The Commission on Higher Education (CHED) and IBM have announced that specialization tracks on Business Analytics for Information Technology Education (ITE) and the Bachelor of Science in Business Administration (BSBA) Programs are ready for implementation this coming school year 2013-14.
The CHED Memorandum Orders were passed and co-developed in collaboration with IBM, taking into consideration the paradigm shift and growing demands of the local and international business landscapes, and are geared towards helping transform the Philippines to become more globally competitive across all industries.
The growing demand for leaders to make better and faster business decisions makes business analytics and optimization a huge global market opportunity, estimated at about US$160 billion by 2015.
High volume data continues to come from both structured and unstructured sources, including social media. Today, organizations can leverage advanced analytics to address market uncertainty, complexity, volatility, and revenue growth. However, according to Gartner Big Data demand will reach 4.4 million jobs globally by 2015, but only one-third of those jobs will be filled due to a lack of trained skilled professionals globally.
“Recognizing the impending global talent shortage, CHED and IBM, in collaboration with other key higher education stakeholders, sought to address this challenge that we face as a country. These newly approved specialization tracks on business analytics for ITE and BSBA Programs bring us a step closer to preparing our nation to capture and lead in this big global analytics market opportunity,” said Dr. Patricia B. Licuanan, Chairperson of CHED. “We are elated and encouraged that several top notch higher education institutions have already signed up and have committed to implement these analytics electives this coming school year.”
Some of the early adaptors have expressed interest and commitment to roll out the new analytics subjects this school year 2013-14, including the University of the Philippines – Diliman, Ateneo de Manila University, De La Salle University, Asia Pacific College, University of Santo Tomas, College of St. Benilde, Universidad de Manila, Jose Rizal University, Technological Institute of the Philippines, Batangas State University, Republic Central Colleges and Araullo University of the PHINMA Education Network.
“Data is quickly becoming the most important natural resource in the world, and companies who have talent with the best skills to help them take advantage of Big Data will have a more promising future. With the right academic development and professional training, the Philippines has the potential to be a leading incubator for advanced business analytics talent globally,” said Mariels Almeda Winhoffer, President and Country General Manager, IBM Philippines.
“CHED’s commitment to developing the world’s future leaders right here in the Philippines, combined with IBM’s global analytics expertise will help ensure that the country is well positioned to be a global center for advanced analytics, where industry leading best practices will be developed and implemented.”
To prepare Filipino talent for the next wave of growth, CHED and IBM forged an agreement in December 2012, to cooperate and develop an analytics education master plan that will enable and position higher education institutions in the country for leadership in analytics.
IBM, in collaboration with CHED, proactively consulted with the business community, tapped institutions that are Centers of Development (CoDs), and Centers of Excellence (CoEs) to develop specialization tracks focusing on business analytics.
IBM and CHED’s vision of a comprehensive education master plan to help capture the huge global potential of the analytics market, took shape in September 2012 when an international team of IBM volunteers worked with the Commission under the IBM Corporate Service Corps (CSC) program.
At the end of the month-long assignment, the team provided recommendations to CHED, identifying ways to position the Philippines as an analytics education and technology hub for the region.
The IBM CSC program, often called the corporate version of the “Peace Corps”, was developed to help IBM employees become effective 21st century global leaders and citizens while helping solve complex problems in developing countries like the Philippines.
The Corporate Service Corps is a global pro bono IBM initiative launched in 2008 that sends hundreds of IBM’s brightest employees into emerging markets every year. These experts provide small businesses, non-profits, non-governmental organizations, and educational institutions, expertise and professional skills to help improve local conditions and foster job creation.
The Business Analytics Specialization Tracks use an integrated approach and take into consideration the interrelationships among functional areas of business as well as sensitivity to the economic, social, technological, legal and international environment in which business must operate.
The objective of the program is not simply to impact basic business knowledge, but to instill and nurture import qualities and skills to the students that are essential for future business leadership and organizational success.