In today's data-driven business environment, it is more important than ever to find a Master of Business Administration program that includes courses in business analytics. One such program is Southern Illinois University Edwardsville's affordable and accelerated online MBA program with a Business Analytics specialization.
With experts predicting that 40 zetabytes of data will be in existence by 2020, analytics professionals who can sift through the data for actionable business insights will be in great demand. Moreover, the ongoing shortage of skilled professionals in this field has led to the growing demand for business analysts and data scientists, not only in startups but also in well-established companies.
What Does an MBA in Analytics Teach?
As Jonathan Shaw, editor for Harvard Magazine, recently said, it's not the amount of data that should be a concern for a company, but the ability to "actually do something with it." SIUE's online MBA with a Business Analytics specialization teaches students foundational skills over a wide range of data-related fields that include:
- Information systems and technology
- Quantitative analysis
- Government policy
- Database design
- Introduction to business intelligence
- Customer relationship management
The MBA's in-depth electives teach students how to examine and assess data with the goal of making data-driven decisions.
Benefits of an MBA in Business Analytics
As the demand for business leaders who have deep analytical skills grows, the workforce continues to fall short of new hires in the field. Forty percent of companies struggle to recruit and retain data analytics talent, according to Business.com.
MBA graduates who have business analytics training are uniquely suited to meet this demand. Data scientists without a background in business can partially fill the demand, but only MBA grads who have analytics training can truly bridge the business and data science worlds. Business leaders with familiarity in analytics understand how to mine data while interpreting the findings in a manner that CEOs and other executives can understand.
Companies that hire MBA grads with a specialization in analytics can benefit from:
- Faster interpretations of data-related questions
- More accurate, data-based information
- Deep insights into consumer behavior
- New opportunities for upselling
- On-demand business metrics analysis
Potential Careers with an MBA in Business Analytics
In general, an MBA with a concentration in business analytics leads to higher-paying positions and greater opportunities for promotion, especially given the projected shortfall of such professionals. Potential careers for graduates with an MBA in analytics include:
- Business analyst manager: These business leaders have a deep understanding of analytics but focus their time on leading data-gathering teams with the goal of drawing "big picture" insights. Leadership skills are critical for these business professionals.
- Data Business Analyst: These professionals gather actionable information. Individuals who thrive in this career have business and analysis skills.
Advance Your Career With an Online MBA From SIUE
SIUE's online MBA with a Business Analytics specialization connects graduate students with the region's top business professionals who bring real-world experience to the online courses.
Big data continues to offer new opportunities for businesses and business leaders who have the analytical tools to translate data into actionable business insights. Earning an MBA that teaches the critical skills needed to make sense of big data is one way to ensure that your skill sets are never out of date.
Learn more about the SIUE online MBA program with a Business Analytics specialization.
Sources:PayScale: Data Analyst Salary
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