Northwestern Mutual, Marquette University and the University of Wisconsin-Milwaukee are partnering on a near $40 million venture to accelerate data science research and technology in Milwaukee, which they say will advance Milwaukee as a tech hub and create a talent pipeline for businesses in the region.
The research and science stemming from the new Northwestern Mutual Data Science Institute will aid companies and organizations in using analytical data to improve productivity. The technology can be implemented across several industries, including health care, consumer marketing, financial services and crime, officials say.
The institute will be funded through a $15 million contribution from Milwaukee-based Northwestern Mutual and its foundation over the next five years. Marquette and UWM will each invest more than $12 million in data science education and research. The money from Northwestern Mutual will be used to support an endowed professorship at each university, research projects, new data science faculty, development of expanded curriculum, a K-12 STEM program, pre-college programming and computer hardware and software programming.