What types of jobs can I get with a master’s in Business Analytics?
In the rapidly field of big data, there is a high demand for skilled professionals who can leverage analytics to translate unstructured data into valuable business insights. According to Forbes, worldwide Big Data market revenues for software and services are projected growth from $42 billion in 2018 to $103 billion in 2027. And the more data businesses amass, the more important it becomes for organizations to be able to harness the information their data provides and use it strategically to improve their operations. Studies have shown that companies who actively embrace Big Data jobs have a distinct edge in the marketplace, which further demonstrates the potential business analytics specialists have in today’s business landscape.
According to McKinsey, companies are in desperate need of talented analysts to meet the demand presented by the ever-growing amount of data they produce and acquire. For those who are interested in how data intersects with and impacts business, obtaining a master’s in Business Analytics (MSBA), provides specialized training that translates to a multitude of options for Big Data jobs, and other similar career paths.
Below are a few careers in which master’s in Business Analytics graduates can gain an edge:
The role of management analyst ties together the problem-solving and analytical skills learned in a Business Analytics master’s program with the ability to improve organization’s efficiency. Management analysts propose ways to generate more profits through reduced costs and increased revenues upon looking at historical data and information. The position often requires individuals to travel frequently for most companies, so that they are able to meet with clients across the country. And according to the Bureau of Labor Statistics, 115,200 new jobs with a mean salary of $82,450, are projected to be created within 2016 to 2026 in this field, making it a highly lucrative option for recent MSBA graduates.
Operations Research Analyst
Operations Research Analysts use advanced mathematical and analytic methods to help organizations solve complex issues. This role requires someone to identify and investigate solutions to problems that assist the company in making smarter business decisions. With this role in particular, individuals are more likely to be hired with the completion of a master’s degree, which prepares individuals for success in this career path through the acquisition of specialized data visualization skills that apply to complex operational data issues. The Bureau of Labor Statistics indicates a 27% growth in this sector between 2016–2026, which is higher than industry average. The median pay for this position is $81,390.
Marketing analytics is in rapid ascent within the field of business analytics. A marketing analyst spends their day identifying market segments, analyzing relevant market research and analytics to predict consumer behavior (think recommendations on Amazon, Pandora, etc.) and more. It’s precisely the “What happened previously?” “What’s going to happen?” and “What should we do?” descriptive, predictive and prescriptive techniques learned in a master’s in Business Analytics program that can be leveraged to measure results of marketing efforts and provide data-driven solutions for what to do next. The MSBA program also provides a strong background in recognizing and revealing market trends and relationships as well as how to provide business leaders with real market feedback that assists prioritization and drives better business decisions. Salary for these positions vary by region and typically fall between $60-$80K.
Data Scientist and other Big Data Jobs
According to the analytics company SAS, this role combines the tasks of a mathematician, computer scientist, and trend-spotter to ascertain and analyze a full picture of business-related issues. This is an axis that MSBA students live and breathe, particularly with a business background and experiences among math and coding. Other desirable characteristics of data scientists include a strong working knowledge of a variety of coding languages and a solid grasp of statistics, as well as skills in data visualization, machine learning, and pattern recognition—which are all learned and practiced within an MSBA degree program. This highly lucrative career has a starting salary typically around $120,000 a year.
Other titles under the big data umbrella are data analyst, database administrator, data architect, and big data engineer, all of which require the key data visualization and analyzing skills and the understanding of how these impact the optimization of today’s business operations.
Other Careers of Interest
There are many other career options analytics master’s program can provide MSBA graduates, including mathematicians and statisticians, logisticians, and market research analysts. Mathematicians and statisticians use their data skills to help solve real-world problems across multiple fields. Logisticians analyze and coordinate a company’s supply chain. Finally, market research analysts study market conditions to examine potential sales of products or services.
As you can see, there are a plethora of opportunities across industries that graduates of MSBA programs can pursue. The Leeds School of Business offers a master’s in Business Analytics (MSBA) with specialized tracks in Marketing and Advertising Analytics, Decision Science, and Security Analytics that allow you to acquire a vast toolkit for excelling in a data-driven career. Leeds also offers an online MSBA program and certificate programs for working professionals.