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Why is Masters in Business Analytics a Good Career Option?

Going for a Master’s degree post your graduation is a rite of passage for any individual who wishes to earn a specialization for their career aspirations.

If you are good with novels, theoretical philosophies then Masters in literature is your option, if you are into video gaming and graphic designs of cartoons, then masters of the animatronics are your endgame, if you are a person who loves to earn expertise in Business and Management then a Masters in Business Administration is your way to go.

However, in the tone of a true millennial, doing an MBA in a top B school is so vanilla, like every other person is running to be called the chosen one for top-notch MBA programs.

But, what’s more, interesting while opting to be a part of management field is you can choose from a pool of innovative programs, like if you wish to manage the financial statements and investments of a company, then a master in finance is your cup of tea if you’re into data and scientific analysis go for Masters in Business analytics.

Here we will put more impetus on the latter degree as it is still undervalued when it is supposed to give you excellent career prospects.

If you find yourself to be good with numbers and excel at interpreting raw data as per the market requirements to formulate decisions for the firm then a degree in business analytics is worth your trials.

Every company requires an expert analyst who could transform meaningless bits of data into usable chunks of number which would provide them with a competitive advantage.

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According to the 2016 McKinsey global institute report, as the number of growing companies is required data to power growth and tap into new business goals, data scientists population is scarce. Currently, there is a shortage of 350,000 business analysts and data scientists which all the more skyrockets the opportunities for graduates to pursue a Masters in business analytics.
Our world is being shaped every second with the decisions, actions taken after making use of the information from the data collection that benefits the industries from healthcare, corporate, government agencies, etc.

With the use of the Big Data field, mass data collection is like a gold mine for companies, that is, if they have the right qualified professionals to sought through it. This makes a career in Business Analytics all the more unique.

However, the question arises, is it a good career option?

Overview

Masters in Business Analytics is a degree that branches out of the bigger Masters in Management discipline courses. It is an interdisciplinary program that allows a student to enter 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 into 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.

The program focuses on solving complex business problems and maintaining particular data. Students will be trained in Business Intelligence and familiarized with Data Analysis tools so that they can perform predictive modeling.

The course module is all about researching and analyzing past performances of the company then monitoring and strategizing for the future performance and taking decisive actions accordingly.

For instance, if a Hotel chain owner wishes to expand his operation on an international level by constructing a new hotel in a different country, then the business analysts can use the previous data to study the environmental, social, political and market implications of the place in order to set a correct time period to open the hotel for higher profits.

Why is Masters in Business Analytics a Good Option?

Like any other Masters course, a degree in Masters in Business Analytics comes with certain advantages. They are:

Good Demand– like discussed before, this course is new in some institutions hence it is quite popular among major recruiting firms/MNCs. An increase in the need for data analytics in the IT sector has led to these schools to offer this course.

Shorter Duration- Masters in Business analytics is 12-14 months (full time). It is also considered to be one of the shortest masters programs for an in-demand job.

Sincere Jobs Offer- as a business analytics graduate, you can opt not just for a firm’s personal analyst, but also for a market research analyst, statistics expert, financial data analyst, etc. so, a bigger pool of exploration awaits you.

Guaranteed Growth- According to a known US Bureau of Labor Statistics, business analyst job requirements will raise by 40% by 2030. So the opportunities in this field only rise progressively.

MBA versus Masters in Business Analytics

Like any other management study, every new master in management program goes under a hammer with a tight comparison with the uncrowned king of masters, an MBA.

Masters in business analytics differs from MBA as it is a specialized degree program that deals with collecting, managing, analyzing business data leading to strategize the found inputs into operational process hence takes a shorter duration (18 months) to complete compared to a full-time two-year program of MBA which requires full knowledge of overall business administration.

Business Analytics program requires its applicants to do a project or internship as it would help them to deal with real problems. In the program structure, the common courses are Data Analytics, Programming, Data Management, Statistics, etc.

Whereas in an MBA, students are required to complete an internship for work experience requisite in their application, also in the program structure, their courses are extensive ranging from Marketing, Accounting, Finances Organizational Behavior, etc.

Job profiles of both the programs vary too, a business analytics graduate can work as a data analyst, business analyst, intelligence analyst, and other related industries like investment banking, entertainment, etc.

Whereas MBA graduates can work on wide ranges of Business and Managerial careers like owning of Startup Businesses, Chief of Operations, Government Officials and more depending on their specializations.

Conclusion

Going for Masters in business analytics is a great option for those who wish to enhance their business research and data analysis as it gives them a platform to explore both the aspects.

Being new to the field of management course, this course provides growth, development, handsome salary packages resulting in good rate of investment.

The popularity of the course is increasing across the globe in USA, UK, and Australia.

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