Best Online Master's in Business Analytics Programs
Top Programs
Frequently Asked Questions
Is a MS degree in business analytics worth it?
Given the surge in demand for business analysts and the significant starting salaries that these roles often command, many individuals are pursuing an education in this field. According to the “The Future of Jobs” report released by the World Economic Forum in 2020, business analytics is expected to be one of the most crucial skills for future data-oriented roles.
What is business analytics?
Business analytics is a discipline that involves the examination of data and the development of strategic decisions based on this analysis to enhance organizational efficiency. Those with a degree in business analytics frequently advance to roles such as business analysts, where they apply both qualitative and quantitative insights. The primary aim of business analytics is to augment efficiency and guide business decision-making through data.
Is business analytics a good career?
The corporate world is increasingly seeking individuals capable of comprehending complex data sets. By 2030, the U.S. Bureau of Labor Statistics predicts a 14% uptick in business analyst roles. Graduates of the MIT master’s program in business analytics secure average starting salaries of $114,000.
What can you do with a master’s degree in business analytics?
A master's degree in business analytics provides graduates with ample career opportunities across diverse industries. Moreover, it can serve as the stepping stone to managerial or leadership roles; certain organizations have even introduced positions such as the Chief Analytics Officer. Significantly, business analysts possessing a master's or doctoral degree earn 17% more than their counterparts with only a bachelor's degree under their belt, as per a study by Skillsoft.
Is MS in Business Analytics hard?
The difficulty of an MS in Business Analytics largely depends on your comfort with quantitative subjects, technical skills and time management abilities. While it can be challenging due to its focus on mathematical and statistical concepts, programming languages, and complex problem solving, the outcome can be highly rewarding. The degree provides valuable skills in a high-demand field. However, it's worth noting that most universities offer resources and support to help students succeed. The perceived difficulty can vary greatly between individuals based on their background and skill set.
Is business analyst an MBA?
No, a business analyst is a role, while an MBA (Master of Business Administration) is a degree. Having an MBA can certainly enhance one's skills and potentially open up more advanced opportunities in business analysis, but it is not a prerequisite to becoming a business analyst. This role can be filled by individuals with various educational backgrounds, and experience often plays a significant role.
