Master's Business Analytics - Vrije Universiteit Amsterdam

Solve today's complex business problems: from data to answers

Use the power of data science, big data, statistics and machine learning to maximise your impact.

The Master’s in Business Analytics is a two-year programme, divided into four semesters.

In your first semester, you’ll take a number of core compulsory courses. During the second and third semester, you’ll focus on your own specialisation. Finally, in the fourth semester, you’ll spend six months doing an internship at a business or research institute, giving you first-hand experience of the working world.

During the programme, you’ll learn all about mathematical modelling and how to apply it in practice (including at financial institutions), how to make predictions using machine learning and statistics, how to analyse data and recognise data patterns and structures, and how to build a complete decision support system as part of a group project.

You’ll also learn valuable professional skills, including scientific writing and presentation skills, as well as communication and teamwork as part of an interdisciplinary team. Finally, you’ll combine your business analytics knowledge with your professional skills in practice during your traineeship.

The start date of this programme is September 1^st.

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1st year
2nd year

First and second semester

In your first semester, you’ll take four compulsory courses – whichever track you choose.

In Applied Stochastic Modelling, you’ll gain insight into mathematical modelling and the way it’s used in practice – exploring a number of stochastic solution methods.

In the Statistical Models course, you’ll apply several common statistical models in valid settings – including analysis of variance, generalised linear models, non-linear models and time series models.

In Advanced Machine Learning, you’ll learn about the most effective machine learning techniques, and practice implementing them yourself.

You’ll also carry out a group project, Optimisation of Business Processes, which focuses on the construction and/or design of a decision support system that’s designed and built in a scientifically sound way, and can be used in practice.
Plus, you’ll prepare for your Master’s project by taking the Research Seminar Business Analytics course.

During the second semester you’ll get the chance to specialise in one area of expertise:

Optimisation of Business Processes
Computational Intelligence
Financial Risk Management
Research

Optimisation of Business Processes
Computational Intelligence
Financial Risk Management
Research track

Summary

How to price airline tickets optimally? How to reduce the waiting time in a hospital? The Optimisation of Business Processes track is all about utilising data and algorithms to optimise business decisions. It combines the fields of operations research, data science and operations management into a track focused on improving businesses and organisations.

If you choose this track, you’ll take compulsory courses in the optimisation of business processes – including mathematical optimisation – and machine learning and its applications, such as dynamic programming and reinforcement learning.

You’ll also choose three electives from a selection.

Optimisation of Business Processes courses

Dynamic Programming and Reinforcement Learning
Mathematical Optimization
Optimization of Business Processes

You can find the complete course overview for this year in the Study guide

Summary

Which patients are likely to develop serious coronavirus symptoms? What’s the probability of a consumer clicking on an advert on a website? Where is crime most likely to occur?

The answers to these questions can be found using algorithms from data mining and machine learning. They turn large amounts of data into useful information, using tools like artificial intelligence, big data, deep learning, evolutionary computing, data mining, data science and so on. This is one of the hottest scientific topics of this century – and it’s showing no signs of slowing down.

You’ll also choose three electives from a selection.

Computational Intelligence courses

Evolutionary Computing
Deep Learning
Natural Language Processing
Master Project Business Analytics
Advanced Machine Learning
Applied Stochastic Modeling
Statistical Models
Research Seminar Business Analytics

You can find the complete overview of courses in the study guide

Summary

How should share options be priced? Which home owners are most likely to default on their mortgage payments? If any sector uses numbers, it’s finance. The availability of large amounts of data opens up numerous possibilities to apply quantitative techniques. And this track will give you the tools to crunch the numbers.

You’ll learn to price derivatives, such as share options, and strategies for risk management. And you’ll learn how to determine which customers are most at risk of defaulting on their monthly payments. You’ll gain both practical skills and theoretical knowledge, making you a valuable asset for any financial institution or fintech.

