Is Business Analytics a Good Major?
If you’re exploring a career in business, the world of analytics is an excellent choice. In today’s data-driven business world, companies large and small have a huge need for professionals who can use data to make informed decisions and drive positive change. A Master of Science in Business Analytics (MSBA) is a degree program that is designed to prepare professionals for the analytics industry. But is business analytics a good major? Regardless of where your undergraduate studies began, let’s take a closer look at the personal and professional benefits of enrolling in an MSBA graduate program.
A lucrative field – that’s in high demand
A degree in business analytics is a valuable asset. The program can provide you with the tools, skills, and knowledge to take on the ever-evolving world of data and gain valuable insights for organizations. Furthermore, with data playing an increasing role in today’s businesses, companies are willing to pay handsomely for analytics professionals who can provide valuable insights that will help them gain a competitive edge in the industry.
According to the Bureau of Labor Statistics, job opportunities for data analysts and data scientists are projected to grow by 35% from 2022 to 2032, making it one of the fastest-growing job markets. Additionally, graduates have the opportunity to work in various industries, such as finance, healthcare, consulting, and marketing, providing them with a wide range of career options.
MSBA graduates are well-versed in programming languages such as R and Python, as well as industry-specific software such as Tableau and SAS. This hands-on experience allows for a seamless transition into the workforce, where analytical skills are highly valued. Furthermore, students learn advanced data analysis techniques, such as predictive modeling and machine learning, which are extremely pertinent in today’s business world.
The ability to understand and interpret data is essential for business success today. As a result, many employers are actively seeking professionals with strong analytical skills and a solid understanding of data. This puts MSBA graduates at a significant advantage when it comes to job opportunities and advancements within their careers, equipping them with a range of technical skills including data visualization, data mining, optimization, and predictive modeling.
An MSBA degree program gives you excellent networking opportunities, allowing you to connect with students, alumni, professors, industry professionals, and mentors in the business world.
Networking is an essential tool for landing a great job and remaining competitive in your career. MSBA programs offer networking events, conferences, webinars, and panels that provide students with the opportunity to network with others that are interested in the data analytics field. Explore upcoming events and see what might benefit you most as you begin your journey in business analytics.
Versatility and potential for further growth
An MSBA graduate has a versatile career path with opportunities in a wide range of industries and roles. This is because the skills and knowledge gained through an MSBA program are highly valuable in today’s data-driven business environment.
Some of the possible career paths for an MSBA graduate include:
- Data Analyst/ Business Analyst: This is one of the most common roles for MSBA graduates. They use their analytical skills to extract insights from large datasets and provide actionable recommendations to businesses. They may also be involved in creating reports and dashboards to communicate the findings to stakeholders.
- Data Scientist: Data scientists use advanced statistical and computational techniques to analyze large datasets and develop algorithms to solve complex business problems. They work closely with data analysts to gain insights from data and provide business solutions.
- Marketing Analyst: MSBA graduates can also find opportunities in marketing roles where they use their skills to analyze customer data, track trends, and make data-driven decisions to improve marketing campaigns and strategies.
- Business Intelligence Analyst: In this role, an MSBA graduate uses data to identify business opportunities and areas for improvement. They develop and maintain databases and data warehouses and use data visualization tools to create reports for decision-making.
- Data Engineer: A data engineer is responsible for building and maintaining the infrastructure necessary for storing and processing large datasets. They work closely with data analysts and scientists to ensure data is accessible and usable.
- Quantitative Analyst: MSBA graduates with a strong background in mathematics and statistics may find opportunities as quantitative analysts in industries such as finance, insurance, and consulting. They use their analytical skills to solve complex financial and risk problems.
- Operations Analyst: Operations analysts use data to optimize business processes and improve efficiency. They work with different teams to identify areas for improvement and make data-driven recommendations to streamline operations.
- Product Manager: With their cross-functional skills, MSBA graduates can also pursue roles in product management. They use data to understand customer needs and behaviors, define product features and roadmap, and make data-driven decisions to improve the product’s performance.
- Management Consultant: Management consultants help organizations improve their performance through data-driven insights and recommendations. As an MSBA graduate, one can leverage their analytical skills to help businesses make informed decisions and streamline operations.
In addition to these roles, MSBA graduates can also explore opportunities in research and academia, entrepreneurship, and consulting. The versatility of an MSBA degree provides graduates with the flexibility to explore different industries and roles, making it a highly desirable field of study.
Begin your MSBA journey with Wake Forest
No matter your major or undergraduate degree, an M.S. in Business Analytics can be a great way to enhance decision-making and problem-solving abilities while making a vast array of career options available to you. If you’re passionate about data analysis and want to impact the business world, explore Wake Forest’s MSBA program and learn how graduates are equipped with marketable skills valued by top employers.