Econometrics and Business Statistics
Data is the new oil. However, raw data is not useful on its own. Analytics transforms and creates value from raw data. With the advent of the Fourth Industrial Revolution, data has become ubiquitous and the need to make sense of data becomes ever more important and urgent. As mentioned by Peter Sondergaard: “Information is the oil of the 21st century, and analytics is the combustion engine”.
The Department of Econometrics and Business Statistics offers two majors in the Bachelor of Business and Commerce program offered by the School of Business: (i) Econometrics and Business Statistics and (ii) Business Analytics. Through its engagement with alumni and industry partners, the Department is committed to ensuring the currency and relevance of our curriculum. The well-trained graduate in either of our majors will be equipped with broad-ranging quantitative skill sets that they can readily apply in the real world across multiple disciplines. As aptly described by John Tukey: “The best thing about a statistician is that you get to play in everyone’s backyard”.
Data analytics is at the core of what we do as a Department. As such, the Department’s research focus areas are centred on Data Fluency and Evidence-based Transformative Action. Through our ability to be fluent with data, we apply a range of quantitative methodologies that focuses on diverse research issues, formulating data insights to inform, guide and explain policy that will bring about transformative actions. Some of our research strengths are in the areas of:
- Behavioural modelling
- Housing affordability
- Volatility forecasting
- Big data analytics
Finally, the Department also provides data training and consultancy services to our industry partners.