"There is no longer education. Every five years there are fundamental technical innovations due to the rapidly developing digitalization. However, higher education must develop a lasting response to this."
Within his area of expertise, he is primarily concerned with big data - all the data that has been dormant in companies for years and was previously just collected without being evaluated. This amount of data will continue to increase, particularly as a result of the future ‘Internet of Things’.
Prof Dr Castro Soeiro says: “We have enormous, and above all rapidly growing, amounts of data at our disposal as a source of new knowledge. If we secure data, for example by using blockchain technology and combine it with artificial intelligence, we will discover new data patterns from large data streams. This fundamentally changes the creation, access and use of knowledge, shaping new types of interaction which leads us to new paths and solutions. Imagine you have trained an AI algorithm to accurately detect lung cancer using computed tomography scans. Artificial intelligence can outperform the human evaluation of these scans and have enormous health effects."
Data is the new backbone of the economy
Prof Dr Castro Soeiro says about his field of study: "It is a new way of thinking socially and economically and evaluating developments. In the past, the existence of or access to natural resources, such as raw materials and mineral resources, was the backbone of any economy. In the future, this will be replaced by 'New Knowledge'. As a professor, I am, of course, very much influenced by this in the way I want to convey knowledge."
Pioneers of the digital labour market
He says that his students are entering a largely unexplored field: "We train employees for innovative and management positions in tomorrow's companies. Pretty much all companies will have to undergo a fundamental change in the near future. What will corporate management look like in the future? How will processes be designed, controlled and monitored? How will they achieve innovation?" For him, it is clear: "We need curious, even hungry students to embark on a journey in space and time. Students with different social and international backgrounds who will bring in their multiple perspectives."
Best job opportunities
Prof Dr Castro Soeiro is encouraged by the job opportunities for his graduates: "Our students will probably know more about digital business and data sciences than their superiors when they are finished and go from university to business. Companies will take advantage of this bottom-up effect. That's what we train for. At some point, our students should become the new leaders who drive a new way of thinking. Your time for learning is now!”
Studying Digital Business and Data Science
As an expert in digital business and data science, you become a pioneer in one of the most important business segments of the economy in the future. In essence, it is all about understanding and using big data, mobility, cloud computing and cybersecurity. This means using the sheer amount of raw data generated by almost all electronic devices, our digital usage and various offline sources as technology and business drivers and transforming it into valid business models, developing innovations or improving existing products and services that have a greater benefit for society.
The spectrum of tasks and professions of data scientists ranges from the optimisation of existing processes, for example in industry or agriculture, to innovation management at product level, management consulting or strategic planning. Digital business strategists will become the chief executive officers (CEOs) of tomorrow. Graduates also qualify as software and app developers, chief technical officers (CTOs) and for roles in online marketing. By combining the two key qualifications of management and programming during their studies, graduates are optimally prepared for everyday work in all these industries.
Students at the University of Applied Sciences Europe learn not only the basics of quantitative research and IT, but also theoretical and practical knowledge in business administration, mathematics, process management, marketing, controlling, law and corporate management. During their studies, they continuously program and implement their own projects. At the end of their training, as data experts, they will be able to identify weaknesses in products and services in data sets, develop concrete suggestions for improvement and alternatives, and discover new business models, products and innovations.