What is Business Analytics?
The amount of data that companies collect gets bigger and bigger…… but Businesses may not always know How to use that data …. Than the company relies on a Business Analyst!
Business Analytics refers to skills, technologies, methods, and techniques which are applied to past data to derive insights which can be used for future decision making. Business analytics are performed in order to identify weaknesses in existing processes and derive meaningful data that will help a company to prepare for future growth and expansion. Business Analyst is required across all domains and industries. Business Analytics is an extremely high-in-demand profession which requires a professional to possess sound knowledge of analyzing data. Business Analytics requires quantitative methods and evidence-based data for business modeling and decision making.
Why build a career in Business Analytics?
While MBA has been popular masters level degree, it is not the only one. The choice to pursue a master’s in business analytics depends on one’s career goals, personal interest, return on investment, market opportunities and surely the love for DATA.
- Business Analytics Has Excellent Job Prospects
According to the McKinsey Global Institute (In a May 2011 report): “By 2018, the United States alone could face a shortage of 140,000 to 190,000 people with deep analytical skills as well as 1.5 million managers and analysts with the know-how to use the analysis of big data to make effective decisions.”
Google Search reveals galore of articles, blogs, and publications quoting Business Analytics jobs opportunities. Organizations of all sizes and domain are investing billions in analytics as it is the most important area in providing data insights for taking complex future business decisions. This is driving the demand for qualified Business Analytics professionals.
- Demand Supply gap in future
According to “The Quant Crunch” a study performed by Burning Glass Technologies, Business-Higher Education Forum (BHEF), and IBM, by 2020 the number of Data Science and Analytics job listings is projected to grow by nearly 364,000. Therefore, career opportunities will continue to grow exponentially.
However, most of the companies are finding it hard to find and retain suitable data analytics talent, while a few others are still unable to find the right fit.
Big Data is a Revolution, but do you know why? Since the beginning of big businesses, they have been collecting and storing data, but the amount of data that is generated now fairly exceeds the data generated previously. This also increases the need for professionals with the right education and experience.
This clearly shows that in the future, demand for business analytics talent would grow even further while the supply is still limited. There is no better time to prepare for a bright future in the fast-paced and exciting world of data and analytics.
QS World University Ranking: Masters in Business Analytics Rankings 2018
|1||MIT (Sloan)||Cambridge (MA)||United States|
|2||Texas (Mc Combs)||Austin (TX)||United States|
|3||USC (Marshall)||Los Angeles (CA)||United States|
|4||Minnesota (Carlson)||Minneapolis (MN)||United States|
|6||Manchester (Alliance)||Manchester||United Kingdom|
|8||Michigan State (Eli Board)||East Lansing (MI)||United States|
|9||Purdue (Krannert)||West Lafayette (IN)||United States|
|10||IE School of Human Science & Technology||Madrid||Spain|
1. MIT Sloan School of Management - Master of Business Analytics
Location: Cambridge, Massachusetts, United States
Duration: 12 to 18 months
Tuition Fees: $77,350
The MIT Sloan with support and leadership from the MIT Operations Research Center introduces a new, specialized one-year Master of Business Analytics program designed to prepare students for careers in business analytics.
Ranked first for its Master of Business Analytics degree, Massachusetts Institute of Technology (MIT) is known for its employability, alumni outcomes and thought leadership.
Sloan’s business analytics degree aims to prepare students to interpret and use data to solve business challenges, giving them the decision-making skillset needed for careers in various domains such as management consulting, financial services, technology, and healthcare. The business analytics program is a one-year course and is tailored for recent college graduates, or those currently still in an undergraduate degree, and looking for a master’s program. The program is STEM-designated. The master’s in finance program can either be completed in 12 or 18 months; the longer program also gives the opportunity of a summer internship.
2. The University of Texas at Austin McCombs School of Business - Master of Science in Business Analytics
Location: Austin, Texas, US
Duration: 10 months
Tuition Fees: $48,000
The University of Texas at Austin’s McCombs School of Business is ranked second for its Master of Science in Business Analytics (MSBA) degree, achieving a very high score for its Return on Investment (RoI) indicator for its master’s degree.
McCombs’ Master of Science in Business Analytics (MSBA) is a 10-month program that will show you how to harness vast amounts of data and use it to build better businesses. The program focuses on different disciplines such as applied statistics, computer science, and risk management. At McCombs students enjoy both support and recruitment from top companies such as Deloitte and Walmart. The master’s in business analytics is a STEM-designated program, providing a lot of opportunities like incredible networking opportunities and industry connections, and lots of support in finding employment upon post graduating.
3. USC Marshall School of Business - Master of Science in Business Analytics
Location: Los Angeles, US
Duration: 18 months
Tuition Fees: $63,096
Master’s in business analytics degrees from University of Southern California (USC)’s Marshall School of Business, is ranked third in the QS list. Its Master of Science (MSc) in Business Analytics is an 18-month. It provides students with the skills and knowledge to become experts in business analytics and data sciences and to advance their careers in this exciting and fast-growing field. It is a comprehensive program in which students gain in-depth knowledge of all areas of business analytics and big data analysis, learning programming tools and also learn how to present complex data for better future business decisions.
4. University of Minnesota Carlson School of Management - Master of Science in Business Analytics
Location: Minneapolis, Minnesota, US
Duration: 12 months
Tuition Fees: $61,650
The Master's in Business Analytics program at the Carlson School teaches students how to extract insights with creative data analysis, and then apply the results in real business settings. Students graduate with a unique combination of data science skills and business acumen to lead in an increasingly data-driven world. The school’s Master of Science in Business Analytics is a one-year program which utilizes experimental learning.
