What Is Management Science? + How to Enter This Field

Management science takes a structured analytical approach to decision-making, ensuring it is efficient and backed by scientific data. Introducing management science in an organisation can improve performance and risk management processes.

Explore management science, uncover career paths within this analytical field, and strategies for entering the profession.

What is management science?

Management science is the study of problem-solving and decision-making in organisations. It is like applying the scientific method to management, enabling managers to make decisions for an organisation and improve its performance. For example, health care facilities can use management science to determine the necessary information systems, while airlines can use it to schedule planes and crew.

Management science is important because it helps organisations identify issues they must solve, streamline management efforts, use resources more effectively, and develop roadmaps for achieving goals. You’ll find several assumptions or principles of management science that guide professionals in this field, including:  

• Problem-solving is central to management. 

• It is possible to quantify and describe managerial problems in mathematical terms. 

• Mathematical tools, techniques, simulations, and models can enhance problem-solving.

Originating from operations research, management science is interdisciplinary, involving two or more academic or professional disciplines. The disciplines that management science intersects with include engineering, game theory, psychology, project management, data science, and supply chain management. 

Did you know? Operations research, management science’s predecessor, was developed during WWII when the Allied Forces (Great Britain, the United States, and the Soviet Union) used mathematical models to improve military operations.

In your research into management science, you may come across similar terms like scientific management or business analytics. Note their distinctions in the table below: 

Careers in management science

With a degree in management science, you can work in various fields, from marketing and branding to finance, human resources, and data science. According to Glassdoor, the average median UK salary for management science graduates is £36,298 per year, rising to as much as £42,000 annually [1]. You can divide management scientist roles into more specific jobs. The most popular job titles include:

• Business analyst: Studies the market, determines a business’s profitability, and identifies solutions to a business’s challenges. 

• Data analyst: This person gathers and interprets data, highlights important trends, and reports findings to an organisation’s management. 

• Actuarial analyst: This person works in the insurance industry and uses data analysis and statistical modelling to calculate the probability and risk of death, accidents, and property damage.

• Finance analyst: Assesses the performance of stocks, bonds, and investments to advise businesses and individuals on their investment decisions.

• Programmer analyst: Tests, analyses, and maintains software applications to help businesses achieve their goals.

• Risk analyst: Analyses financial documents and economic conditions to determine the risk involved in business decisions and planned activities. 

• Research analyst: Collects data from varied sources to help organisations determine target markets and ideal pricing for products and services.

Your management science career path 

Management science could be an excellent career choice if you want to draw from multiple disciplines to solve business problems, take on a leadership role, and use analytical and critical thinking skills. 

Follow the steps below to make a start. 

1. Get a management science degree

Getting a degree in management science or a related field, such as business statistics or international marketing, can expose you to the important concepts, methods, skills, and techniques for pursuing a rewarding career. Depending on the degree programme, you can expect to take courses in statistics, financial accounting, systems analysis, data analysis, research design, statistics, marketing, operations research, decision risk analysis, and more. 

When researching management science degree programmes, decide what criteria will make a programme a good fit for you. You’ll find several options, with some degrees allowing you to tailor your programme to fit your career aspirations. 

2. Hone your management science skills

In addition to earning your degree, you can benefit from continuing to build skills, knowledge, and industry insight in the broad field of management science. In continuing your education, you can better narrow down an area of focus or identify a specific career track for applying your management science training, such as data science or project management. 

Outlined below are various approaches you can take: 

• Consider becoming a Certified Analytics Professional.  

• Obtain the CompTIA Data+ certification.

• Attend conferences from other organisations listed on the Conference Index. 

• Enroll in the IBM Data Science Professional Certificate.

3. Build a management science CV

Once you decide on a focus area or specific career track, the next step is to build a CV representing your capabilities. Be sure to list your education, certifications, specific skills, conferences you’ve attended, memberships in professional organisations, and other qualifications. 

6. Apply for management science jobs

Start by researching job openings on various career sites, including general sites like Glassdoor, Indeed, or LinkedIn. Try search queries like “management science careers,” “management science jobs,” “management scientist,” or roles in your chosen area of focus.

For each job listing, pay close attention to salary information, necessary qualifications, and the tasks and responsibilities you’d be responsible for. Tailor your CV to each position. Practice interviewing skills like answering different types of questions and researching a company. 

Learn management science with Coursera

Management science is an analytical profession that requires a science degree, additional certifications, and relevant experience. Online courses can be a great way to gain knowledge and skills in management science before or while pursuing a degree or postgraduate degree.

If you’re ready to pursue a postgraduate degree, check out the Master of Science in Management programme from the University of Illinois, offered on Coursera. 

Frequently Asked Questions (FAQ)