Management Science: modules I’ve enjoyed the most

StudyingDuring my Masters at MSc Management Science and Marketing Analytics programme I’ve been studying 10 modules in total – 4 in Autumn and 6 in Spring. Below is the list of my favourites.

3rd place: Marketing Analytics
This was the core module of my subject. It was taught in both terms, although in Autumn it was called ‘Introduction to Marketing Analytics’. Taught by Nikos Kourentzes, this course was rather practically oriented and although it gave some theoretical knowledge about concepts like 4P, brand power or promotional modelling, it was mainly focused on data analysis. During this course I’ve done conjoint analysis, clustering, multidimensional scaling, promotional modelling, regression analysis, forecasting newly launched product with statistical approaches. I’ve used SPSS and R extensively. It gave me good understanding of how to make data-driven marketing decisions and taught that marketing is not only about creativity and advertising – there is massive data analysis behind the scenes that actually helps companies make right business decisions about promotion and positioning.

2nd place: Forecasting
Centre for Forecasting located in Lancaster University is the No. 1 forecasting centre in Europe. One of the key factors that made me come and study in Lancaster was my passion for forecasting subject. And undoubtedly it was one of the best in the course. Interesting lectures, well-structured workshops, excellent delivery of a new and sophisticated material. This module was organised very thoroughly, not to mention that it was taught by the well-known scientists in the forecasting field – John Boylan and Robert Fildes. Eventually my dissertation project was related to short-term electricity demand forecasting, and this module and people helped me a lot. By the way, you’ll learn R programming language during this module.

1st place: Spreadsheet Modelling
This was a fantastic module run by (in my humble opinion) the best teacher in the department – Adam Hindle. It was a well-structure course that implied no prior Excel knowledge. In the beginning I was a bit biased given my 2-year analytical experience with a company where I’ve been using Excel extensively – what new can I learn at this module? However, although this course started from very basic things such as operation with simple formulas, design of tables, structuring information, etc., it was constantly speeding up – the pace was good, and each new task was more difficult the previous one. At one moment of time I was surprised to find myself writing codes in VBA, performing macro, solving optimisation tasks in a Solver add-in and composing pivot tables.

Come, get yourself a taste of Lancaster!

Come around here, and experience all the tastes LUMS has to offer!

LumsCupcakes Ipshitha

Hola! I am Ipshita and currently pursuing a MSc in Human Resources and Knowledge Management. This is not my first time in the UK, nor is it my first time in Lancaster, but it is the first time I have been here for more than just a summer school or a holiday. I have travelled quite a bit, almost to 13 countries and a few times alone as well. I flew alone for the first time when I was 6, but this is the first time I have ever lived by myself for a whole year! As life is, there have been ups and downs, but the best things are so worthy that I would never trade them for anything else.

I am fond of travelling, meeting new people and experiencing cultures. I remember a new module we started in the second term, the professor decided to ask everyone to introduce themselves, as he wrote down all their native countries on the board. He started with the last row, there were 10 students and all 10 of them were from 10 different countries! Could you believe that? In total, there were 37 students from 18 different countries! Austria, Bolivia, Brazil, China, France, Greece, India, Malaysia, Nigeria, Portugal, Romania, Rwanda, Spain, Switzerland, Taiwan, Thailand, Trinidad and the United Kingdom. It was the first time that it really hit me that I am actually studying in a truly global environment. Not to mention the friends I have made from many other countries.

Apart from academics, this experience is also enriching because of how I have grown internally. Stepping away from your comfort zone can really do wonders! (those quotes you see on Instagram or tumbler are true!) The magic actually happens outside your comfort zone.

There were all sorts of things I was worried about before coming. I have always been the younger kid in the class. When the course was about to begin, I thought to myself “A 20-year-old kid doing masters? Nah, they will for sure treat me like a baby”. I was pretty wrong. I have gotten to know people from all walks of life and I have learnt a great deal from every single one of them.
Also, before the course began, I wanted a self-sufficient studio because I did not know what kind of people I might have to share my flat with. I am glad I chose an en-suite room with a sharing kitchen,  I have made some of the best friends I could on my flat. Moreover, I have actually learnt to cook a few good meals from scratch! [mind that, ramen noodle is not cooking].

The experience is not just the academics, being here at Lancaster University is a package of an experience!

 

How international is the Master of Science in International Business & Strategy in reality?

Hi! I’m Tobias, and I am currently studying the Master of Science in International Business & Strategy programme. Before beginning this programme at Lancaster University Management School, I would never have expected to get such an international experience as I have gotten during the past year.

Tobias IBS

I remember my first day here in the United Kingdom: I arrived at the Manchester airport after a long flight from Hong Kong where I just finished my Internship. Waiting at the bus terminal of the airport for an organized bus to Lancaster. At that moment I started to realize, that I was the only European student in the hall – all others are from Asia. This discovery continued at the campus of the University. The graduate college is basically kind of a small village with students from all over the world. I started to share my flat with students from Russia, New Zealand, England, Thailand and Lebanon. My class of 28 students is a collection of 15 different nationalities.

All this internationalization brings so many things together not only in terms of studying but also in terms of social skills. I started to think in different ways and different perspectives. I have learned to speak in different languages and by doing a group work, it surprised me how people in different countries have various style of working. Of course it complicating the steps of achievement at the beginning, but in the end you did not only achieve the goal of the module, but also learned how to work and communicate with complete different people. This unique skill is so valuable since this kind of experience you will not find it in books which it will be an important skill for future international career.

As it would not be already enough international, the university provides even more opportunity for the person like me who are keen to explore a new experience. For example, I could choose an elective program in cooperation with the Peking University in China. In that context, I spent two incredible weeks at the Management School of the Peking University in Beijing, Xi’an and Shanghai. And again, the class was another collection of nationalities: Only four students were coming from LUMS, about ten from top US universities, another ten from Australia and couple of students from other top ranked business school around the world. Moreover, this programme introduced us not only in theory into the Chinese market, but also through company visits and cultural trips to main touristic attractions in these Chinese cities.

Last but not least, by studying here, it is not just meeting people and saying goodbye after the graduation. We are talking about the beautiful friendship and relationship that we have been spending together in a year. Hence, in the future, it could grow as an international business connection or even true friends for the rest of your life.