A degree in business analytics is a specialized program that equips students with the skills and knowledge to analyze data and use it to make strategic business decisions. This degree blends areas like data analysis, business intelligence, and information management, offering a comprehensive understanding of how to interpret and leverage data in a business context.
Students pursuing a business analytics degree learn about various tools and software used for data analysis, data visualization, spreadsheet modeling, and more. They develop proficiency in programming languages like Python, R, and SQL, and gain a deep understanding of machine learning, artificial intelligence, and big data.
According to a report by IBM, jobs in data science and analytics are projected to grow by nearly 364,000 listings to approximately 2,720,000 by 2020. This underscores the growing demand for professionals with a business analytics degree.
Is a Business Analytics Degree Right for You?
To excel in a business analytics career, you need to have strong analytical skills, an aptitude for problem-solving, and a keen interest in working with data. It is also advantageous to be able to communicate complex data findings in a clear, understandable manner to non-technical colleagues or stakeholders.
For entry-level positions, educational requirements typically include a bachelor’s degree in business analytics or a related field. Employers may require a master’s degree or significant work experience in the field for more advanced positions.
Top 10 Careers in Business Analytics
Exploring a career in business analytics? Here’s a look at the top 10 rewarding jobs you can get with a degree in this dynamic field.
Data Analysts are the backbone of any analytical operation within a business. They collect, process, and perform statistical analyses on vast data sets to help businesses understand their customers’ behaviors, market conditions, and internal operations. This role often involves creating detailed reports and visual presentations to help businesses make more strategic decisions.
Business Intelligence Analyst
Business Intelligence Analysts provide a bird’s eye view of a business’s performance by using data to track and monitor key performance indicators. They suggest methods for improvement and often use data visualization tools like Tableau or Power BI to present their findings in an easily digestible format. Their work helps executives and managers make informed decisions to drive the company’s success.
Marketing analysts are a successful marketing team’s secret weapon. They analyze data to learn about customer behavior, market trends, and the effectiveness of marketing campaigns. By analyzing customer behavior and market trends, they can shape strategic marketing decisions and help businesses reach their target audience more effectively.
Operations Analysts are all about efficiency. They concentrate on a company’s internal processes, using data to identify inefficiencies and bottlenecks. They then recommend solutions that improve productivity and reduce costs, helping businesses operate more smoothly and profitably.
Supply Chain Analyst
In a world where timely delivery can make or break a business, Supply Chain Analysts are crucial. They use data to optimize every step involved in producing and delivering products or services—from procurement of raw materials to delivery to the end customer. Their goal is to improve efficiency and reduce costs within the supply chain, ensuring businesses can deliver high-quality products on time and under budget.
Risk Analysts are the guardians of a business. Using data, they identify and evaluate potential risks faced by a business, whether financial, operational, or market-related. They help businesses mitigate these risks and make informed decisions, protecting the business’s assets and reputation.
Financial Analysts are the fortune tellers of the business world. They use data to analyze a company’s financial performance, assess risks, and guide investment decisions. They can work for businesses, investment firms, or individual clients, providing valuable insights that influence financial strategies and decisions.
Management analysts, also known as management consultants, are business problem solvers. They use data to make recommendations on how to improve an organization’s efficiency and profitability. They advise managers on reducing costs, increasing revenue, and improving profitability through strategic changes and initiatives.
Data Scientists are the data world’s elite forces. They are advanced data analysts who use complex mathematical models, algorithms, and machine learning techniques to generate insights from data. They often work on predictive modeling and machine learning projects, pushing the boundaries of what businesses can achieve with data.
Healthcare Data Analyst
Healthcare Data Analysts are at the forefront of improving healthcare delivery and outcomes. They analyze patient data, treatment plans, and outcomes to find ways to improve healthcare services and patient experiences. In a field where every decision can impact human lives, their work is incredibly valuable.
Each of these roles offers different opportunities and challenges, but all require a solid understanding of data analysis and the ability to apply it in a business context.
Is Business Analytics a Good Major and Is It Worth It?
The field of business analytics has grown significantly over the years, with businesses increasingly relying on data-driven insights to make strategic decisions. As a result, a business analytics degree is now a valuable asset in today’s job market. According to Bridgeport University, and several other sources, the consensus is that a degree in business analytics is indeed worth it.
To begin with, a business analytics degree provides students with transferable, in-demand skills such as data analysis, predictive modeling, and data visualization. These abilities are transferable across industries, significantly increasing your employability.
Secondly, the demand for business analytics professionals currently outweighs the supply. Businesses across all sectors are seeking professionals who can interpret large amounts of data and use it to inform strategic decisions. This high demand coupled with a shortage of skilled workers means that business analytics graduates often command competitive salaries and enjoy strong job prospects.
Moreover, the business analytics major is not just about technical skills. It also teaches students to recognize patterns and trends, a critical skill in leadership roles. This means that a business analytics degree can help you advance in your career and take on leadership roles.
Finally, certifications in tools like Tableau, Power BI, and Salesforce can supplement a business analytics degree and make you even more desirable to employers. Such certifications demonstrate your practical skills as well as your commitment to staying current in this rapidly changing field.
In conclusion, a business analytics degree is a good major and is certainly worth it. It provides a solid foundation in data analysis, offers strong job prospects, and equips you with the skills needed to excel in a data-driven business environment.