Haworth College of Business students speak about what’s on their minds. As you will see, data analytics and technology are central in how they are preparing for their professions. Trust, client service, diversity and inclusion, inspiration, globalization, pay equity and lifelong learning are major themes in what these six students anticipate the future holds.
Inspiration starts here
“Changes in the field of management can start slow until new practices take root, bringing a revolutionary burst of change. A recent trend within management is acknowledging the many styles, methodologies and techniques that managers can use to lead. However, the true mark of a good manager is the ability to inspire. Leadership through inspiration is central to every successful manager. Inspiration, coupled with sound strategic reasoning, creates managers who are ready to tackle today’s toughest problems and motivate their teams to do so as well. Inspiring others is a difficult task. For a great leader, this means leading by example and finding enjoyment in solving challenging problems. Leaders who stay longer, work harder and exude strategic reasoning will inspire those they surround themselves with to do the same and in turn, shape industry.”
Program: Business analytics
An analytical toolkit
“All industries are recognizing the importance of analytics as a tool to make decisions that will increase customer retention and profits. One trend that will have an impact in the coming years is the advancement of artificial intelligence. Many factories utilize automation and robots for cost savings, and this trend is now affecting all areas of business, particularly areas where analysis is involved. Although this can be a threat to many industries, in the field of business analytics, this trend presents an opportunity. When you combine artificial intelligence and analytics, you open a new world of opportunities, making it possible to link complex data sets together and gain insights into customers. This insight helps businesses grow. Business analytics is the future of how we will work in nearly every industry.”
Khalid "Kobe" Fayssa
Program: Integrated supply management
The next big opportunity
“I have been closely following data analytics and data manipulation along with the many factors surrounding it. Data and analytical solutions are the driving force behind today’s supply chain industry. With new software able to handle millions upon millions of rows of information, a company’s next big opportunity is waiting to be pulled from a database. A large challenge that stands in the way of analytical work is finding individuals who are able to analyze and understand how to pull the solutions that are waiting in the data. In many cases, it can be challenging to create a successful set of steps to get the exact information you are looking for. That is why it is more important than ever to have the right people with the right skills to get the job done.”
Program: Advertising and promotion
Get with the program
“The rise of programmatic advertising has been a very hot topic. Programmatic advertising includes real-time bidding and artificial intelligence to automate ad buying so that advertisers can target specific audiences. This technology is used not only for retargeting, but also for general real-time buying and selling of online ads and ad space. These advertisers only have about 100 milliseconds to make an ad effective for a person from the moment the host receives a bid request. With programmatic advertising, you are paying for a particular ad view. Initially, programmatic advertising can be a huge challenge to take on; the planning and implementation consumes a lot of time and labor, but in the end, programmatic advertising operates as the bridge that connects the right audience to the content with which they are most likely to engage. Evolving technology will help advertising and marketing teams strategically place the right ad in front of the right person at the right time.
Program: Personal financial planning
Finance, fees and robo-advisors
“Financial planning has a history of commission-based models where specific products could earn the planner a commission. This method of financial planning often did not provide the best option to the client. Now, the industry is embracing a fee-based model, where a planner will charge a small percentage of the client’s assets or a flat fee in exchange for services. This shift ties planner compensation to how well clients’ portfolios do, leading to better outcomes for clients. Another trend to watch is the development of ‘robo-advisors,’ which use websites or apps that ask questions about your financial picture and then recommend a list of investments to you. Robo-advisors are targeted to young people. I believe that when it comes to money, people want to trust a person, not a computer. However, these services encourage planners to be more technologically savvy and provide options like apps or user-friendly websites that the younger generations are looking for.
Program: Master of Science in Accountancy
Analytics and accounting
“Analytics is a trend affecting all fields. In accounting, CPA firms are beginning to put a heavy emphasis on the use of analytics. They have invested in the future of analytics by training their employees in the latest data analytics software. Looking at it from an audit perspective, analytics will help enhance and improve the quality, transparency and overall accuracy of audits. Companies’ business functions have become more complex, and with the use of data analytics, auditors will be able to focus on risk and gain deeper insights into the company’s core functions. I know my experience in courses that teach students more about data analytics in accounting will prove vital when I enter my profession.”