If you choose this track, you’ll take compulsory courses that combine mathematics with financial applications, including stochastic processes for finance, applied analysis using financial mathematics, and investments.

You’ll also choose three electives from a selection.

Financial Risk Management courses

Master Project Business Analytics
Advanced Machine Learning
Applied Stochastic Modeling
Statistical Models
Research Seminar Business Analytics
Stochastic Processes for Finance
Applied Analysis: Financial Mathematics
Investments

You can find the complete course overview of this year in the study guide

Summary

Are you interested in following a scientific academic career? And do you have top grades from your Bachelor’s degree?

More than any of the other specialisations, the Research track focuses on the theory of mathematical optimisation and computational intelligence. It’s great preparation for a career in scientific research.

If you choose this track, you’ll take a compulsory course in dynamic programming and reinforcement learning and a compulsory course in mathematical optimization. You’ll also write a research paper.

You’ll also choose three electives from a selection:

Mathematical Systems and Control Theory
Evolutionary Computing
Continuous Optimization
Discrete Optimization
Markov Chains
Deep Learning
Time Series Models
Advanced Linear Programming
Applied Analysis: Financial Mathematics
Queueing Theory
Scheduling

You can find the complete course overview for this year in the study guide.

Optimisation of Business Processes
Summary

How to price airline tickets optimally? How to reduce the waiting time in a hospital? The Optimisation of Business Processes track is all about utilising data and algorithms to optimise business decisions. It combines the fields of operations research, data science and operations management into a track focused on improving businesses and organisations.
If you choose this track, you’ll take compulsory courses in the optimisation of business processes – including mathematical optimisation – and machine learning and its applications, such as dynamic programming and reinforcement learning.
You’ll also choose three electives from a selection.
Optimisation of Business Processes courses
- Dynamic Programming and Reinforcement Learning
- Mathematical Optimization
- Optimization of Business Processes
You can find the complete course overview for this year in the Study guide
Computational Intelligence
Summary

Which patients are likely to develop serious coronavirus symptoms? What’s the probability of a consumer clicking on an advert on a website? Where is crime most likely to occur?
The answers to these questions can be found using algorithms from data mining and machine learning. They turn large amounts of data into useful information, using tools like artificial intelligence, big data, deep learning, evolutionary computing, data mining, data science and so on. This is one of the hottest scientific topics of this century – and it’s showing no signs of slowing down.
If you choose this track, you’ll take compulsory courses in the optimisation of business processes – including mathematical optimisation – and machine learning and its applications, such as dynamic programming and reinforcement learning.
You’ll also choose three electives from a selection.
Computational Intelligence courses
- Evolutionary Computing
- Deep Learning
- Natural Language Processing
- Master Project Business Analytics
- Advanced Machine Learning
- Applied Stochastic Modeling
- Statistical Models
- Research Seminar Business Analytics
You can find the complete overview of courses in the study guide
Financial Risk Management
Summary

How should share options be priced? Which home owners are most likely to default on their mortgage payments? If any sector uses numbers, it’s finance. The availability of large amounts of data opens up numerous possibilities to apply quantitative techniques. And this track will give you the tools to crunch the numbers.
You’ll learn to price derivatives, such as share options, and strategies for risk management. And you’ll learn how to determine which customers are most at risk of defaulting on their monthly payments. You’ll gain both practical skills and theoretical knowledge, making you a valuable asset for any financial institution or fintech.
If you choose this track, you’ll take compulsory courses that combine mathematics with financial applications, including stochastic processes for finance, applied analysis using financial mathematics, and investments.
You’ll also choose three electives from a selection.
Financial Risk Management courses
- Master Project Business Analytics
- Advanced Machine Learning
- Applied Stochastic Modeling
- Statistical Models
- Research Seminar Business Analytics
- Stochastic Processes for Finance
- Applied Analysis: Financial Mathematics
- Investments
You can find the complete course overview of this year in the study guide
Research track
Summary
Are you interested in following a scientific academic career? And do you have top grades from your Bachelor’s degree?
More than any of the other specialisations, the Research track focuses on the theory of mathematical optimisation and computational intelligence. It’s great preparation for a career in scientific research.
If you choose this track, you’ll take a compulsory course in dynamic programming and reinforcement learning and a compulsory course in mathematical optimization. You’ll also write a research paper.
You’ll also choose three electives from a selection:
- Mathematical Systems and Control Theory
- Evolutionary Computing
- Continuous Optimization
- Discrete Optimization
- Markov Chains
- Deep Learning
- Time Series Models
- Advanced Linear Programming
- Applied Analysis: Financial Mathematics
- Queueing Theory
- Scheduling
You can find the complete course overview for this year in the study guide.

