Last Updated on August 28, 2022 by Ngefechukwu Maduka
Business Analytics and big data – two words that resonates in today’s business and industry. They both are vital and critical factors of any company’s success. Although often used interchangeably, it’s not a bad idea to separate them at least from a conceptual standpoint.
Business analytics is associated with the process of using information technology to gain deep insights into business operations and data, revealing new ways to increase revenue and decrease costs, measure performance, seize new opportunities. The focus of most business analytics is to make informed decisions based on business trends by collecting, analyzing and visualizing data from various sources. It enables executives to make more informed decisions about improving specific areas such as customer loyalty, retention rates, customer behavior, etc.
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what is the scope of business analytics
The United States of America (USA) is a haven for people interested in pursuing master’s degrees that will help them develop in their profession. From Doctor of Medicine to MIS, the United States provides a diverse range of programmes with promising futures. MS in Business Analytics is one such well-known programme (MSBA). Data-driven judgments have become increasingly important as technology advances. As a result, the Analytics and Data Science industries have undergone a paradigm shift and have also experienced a surge in student interest in recent years. As a result, earning a degree in such a fast-growing sector will undoubtedly help you get an advantage over the competition. In this article, we will look at the course and how one might pursue it in the United States.
What is MS in Business Analytics?
The goal of business analytics is to transform enormous data into usable intelligence. To that aim, business analysts make data-driven judgments using a variety of statistical and quantitative approaches, computer tools, and predictive models, as well as their understanding of finance, the corporate world, and the economy. As there will always be a need for business analysis, business analytics have grown into a massive industry. It is a subject of study that spans all industries and has shown to be a valuable addition to a company’s personnel. As previously said, the Masters in Business Analytics program is a well regarded program that has experienced an increase in student interest in recent years.
Must Read: MBA in Business Analytics: Top Universities, Jobs, Scope
mS in business analytics in USA subjects
MS in Business Analytics in USA Syllabus
Master of Science in Business Analytics will equip you with various techniques for assessing and managing essential data to solve critical business challenges. It is available under a variety of courses such as Master’s in Business Intelligence and Data Analytics, Master’s in Business Analytics, etc. Although there are many master’s courses in this field, the curriculum of the course revolves around the same lines. Tabulated below are the main subjects of MS in Business Analytics in the USA.
- Optimization Methods
- Analysis Lab
- From Analytics to Action
- Analytics Edge
- Communication and Data Storytelling
- Ethics and Data Privacy
- Analytics Software Tools in R, Python, SQL, and Julia- I
- Machine Learning Under a Modern Optimization Lens
- Analytics Capstone Project
- Communicating with Data
- Analytics Software Tools in R, Python, SQL, and Julia- II
Note: The aforementioned syllabus is for the program Master of Business Analytics by Massachusetts Institute of Technology. Different institutions may have a varied curriculum.
Top Universities for Pursuing MS in Business Analytics in USA
A wide range of programs, comprehensive curriculum, extensive research opportunities as well as certified faculty, universities in the USA offers many perks, especially for international students. However, you must thoroughly research before choosing the right institution to start your career in the growing field of Business Analytics. Here are some of the top universities offering MS in Business Analytics in USA:
|University||Location in the USA||QS Business Masters Rankings: Business Analytics (2021)||Program Name|
|Massachusetts Institute of Technology||Cambridge||1||Master of Business Analytics|
|University of California Los Angeles||Los Angeles||2||Master of Science in Business Analytics|
|The University of Texas at Austin||Austin||6||Master of Science in Business Analytics|
|University of Southern California||California||7||Master of Science in Business Analytics|
|University of Washington||Seattle||11||Master of Science in Business Analytics|
|Warwick University||Coventry||12||MS in Business Analytics|
|Purdue University||West Lafayette||13||MS Business Analytics & Information Management|
|Arizona State University||Tempe||19||MS Business Analytics|
|University of Notre Dame||Chicago||22||MS Business Analytics|
|University of California, Davis||San Francisco||25||MSc in Business Analytics|
mS in business analytics in USA requirements
Pursuing higher education in a country that houses a majority of top universities in the world, it is essential for you to fulfil the eligibility criteria. However, as the MSBA course is available in a variety of universities, the entry requisites for the same can differ. Let us go through some basic prerequisites required to study MS in Business Analytics in USA:
- Usual formal schooling of 10+2 from a recognised institution.
