An important application of statistics is business analytics, which is the use of data analysis and modeling to help businesses achieve better performance. For example, in order to know how to improve business performance, a retailer may need to objectively compare the performance of several different retail outlets. An online marketer may need to set up experiments to test the effectiveness of different website layouts. An insurance company may need to analyze its claims to identify those most likely to be fraudulent. A grocery chain may wish to analyze its customer records to determine how to use coupons to increase the loyalty of its customers and to increase the amount each customer spends.

Career Opportunities in Business Analytics

Statistics is used in various areas of business, industry, science, and government. The fields of opportunity for statisticians are numerous and include economics, finance, market research, e-commerce, engineering, manufacturing, transportation, education, medicine, psychology, agriculture, and computer and social sciences.

Salary Trends in Business Analytics

For salary information by occupation in the U.S. or for individual states, visit the Bureau of Labor Statistics’ National Compensation Survey website.

High School Preparation

High school students should follow a college preparatory curriculum and take their high school’s recommended courses in Math, English, and Foreign Language. Appropriate electives include any business courses, as well as courses in computer software applications and written and oral communication. The College of Business Administration further encourages all high school students to 1) explore international business issues and opportunities, 2) participate in student organizations and clubs, and 3) volunteer in their community.

How to Major in Business Analytics

Freshmen are admitted directly to the College of Business Administration in the first year. Admission to the university is highly competitive and based primarily on academic achievement at the high school level and scores on the ACT and/or SAT.

Students admitted into the College of Business Administration must maintain a minimum 2.50 cumulative grade point average and earn a grade of C or better in the following tracking courses (or honors equivalents) prior to the completion of 75 hours.

  • Mathematics 123-125 or 141-142 (6 or 8 hours);
  • Written Communication (3 hours from English 255 or 295);
  • Oral Communication (3 hours from Communication Studies 210 or 240);
  • Accounting 200 (3 hours);
  • Economics 201 (4 hours);
  • Statistics 201 (3 hours);
  • Management 201 (3 hours)

Requirements for Business Analytics

All majors in the College of Business Administration are required to take a total of 120 hours to graduate: 59 hours of general education courses, 15 hours of pre-business core courses, 22 hours of business core courses, and 24 hours of courses in the major. 18 of the 24 hours of major coursework must be taken in residence at the University of Tennessee. A minimum grade of C must be earned in every course counted towards the major. When students are admitted to a major in the college, they are required to have a laptop computer.

Special Programs, Co-ops, and Internships

Global Leadership Scholars
The Global Leadership Scholars (GLS) program offered by the College of Business Administration promotes the development of international and intercultural awareness, leadership, and personal and professional growth and responsibility. Through honors classes, seminars in leadership training, international experiences, and extracurricular activities, GLS students work together and with honors faculty to develop the skills necessary to become future international business leaders. Applications are accepted from first-year students in their second semester.

Internships
Students are encouraged to gain practical experience through an internship or other supervised experience in the application of statistical principles and methods in business, industry, or government. Students may earn academic credit for their internships through enrollment in Statistics 492.

Stats Club
The Stats Club provides exposure to the use of statistics in industry and government by former graduate and undergraduate students at UT. Companies and governmental agencies also give presentations and provide networking opportunities for internships and jobs.

Highlights of Business Analytics

Within the 24 hours of their major, students may study two areas of emphasis: their major with a collateral or their major with a dual concentration. With a collateral, students complete 18 hours in their major and 6 hours in their collateral area. With a dual concentration, students complete 12 hours in each area of emphasis. The statistics major offers collateral areas of study in finance, information management, logistics, and marketing. Dual concentration options are offered with information management, international business, logistics, and marketing.

Ready for the World logoReady for the World

Seeking to instill a global perspective in all of its students, the College of Business Administration challenges undergraduates to develop the requisite knowledge and skills to prosper in today’s global business environment. To help students meet that challenge, the college provides these critical tools: an enhanced core curriculum that covers international business topics in all relevant courses; extraordinary programs for international study and internships; and a unique opportunity to delve into the principles of international business through a collateral or concentration in international business.

The college requires all students pursuing a collateral or dual concentration in international business to have an international educational experience. Coursework in the international business collateral or dual concentration may be completed through a study abroad program.

Learn more about UT’s Ready for the World initiative to help students gain the international and intercultural knowledge they need to succeed in today’s world.

