The Masters in Business Analytics is a university program designed to train professionals in the optimization of business processes, the implementation strategies for maximum quality data management, and increasing the quality of data for proposed uses.
If you would like to learn more about this incredible field and the degree programs that can lead you into it, our team encourages you to explore what is offered in the guide below. The path to becoming a professional in this field can be completed through in-depth course work and practice in traditional and online Masters in Business Analytics programs.
The ideal business analytics student should have an interest in the field of business, as well as some experience or desire to learn in the fields of data and information systems. Businesses rely on analyst within this field to assist with developing better strategies for analyzing data from consumers or marketing trends in order to develop the most profitable plans relevant to their service.
One of the most fascinating features about the Masters in Business Analytics is that it can teach students how to apply analytical skills in different types of organizations and businesses all over the country. Since a large majority of businesses use computer information technology and data storage during their daily operation, analysts in this field can be helpful resources to utilize along the way.
Online Master's in Business Analytics Programs
There are many different types of students with different needs currently enrolled in Masters in Business Analytics degree programs. The increasing number of students that may be balancing busy schedules with higher education makes it necessary for educational institutions to consider convenient options that can be useful to all students equally.
Online degree programs have been the answer to students' struggles in managing their inflow of cash alongside their desire to find better careers throughout their lifetime. These programs can provide you with the flexibility you need to work full-time, while still fitting in time for studying and training for a higher paying job in the field of business analytics.
If you have had some experience in online degree programs, you might be aware of the platforms used for teaching students virtually. Teachers and students can log in a few times a week through their university's course web page, read and complete assignments, and share ideas with other learners through supportive discussion boards.
Students that are seeking technology-related degree programs may be best-suited for online degree programs due to their increased knowledge of computer information systems and their benefits to the end-user. If it is convenience you are seeking with your education, online programs could be the right choice for you.
What is Business Analytics?
A degree in business analytics can make you a valuable resource for businesses within different parts of society. Professionals within this field can assist with making modifications to a company’s current marketing plan, online structure, purchases, and connections with the public.
Business Intelligence Combined with Statistical Analysis
In total, the field of business analytics is comprised of 2 different elements that combine for the optimum career experience. Students in this field should have extensive knowledge about how to investigate an organization’s historical performance (business intelligence) as well as information on how to make predictions about future performance (statistical analysis).
These 2 skills can assist you in performing an excellent overall analysis of a company’s progress, as well as give you more insight into how to develop a plan for positive future performance. The courses involved in this degree program were designed in an effort to help you gain the skills necessary for this purpose.
Helpful Skills and Knowledge
While working in this field, you can utilize skills such as descriptive analysis to establish a current state of the organization or business you are working with. This analysis can allow you to explore its current functioning, which can be a baseline for future planning.
Prescriptive analyses are used to develop assumptions about past behavior and apply what was learned to prevention in the future. The majority of work completed at this stage is through an investigation into previous performance, issues, and disturbances with productivity.
The culmination of these factors can result in a plan for future performance that includes increase positive results, deterring of challenges or hold-backs associated with sales or services processing, and the avoidance of repeated mistakes in data processing.
If you are interested in pursuing a specific career option after completing your Masters in Business Analytics, you might be interested in learning about different specialization tracks available to learners. Our team of educational experts has reviewed open and current programs in order to provide you with some commonly chosen concentration options listed below.
- Consumer Analytics
- Business Process Analytics
- Business Intelligence
- Information Systems
- Financial Analytics
- Accounting Analytics
- Marketing Analytics
Typical Master’s Degree Business Analytics PreRequisites
If you would like to be considered for enrollment into the Masters in Business Analytics program, you should be a graduate of an accredited undergraduate degree program to initially qualify. Depending on the institution that you are applying to, you may also be required to show proof of a bachelors degree in an IT or business-related field for entry.
The structure of the courses in this degree program may require that you have some previous knowledge of programming languages or general information about computer information systems, networks, and data management. One program currently open to new students includes pre-requisite requirements of languages such as Python, SQL, and AMPL.
The best way to prepare yourself for a future in business analytics is to begin your journey at the undergraduate level. Degree programs in computer programming, information technology, or data science could be great partnering degree options for your enrollment in this masters program.
