In an increasingly data driven world, MSc Business Analytics courses have become an extremely popular choice for international students attending UK universities.
Work-based learning is crucial for these courses, and as more universities incorporate it, there are several factors to consider when embedding these opportunities into the curriculum.
In the second edition of IC Insights, we’ll dive into some of the common challenges universities may face when coordinating internships and projects in their Business Analytics curriculum.
5 Common Challenges for Universities in Organizing Business Analytics Internships and Projects
Insufficient Host Company data
One of the most common challenges encountered in Business Analytics internships and projects is the lack of data for the student’s project. From the company’s perspective, what may seem like a large quantity of data might not be sufficient for a thorough analysis by the student.
Misaligned Expectations
Host Companies may not be fully aware of the specific capabilities and skills of business analytics students. This can result in unrealistic expectations or projects that don’t align with the academic topics covered in the course, leading to a mismatch between what the employer expects and what the students can actually deliver.
Difficulty Integrating with Systems
Often, students have to navigate unfamiliar software used by host companies in their business operations. This can hinder the students progress and may require them to spend time learning a new software instead of gaining practical experience.
Data Sharing Reluctance
Many companies are often reluctant to provide access to their data due to privacy concerns or regulations. This hesitation or withholding of data can impact the quality of the students’ analysis and the project as a whole.
Incorrect Data Format and Structure
Sometimes, host companies may provide students with data in formats that don’t align with the internship and project’s requirements. This causes students to spend a majority of their project time converting it into the right format instead of analysing it, resulting in a less fulfilling experience.
To address these challenges, universities can take practical steps to ensure a smooth experience for students. Here are some of the most effective tips for embedding Business Analytics internships and projects within academic degrees.
Effective Tips for Coordinating Business Analytics Internships and Projects
Request Sample Data
To reduce the risk of incorrect data quantity or format, request host companies to quantify their data in advance and provide a sample. This allows both the students and host company to assess the data in advance and address any potential issues before the project begins.
Clear Expectations Upfront
Before the project starts, clearly outline to the host company the requirements from an academic perspective, the student’s capabilities and what they can deliver. Additionally detailing specific tasks and deliverables helps set clear expectations for the host company on what the student will deliver.
Address Data Sharing Concerns
To prevent hesitation from companies about sharing data, ensure that students sign Non-Disclosure Agreements (NDAs) with employers. By making this a requirement on both sides, this eases concerns and reduces risks.
Individual Assessment Approach
Organise the internships or projects in an individually assessed format to maximise student learning and skill development. This structure can also be implemented with a small group working with the same company but conducting their own analyses, or through a hackathon where a large number of students analyse a single company’s data.
Prioritise D2C Companies
When selecting host companies to work with students on these initiatives, prioritise Direct-to-Consumer companies such as apps and e-commerce websites over Business to Business companies. This is because D2C companies often offer simpler data structures and fewer complexities.
Consider an External partner
Given the complexities involved when organising Business Analytics work-based learning initiatives, consider partnering with an experienced provider. This approach ensures students get the most value from their projects and provides additional support for the university’s team.
In the past two years, Impact Consulting has organised Business Analytics projects and internships for over 250 students from universities such as Durham, Stirling and Aston. These projects and internships involved students working with exciting companies to derive actionable insights and drive data-focused decision-making.
If you’re interested in having Impact Consulting support your university’s Business Analytics work-based learning initiatives, please contact us through our website.
