The applied use of information to derive niche business insights is the core function of the study of Business Analytics.
Business Analytics – An overview
The applied use of information to derive niche business insights is the core function of the study of Business Analytics. As customers transact across the counter, on social media, digital information exchange, the process of information exchange is dynamic and elliptical. More importantly, an individual reveals critical personal and psychological information through such digital, interpersonal and group communication, which can be used to predict behavioral patterns. The study of these patterns to predict, conform and analyze consumer behavior is one of the key drivers of Business Analytics, as a discipline.
Business Analytics enables the practitioner to mine, gather, analyze and assimilate data to solve problems, offer insights anda study patterns, trends and conduct a numerical SWOT analysis, all from a business perspective. While this may seem simple, in an increasingly data-driven world, Business Analytics has proven to be a key differentiator in meeting business objectives. The applications of Business Analytics benefit companies across the board, from Fortune 500 companies to consulting firms, supermarkets and even, small businesses.
The study of Business Analytics endows superior technical proficiency, versatility to employ an array of analytics techniques, like predictive analytics, data visualization, data mining, and more. Also, one will cultivate the ability to apply critical reasoning, analytical ability, technical skills and domain knowledge to real business problems, through a data-effective approach.
Data Science, Data Analytics, Business Intelligent, Business Analytics, Data Intelligence
Top #10 universities for Master’s/MBA in Business Analytics in the world*
|#1||MIT Sloan School of Management||USA|
|#2||UCLA Anderson School of Management||USA|
|#4||ESSEC Business School||Singapore|
|#5||Imperial College Business School||UK|
|#6||ESCP Business School, Paris||France|
|#7||McCombs School of Business, University of Texas, Austin||USA|
|#8||Marshall School of Business||USA|
|#9||Esade Ramon Llull University||Spain|
|#10||Alliance Manchester Business School||UK|
Top #10 universities for Master’s/MBA in Business Analytics in the US*
|#1||Massachusetts Institute of Technology (Sloan)|
|#2||Carnegie Mellon University (Tepper)|
|#3||Georgia Institute of Technology (Scheller)|
|#4||University of Pennsylvania (Wharton)|
|#5||New York University (Stern)|
|#6||University of California, Berkley (Haas)|
|#7||University of Texas, Austin (McCombs)|
|#8||University of Chicago (Booth)|
|#9||Santa Clara University (Leavey)|
|#10||Duke University (Fuqua)/Harvard University|
Top #10 universities for Master’s/MBA in Business Analytics in Canada
|#1||McGill University (DeSautels)|
|#2||Rotman School of Management|
|#3||Queen’s University (Smith)|
|#4||Sauder School of Business|
|#6||York University (Schulich)|
|#7||Kingston University (Stephen JR Smith School of Business)|
|#8||Carleton University (Sprott)|
|#9||University of Windsor (Odette)|
|#10||Western University (Ivy)|
Top #10 universities for Master’s/MBA in Business Analytics in the UK
|#2||University of Manchester|
|#4||University of Edinburgh|
|#8||Cass Business School|
|#9||University of Bath (SoM)|
Top Destinations to study Business Analytics
The US, UK, Canada, Australia, Ireland, Europe are some of the most sought-after destinations for a graduate program in Business Analytics. However, one must ascertain whether the program on offer is a Master’s of Management or a Master’s in Business Administration (MBA). Business Analytics is offered as a program or as an elective at most schools, be it Business, Management or Professional Education. It would be desirable to identify the correct degree on offer, to ensure there is congruence between the program and one’s planned career pathway.
Career Avenues for a Business Analytics graduate
The Business Analytics industry is slated to meet the $103 billion benchmark by the year 2027, according to Mordor Intelligence reports. Major industry players remain Oracle Corporation, IBM Corporation, SAP SE, Microsoft Corporation, SAS Institute, Quantzig, among others. The YoY growth is expected to exceed 13%, which means every year, the industry will hire at least one thirds of its workforce to meet the growing demands. As reported by the US Bureau of Labor and Statistics, the median annual salary of starting to experienced Business Analyst roles range from $69, 984 to $118,372, the baseline salary, not including perquisites or allowances.
A Business Analytics graduate can seek employment as –
- Management Trainee – Analyst
- Business Intelligence Analyst
- Business Analyst
- Business Strategy Analyst
- Market Research Analyst
- Operations Research Analyst
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