In this world filled with a multitude of courses, a student might find it difficult to choose the right course. Along with data science, business analytics is one such course that has undergone a tremendous transformation recently. Companies want their data teams to handle both structured and unstructured data. They need business analysts who can understand the data and use it to make decisions.
This is because businesses are now generating data at an unprecedented rate. Every day, 2.5 quintillion bytes of data are created. This is a number that is too difficult to comprehend. So, let’s put this in context. If we tried to read all the data available today, it would take us 5 million years. Yes, you heard that right! According to research by IBM, 90% of the world’s data has been created in the last two years alone.
Below we will look at some reasons why the course is so sought after:
Need for Structured and Unstructured Data Scientists
Businesses all around the world are now generating more data than ever before. But making sense of such large amounts of information is not as easy as it sounds. Business analysts need to be able to handle both structured and unstructured data. Structured data is the type of data that is housed in a database and can be easily queried. On the other hand, unstructured data is data that is not easily categorized. It includes text, images, and videos. Understanding and making use of unstructured data is of utmost importance for businesses in today’s times.
The Increasing Demand for Business Analytics Professionals
As mentioned above, the need for people who can make use of data is increasing at an alarming rate. Data scientists are one such group of professionals who are in huge demand these days. Businesses across the world need them to make sense of all the data that they are collecting. And this is where business analysts come into play. They help collect and analyze data so that businesses can make well-informed decisions.
There is a huge demand for business analytics professionals in every sector. Be it retail, healthcare, banking, or finance. The need for such professionals is so high that there is a shortage of qualified professionals in the market.
Need for Business Analysts to Understand How Data Can Be Useful to the Business
A typical business analyst will need to know how data can be used by a company. This involves looking at both structured and unstructured data. It also requires a sound knowledge of statistical tools. These factors will determine whether a business analyst is hired or not by companies that rely heavily on data for their decision-making processes.
Need to Understand How Big Data Can Be Helpful in the Company
In addition to understanding how both structured and unstructured data can benefit a business, it is also vital that business analysts understand how big data can be used. With the increasing prevalence of big data, businesses need professionals who can help them make use of all that data. This is where business analytics comes in. By understanding big data and its various nuances, business analysts can help businesses better use it and derive more value from it.
If these pointers excite you, then it’s high time we look at some of the best colleges that offer a Business Analytics degree.
Top schools for MBA in International Business
Best Colleges to Do an MS in Business Analytics
MIT Sloan School of Management
The Business Analytics course offered here focuses on statistical data analysis and is aimed at students who have a background in mathematics. The course also brings together people from diverse backgrounds who aim to study management with a focus on data science. This makes it a wonderful opportunity for those looking to master both fields of business and analytics.
UCLA Anderson School of Management
This business school offers a Master of Science in Business Analytics. The program is designed to help students develop skills in data mining, modeling, and simulation. In addition, the program also teaches students how to use analytics for decision-making and problem-solving.
The course here focuses on both business and information science. This makes it a unique course in the field of data sciences. The program aims to teach students how to make sense of large amounts of data using both statistical and mathematical models, along with computer programming tools like R, SQL, Matlab, etc.
Austin McCombs School of Business
The McCombs School of Business at The University of Texas offers a Master of Science in Business Analytics. The program is designed to help students develop skills in data mining, modeling, and simulation. In addition, the program also teaches students how to use analytics for decision-making and problem-solving.
MBA in Business Analytics – All you need to know!
Imperial College Business School
The Business Analytics course offered here is a one-year full-time program. The course aims at making students proficient in predictive analytics, data mining, and data science tools. In addition, it also teaches students from diverse backgrounds how to use these skills for solving real-life problems related to business.
USC Marshall School of Business
The Marshall School of Business at the University of Southern California offers a Master of Science in Business Analytics. The program is designed to help students develop skills in data mining, modeling, and simulation. In addition, the program also teaches students how to use analytics for decision-making and problem-solving.
ESADE Business School
Here the course lays particular emphasis on the development of skills in the field of data science. It offers a unique opportunity to students who have an interest in developing their analytical skills. The course aims to teach students how to solve real-life problems using both statistical techniques and tools like R, Matlab, etc.
Alliance Manchester Business School
The course offered here focuses on the use of advanced analytics tools to solve complex business problems. Students from diverse backgrounds are taught how to understand and apply analytics skills for decision-making. A unique feature of this program is that it offers a strong theoretical foundation, along with practical exposure to industry applications across banking, retail, insurance, financial services, and consultancy.
Warwick Business School
The Business Analytics program at Warwick Business School is designed to help students develop skills in data management, modeling, and statistical analysis. In addition, the program also provides students with the opportunity to gain practical experience through a series of industry projects.
University of Edinburgh Business School
The Business Analytics program at Edinburgh Business School is designed to help students develop data management, modeling, and statistical analysis skills. In addition, the program also provides students with the opportunity to gain practical experience through a series of industry projects.
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