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Mathematicians in the Business World

Mathematicians in the Business World. Some facts and personal experiences Michael Nöcker. Agenda. Non vitae sed scholae discimus. Where you can find mathematicians in the Business World. Is there any mathematics in the daily work?

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Mathematicians in the Business World

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  1. Mathematicians in the Business World Some facts and personal experiences Michael Nöcker

  2. Agenda • Non vitae sed scholae discimus. • Where you can find mathematicians in the Business World. • Is there any mathematics in the daily work? • Why mathematics is a good foundation for the Business World.

  3. Non vitae sed scholae discimus • …and when he leaves university!” “A mathematician has to forget his knowledge twice in his lifetime: When he starts university …

  4. Is mathematics needed for business? • Mathematics is often said to be a core competence. It is therefore part of the education at university for most business studies. • It is one of the so-called MINT* disciplines which are important for Germany and other industrialized countries. * MINT = Mathematics, Engineering, Nature Science, Technology

  5. Who is searching for mathematicians? Source: Statistisches Bundesamt, 2003

  6. A first observation • Mathematics seems to be important for the Business World. • Mathematicians are needed in a various number of Business Areas. Does it mean that a mathematician does mathematics when he works in the Business World?

  7. Is there any mathematics in the daily work? • For some business areas the answer is obviously yes: • Education: teaching mathematics and doing mathematical research • Finance and Insurance: experts calculating risks and expectations

  8. Is there any mathematics in the daily work? • But most of the mathematicians in the Business World I have met say “No”. • These guys are • IT specialists defining processes and developing programs, • working as project managers, • leading and managing teams. • Their daily work is about accounting, controlling, logistics, purchasing etc.

  9. A second observation • Some business areas need specialists for specific mathematical problems. • But a lot of mathematicians are not working on specific mathematical problems in their daily work. What are the reasons that mathematicians are nevertheless well-qualified for the Business World?

  10. Qualifications – what is necessary for the Business World? • (but) soft skills and competencies like • analytical thinking • efficient and self-controlled work • talent for negotiations • knowledge of foreign languages • ability to communicate and present “Math skills not (directly) relevant!”

  11. A mathematician’s way to work • analyze problems systematically • separate important from unimportant things • understand the basics behind a problem • solve difficult problems even if this needs a long period of time

  12. A last observation • Specific mathematical knowledge is often not the competence for the Business World. • But the skills necessary to do mathematics are a very good foundation for the Business World. A mathematician is well-prepared for the Business World. But mathematics may be not part of his daily work.

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