How an advanced degree in business analytics can boost your career
As companies increasingly rely on data to drive strategic growth, there is a greater need, more than ever, for employees and leaders to be skilled at business analytics.
For example, according to the U.S. Bureau of Labor Statistics, a management analyst career is one of the fastest-growing, highest-paying positions in business, with projected growth greater than 14% from 2020 to 2030.
Whether you are in an entry-level position, a seasoned analytics professional, or you are looking to make a career change, a graduate degree in business analytics will better equip you to be competitive in this digital age.
As a Master of Science in Business Analytics (MSBA) student, you will develop analytical and leadership skills by learning how to use data to improve business decisions. You will also learn to deploy analytics to identify data insights that can be key to running a successful business.
MSBA graduates often go on to be self-employed or work in the professional, scientific, technical services, government, or finance and insurance industries. The Bureau of Labor Statistics reported in September 2021 that for those who go on to become management analysts*, the median pay is approximately $87,660, and the opportunities for new positions will grow to around 124,000 by 2030.
Below is a sampling of additional business analytics positions and their median annual salaries:
Business analyst, information technology: $70,489**
Business analytics director: $118,984***
Financial analysts: $83,660****
Operations research analysts: $86,200*****
For those who are eager to expand their knowledge and help shape the future of business, an investment in an analytics education can lead to a promising future.
A 2019 Deloitte “Technology in the Mid-Market” survey****** reported that 53% of corporate respondents said they are redesigning competency requirements to include skills like analytics and artificial intelligence. In the same report, more than 68% of respondents indicated they are developing new strategies to attract, recruit and retain workers in analytics-related positions.
While the pursuit of a master’s degree might sound daunting, there is a lot more flexibility than there used to be.
A unique MSBA program
At Northwood University’s DeVos Graduate School of Management, the MSBA program includes a leadership component centered on effectively communicating analytics insights at all levels within an organization. Students complete their program by participating in a problem-based experiential capstone.
The program is rooted in application, and throughout the curriculum, students have many hands-on opportunities to use analytics to solve complex problems and make solid, future-oriented decisions. Students also learn how to leverage their analytical capabilities to become better leaders, communicators and team builders.
Here are a few things you can expect to develop through an MSBA program:
The ability to apply techniques of data mining, modeling and analytics to solve real-world business problems.
Skill development in analytics toolsets, such as SAS, Python, Bitbucket, R and GitHub.
Development of clear communication and storytelling abilities to translate analytic results to action.
The MSBA program at Northwood University’s DeVos Graduate School is flexible and accommoda
tes those with full-time jobs and busy lives. The comprehensive program offers competitive tuition and spreads 30 credit hours across 10 online courses and can be completed in 24 months.
Tap or click here to learn about the program.