Also achieving a high score for the alumni outcomes indicator, 100 percent of Carlson’s 2015 and 2016 graduates received offers of employment within 90 days of graduating, ranked 3 in U.S. News and World Report 2018 ranking for management information system specialty, STEM designated, working for big name brands such as Amazon, Capital One, Google, Facebook, Airbnb, American Express, LinkedIn and Microsoft.
5. Melbourne Business School - Master of Business Analytics
Location: Melbourne, Australia
Duration: 12 months
Tuition Fees: AUD$55,000
The Melbourne Business School Master of Business Analytics gives you the skills and knowledge to become expert in not just maths and information systems but able to approach analytics with the strategic perspective of the business mind. Students will learn how to use SAS, R, Python, Tableau and other world-leading analytics software and gain the skills and knowledge needed to become stand - out data scientists. This advanced, one-year, full-time degree focuses on quantitative methods and the role of data in decision-making. You will learn how data can drive decision-making through statistical and quantitative analysis, explanatory, and predictive modeling and fact-based management. Melbourne Business School achieves one of the highest scores in the top 10 for the class & faculty diversity indicator, with women making up 43 percent of class members. After completing the program, you will receive a Certificate in Business Analytics from SAS in recognition of your skill in using its world-leading analytics software.
6. Alliance Manchester Business School - MSc Business Analytics
Location: Manchester, United Kingdom
Duration: 12 months
Tuition Fees: £21,500
Ranked sixth for its MSc Business Analytics degree, the University of Manchester’s Alliance Manchester Business School was one of the UK’s first business schools, established in 1956. Entry to the courses is competitive as they look to admit highly talented students with great potential. When assessing your academic record, they consider grade average, position in class, references, and standing of the institution where you studied. In this course, you will gain vital knowledge and practical skills to become a professional operations, project or supply chain manager in a globalized environment. Alliance Manchester is also known for its leadership and alumni outcomes, with students graduating with the analytical skills and maximum placement.
7. Warwick Business School - MSc Business Analytics
Location: Coventry, UK
Duration: 12 months
Tuition Fees: £27,750
Warwick Business School (WBS) is ranked seventh for its MSc Business Analytics degree. In this course, you will gain insights from large data sets using statistical methods, optimization techniques, and predictive models, and apply these to business problems. The school’s MSc Business Analytics degree includes a collaboration with software developer SAS to provide detailed information on data mining. One also gains an understanding of the role of business analytics, improve their business acumen and communication skills, and get some research experience through the projects. A research project allows you to explore a topic critical to effective decision-making in organizations. In this course, students also take part in a consultancy project and a research project to tests your ability to assess a problem and adopt the best approach to tackling it, as well as your client liaison and management skills.
8. Michigan State University Eli Broad College of Business - Master of Science in Business Analytics
Location: East Lansing, Michigan, US
Duration: 12 months
Tuition Fees: $39,000
The main themes of the program focus on business strategy, data management, and experiential project consulting. The school’s business analytics degree is a STEM-certified course designed to give training and hands-on experience to students in multiple areas of the data science field such as descriptive analytics, predictive analytics, and prescriptive analytics. It also includes corporate-sponsored projects, allowing students to gain real-world experience and hands-on skills. Graduates from the program have landed employment opportunities in a wide range of industries, such as consulting, automotive, consumer products, retail, and financial services. Students will be taught by leading faculty members from the Broad College as well as the university’s colleges of Natural Sciences and Engineering. For the Class of 2016 graduates, the average annual salary at graduation was $85,200 with 100% of students been placed.
9. Purdue University Krannert School of Management - Masters of Science in Business Analytics and Information Management
Location: West Lafayette, Indiana, US
Duration: 11 months
Tuition Fees: $47,786
For decades, the Krannert School of Management has used an analytical business approach to develop industry leaders. Purdue University’s Krannert School of Management’s Master of Science in Business Analytics and Information Management (MS BAIM) is a STEM-certified, 11-month program which is designed to educate students in information technologies and analytical techniques. The program uses experiential learning and group projects to stimulate learning. Such projects include the Krannert IBM Watson Personality Insights Prototype. Students will also learn how to use a variety of software tools in business and will apply what they are learning to real-world problems through experiential learning. Krannert is known for its employability, with 92 percent of its Class of 2017 students accepting job offers within 180 days of graduating. Graduates from the Krannert School of Management have gone on to work for a huge range of companies, such as Amazon, HSBC Bank, Nielsen, ZpyMedia and EXL Services.
10. IE Business School - Master in Business Analytics & Big Data
Location: Madrid, Spain
Duration: 10 months
Tuition Fees: €35,200
The master’s in business Analytics and Big Data program helps in developing future data scientists, learning skills to extract relevant insights from data using advanced analytics to drive decision-making processes.
A 10-month program, the program is divided into 3 terms that combine subjects from 4 key areas of knowledge and skills needed for professionals in data science and analytics. The MBD course includes three intensive team challenges, including one set by multinational technology company IBM, to give students practical experience working directly with industry experts. IE Business School achieves a very high score for its alumni outcomes, with 60,000+ network of alumni worldwide. 90 percent of students get employment in three months after graduation, mainly in the consulting, technology, manufacturing, healthcare and media industries.