Data science uses large sets of data — sometimes millions of pieces of data — to describe or solve some of the world’s toughest problems. Data scientists use those large sets of information to describe what's happening, explain why it's happening, predict what's likely to happen and make decisions about what action to take.
The field of data science is accelerating rapidly across most industries. The 2018 "Milwaukee's Tech Talent Impact" study found that there will be a minimum of 31,000 job openings in tech-related fields in the next five years, not including thousands of projected new jobs. As data science becomes more critical to how companies do business, the need for strong talent with skills and passion in business, mathematics, behavioral sciences, process design and industrial engineering is essential.
For this reason, Northwestern Mutual approached both Marquette University and the University of Wisconsin–Milwaukee to explore the potential of expanding their existing data science programs with the company’s support, collaboration and industry expertise in this emerging field.
In June 2018, the three institutions announced the creation of the Northwestern Mutual Data Science Institute, a groundbreaking partnership that contributes to the formation of a technology ecosystem and advances southeastern Wisconsin as a national hub for technology, research, business and talent development, while creating an organic pipeline of tech talent in the area.