Sample Curriculum

Collateral Option
Freshman Year Credit Hours
Written Communication: English 101, 102 6
Quantitative Reasoning: Math 123-125 or 141-142 6 or 8
Cultures and Civilizations: Intermediate Foreign Language 6
Natural Sciences 6 – 8
Social Sciences 3
Oral Communication: Communication Studies 210 or 240 3
Critical Courses: English 101 and 102, Math 125 or 141, Communication Studies 210 or 240
Sophomore Year Credit Hours
Accounting 200 3
Social Sciences: Economics 201 4
Written Communication: English 255 or 295 3
Statistics 201 3
Management 201 3
Business Administration 242 2
Arts and Humanities 6
Electives 6
Critical Courses: Accounting 200, Economics 201, English 255 or 295, Math 123 or 142, Statistics 201, Management 201, Business Administration 242
Junior Year Credit Hours
Business Administration 331-332 4
Business Administration 341-342 4
Ethics: Philosophy 244 or 252 3
Finance 301 3
Statistics 320 3
Business Administration 353 3
Business Administration 361 3*
*Business Analytics Elective 3
Statistics 471 3
Critical Courses: Business Administration 331, Business Administration 341, Finance 301, Statistics 320, Business Administration 353
Senior Year Credit Hours
Business Law 301 2
Statistics 474 3
Statistics 475 or 477 3
*Business Analytics Elective 3
Collateral 6
Management 402 3
Electives 7-11
Critical Courses: Business Law 301, Management 402, Statistics 474
GRAND TOTAL 120


*Any two courses chosen from Information Management 341, Operations and Management Science 331, or Statistics 340

Business Analytics Collateral Options
Finance – FIN 425; and one of FIN 435, 455, 475, or 485 (all finance courses have a prerequisite of Accounting 301)
Information Management – IM 342 (IM 341 prerequisite); IM 442 or 443 (IM 341 prerequisite)
Logistics – LOG 310; LOG 411
Marketing – MKT 340; MKT 350

Dual Concentration Option
Freshman Year Credit Hours
Written Communication: English 101, 102 6
Quantitative Reasoning: Math 123-125 or 141-142 6 or 8
Cultures and Civilizations: Intermediate Foreign Language 6
Natural Sciences 6 – 8
Social Sciences 3
Oral Communication: Communication Studies 210 or 240 3
Critical Courses: English 101 and 102, Math 125 or 141, Communication Studies 210 or 240
Sophomore Year Credit Hours
Accounting 200 3
Social Sciences: Economics 201 4
Written Communication: English 255 or 295 3
Statistics 201 3
Management 201 3
Business Administration 242 2
Arts and Humanities 6
Electives 6
Critical Courses: Accounting 200, Economics 201, English 255 or 295, Math 123 or 142, Statistics 201, Management 201, Business Administration 242
Junior Year Credit Hours
Business Administration 331-332 4
Business Administration 341-342 4
Ethics: Philosophy 244 or 252 3
Finance 301 3
Concentration 6
Business Administration 353 3
Business Administration 361 3
Statistics 320 3
Critical Courses: Business Administration 331, Business Administration 341, Finance 301, Statistics 320, Business Administration 353
Senior Year Credit Hours
Business Law 301 2
Concentration 6
Statistics 340 or 475 or OMS 331 3
Statistics 471 3
Statistics 474 3
Management 402 3
Electives 7-11
Critical Courses: Business Law 301, Management 402, Statistics 471
GRAND TOTAL 12


Business Analytics Dual Concentration Options

Information Management – IM 341; IM 342; IM 442; IM 443
*International Business – Four courses from: IB 409, 429, 439, 449, 459, 469, 492, BUAD 400, or MGT 472; and IB 489
Logistics – LOG 310; LOG 411; LOG 413 or 421; LOG 460
Marketing – MKT 340; MKT 350; MKT 360; MKT 460

*Twelve hours chosen from: International Business 409, 429, 439, 449, 459, 469, 492, Business Administration 400, or Management 472

For More Information

College of Business Administration
Undergraduate Programs
342 Haslam Business Building
Knoxville, TN 37996
Phone: (865) 974-5096
Fax: (865) 974-6106
Email: busad@tennessee.edu

Note

The information on this page should be considered general information only. For more specific information on this and other programs refer to the UT catalog or contact the department and/or college directly.