MBA students often pursue a specific concentration in order to enhance their skills in a particular field and be more marketable when applying for jobs in that industry. Amongst some of the most popular MBA degree concentrations that universities offer is a concentration in data analytics. At UTC’s Rollins College of Business, we have found that many students choose to pursue the business analytics concentration due to the high demand for analytics professionals in various industries. While the need for analytics professionals is booming in all industries, this is particularly true of the healthcare field. As advances in technology, medicine, and medical practices surge, data analysts are more necessary than ever for healthcare planning, efficiency, and efficacy.
Professionals working in data analytics focus specifically on the procurement, management of large sets of data, and interpretation of that data. In a hospital or healthcare facility, this is integral to proactive administration and strategic planning. A combination of prescriptive analytics, data mining, artificial intelligence, and predictive modeling are used to formulate hypotheses for circumstances varying from disease outbreaks to the availability and demand of hospital resources. In essence, data analysts are able to procure historical data and compare it to current data in order to draw conclusions and problem solve for the sake of service optimization. This extensive research aids in administrative efforts, such as planning and risk management, as well as patient-centered research geared towards quality and affordable care.
Additionally, the need for analytics professionals in the healthcare industry extends beyond hospitals and other healthcare facilities. Studies show that insurance and pharmaceutical companies also have a high demand for working professionals in the analytics field. Through data mining and research, insurance and pharmaceutical companies are better able to track trends in the healthcare industry and assess statistical information for the sake of resource availability. From a health insurer’s perspective, this can assist in determining cost and premium information for the consumer. Pharmaceutical industries, on a different note, can use this data and its conclusions to expedite the process of drug advancement and progression.
The Rollins College of Business at UTC is proud to offer the Online MBA: Business Analytics and the Flexible MBA: Business Analytics MBA degree programs. Students in these programs complete data analytics coursework pertaining to data extraction, data transformation, data mining, quantitative analysis, predictive modeling, data manipulation, and data exploration. This business analytics curriculum is designed to give students a specialized focus in the field of big data, viewed through a business lens. Furthermore, by earning an MBA degree with a concentration in business analytics, our students are able to earn a well-rounded business education, while focusing specifically on the technical dexterity needed to succeed in the field of data analytics.
- https://www.sdglobaltech.com/blog/prescriptive-analytics-in-healthcare-what-is-it-and-why-companies-should-care
- https://www.ibm.com/watson-health/learn/healthcare-data-analytics
- https://healthitanalytics.com/news/understanding-the-covid-19-pandemic-as-a-big-data-analytics-issue
- https://www.healthcareittoday.com/2020/04/08/how-can-healthy-data-fix-healthcare/
- https://www.healthcareittoday.com/2020/04/10/using-data-and-a-marketing-approach-to-improve-population-health/
- https://emerj.com/ai-sector-overviews/top-5-hospitals-using-machine-learning/
