In the dynamic world of modern business, data analytics is one of the most important tools that companies have available to them. Organizations of all sizes and across all industries rely on data science to understand their customers so they can develop products that meet their needs.
As a result, there’s an increased demand for business professionals with an expert-level, skills-based understanding of business analytics. Now may be the best time to consider pursuing a business analytics degree.
What Can You Do With a Business Analytics Degree?
An MBA in Business Analytics is a graduate degree program that can allow you to narrow the focus of your career and specialize in data science and business intelligence. When you graduate with this degree, you are positioning yourself as a prime candidate for strategic roles across a wide range of sectors, including finance, healthcare, technology and marketing. Most organizations are looking to harvest accurate data and analyze it to improve their performance, leading to a high demand for professionals with an in-depth understanding of business analytics.
What Is the Scope of an MBA in Business Analytics?
When you graduate with an MBA with a specialization in business analytics, you are qualified for a vast range of leadership positions in organizations that are seeking skilled individuals with an expert understanding of data science. According to Indeed.com, business analytics graduates will find that there are jobs available in a variety of sectors, such as marketing, research, programming and more. You will likely find that you are able to combine your prior professional experience and personal interests with the advanced knowledge and skills that you acquire throughout this degree program, allowing you to customize your career path and elevate your prospects in the future.
Is an MBA in Business Analytics Worth It?
Most students who pursue an MBA in Business Analytics are looking to fine-tune their career and open the door to management positions in their chosen sector. While it is an investment of your time and financial resources, you will likely find that the personal satisfaction that comes from earning this degree, combined with the professional advantage it offers, makes the effort worthwhile.
5 Reasons to Pursue a Business Analytics Degree
If you are wondering if now is the right time to begin a graduate degree program, then you might consider these five reasons to pursue a business analytics degree online:
1. The Demand for Business Analytics Professionals
The need for business analytics professionals is rising across all industries, even those that are not necessarily directly related to business. Modern technology and consumer trends require organizations of all sizes to consider the importance of harvesting data and analyzing it to craft an actionable, results-driven business plan. Naturally, the need for business analytics professionals has increased.
According to the Bureau of Labor Statistics, the demand for business analytics professionals at the management level is rising significantly. Between 2021 and 2031, the BLS anticipates an 11% growth in the number of jobs available in this field. Compared to similar professions, this is much faster than average.
In addition to there being demand for professionals with an expertise in data science and business intelligence, this field also offers graduates the possibility of increased earning potential. In 2021, the median salary for a management analyst was $93,000. As an MBA graduate, you may be qualified for upper-level positions in an organization, some of which may offer a salary that is higher than the average for this field.
2. It Amplifies the Value of Your MBA
Earning a general MBA degree is a huge accomplishment that allows graduates to pursue professional opportunities that would otherwise not be available to them. However, there are many reasons to consider specializing with a business analytics degree.
A degree in business analytics amplifies your MBA by:
- Allowing you to take focused courses that will be relevant in your chosen career field. When you earn an MBA in Business Analytics degree online, you will complete courses such as databases and data warehouses, data mining and analytics and advanced data analytics.
- Giving you an opportunity to dive into the field of business analytics through the lens of management and leadership.
- Preparing you for niche roles in the data analytics industry. If you are hoping to expand your career in data science, then this program will prepare you for those roles that require additional professional and educational qualifications.
3. Versatile Career Options Available Post-MBA
Perhaps one of the most unique aspects of this specialized MBA program is that it prepares you for niche roles without pigeonholing in a specific industry. According to LinkedIn, some of the career options that may be available to you after you earn your MBA degree in business analytics include:
- Marketing Strategist — A marketing strategist is responsible for creating and implementing marketing campaigns for an organization. They must be able to collect and interpret data related to their target audience to develop a campaign that is relevant and effective.
- Financial Analyst — A financial analyst is a professional who is employed to guide a business through short-term and long-term financial decisions. According to Forbes, individuals in this role must be able to harvest historical financial data and analyze trends to offer insight to their clients. Their data analysis efforts allow their clients to perform risk assessments and identify opportunities to grow their financial portfolios.
- Human Resource Analyst — A human resource analyst plays a critical role in any HR department, as they are responsible for interpreting data to streamline office operations. They are often responsible for creating a hiring and retention strategy based on employee data and relevant industry trends. This is a role that requires not only a working knowledge of human resources management but also the advanced technology skills acquired through an in-depth graduate school program.
- Healthcare Analyst — A health care analyst fills a significant gap that exists in the healthcare industry by working to collect and analyze data to streamline operations and improve the patient experience. The healthcare field is constantly evolving and reshaping itself, making the role of a healthcare analyst more important than ever before. A healthcare analyst is a data science professional who harvests data from patient records, insurance records, survey results and market research to discover what can be improved within the healthcare setting. A healthcare analyst provides administration with actionable insight into how they can enhance the patient experience while retaining high-quality staff members.
- Technical Analyst — A technical analyst is an ideal role for an MBA graduate who is passionate about technology and computer science. A technical analyst collects and interprets data to ensure that all computer systems and processes are up to date and working properly. A technical analyst is a valuable professional in any industry, as nearly every sector relies on computer technology to function.
Through this MBA program, you will learn the best business analytics practices to prepare you for any role that you choose to pursue after graduation. As the field of data science begins to grow and the need for business intelligence becomes more prevalent, the need for qualified professionals who know how to lead teams of individuals will continue to increase.
4. It Offers Accessibility and Flexibility With Learning
There are many professionals who want to get an MBA degree to enhance their career prospects, but they do not think they have the time or ability to complete this intensive graduate degree program. At The University of Tennessee at Chattanooga, we offer our business analytics MBA degree online to allow modern learners to enjoy a flexible and versatile program. Not only is the coursework delivered completely online, but students can choose from a part-time or full-time option, making it feasible for working professionals to begin a business analytics degree.
5. It Allows You to Stay Ahead in the Age of Data
Data is the driving force behind the vast majority of decisions that businesses are making today. When you earn an MBA in Business Analytics, you are going to benefit from a skills-based education that focuses on the latest tools and techniques in the industry. As data continues to shape and evolve the business landscape, you will be ahead of the curve and able to provide any organization with value-added contributions based on your expertise in the field. You will have the ability to promote yourself as a team player who can fill a critical role in helping the organization reach its targeted goals.
Learn More About UTC’s MBA in Business Analytics
At The University of Tennessee at Chattanooga, we strive to empower our students with the skills they need to meet the demands of today’s ever-evolving economy. Our MBA in Business Analytics is designed to allow aspiring business leaders to understand the vital role that data science plays in business intelligence and to give them the skills necessary to become an expert in business analytics. Request more information about our MBA curriculum and learn more about your ability to specialize your graduate degree program today.