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Jan 17, 2017 06:12 AM EST

Later this fall, the Georgia Institute of Technology will be introducing its newest post-graduate program: a model program that will allow students to have an online master's degree in analytics.

According to the Institute's News Center, the program formally known as Online Master of Science in Analytics (OMS Analytics) will be developed and delivered in collaboration with the leading MOOC provider, edX.

One of GeorgiaTech's top 10-ranked program, will accept 250 applicants for the fall semester and applications were made available since January 12.

This new program will follow the older Online Master of Science in Computer Science (OMS CS) which was launched earlier back in 2014 and costs only a fraction of its regular in campus counterparts, $36,000 for in-state and $49,000 for out of state students. OMS Analytics will cost less than $10,000.

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Inside Higher Ed reported that the Board of Regents approved the program last week and it is an interdisciplinary program that will involve collaborations between: between Georgia Tech's College of Engineering, College of Computing and Scheller College of Business.

Rafael L. Bras, provost and executive vice president for academic affairs at Georgia Tech highlights the importance of data and its proper extraction and interpretation and notes that analytics is needed to solve most problems in any field or discipline.

Prof. Joel Sokol, OMS Analytics program director and associate professor in the Stewart School of Industrial and Systems Engineering GeorgiaTech also agree on the critical role analytics play in most of today's different business facets.

OMS Analytics foundational course will be the Analytics: Essential Tools and Methods MicroMasters program both of which will be developed by edX and the MicroMasters courses will be offered to all as a stand alone credential.

Nelson Baker, dean of professional education also noted that most students are now seeing the value of continuing learning in the Institute with about 20,000 enrollees from 100 countries to their different programs last year being working professionals.

GeorgiaTech maintains however that they are careful when it comes to creating more OMS programs primarily because of funding concerns and also because they want to draw the best demographic and enrollment for their programs.

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