Business Analytics V/S Data Analytics
The entry of Big Data into the business world has brought a big wave of opportunities for data scientists all over the world. Their roles and responsibilities in the business firms’ operations have consistently grown in depths and breadths of the million amounts of data being examined. Gone were the days when they existed in the market but were lost in the backend rooms, obscured by the server room in the IT departments in the form of technologists, statistic expert or just a random tech guy. They were summoned to identify problems and provide solutions in a wake of seconds and then sent back into the dusty old hotwired rooms.
Now, data analysts are a rage in the business world. According to a known job portal, the growth rate of a data analyst/business analyst has sky rocketed to 4000%. The demand for the individual who possess the talents in depth understandings of advanced data analysis or engineering with a good mix of business awareness, domain expertise has never been higher.
However, to delve deeper in tot the technical aspects of data analysis and the career prospects it generates, one has to carefully differentiate between the prospective courses modules to achieve the reputed station of data analyst namely, masters in data analytics and masters in business analytics.
It is important to read through the similarities and differences between these fields when trying to fix a career in either data analytics or a career in business analytics. Some might be of views that they both share the same objectives of efficiency through data consolidating, but their core difference is a key to understand better. The interests, skills, practical implications and theoretical inputs provided in the course study should be brainstormed before going full time on one of these paths.
Ultimately the ones who earn a degree in business analytics or data analytics are required extensively in the workplace, data experts who wish a feather in their cap by going for an advanced degree can choose from the program that best suits their skill set and career goals. It believed that 40% of advanced data and business analytics job roles require a masters or a PhD. When searching out for higher education plan to polish your professional character, consider your long term goal and how it shall be achieved with the successful completion of a master’s degree in data analytics or business analytics.
Want to know which college is the best fit for your Masters in Business analytics/Data Analytics?
Take Our Free Profile Evaluation Now!
What is MS in Data Analytics?
In this modern millennia, data reign. Our travel plans, wedding planners, education, gaming info etc all runs through the wide network internet. Hence, an enormous amount of data is generated as a result of our intensive internet activities.
A data analyst is tasked to collect process and analyze the data at hand and interpret how it can be used to alter or reinvent business efficiency or solve problems.
MS in Data Analytics enables the students to increase your potential and moreover combines the concepts of computing, engineering, mathematics and business to develop the proactive problem solving skill. It also opens the doors of various industries who deal with computing data analytics such as healthcare, banking, government, insurance and management by allowing them to develop and assess strategies.
It accommodates the students with other inquisitive learners who are interested in the domain of analytics with either of their previous academic background, united by a streak of business related or technical aspect. As this course is comparatively new in many business institutions, opportunities post course study are yet to be assimilated in the minds of the young graduates apart from a glowing career and great salary prospect.
What is MS in Business Analytics?
A business analyst uses data to analyze and process the past performance of the company and further make practical strategies for business operations to make concrete decisions. By applying the insights analyzed from the processed data. Business Analysts singularly have a working expertise in statistical tools and programming.
They have a good capability to amalgamate diverse backgrounds and topics in their data analysis like business, IT, management, computer science or related fields.
Masters in Business Analytics is a degree that branched out of the bigger masters in management discipline courses. It is an interdisciplinary program that allows a student to enter to an amalgamated field of data analytics and business. It clubs the business management’s principles with the technical aspect of data analysis in order to give well rounded insights of business education. As this course is quite new for some business institutions, it is continually being updated and tailored to have a decent batch of data professionals.
A degree in business analytics helps you did deeper into the data sciences and business intelligence. Its major aim to change the heavy data inputs into actionable intelligence using the quantitative approach and statistics. In easier terms, it is made to mine data for quality material for business purpose, instead of harboring on past operations; it is more concerned with the predictive techniques of business performances and its markets.
Difference between Data Analytics and Business Analytics
A data analytic graduate program specifically focuses on mathematical and programming tools, skills and provides students with the knowledge that they would need to convert the firm’s unprocessed data into meaningful asset whereas business analytics graduate programs are ideal for professionals who wish to sustain in a business environment and get hold of a perfect blend of managerial functions, communicative skills and technical aspects.
When it comes to job functions of the both, data analysts’ career may be found in different firms including software development, web application development, e-commerce portals, finance etc. whereas business analysts roles can be found in further sub divisions of unique job titles; operations research, market research, financial analyst, statistics expert etc, each of these positions stand on primary departments of a big business company.
Data Analyst Skills
Business Analyst Skills
|Understanding of statistical methods||Statistical analysis software understanding|
|Use of R and/or SAS languages||Programming skills|
|Database Design||Effective communication|
|Analytic problem solving||Business intelligence and reporting|
|Machine learning Technique||Analytic problem solving|
|Knowledge of chosen industry for data research||Data mining and visualization|
Data analytics and business analytics share a certain similar goal of applied technologies and data to positively make the business efficient and effective. People who enjoy delving into the codes and data analysis can enjoy a flourishing career in data analytics whereas people who enjoy communication complex topics and applying active practical solutions will make a good fit for a business analytics career.
Both of these careers have bright future in the management world and the industries of today to help improve the business operations and work comprehensively under a dynamic environment. A master’s degree in any of the two will surely add excess of opportunities for any individual.
Want to Know How We Can Help to take Your Masters Application to Next Level?