‘HSE “Master of Business Analytics” Attracted Me with Its Innovative Online Format’
Renata Zakirova is a graduate in Medical Science of the Faculty of Fundamental Medicine of Lomonosov Moscow State University and a current student of the HSE Master of Business Analytics programme. She spoke to the HSE News Service to share why she chose HSE's online master's programme and explain what diagnosing a patient and assessing the stock market have in common.
The English-language online programme ‘Master of Business Analytics’ of the Faculty of Economic Sciences offers modern concepts and methods of business analysis with the integration of data on financial and non-financial forms of capital. The synthesis of traditional metrics and new criteria for assessing a company’s success meets the goals of sustainable development and green financing and takes into account the critical role of intellectual resources in competition. The programme pays particular attention to business data analysis and interpretation tools, modern tools and programming languages. The programme is focused on new professional tracks for the near future and offers two specialisations: Value Based Business Analytics and Strategic Business Reporting and Assurance.
Renata Zakirova
— What are the advantages of the programme?
— HSE University has an impressive reputation for training specialists in this field. Due to my ambitions, I did not consider other educational institutions for further study. The master's programme attracted me with its innovative online format, because the opportunity to combine far-from-simple studies with work and family is not an easy task. Managing time and human resources competently is one of the key skills that can be acquired in the learning process. The online format keeps you focused and gives you freedom of choice: each student independently determines when and which subject to pay more attention to, and when to spend more time with their family. And it really helps maintain a work-life balance, which is very important for me and my classmates, most of whom are adults with families, children and lots of work. In addition to the online format, I liked the programme curriculum: there are no business areas that we would not study in one way or another.
— What disciplines motivated you to apply for the programme?
— With my medical background, all the disciplines were new. That is why the programme appealed to me with its comprehensive curriculum that allows me to study many areas. The opportunity to choose additional subjects and electives helps you to immerse yourself in a certain area. When you analyse all the stages of a company’s formation in detail—from the launch of a promising startup to the liquidation of a corporation—the knowledge takes shape much better. Every subject is useful.
— How is the communication with the programme’s experts?
— Our professors are business-minded and busy people who manage to shower the students with attention and answer any questions— even the most banal and stupid ones. Irina Ivashkovskaya, our academic supervisor, regularly holds Zoom meetings with us where we discuss important points. You can feel that the professors are fond of their work. They strive to make our new programme better and, of course, monitor student progress—sometimes they scold you and sometimes they praise you. I think, in addition to expert experience in business analysis, we can definitely adopt their personal qualities.
Graduates of the online programme ‘Master of Business Analytics’ receive a master's degree in Finance with a focus on business analytics, so the curriculum has essential disciplines for financial specialists (Finance Theory, Macroeconomics, Econometrics, Financial Markets and Instruments, Corporate Finance, International Financial Reporting, etc) and disciplines tailored to the programme (Valuation and Value Based Management, Python, Strategic Managerial Accounting, Public Non-financial Reporting, etc) taking into account international expertise. Students take 11 elective courses, 5–6 of which can correspond to their specialisation.
— How does studying on the programme help you professionally?
— I supervise the financial and economic department of a large regional company that produces drinking and mineral water. Thanks to my medical education, I understand the essential role of water for human body. It helped me to make a significant contribution to the company’s development, which affects our financial success. Having gained invaluable experience in the field of business analysis and finance, I strive to improve my skills using the critical knowledge basis that the Master's programme offers. I should say that I have applied the knowledge I gained several times, especially during the difficult situation in the market this spring. Problems in logistic chains, a rapid rise in raw material prices, stagnation in financial flows—you can’t handle these problems without competent and deliberate analysis.
— How will business analysis develop in the near future?
— HSE University cooperates with AICPA and CIMA (the American Institute of CPAs and the Chartered Institute of Management Accountants) to offer students the course ‘Emerging Topics in Finance’, which proves that the future belongs to big data analysis, blockchains and the robotisation of processes with possible AI integration. I was surprised and excited to learn about the possibilities of automation in accounting and audit analysis, the introduction of additional software to reduce labour costs for mechanical calculations, and the development of the trend for cryptocurrencies. At the same time, all this know-how doesn’t diminish the role of expert-quality work. Competent specialists in these emerging areas will be in demand in the financial labour market.
— Students with different professional backgrounds and interests study on the programme. What do you have in common?
— No matter what fields people come from, there will always be something common between them. Given that all the students on the programme are motivated, interested, well-educated and with a broad outlook, I really enjoy communicating with my classmates. Our training includes teamwork, so our team building skills are well developed. Starting with the nightly analysis of tasks in Zoom in early September, we gradually came to the point where we call each other just to exchange news, support each other, or ask how someone’s cat is doing.
I graduated from the Faculty of Fundamental Medicine, but having combined two very different fields of education, I was pleasantly surprised: they complement each other perfectly. Invaluable experience of critical and systematic thinking, comprehensive analysis of large amounts of information, the ability to make decisions quickly under stress—all the skills acquired during medical internships now perfectly complement my new field of interest and help in training. For example, the process of diagnosis, which is based on information that you learn from communicating with patients, initial examination and basic laboratory tests, is quite similar to evaluating stocks and markets. Of course, you use completely different techniques, but in general, it is the same puzzle: you assemble a complete picture from details, give the correct interpretation, and suggest further steps. It’s like a diagnosis, but in the context of a completely different industry.
— What advice do you have for those planning to apply for the programme?
— This programme is a brilliant start for those who, like me, decided to refocus their specialisation or just started planning their career in finance. The HSE University Master of Business Analytics programme requires unprecedented research work and workload; it’s a comprehensive curriculum that you need to keep up with. Finally, I can give a personal tip—make sure you have a good internet connection. Disconnecting, for example, during your term paper defence is awkward and an unnecessary stress that you wouldn’t wish on anyone.
On June 29, at 18:00 (Moscow time), the Master of Business Analytics programme will hold the webinar ‘How to combine intensive work and training in new areas of analytics’.
Why are non-standard roles for financial specialists and new professional trajectories for financial directors such a topic of discussion today? How is business analytics related to financial work? Irina Ivashkovskaya (Head of the School of Finance and Academic Supervisor of the online programme ‘Master of Business Analytics) and business experts will talk about shifts in financial professions and how the online programme's original content and forms of training will help students to acquire essential competencies. Master’s students will share how they manage to combine work with video lectures and project work in the programme’s courses.