Faculty of Economics, CMU Launches “Future Economist Incubator: Data x Biz” to Equip Students with Real-World Business Problem-Solving Skills

The Faculty of Economics, Chiang Mai University, organized Phase 1 of the Future Economist Incubator: Data x Biz Program from 26 November 2025 to 1 February 2026 at the Faculty of Economics, Chiang Mai University. The program was designed to enhance economics students’ capabilities in applying data-driven approaches to analyze and solve real-world business challenges, particularly within local service-sector businesses such as hotels and restaurants.

The initiative aimed to provide students with hands-on learning experiences through an Experiential Learning approach, enabling them to gain practical insights into business problems and develop essential skills in data collection, data preparation, data analysis, and effective communication of analytical findings.

A key component of the program was the Data x Biz Workshop Series, jointly organized by Econ CMU and Emphatise. The workshop series was structured to guide students through the entire business analytics process, from understanding business challenges and utilizing data to presenting actionable insights. The program consisted of four major modules:

• Data x Biz Problem – Business problem analysis and solution design using Design Thinking principles
• Data x Biz Data – Data collection, data preparation, and introductory data analysis
• Data x Biz Presentation – Data communication through data visualization and dashboard development
• Data x Biz Application – Applying data analytics to real business case studies in collaboration with industry partners

In addition to the workshops, students were challenged to demonstrate their analytical and problem-solving skills through The Future Economist Incubator Data × Biz Hackathon 2026. The competition required participants to work with real business datasets and complete the full analytical process, including market analysis, business strategy development, and financial forecasting, before presenting practical recommendations for business improvement.

The competition concluded with Team Coconut, consisting of Min Khant Kyaw Moe and Yoon Wadi Kyaw, winning the Champion Award. The team impressed the judges with their ability to transform data into meaningful business insights and develop strategic recommendations with strong potential for real-world implementation.

The Future Economist Incubator: Data x Biz program represents an important mechanism for strengthening collaboration between higher education institutions and the business sector in Chiang Mai. By positioning data as a key tool for business decision-making, the program empowers students to translate analytical knowledge into practical solutions while providing opportunities to engage directly with entrepreneurs, receive professional mentorship, and explore future funding opportunities for business development initiatives.