Find out what you need to consider when choosing a business analytics school.
Today’s up-to-the-minute IT environment produces huge volumes of statistics also known in the modern era as “Big Data.” This normally comes from business transactions and social interactions. The quantity of information grows rapidly because of mobile computing and innovation associated with digital technology. As a result, the business sector will need more competent analysts to ensure efficiency and proper evaluation of this data.
The Master of Science in Business Analytics degree serves as solid foundation in data analytics. It combines the fields of applied mathematics and statistics; computer science; consumer behavior, risk management, operations research and decision-making theories. BA students can utilize this training to solve real-life issues in the areas of accounting, finance and marketing. Likewise, it develops intense quantitative capabilities and technical know-how in generating business and social values.
Focus on Big Data
Cutting-edge academic programs are slowly becoming more popular in many colleges and universities across the country. You can find schools that offer data-driven curriculum knowing that many corporate entities employ analytics as growth strategy globally.
Schools with business analytics programs must focus on the data-based approach considering that it has a vital role in development of business strategies. It should reinforce the learner’s analytical abilities. The course educates students about techniques of using large data prospects. Students will also find out the essence of marketing analytics, supply chains and restructuring corporations through information platforms.
As a rule, what should be your criteria in choosing business analytics schools?
The school should have a core curriculum and proficient faculty members that will teach students the following:
- Learn how to implement analytics competence in a business organization.
- Build up this aptitude to augment the company’s analytics program.
- Determine how big data can influence various functions including the manufacturing and marketing processes.
- Understand the importance of business analytics with regards to the information technology sector.
It is a well-known fact that there is a considerable data talent disparity. The question is what is the academic community doing about this? In the first place, education and experience are the pressing needs. This is what schools should address immediately. There are probably hundreds of colleges/universities across the country preparing for business analytics and pertinent programs directed towards examination of data in a business framework.
Data growth is proceeding towards a single direction. That is why it is clear that this talent gap is a long-term concern. The reality is most businesses cannot wait long for this to materialize. Given this situation, there is a big opportunity for qualified information management specialists and data-savvy information technology graduates to plug the dearth of talent.
Points to Consider
Make sure that the college or university you choose will provide the expertise you need. Likewise, the program should fit into your schedule.
MastersInDataScience.org also tells students to ask the following questions:
“Can you work it into your schedule?
Although plenty of universities now offer a blend of evening, weekend and online classes, many of the programs mentioned here still require you to be present in class to complete your master’s degree.
Are there internships or real-world practicum?
Unless you’re on your way to a doctorate, this is going to be one of the most important investments in your career. Look for programs that connect you to industries and opportunities.
Will it get you the job?
The proof is in the numbers. If you cannot find it on the program’s website, ask about the percentage of graduates who have received employment offers or promotions.”
Competent BA Specialists
The truth is many academic institutions have prepared for business analytics realizing that there is a large need for competent analytics specialists as well as data professionals to fill in the talent shortage. These programs are intended for students with undergraduate degrees and more than three years of work experience. Many schools also offer part-time courses that permit students to study and work at the same time.
Degrees in Business Analytics have come of age. According to the Bureau of Labor Statistics, employment opportunities for data scientists and analysts are seen as increasing until 2020. Potential students must look for learning facilities that offer Business Analytics that have quantitative elements that include science, technology, mathematics, and engineering. Master’s degrees can augment chances of young learners to get a lucrative job in this discipline.
Studies related to the higher education system in the country revealed that 15 new programs were created during the past three years. All these concentrate on the field of business analytics. One such program is the Master’s of Science in Business Analytics. Even as MSBA used to be offered by only a few universities, several curriculums are now focusing on experiential learning. Students are exposed to actual scenarios in the business world for the purpose of gaining real-life know-how.
Look at the core syllabus being offered. It should consider skills that corporations need. Certain MBA programs offer specialized disciplines in information systems management that will be supportive of business analytics.
Potential students should look at this aspect before enrolling in any school that offers the Master’s Degree in Business Analytics.
Master’s Degrees in Business Analytics
The MS in BA has been designed to help students discover opportunities in big data and apply said findings in real-world business scenarios. Data analysts supply enterprises with concepts and theories for clever strategic management, enhanced financial implementation and superior operational efficiencies.
According to MastersInDataScience.org,
“MSBA degrees usually take one to two years to complete. You will be required to take a variety of core courses in data analytics and business (such as financial accounting), as well as electives in a specific field of interest. Many programs include a capstone project or practicum.”
The usual courses include:
- Business data analytics
- Operations research
- Project management
- Database analysis
- Predictive analytics
Students can verify with their preferred school for detailed admission requirements. There are undergraduate degrees in business, economics, engineering, computer science, mathematics, or statistics.
Based on information provided in Tech Web News, here are some schools with candidates already possessing undergraduate degrees. Incidentally, part-time alternatives are available so working students can pursue higher education.
Source: Information Week
Bentley University in Waltham, Massachusetts
School: Graduate School of Business
Description: “Strategic marketing and training in making marketing decisions based on quantitative analysis. Program enables students to make informed marketing decisions based on relevant data and to demonstrate the financial impact of those decisions.”
