WU Vienna University of Economics and Business is deepening its focus on data analysis and decision sciences. The university is taking steps to strengthen data literacy in teaching and research – with its new Department of Business Analytics and Decision Sciences, a data-focused major in WU’s flagship Bachelor’s Program in Business, Economics and Social Sciences, and the new WU Competence Center for Applied AI & Scientific Computing. In the coming months, 24 new faculty positions, including six professorships, will be established at the department.

Data-based decision-making is a key pillar of successful strategies in business, politics, and society today. But as the complexity of the technologies is increasing, so are the demands placed on the users. “To succeed in business today, you not only have to be able to collect data but also analyze it correctly and know how to use it effectively,” says WU Rector Rupert Sausgruber. “WU is taking an active role in shaping these developments: Our new focus combines economic thinking with modern data analysis and social responsibility, creating a basis for sound strategic decision-making in an increasingly data-driven world,” Sausgruber points out.

New research priorities and additional faculty

In its research activities, the new Department of Business Analytics and Decision Sciences will develop innovative approaches for the use of data in business and society. For instance, it will focus on creating analytical and data-driven solutions for challenges such as automation, supply chain optimization, human resources and customer management, global business strategies, fraud detection, and personalized AI recommendations. These avenues of research promise to yield applications in a broad range of fields, including climate protection and adaptation, energy, mobility, crisis management, and security, but also in arts and culture, creativity, tourism, sports, healthcare, and efforts to build a livable society. These approaches are also crucially important for social networks and online marketplaces. At the same time, WU will also be improving its student-teacher ratios by expanding its faculty and ensuring contributions to various degree programs.

A new major equips students with data-based analysis skills

Building on these new resources, WU will be launching its new Business Analytics and Decision Sciences major in the Bachelor’s Program in Business, Economics and Social Sciences in the academic year 2026/27. This major is specifically designed to prepare students for carrying out data-based analyses and using algorithmic systems in a responsible manner, with a special focus on analytical thinking and data-supported decision-making processes. The major will equip graduates with a specific skill set that is increasingly sought-after on the job market.

Long-term focus on digital technologies and expansion of strategic areas of expertise

In 2020, WU started placing a specific focus on digitalization skills with its English-taught Digital Economy MSc program and several specialized professorships. With the new department and the corresponding bachelor’s program major, WU is now taking steps to expand this focus to include business analytics. The Competence Center for Applied AI & Scientific Computing will bring together WU researchers working on technological and methodological developments in artificial intelligence, serving as a central platform and coordination hub for these areas of research.