Not all Masters in Business Analytics programs require that students have a certain type of bachelors degree to be accepted. If you are transitioning from another degree field, you might be responsible for completing 2-3 pre-requisite courses prior to beginning your degree program through these universities.
Typical Master of Business Analytics Courses
There is a multitude of online degree programs targeting upcoming business analysts in the U.S. One way that you can filter out these different programs according to what you require is through reviewing the current curricula in comparison to other programs.
Common courses that you might find within these degree programs are those focusing on the analysis of data in relation to marketing, accounting, or even business efficiency. Methods for reducing large amounts of data based on needs and the development of data management programs can also be helpful skills learned through course work in these programs.
The goal of online Masters in Business Analytics programs is to educate you on the many different methods, languages, and programs available for use within your specialized field. If you are interested in pursuing one of the preceding specializations in business analytics, we encourage you to seek out a degree program that is best suited for your career.
Our team of educational experts has reviewed numerous online degree program in this field in order to provide you with more in-depth knowledge into the business analytics curriculum. The list of courses below are actual classes included within online degree programs at this degree level, so read more about them to see what you might be involved with after becoming enrolled.
- Data Analysis: Courses in data analysis prepare learners for processes related to gathering data, organizing data, completing a description and analysis of the data, and providing it in a usable way to clients. This course includes topics related to statistics in data analysis, regression, forecasting, and data modeling. Students enrolled in this course may have the opportunity to engage in practice activities that introduce them to common data types and layouts utilized in fields of business.
- Decision Making: The beginning of this course may include a description of decision making in business analytics, as well as some examples of how decisions are made when focusing on the uses and interpretations of data. Current models used for decision making may be explored, including those that focus on the reduction of data for better segmentation. Students can explore the resulting elements of different types of decisions in different scenarios, as well as learn the tools necessary to analyze the needs of their clients prior to engaging in predictive and prescriptive analyses.
- Marketing Analytics: As a student of business analytics, you may be tasked with analyzing data for the purpose of contributing to important and effective marketing solutions. This course can provide an overview of the different types of data reviewed for marketing, as well as some of the tools available for analyzing customer preference, social media outreach, and product preference. The skills learned throughout this course can assist you with gaining more expertise in utilizing your analytical skills for creating helpful solutions to common marketing issues in the business domain.
Business Analytics Scholarships & Organizations
The field of business can be an incredible place for upcoming analytic professionals. Data science scholarship programs are exceptionally helpful for students at the master’s-level, since a lot of the financial aid available for graduates at this level are loan-based.
The largest provider of scholarship opportunities for students interested in pursuing careers in the field of business analytics are offered through specific universities. Most schools providing scholarships to upcoming students require that applicants have a history of excellence within their undergraduate degree programs and contributions to their community in the form of service or volunteering.
Professional organizations and analytics societies can also be great options for you to consider when looking for methods to fund your higher education. The Upgrade Online Scholarship is an example of one of these available programs that are available for students meeting certain qualifications and is one of many current seeking applicants for the award.
Alternative options for seeking scholarships can be found through your local community. Businesses that are seeking well-educated analytics professionals may offer tuition reimbursement options for employees interested in furthering their education.
Business Analytics Careers: Where Can You Work?
Business analytics graduates can find interesting employment opportunities that can engage their skills and expertise in a way that promotes success within their organization. What you have learned through a Masters in Business Analytics program can contribute to your utility for public businesses within your area and can possibly connect you with large organizations that are well known throughout the United States.
Organizations like Old Navy and Wal-Mart can employ analytics professionals in an attempt to learn more about their consumers – specifically in an online setting. Using the data analysis skills learned during your degree program, you can possibly explore the online activity of customers in order to learn more about their preferences and needs.
In some cases, business analytics professionals can research data from social media to find trends in data to help transform their method of service delivery. Business analytics professionals can be meaningful parts of research teams assigned to develop programs and software that is user friendly and helpful in product marketing.
Other areas of interest for new business analytics professionals can be found in general business areas like accounting, marketing, and management. Organizations utilizing technology during the normal course of their operation can utilize data management techniques for more efficient daily practice, data storage, and financial management.