MANILA, Philippines – On September 26, 2024, the UST Economics Society, represented by its members and faculty, including Asst. Prof. Mary Hildence Baluyot, MSc, and Mr. Peter Jeff C. Camaro, M.A., Chairperson of the Department of Business Economics, attended the Data Analytics Launch hosted by Junior Achievement (JA) Philippines at the JA Philippines Building in Ortigas. This event highlighted the growing role of data analytics in shaping industries and emphasized the need for educational institutions to keep pace. In today's fast-moving business world, the ability to leverage data analytics has become an imperative driver for success and competitiveness in organizations. As strategic decision-making becomes necessarily based on data-driven insights in modern industries, similar updates in the curricula at academic institutions are also expected. The Department of Business Economics recognized the urgent need of integrating data analytics in today’s data-driven world. 

Data analytics is used in myriad ways in one's day-to-day routine. It plays a significant role in popular apps such as Instagram, TikTok, and Facebook. Some may think it is pure coincidence – or even fate – that their For You Page (FYP) is well-suited to their personalities; however, with the use of data analytics, the algorithm on most apps seems personal, based on the information shared by the user (digital footprint, purchasing behavior, etc.). 

Data analysts are currently in high demand in the Philippines, hence the Junior Achievement of the Philippines (JA Philippines) launched their Data Analytics Program which caters to students primarily with their partner schools, such as the University of Santo Tomas, De La Salle University, and several other universities. They provided seven core competencies in their curriculum, namely, data gathering, cleaning, data analysis, data visualization, communication, project management, and domain knowledge. Data gathering, cleaning, and data analysis would be applicable to collecting and processing information. Data visualization comes hand-in-hand with communication to ensure that the thoughts and insights are presented clearly and coherently to the target audience. Project management helps improve students' efficiency, while domain knowledge guarantees equipping students with 21st-century skills aligned with one of UST's Business Economics Department's goals. 

But why is this important? 

Knowing how to analyze and collect quantitative tools and data is crucial in innovating and keeping up with trends to meet the market's needs and wants. It minimizes the risk of losing potential customers and increases the chances of creating a loyal customer base. Efficiency and effectiveness would also be improved since the approach would focus more on data-driven decisions than intuition. 

During the event, Mr. Peter Jeff C. Camaro, M.A., the chairperson of the UST Department of Business Economics, highlighted various issues faced by the department. Among these challenges include the perceived difficulty of the program by prospective students, gaps in the program's background, and misalignment of SHS strands with the Business Economics program. In addition, he mentioned that many students need to prepare for the mathematical and statistical demands of the program. 

Mr. Camaro also pointed out that there is a need to revise the outdated curriculum of the program to keep up with the rapidly changing world. He also emphasized that the university must also learn to embrace progressiveness, adopt innovations, and integrate modern industry practices to remain competitive in today’s world. Lastly, he also highlighted the ambiguity surrounding career progression for Business Economics graduates. Many prospective students need more precise information about the career paths available after graduation, which creates uncertainty and hesitation in their decision to pursue the Business Economics program. 

Most of the event focused on the proposed solutions to these challenges, emphasizing the importance of building relationships, investing in data analytics, and fostering continuous learning. The speakers stressed the critical role of networking industry professionals as these connections can provide valuable mentorship, guidance, and opportunities for students to gain real-world insights and access to internships or job placements. For UST to stay ahead, Mr. Camaro called for strategic investments in modern data analytics tools and training. This investment would improve the quality of education and position university graduates to meet the needs of industries that are rapidly adopting data-driven decision-making processes. 

Overall, the JA Philippines’ Data Analytics Program Launch serves as a starting point for institutions like the University of Santo Tomas to adapt and evolve in response to the growing demand for data analytics skills. Through building industry relationships, investing in the right tools, and fostering a culture of continuous learning, UST's Business Economics department can ensure that its students are well prepared to succeed in an increasingly data-driven economy. 

Through the collaborative efforts of JA Philippines and the UST Department of Business Economics, students can look forward to a future where they are equipped with the necessary skills and supported by a strong network of professionals and ongoing learning opportunities.