Master's Degrees in Marketing Analytics
Last Reviewed/Updated: May 17, 2021
Market research is one of the largest-growing professions, and that is thanks to emerging big data and the analytical processes created to gather and parse through information to gain an upper hand.
Simply put, marketing analytics offers the ability for organizations to determine if it is worth distributing certain goods and services, or merging with and acquiring other companies. Specifically, data analytics will paint the picture on data gathered by the company, such as why certain aspects of the company are successful and determining what would succeed through predictive modeling.
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Master’s in Marketing Analytics Programs
It is imperative for employees to always be looking at the latest marketing information available, knowing all the tools necessary to mine through various structural forms of data (and developing machine learning and artificial intelligence in order to gather information at a higher rate), and determining what data visualizations are necessary to present data accurately and effectively.
Are There Online Masters Programs focused on Marketing Analytics?
Yes, there are multiple options for online Masters in Marketing Analytics programs. We have reviewed some of the top and best known programs in the area.
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University of Denver
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Northern Illinois University
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American University Master of Science in Marketing Analytics
The Kogod School of Business offers a specialized Master's degree in Marketing Analytics. The curriculum is divided up into five analytics courses, five marketing courses, and two on-campus practicums that are completed all within 15 months. This program is geared toward professionals that already have marketing experience and are looking to make data-driven decisions and utilizing data analysis for marketing purposes. The curriculum is accredited by the Association to Advance Collegiate Schools of Business (AACSB).
Admission requirements for the program include a Bachelor's degree, personal statement, letters of recommendation, transcripts, and latest resume. GRE or GMAT scores are optional, but not required. There are four start dates throughout the year for those entering this specific program. Classes are handled through MarketingAnalytics@American with live classes and asynchronous, weekly coursework.
University of Texas - Dallas Master of Science in Marketing - Marketing Analytics and Consumer Insights
The Naveen Jindal School of Management offers a Master's in Marketing with a specialization track into Marketing Analytics. At the completion of the program, graduates will be able to create predictive models in order to provide recommendations to the organization, how to optimize processes to save time and money, and discovering and utilizing all forms of structured and unstructured data to gain a marketing advantage. The program is geared toward those that already have related work experience and are looking to pursue higher-level employment opportunities, such as a marketing director or chief analytics officer.
36 credit hours are required to complete the program and the schedule is flexible with both online and on-campus courses, and there is an option to complete the entire degree online. Core courses include the observation of consumer behavior, and methods that use statistics and data analysis. Similar tracks to consider within this Master of Science in Marketing include Advertising and Branding, Digital Advertising and Marketing, and Marketing Management. The curriculum is accredited by the AACSB.
Penn State University Master of Professional Studies in Data Analytics - Marketing Analytics
The Penn State World Campus provides a 30-credit online program that has a deep dive into the use of analytical tools to create and maintain databases and to help make data-driven decisions for the organization they work for. For the Marketing Analytics specialization, the following courses are required: Driving Business Success with Marketing Analytics (MKTG 811), Evaluating Marketing Communications in the Digital World, and Data-Driven Customer Acquisition and Retention. Along with the core curriculum, there are three elective courses to customize the degree within topics such as analytical programming in Python, cleaning structured and unstructured data, and regression methods.
An alternative, abbreviated program is the Graduate Certificate in Marketing Analytics, which requires 12 credit hours to complete and can also be fully completed online within a year. The curriculum has the three courses required in the specialization for the Master's degree and one more course: Analytics for Brand Management and Customer Experience. Three of these four courses (not MKTG 811) can count for credit for those that pursue a full Master's degree in the future.
Southern New Hampshire University Master of Science in Marketing - Marketing Research and Analytics
Another fully online program is through SNHU's MSM degree with an analytical specialization. Completing this program will give graduates the ability to work with organizations to create goods and services for certain communities based on data analysis. They should use both qualitative and quantitative data to create these plans that are both legal and ethical, and compliant with company standards. The program can be completed within 15 months by taking two courses during each 10-week term, and courses are asynchronous and accessible at any time of day to satisfy any scheduling needs, but there are weekly assignment deadlines.
There are five different times that students can gain admission into the program with five term sessions per calendar year. Admission requirements do not include GMAT or GRE scores, but prospective students must submit an application, transcripts from all schools, and a personal statement that includes an undergraduate GPA. At least a 2.75 cumulative GPA is required for full acceptance, but students can get in on a limited basis between a 2.00 and 2.75 cumulative GPA. This curriculum is accredited by the New England Commission of Higher Education (NECHE).
