If you are interested in becoming a successful business manager, you might be interested in pursuing a degree in business analytics. Business analytics is a field that combines data science and business. This degree focuses on the analysis and interpretation of business data. Today, more companies are turning to business analysts to help them extract useful consumer data and create profitable business strategies. There are many courses available to help you learn how to develop a data-driven strategy and become a successful business manager.
Careers in business analytics
Careers in business analytics involve using data to improve decision-making processes within an organization. They also require analytical and presentation skills. A business analyst typically earns a Master of Science or MBA with an emphasis in business analytics. This field is growing fast, and job opportunities are plentiful. This field is also very rewarding.
Careers in business analytics are becoming increasingly popular as companies collect massive amounts of data. Often, this data is unstructured, so companies need skilled data analysts to help them understand the resulting information. Companies have been collecting data for decades, but the volume of data has only increased over the past several years. As a result, many people will be needed to analyze this information. According to MarTech, the digital universe contains 2.7 Zettabytes of data. Companies will need a large number of data analysts to sort through the vast amounts of information and find patterns and trends.
Careers in business analytics are becoming increasingly lucrative, and salaries are high. Business analysts earn an average salary of $70,170 per year. They also help organizations make decisions by using data to help them make more informed decisions.
Courses offered in business analytics
Business Analytics courses focus on building analytical skills and deciphering the language of data. Students learn about descriptive statistics and advanced techniques like regression analysis and use these to analyze real business problems. They are taught in the context of real world problems like A/B testing a website or predicting home video sales based on box office performance. They also learn how to implement analytical techniques using Excel.
The field of business analytics is closely related to economics and draws on theories from economics. Because business problems are essentially decision problems, students must gain a solid understanding of economics in order to develop solutions. This includes learning about the concepts and models of incomplete information, such as moral hazard and adverse selection.
Courses in business analytics can be challenging. Students will have to be disciplined and self-motivated in order to complete them. However, they can benefit from the knowledge of professors who have years of experience in the field.
Cost of business analytics degrees
Cost of business analytics degrees can vary significantly among universities and colleges. Tuition at a public university such as Tulane University can run around $56,000 a year. Tuition at a private institution such as the University of Southern California can cost between $6,135 and $82,356 per credit hour. In addition, financial aid may be available to help students with their tuition costs.
The most affordable business analytics degree is offered by Indiana University – Bloomington’s Kelley School of Business. This program is offered as a second major and includes courses in Predictive Analytics, Business Strategy, and Modeling Business Data. Approximately 120 credit hours are required to complete the program. Those with a background in math or computer science may want to consider a program that focuses on statistics, business analytics, or operations research.
A business analytics career can be highly lucrative. A business analytics manager can make anywhere from $96,000 to $150,000 a year. There are many opportunities for advancement, and a master’s degree in business analytics can significantly boost your earning potential. In addition, business analytics degrees can be earned online, which is both convenient and affordable.