New directions; Spears Business introduces new degree programs

Media Contact: Stephen Howard | Director of Marketing & Communications | 405.744.4363 | stephen.howard@okstate.edu

As the business world changes, the Spears School of Business is expanding its curriculum to fit industry needs.

The Department of Management Science and Information Systems now offers a data analytics major, building on a long tradition of innovation in this field. The School of Hospitality and Tourism Management, Department of Finance and Department of Economics are teaming up to administer a degree in real estate and property management, an expansion of a certificate program that continues to be offered.

Engage Magazine turned to the experts to learn more about these new majors.

Dr. Rick Wilson

Data Analytics with Dr. Rick Wilson, head of the Management Science and Information Systems department, W. Paul Miller Professor of Business Administration.

Why was it important for Spears Business to add this major?

The Spears School of Business has a long history with the predecessor fields of data analytics, such as management science and applied artificial intelligence. All of Spears, whether marketing, accounting or information systems, is incorporating data analytics in their classes as all fields use the data analytics skills now and their importance will only increase in the future.

We recognized the importance of having a data analytics focus over a decade ago when we added a data science option within the MIS major. The next logical step was creating our cross-disciplinary data analytics standalone major. Using U.S. Bureau of Labor Statistics data, the typical starting occupations for graduates, data engineering and data analyst job titles, remain among the top 10 fastest-growing occupations requiring a college degree. As has always been the case, Spears and the MSIS Department are ahead of the game in delivering relevant, state-of-the-art programs.

What types of careers are possible with a data analytics degree?

The data analyst analyzes data to identify trends, patterns and insights. Typical tasks include extracting, transforming and loading data; conducting statistical analysis; and creating visualizations. They possess good problem-solving skills, knowledge of statistical and AI-based methods, a detailed understanding of data visualization tools and strong communication skills as they tell stories with data.

A data engineer focuses on the data infrastructure, ensuring data quality and reliability and securing the data storage systems. We might think of them, using Cowboy terms, as a data wrangler, and they will typically have strong SQL and Python programming skills, knowledge of databases and experience with cloud computing platforms. Overall, they help make organizational data accessible and usable.

Finally, a data scientist is a person who embodies not only the skill set the data analysts and data engineers possess but also has a deeper understanding of the many sophisticated tools that are used in practice today. This includes advanced machine learning, classic optimization, neural computing and other rapidly evolving tools. Often, a data scientist would have an advanced degree (which we also have in Spears, the MS in business analytics and data science).

What are some of the course topics specific to this major?

Key to the data side of the major will be learning Python, mastering database design and SQL and then having an exposure to many different data manipulation tools in our Data Wrangling class.

A data analytics student will build on their core Spears classes with the different categories of analytics courses — descriptive analytics, advanced visualization skills, predictive analytics, which includes machine learning and other AI-based approaches, and then prescriptive analytics, where the student is exposed to optimization techniques applicable to all businesses.

Students can also take analytics courses in other areas throughout Spears (HR analytics, sports analytics, marketing analytics) and throughout OSU. Finally, all data analytics majors are expected to have hands-on analytics experience, which might be a summer internship or the applied company projects (for credit) that we uniquely offer every semester.

How does a data analytics degree prepare students for the future of business?

Our degree is designed based on detailed input from our Industry Advisory Board and other employers who hire our graduates. We focus on understanding the important concepts of analytics and data engineering, realizing tools change rapidly, and the most important skill is knowing how to problem solve and communicate results.

The jobs our incoming freshmen will have in 10 years may not yet be invented — but we do know understanding data, analytics, AI and information technology will be a key part of many such positions. Our graduates will be ready to become the next generation of chief data officers or chief information officers.

Dr. Brij Thapa

Real estatate and property management with Dr. Brij Thapa, professor and head of the School of Hospitality and Tourism Management, Carl and Marilynn Thoma Distinguished Chair.

Why was it important for Spears Business to add this major?

Real estate, rental and leasing is a major industry sector that has experienced significant expansion in the United States and globally. While the growth in hard infrastructure is noteworthy, there is also a concurrent need to further develop the soft infrastructure to manage and sustain growth. The demand for employees is evident as the U.S. Bureau of Labor Statistics reports a projected increase in positions. This projected growth of this industry, documented by the demand for skilled professionals, supports the need for this degree. This degree will be a first of its kind in the state, especially housed in a business school, as similar programs are not widely offered at major U.S. academic institutions. This offers a unique opportunity for students to pursue a career choice in the real estate, rental and leasing industry sector.

What types of careers are possible with a real estate and property management degree?

Career opportunities are available in multiple areas, especially in the residential and commercial sectors, such as property managers, real estate managers and community association managers. The U.S. Department of Labor denotes that the following job titles are prominent: property manager, real estate manager, resident manager, apartment manager, community association manager, community manager, lease administration supervisor, leasing manager, asset manager, corporate real estate manager, director and on-site manager.

How are HTM, Finance and Economics working together to offer this degree?

The specific focus is to ensure the development of skills needed to manage and maintain real estate properties and assets owned by others in residential, commercial, industrial and other business segments in a profitable manner. Successful property and real estate managers have a diverse set of skills with fundamental core competencies that relate to the following but are not limited to — customer service, sales and leasing, accounting, finance, legal, real estate management, marketing analytics, facilities management and human resource management. In addition, soft skills are also paramount to ensure effective communication, conflict resolution, customer experience and relationship management.

The degree is conceptualized within the foundation of the business core, along with specialty courses that pertain to key competencies. The structural framework of the degree is designed to ensure students gain competency in industry knowledge, develop intellectual abilities and foster technical, interpersonal and professional skills. More specifically, key areas of responsibilities are emphasized, such as managing the physical property, team management, finances, marketing and leasing, and legal and risk management.

How has donor support impacted this program’s development?

The impetus for the initial certificate program was due to the dire need for skilled employees within this industry sector, as noted by Weidner Property Management, LLC. This company is based in Seattle and has a national footprint, along with current investments in the region — Oklahoma, Arkansas, Texas and Arizona. The company provided a major financial gift to HTM for the initiation of an academic program. A significant portion of the gift allowed for disbursement toward internship-based scholarships and for students in the certificate program. Placement opportunities have been provided by Weidner Property Management.

The success of the certificate propelled momentum in the natural expansion toward a bachelor’s degree program. Spears Business is well-positioned to champion this degree program and link within the various units based on built-in academic resources related to the existing certificate.

Story by: Hallie Hart | Engage@Spears magazine

Photos by: Gary Lawson and Adam Luther