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Is An MBA in Business Analytics Right For You?

by gbaf mag
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Business analytics is a discipline of business and technology that utilizes information to help businesses identify and improve their performance, improve organizational effectiveness, drive organizational growth, and distinguish themselves from competitors. Business analytics helps in making business decisions based on analyzed data. It helps organizations build a strategy by finding relationships between the internal and external resources, and then using this information to guide them in their decision making process. In short, business intelligence or business analytics helps in taking an unbiased look at the whole organization. Through business analytics, organizations can uncover patterns and trends underlying their data, which in turn can make better business decisions.

Some of the key advantages of having business analytics applied in your organization are: The ability to leverage the collective intelligence of the organization, the access to structured data that is usually not available to the analyst, and the ability to make better quality business decisions based on the collected data. However, when applying business intelligence or business analytics to your company, it is important for you to hire professionals with relevant degrees in the subject. Such professionals would be:

Analytics Degree – Professionals with relevant degrees in business analytics can provide penetrating insights into your organization. These experts can analyze and interpret the collected data, allowing you to take the necessary corrective actions. For example, if you have collected historical data about customer satisfaction levels, an analyst can analyze these data to find out where improvements in customer service delivery need to be made. He/she can also provide you with insightful recommendations about how to make your products more user-friendly. These professionals can use advanced analytics technologies to create in-depth insights in areas that other analysts have not looked into.

Analytics Masters – These professionals have mastered the art of advanced analytics technologies. They are masters of extracting insights from huge databases, massive amounts of data, and complex systems. Advanced analytics professionals can give you unrivaled access to huge amounts of historical data, which can be used to conduct a wide-ranging research on your competitor’s activities. For this, they require detailed knowledge of their industry, extensive field experience, and above all, highly analytical skills. You should, therefore, choose experts who are masters of descriptive analytics and business intelligence.

Data Science degree – A data analyst must therefore, have a strong command on the various aspects of business analytics. He/she must be able to analyze large amounts of data quickly and efficiently. The analyst should also be able to conduct comprehensive research on a variety of business processes. In addition, he/she must be able to create meaningful graphics using MS Office software. He/she must be well versed in Excel and other forms of databases.

Master of Business Analytics (MBA) – Most organizations require their employees to have at least a master’s degree in business analytics. A business analyst with a master’s degree is considered to be a professional with extensive mathematical background. An MBA is the preferred option for those who are interested in advancing their careers or seeking higher compensation.

Data Science Masters – Data scientists professionals with an MBA can use their skills to provide business organizations with new and innovative insights. These professionals are excellent networkers because they can leverage their social network expertise to spread the word about analytic solutions. As such, they often play a key role in the marketing, IT, and analytics teams. An MBA specializing in data science provides a solid background in business statistics and business analysis, along with valuable insights into strategic management. This kind of MBA program will teach students how to conduct and interpret quantitative research.

Is a Data Science Master of Business Analytics Degree Right For Me? There are many reasons why obtaining a master’s degree in business analytics is a smart choice. The salary of analytics professionals with a master’s degree is generally higher than those with a bachelor’s degree. Online education programs are widely available to accommodate busy professionals. As a result, an MBA in business analytics is right for those who want to advance their careers in a rapidly changing field. A data-driven business requires talented people who can work independently and creatively to create innovative solutions to complex problems.

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