This qualification can help you harness the power of data for your business
Internet users create a vast amount of data each day. According to reports, globally, we generate a whopping 2.5 quintillion bytes of data per day. This data helps businesses and organisations make strategic business decisions. The ability to transform data into insights has bolstered the need for experts in data analytics.
Data analytics can help companies understand their customers better, improve their advertising campaigns, personalise their content, and improve their outreach as a whole. The benefits abound, but businesses cannot extract their benefits without proper data analytics tools and processes.
In our tech-driven era, data underpins a lot of what companies do. Many MBA programmes offer a data analytics concentration which will equip professionals with the skills needed to unlock the benefits of raw data.
MBA programmes equip learners with leadership skills, increases their prospects of earning higher salaries and helps them climb the corporate ladder, to name a few.
With the rise of big data, many techniques used for data analytics require specialised systems and software that integrate machine learning algorithms, automation, to name a few. Investing your time, money and energy into obtaining an MBA in data analytics could be worth the effort — 89% of business leaders say big data will revolutionise business operations in the same way the internet did, according to Forbes.
What do you learn in an MBA in data analytics programme?
An MBA in data analytics encompasses numerous areas.
NYU Stern’s Tech MBA integrates customised coursework in business and tech with cutting edge real-world industry projects from leading companies. In doing so, students gain access to global headquarters and local startups in one of the world’ most exciting locations. Students also learn alongside one of the largest faculty of computer and data scientists known among business schools.
At Temple University, the Fox School of Business and Management’s MBA programme boasts a core curriculum that touches on many aspects of big analytics and big data. For those looking to take their skills a step further, the school also offers a dedicated concentration in business analytics. What’s more, Fox’s Global Center for Big Data in Mobile Analytics publishes relevant research and puts on an annual “Big Data Conference.”
For a more accessible option, the International University of Applied Sciences offers an online MBA in Big Data Management. This programme enhances skills future professionals will need to use data efficiently. It also familiarises aspirants with the principles of information management and several methods of artificial intelligence.
Upon completion, applicants will be able to integrate new technologies in a business environment while coordinating projects at the interface between top management, data engineering, and data analysis.
Regardless of the path you choose, the result of gaining an MBA in data analytics remains the same: gaining access to a booming practice that is needed across a range of sectors.
Data analytics is the backbone of digital transformation
The field of data analytics is expected to continue growing. According to reports, the global market is expected to experience a 30% CAGR (compound annual growth rate) by 2023, making it an industry that will be worth approximately 77.64 billion dollars.
For those with both the time and financial resources, a credential in the field will prove useful.
The US Bureau of Labor Statistics shares that many business roles require only a bachelor’s degree to enter. Among them are budget analyst, cost estimator, human resource specialist, and logistician. The median pay for these roles, combined, is approximately US$68,350 per year.
However, with a postgraduate qualification such as an MBA, candidates can expect higher pay. The average annual wage for individuals in management can come up to US$104,000 a year.
An MBA in data analytics can also open doors to lucrative career options beyond consultancy roles. These include leadership roles as an operations research analyst, computer systems analyst, software developer, mathematician, or statistician – amongst several others.