- Bachelor’s degree in a similar or relevant field along with some work experience. Though required, not mandatory to have work experience.
- GMAT/GRE scores.
- A good score in English proficiency tests like IELTS, TOEFL, etc
- Letter of Recommendation (LOR) and SOP for Business Analytics form an essential part of the admission process.
- Detailed and updated resume
- F-1 Visa
Note: The above-mentioned details are general. Contact Leverage Edu experts for specific details.
Pursue your Master’s degree abroad with Leverage Edu
MS in Business Analytics in USA Without GMAT/GRE
GMAT/GRE scores are used to assess the caliber of students seeking admission to master’s programs in other countries. Most universities in the United States that offer master’s degrees in Business Analytics require you to submit your GMAT/GRE score. However, international students who do not have strong GRE/GMAT scores or have not yet taken the exam but intend to apply for an MS in Business Analytics in the United States can do the following:
- With a high GPA, you can get a GMAT/GRE waiver.
- A few institutions will admit international students with job experience without requiring GRE/GMAT scores.
- Apply to universities/colleges that do not require you to submit GMAT/GRE results. Some of the popular universities or schools that offer the program to international students without requiring a GMAT/GRE score are:
- North Carolina State University
- Suffolk University
- University of Rochester
- DePaul University
business analytics career path
MS in Business Analytics in USA: Career Prospects
The increasing demand for professionals having core knowledge of Analytics is growing every day. Hence, you can find employment opportunities across industries after the completion of your course. The following are some of the popular work profiles and industries where you can work after completing an MS in Business Analytics in USA.
- Financial Sector
- Health Care
- Software Services
- Technical Sector
- Data Analyst
- Customer Analyst
- Operations Lead
- Product Analyst
- Business Analyst
- Data Scientist
- Quantitative Analyst
Is it worth doing MS in Business Analytics?
Unlike MBA programmes, most MSBA programmes do not require prior experience to apply. You can work in business and analytics without a Master’s in Business Analytics degree, but if you want to grow rapidly and qualify for the best jobs, an MSBA degree is worth it.Is business analytics a good career in USA?
With the growing popularity of Big Data-related occupations, Analytics roles are gaining significant traction. Almost all industries, including financial services, technology, the internet, retail, FMCG, healthcare, travel, and media, are affected.Which country is best for MS in Business Analytics?
Some of the best countries to study MS in Business Analytics are as follows:
SingaporeWhich is better MBA or MS in Business Analytics?
A degree in MBA offers you with a larger vision to choose from many possibilities as well as work chances. MS Analytics students, on the other hand, can only look for jobs in their discipline. As a result, MBA graduates have a higher earning potential than MS Analytics grads.
jobs after masters in business analytics in uSA
It’s been almost eight years since Harvard Business Review dubbed data science the ‘sexiest job of the 21st century’ and the US Bureau of Labor Statistics has reported a 16 percent growth in jobs in the sector since that claim.
If you want to get your foot in the exciting data science career door, a master’s in business analytics and big data can help get you there. Here are 11 career paths you might want to consider…https://e5d9dfa3e681485b75a22cad54c89135.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html
Machine learning engineer
Average salary: US$110,739
Where you can work: Large tech customer-facing companies or companies that offer a data-based service (Apple, Microsoft, Accenture).
Machine learning engineering is a specialist role still in its infancy. Machine learning engineers collaborate with the organization’s data science team to build programs and create algorithms to deliver data-driven products and services that enable machines to make decisions, take action and enhance user experience without any human interference. An example of this would be self-driving cars and personalized social media news feeds.
Machine learning engineers generally come from a mathematic, physics, or statistics undergraduate background with a specialized master’s or PhD.
Average salary: US$116,710
Where you can work: Public or private sector companies.
Data architects use extensive programming tools to design secure data frameworks in order to manage large electronic databases for organizations. This is a highly technical role that involves ensuring the data is relevant, accurate and accessible to the organization so employees can access this information, such as financial records and marketing information, wherever and whenever they need.
You’ll need superior analytical skills, an eye for detail and sophisticated design skills as you fulfil the strategic needs of the organization.
Average salary: US$73,054
Where you can work: Various sectors, including education, finance, health, environment, sport, transportation, market research and the government.
Statisticians compile, analyze and evaluate quantitative information from surveys and experiments in order to help organizations reach operational standards and advise on practical solutions to problems.