Many of the common courses that are found within a Marketing Analytics degree will focus on strategy. This includes analyzing brands and how effective they are to companies and consumers. These courses will study how valuable certain brands are based on location and various demographics and will look at a number of examples to showcase how some strategies have worked and failed. Business intelligence courses provide the education needed to look at how the landscape is changing and what companies can do to adapt through analyzing available data and looking into predictive models.
All of these marketing skills require the education around the tools used in analysis. This includes how to mine data from various raw sources that are often unstructured and converting it into usable data for company improvements and gaining an edge in competition. Some common tools needed are the ability to program algorithms and query data, being able to convert technical information into reports and presentations for shareholders and higher management for recommendations, and looking at how outside sources such as social media and advertising has made an impact on an organization's goods and services.
Identifying consumer behavior patterns through various surveying methods are also imperative to run successful advertising campaigns. It is important to understand how to adapt to certain trends, such as the ongoing push to make products or offer services that are more economically friendly. Using marketing analysis can determine where specific trends exist more frequently and whether or not it is worth upgrading or changing processes.
In quantitative methods, students analyze and interpret statistical analysis through the use of mathematics, sampling, theories, and hypothesis. These methods focus on the collection of data and the creation of models that depict the data that is found. Presenting factual information that can directly correlate with each other, such as sales in a specific location or along a demographic, is what marketing analysis is focused on, but qualitative methods that explores the reasoning behind the data are also explored.
How to Begin a Career in Marketing Analytics
Most positions within marketing analytics, such as a market analyst, database analyst, and search engine strategist, expect candidates to hold a Bachelor’s degree.
Choose a Path
Common fields of study in marketing analytics are business administration, computer science, economics, and statistics. All the typical data science coursework will be utilized with these jobs, such as Python and R programming, querying databases, data mining, and data modeling. Soft skills that are needed for any position are being able to think critically and having a firm grasp on the content at hand when it comes to analyzing consumer data, and having the ability to communicate complicated statistics with other parties.
Consider a Master’s Degree
Since marketing analysis is one of the faster-growing occupation segments within data science, obtaining a Master’s degree is a way to stand out from the competition and to pick up one to two years of additional education that is helpful for deeper analysis, applied marketing research, and managerial roles.
Most of these higher-level programs are geared toward those that need to continue their professional job. Courses are available in the evening hours or during the weekend, or they have opportunities to complete coursework online. In many cases, these programs will need at least a few years of professional experience in order to gain admission, and they can serve as a way to transition job roles or to advance to a more senior position.
Enhance Through Certifications
Instead of completing a full program, there are opportunities to gain specific certification or graduate certification from various universities. In many cases, the same university that offers a Master’s degree with a concentration in marketing analytics will have a certification process for that topic. Other types of certification comes from the Insights Association and their offering of the Professional Researcher Certification (PRC). This specialized testing is specifically tailored for marketing research and analytics, which includes the latest developments in the sector.
Important Organizations and Associations
The Market Research Society (MRS) is a group of hundreds of research and analytical companies that are partnered and follow the association’s Code of Conduct. This establishes rigorous standards that are constantly updated, and as they are based in the United Kingdom, now coincide with the Data Protection Act that was passed in 2018. Accreditation is based on how the companies are able to develop their employees over time, how optimized they are within business intelligence, and this can lead to extra benefits for employees.
The Insights Association has more certification opportunities than just the PRC. There are two specialty certificates from the Marketing Research Association and Research Rockstar in Qualitative Research Principles and Quantitative Research Principles. Either pathway has a set of five courses that are completed online and are more focused on qualitative methods or quantitative methods. After registering for the courses, they must be completed within 16 months to receive the certification. Each course is held once per quarter, making it flexible to take any course at any time.
Marketing Analytics Career Options
Market Research Analyst
Researchers that help determine what goods or services an organization should offer based on predictions of consumer reaction. They will gather and analyze various amounts of data available and determine what strategies should be used within specific locations and other demographics. Information is collected in multiple methods, such as sales reports, interviews, surveys, and social media, and the analyst must present this information in a clear way to other members of the company and stakeholders. According to BLS, there is 20 percent growth expected in this position between 2018-28.
Digital Marketing Specialist
Manages the online advertising aspect of an organization in order to grow their consumer base and to maintain retention. These specialists will observe marketing trends with online websites, streaming video, and social media and create strategies for their goods and services in order to have an edge against the competition. They will frequently work with other departments and they produce reports and present their findings and recommendations to others. According to Glassdoor, the average pay for digital marketing specialists are making just under $61,000 per year.
Director of Marketing
Also known as chief marketing officer, this executive position oversees the entire marketing segment of an organization. Their duties can consist of various aspects of the department, such as analyzing market research, creating and developing advertising campaigns, and working with other departments to create a profitable strategy. They must keep up to date on the latest marketing trends on many platforms and find ways to eliminate costs.