Third and fourth semester

During the third semester, you’ll continue to specialise in your chosen area of expertise.

In your fourth and final semester, you’ll carry out your Master’s project, which is based on a six-month internship at a company or research institute. Examples of past internships include revenue management at KLM (how to price airline tickets to maximise revenue?), patient logistics at the Academic Medical Centre (how to schedule the optimal use of CT scanning equipment?), and meeting location planning for Logica CMG (how to find the most suitable meeting location in the Netherlands?).

Internship
In the last half of your second year of the Master's programme Business Analytics, you’ll take a six-month internship at a company or external organisation, where you’ll carry out a research project.

Examples of past internships include revenue management at KLM (how to price airline tickets to maximise revenue?), patient logistics at the Academic Medical Centre (how to schedule the optimal use of CT scanning equipment?), and meeting location planning for Logica CMG (how to find the most suitable meeting location in the Netherlands?).

Please visit the Internship Office Business Analytics for Master Project Business Analytics internship reports and information about the dual programme Business Analytics.

Optimisation of Business Processes
Computational Intelligence
Financial Risk Management
Research track

Summary

You’ll also choose three electives from a selection.

Optimisation of Business Processes courses

Dynamic Programming and Reinforcement Learning
Mathematical Optimization
Optimization of Business Processes

You can find the complete course overview for this year in the Study guide

Summary

Which patients are likely to develop serious coronavirus symptoms? What’s the probability of a consumer clicking on an advert on a website? Where is crime most likely to occur?

You’ll also choose three electives from a selection.

Computational Intelligence courses

Evolutionary Computing
Deep Learning
Natural Language Processing
Master Project Business Analytics
Advanced Machine Learning
Applied Stochastic Modeling
Statistical Models
Research Seminar Business Analytics

You can find the complete overview of courses in the study guide

Summary

You’ll also choose three electives from a selection.

Financial Risk Management courses

Master Project Business Analytics
Advanced Machine Learning
Applied Stochastic Modeling
Statistical Models
Research Seminar Business Analytics
Stochastic Processes for Finance
Applied Analysis: Financial Mathematics
Investments

You can find the complete course overview of this year in the study guide

Summary

Are you interested in following a scientific academic career? And do you have top grades from your Bachelor’s degree?

You’ll also choose three electives from a selection:

Mathematical Systems and Control Theory
Evolutionary Computing
Continuous Optimization
Discrete Optimization
Markov Chains
Deep Learning
Time Series Models
Advanced Linear Programming
Applied Analysis: Financial Mathematics
Queueing Theory
Scheduling

You can find the complete course overview for this year in the study guide.