Relevant qualifications and industry experience is essential if you want to work in this field.
Average salary: US$60,208
Where you can work: Various sectors, including pharmaceuticals, manufacturing, consulting, finance, education and the government.
Data analysts are inquisitive, highly analytical and have a way with numbers. Every organization and business collects data, whether it’s sales figures, logistics, market research or transportation costs. As a data analyst it’s your job to gather and evaluate this data in order to provide clear insights as to how the organization can improve its business strategy and make better business decisions across various areas.
Chief technology officer (CTO)
Average salary: US$159,149
Where you can work: Corporate IT departments, consulting, finance.
This executive level position demands an expert-level knowledge of technological trends and how they can be implemented in building business strategies. Chief technology officers are masters of strategic thinking and conducting technological analysis as they look at ways in which they can ensure the organization stands out in an ever-increasing competitive marketplace.
Strong leadership and organizational skills are essential in this role as you lead your team and consider which technologies are best to harness in order to ensure positive user experience and ensure efficiency across all areas of the business.
Almost half (49 percent) of IE’s Master in Business Analytics & Big Data graduates go on to work in the technology industry.
Chief data officer (CDO)
Average salary: US$180,458
Where you can work: Banking, corporate IT departments, consulting, finance, healthcare facilities.
In 2012, only 12 percent of Fortune 1000 companies had a CDO. Within six years, 67.9 percent of surveyed firms reported having a CDO, according to Forbes. It is the chief data officer’s responsibility to strategically oversee the organization’s data and generate business value from what could be the organization’s most valuable asset.
Chief data officers are business focused and have excellent expertise in IT. Relevant qualifications such as mathematics and statisticians, plus a specialized master’s and industry experience, are all essential if you want to become a chief data officer.
Average salary: US$112,871
Where you can work: Software development firms, corporate IT departments, and computer manufacturing companies.
In this fast-paced role, application architects need excellent technical vision, the ability to provide valuable insights and solutions to software development, use and maintenance, as well as strong analytical, problem-solving and critical-thinking skills.
Every day, they carry out a wide variety of tasks such as creating new and improved applications, developing prototypes, running software tests, and creating technical documents for application software.
You’ll need proven programming language and architecture design skills and experience, as well as relevant qualifications and industry experience. A master’s in business analytics and big data for example, will equip you with the ability to rethink and rebuild products, services and processes as well as solve user problems using advanced analytics and relevant data insights.
Average salary: US$73,901
Where you can work: Construction, engineering, IT, and marketing.
As a project manager you’ll use your data-driven business acumen to plan, budget and oversee your organization’s project/s. You will also need to be organized and possess excellent leadership and critical-thinking skills.
Market research analyst
Average salary: US$63,120
Where you can work: Finance and insurance, consulting services, manufacturing.
Market research analysts compile complex reports, spreadsheets, surveys and opinion polls in order to gather and evaluate significant market intelligence that can help an organization market their product or service in the best way possible. Data can include consumer demographics, spending habits and sales trends, needs, interests, and preferences.
Market research analysts need a good working knowledge of statistical software and techniques in order to monitor and forecast the effectiveness of such strategies.
Average salary: US$53,552
Where you can work: Finance, insurance, and consulting services.
As organizations continue to turn their attention to advanced and novel technologies such as artificial intelligence (AI) and machine learning to leverage success and improve business efficiency, business/analytics translators are filling the gap between an organization’s business team and technology team.
An organization’s business team and technology team can be at opposite ends of the spectrum, causing confusion, miscommunications and in some instances, massive errors. Business/analytics translators work to ensure the focus stays on the organization’s values and objectives, but are data-savvy enough to understand and liaise with those in the data science team. Business/analytics translators then confirm the ‘roadmap’ for going forward.
Average salary: US$88,779
Where you can work: IT departments, finance and e-commerce, retail, transport services, healthcare services, academia and the government.
Last, but most definitely not least – the data scientist.
Using algorithms, artificial intelligence, machine learning and other statistical tools, data scientists mine complex, raw data from a range of sources and turn into meaningful, transparent information in order for the organization to improve their business strategy and operations.
The career-focused Master in Business Analytics & Big Data at IE University teaches with innovation and versatility at the forefront of its curriculum and offers an array of hands-on learning opportunities including multimedia simulations, classroom debates, and case studies.