On October 3, 2018, the UM launched a new degree in Data Science for Businesses. It is the first undergraduate degree in Uruguay with this type of specialization, and is unique in the sense that it combined the efforts of the School of Engineering and the School of Business and Economics at the UM. The degree is based on the importance of knowing how to read and process information in order to make decisions. This way, the Universidad de Montevideo offers a new degree which confides in the vision of Uruguay as a referent in using and taking advantage of Big Data in the region.
The presentation took place on Floor 40 of Montevideo´s World Trade Center. A panel of experts talked about the importance of applying data science into marketing, sports and finances after UM Rector Juan Manuel Gutiérrez gave an opening speech. The event was attended by businessmen, journalists, representatives of different organizations, ambassadors, and authorities.
The aim of this new degree, which will start at the UM in 2019, consists in forming professionals who are capable of analysing trends and developing valuable solutions. This will allow graduates to take efficient decisions and trace strategic lines in problem solving and confrontation.
According to a Forbes article from January 2018, titled “The Best Jobs to Apply” a data scientist is located in the number one position of the best types of jobs to apply for, according to three main factors: income potential, hiring demand and work satisfaction. At the same time, a McKinsey Global Institute report titled Big Data: The next frontier for innovation, competition and productivity, indicates that the accumulation of data in all the industries has grown vertiginously, and generates a great potential of enormous influence. The professional in Data Science will be the one who generates value by creating transparent and utilizable information in greater frequencies.
“Traditionally, decisions made in a business are based more on intuition and experience than around data analysis. Today, that is changing,” explained Msc. Eng. Máximo Gurméndez, academy director for the new degree at the UM, and added “Nowadays we use systems that make decisions by using models…there is a great opportunity for those analytic and technological profiles who would follow degrees of engineering and economy but that, in reality, they search to increase their analytical capability in order to overcome important challenges in the business context.”