It's probably just a way of saying that they need more math and data mining skills than your average software engineer with a BS or no degree at all.
For point of reference, check out http://en.wikipedia.org/wiki/Iron_Ring#The_Ritual_of_the_Cal...
> It is a symbol that reflects the moral, ethical and professional commitment made by the engineer who wears the ring.
I'm not an engineer myself and I wouldn't presume to call myself one unless I'd gone through the engineering training.
Am I being too pedantic?
I'm pretty good at making things work and bringing a lot of knowledge to any situation requiring my skills.
Does that make me an engineer? Does my lack of degree disqualify me?