Optimisation of Business Processes
Summary

How to price airline tickets optimally? How to reduce the waiting time in a hospital? The Optimisation of Business Processes track is all about utilising data and algorithms to optimise business decisions. It combines the fields of operations research, data science and operations management into a track focused on improving businesses and organisations.
If you choose this track, you’ll take compulsory courses in the optimisation of business processes – including mathematical optimisation – and machine learning and its applications, such as dynamic programming and reinforcement learning.
You’ll also choose three electives from a selection.
Optimisation of Business Processes courses
- Dynamic Programming and Reinforcement Learning
- Mathematical Optimization
- Optimization of Business Processes
You can find the complete course overview for this year in the Study guide
Computational Intelligence
Summary

Which patients are likely to develop serious coronavirus symptoms? What’s the probability of a consumer clicking on an advert on a website? Where is crime most likely to occur?
The answers to these questions can be found using algorithms from data mining and machine learning. They turn large amounts of data into useful information, using tools like artificial intelligence, big data, deep learning, evolutionary computing, data mining, data science and so on. This is one of the hottest scientific topics of this century – and it’s showing no signs of slowing down.
If you choose this track, you’ll take compulsory courses in the optimisation of business processes – including mathematical optimisation – and machine learning and its applications, such as dynamic programming and reinforcement learning.
You’ll also choose three electives from a selection.
Computational Intelligence courses
- Evolutionary Computing
- Deep Learning
- Natural Language Processing
- Master Project Business Analytics
- Advanced Machine Learning
- Applied Stochastic Modeling
- Statistical Models
- Research Seminar Business Analytics
You can find the complete overview of courses in the study guide
Financial Risk Management
Summary

How should share options be priced? Which home owners are most likely to default on their mortgage payments? If any sector uses numbers, it’s finance. The availability of large amounts of data opens up numerous possibilities to apply quantitative techniques. And this track will give you the tools to crunch the numbers.
You’ll learn to price derivatives, such as share options, and strategies for risk management. And you’ll learn how to determine which customers are most at risk of defaulting on their monthly payments. You’ll gain both practical skills and theoretical knowledge, making you a valuable asset for any financial institution or fintech.
If you choose this track, you’ll take compulsory courses that combine mathematics with financial applications, including stochastic processes for finance, applied analysis using financial mathematics, and investments.
You’ll also choose three electives from a selection.
Financial Risk Management courses
- Master Project Business Analytics
- Advanced Machine Learning
- Applied Stochastic Modeling
- Statistical Models
- Research Seminar Business Analytics
- Stochastic Processes for Finance
- Applied Analysis: Financial Mathematics
- Investments
You can find the complete course overview of this year in the study guide
Research track
Summary
Are you interested in following a scientific academic career? And do you have top grades from your Bachelor’s degree?
More than any of the other specialisations, the Research track focuses on the theory of mathematical optimisation and computational intelligence. It’s great preparation for a career in scientific research.
If you choose this track, you’ll take a compulsory course in dynamic programming and reinforcement learning and a compulsory course in mathematical optimization. You’ll also write a research paper.
You’ll also choose three electives from a selection:
- Mathematical Systems and Control Theory
- Evolutionary Computing
- Continuous Optimization
- Discrete Optimization
- Markov Chains
- Deep Learning
- Time Series Models
- Advanced Linear Programming
- Applied Analysis: Financial Mathematics
- Queueing Theory
- Scheduling
You can find the complete course overview for this year in the study guide.

If you’re keen to work while studying Business Analytics at the same time, consider following the dual programme. For the first 16 months, you’ll combine your degree studies with a relevant part-time job. You’ll receive 12 credits, a regular salary, and valuable experience that will prepare you even better for professional life.

If you’re looking for a degree that will be your springboard to an international graduate career, look no further. We estimate that around 95% of Business Analytics graduates go straight into full-time employment on completing their studies. And of course, studying in Amsterdam means you have a wealth of international business opportunities right on your doorstep.

Explore your future prospects

Two women discuss figures on the big screen

Please contact the Master's coordinator

Eduard Belitser
e.n.belitser@vu.nl

Business Analytics

Optimisation of Business Processes

Computational Intelligence

Financial Risk Management

Research track

Optimisation of Business Processes

Computational Intelligence

Financial Risk Management

Research track

Master's Project

Application

Dual programme

Change your future with the Business Analytics programme

Change your future with the Business Analytics programme

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