Prerequisites: Undergraduate degree and GMAT or GRE examination results. Students may be required to take up five foundation courses that include accounting, economics, finance, marketing, and statistics. Students can be exempted from this prerequisite if they finished an equivalent course during the last five years from an accredited institution and earned grade equivalent of B or higher.
Carnegie Mellon University in Pittsburgh, Pennsylvania
Degree: Master of Information Systems Management focusing on Business Intelligence and Data Analytics.
School: Heinz College (Public Policy & Information Systems)
Description: “Blended business-technology program designed to foster better planning, management and technical abilities. The concentration in Business Intelligence and Data Analytics is designed for cross-training in business process analysis, predictive models, GIS mapping, analytical reporting, segmentation analysis, and data visualization.”
Prerequisites: Successful graduates are capable of creating complex quantitative and qualitative concepts. Candidates can have undergraduate background that includes engineering, information systems and physics. All students are required to complete a college-level, object-oriented programming course prior to beginning classes at Heinz College.
Full-time programs: One year for Master of Information Systems Management and 16 months for students pursuing Business Intelligence and Data Analytics.
Columbia University in New York, New York
School: Fu Foundation School of Engineering and Applied Science
Description: The Department of Computer Science department offers the program in eight disciplines. These are: “Computational Biology; Computer Security; Foundations of Computer Science; Machine Learning; Natural Language Processing; Network Systems; Software Systems and Vision; and, Graphics. The Machine Learning concentration covers techniques and applications in areas such as bioinformatics, fraud detection, intelligent systems, perception, finance, and information retrieval.”
Prerequisites: Undergraduate degree in computer science or related discipline with minimum GPA of 3.3 or higher. Individuals with undergraduate degrees in different fields must finish a minimum of four computer science courses (basic programming) as well as two mathematics modules.
DePaul University in Chicago, Illinois
School: College of Computing and Digital Media
Description: Graduates learn multiple skills required for careers in predictive analytics. This includes evaluating big data sets and developing modeling solutions for decision support. “Students also gain a good understanding of the fundamental principles of marketing and customer relationship management along with communication skills to present results to a non-technical business audience. They can pursue concentrations in computational methods or marketing.”
Prerequisites: Bachelor’s degree with minimum of 3.0 Grade Point Average and professional experience is a big plus.
Drexel University in Philadelphia, Pennsylvania
School: Le Bow College of Business
Description: It explores quantitative methods and relationships using data analysis, as well as utilizes data to address issues in the business. Students learn how to influence decision-making, strategy and operations with fact-based insights and business performance analysis. The degree focuses on statistical assessment, quantitative analysis and predictive modeling. Courses focus on statistics, operations research, mathematical modeling and management information systems.
Prerequisites: “Candidates are evaluated based on graduate test scores, undergraduate GPA and work experience. Work experience is preferred but not mandatory. GMAT is required with scores demonstrating a high-level of quantitative and analytical abilities.”
Harvard University in Cambridge, Massachusetts
School: School of Engineering and Applied Sciences
Description: “This is a one-year program developed in 2010 by Harvard’s Institute for Applied Computational Science. It provides mathematical and computing foundations complemented by independent research projects and elective courses. Graduates will master mathematical techniques for modeling and simulation of complex systems; parallel programming; collaborative software development; efficient methods for organizing, exploring, visualizing, processing; and analyzing very large data sets.”
Prerequisites: Undergraduate degree in natural sciences, mathematics or engineering. Graduate Record Examination is mandatory.
Louisiana State University in Baton Rouge, Louisiana
Degree: Master of Science in Analytics
Description: This is designed to meet demands for professionals who comprehend big data and possess analytics skills to obtain information from huge and complex data sets. The syllabus puts emphasis on modern data management tools and applied statistical and operations research techniques. These will enable the analyst to look at real-world data sets to “increase return on investment, improve customer retention, reduce fraud and improve decision making. Students receive training in SAS, SQL, and other tools. Student teams work with companies and government organizations to solve business problems in areas such as insurance, banking, health care, communications, e-commerce, law enforcement and marketing.”
Prerequisites: Undergraduate degree with 3.0+ GPA, GMAT or GRE scores. Chances of acceptance are better for candidates with relevant undergraduate degrees in “engineering, computer science, management, science, operations research, production/operations management, economics, statistics, mathematics or industrial/organizational psychology.”
Massachusetts Institute of Technology in Cambridge, Massachusetts
School: MIT Sloan School of Management
Description: Curriculum and degree requirements promote choice and experimentation. Students learn how to formulate a personalized course of study after the collective first semester foundation. Students are given an MBA degree or Master of Science in Management upon completion of the assigned thesis. Specialized modules are offered in Finance, Entrepreneurship and Innovation, Enterprise Management and Sustainability.
Prerequisites: “There should be proven academic excellence and achievement as reflected in test scores, academic records and personal recommendations. Work experience is not required, but those who have it generally get more out of the program, according to admission guidelines. College graduates from all areas of concentration are accepted, but applicants may be required to take courses in microeconomics, calculus or financial accounting before starting studies in Masters in Business Administration.”