Business analytics is becoming a popular field of study for students interested in a graduate degree that combines the business acumen of an MBA program with the quantitative and computer skills of more technical degrees. Below are some commonly asked questions about this interesting new field.
What is Business Analytics?
With advancements in technology, more and more data is being created by companies across all industries. It is a potential goldmine of information that can give businesses a competitive edge if they can analyze it and apply it to improve their operations. Understanding how to analyze data to make informed business decisions is the main idea behind Business Analytics.
What classes will I take in a graduate program?
Business Analytics graduate programs provide students with the necessary quantitative, computational and critical thinking skills to become experts at manipulating data to inform business decisions. During your graduate program you will gain exposure to innovative methodologies, powerful computing and visualization resources, and real-world applications that support data-driven decision making. Most curricula provide classes in foundational business concepts as well as classes focusing on analytical and statistical modeling and data management. To get a better understanding of what you will learn in these types of programs check out the curricula at George Washington University and Rensselaer.
What academic background do I need to apply for an MS program in Analytics?
Typically, students entering these programs have backgrounds in engineering, mathematics, or accounting; however any student with computing, mathematics, statistics and probability in their background are usually eligible to apply. Additionally, most programs only require 1-3 years of work/internship experience.
What jobs can I get with a MS in Business Analytics?
This is a great degree for people who are seeking a blend of business-related tasks and data analysis. In fact, Glassdoor ranked Data Scientist as the number one job in America in 2018 with a median salary of $108,0000. Graduates from these programs usually receive jobs as Data Scientists (with an emphasis on computer science or analysis), Data Business Analysts, Quantitative Modelers, or Business Consultants.
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