Is Business Analytics A Stem Major?
In today’s rapidly evolving business landscape, the demand for data-driven decision making has increased significantly. This has led to the rise of an emerging field – Business Analytics. With its strong foundation in data science, statistics, and technology, many are wondering if Business Analytics could be the next big thing in STEM education. In this article, we will explore the question of whether Business Analytics is – or should be – considered a STEM major.
What Is A STEM Major?
STEM stands for Science, Technology, Engineering and Mathematics. A STEM major involves concentrated study in one of these fields, such as biology, computer science, mechanical engineering, or statistics. STEM majors typically focus on developing analytical and problem-solving skills to address real-world problems and improve technology and innovation. These fields are in high demand and have a significant impact on various industries, including healthcare, technology, and manufacturing. Subsequently, employees with STEM majors are known for their analytical thinking, problem-solving abilities, and contributions to innovation and research.
The Intersection of Business and Technology
Traditional business programs have primarily focused on teaching students how to manage and lead organizations. However, in today’s digital age, businesses are relying more on technology and data to drive their operations and strategies. As a result, having an education that combines business acumen with technical skills is becoming essential for success. Business Analytics offers this unique intersection of business and technology, making it a valuable and resourceful course of study with real-world applications.
Defining Business Analytics as a STEM Major
As we’ve already defined, STEM fields involve using scientific concepts and principles to develop practical solutions to real-world problems. Business Analytics, in its core, is a combination of mathematics, statistics, and computer science, making it a perfect fit for STEM.
Here’s a closer look at the various ways that Business Analytics fits the mold of a STEM major:
- It involves data analysis and problem-solving skills: STEM majors are known for their strong analytical skills, and an MSBA program also focuses on developing these skills in students. The program teaches students how to collect, organize, and analyze large amounts of data in different business contexts, such as marketing, finance, and operations. This requires a strong foundation in mathematical and statistical concepts, which are also key components of STEM majors.
- It incorporates technology and programming: Technology plays a crucial role in an MSBA, or Master of Science in Business Analytics, as students learn how to use software tools and programming languages to analyze and visualize data. This includes tools such as R, Python, SQL, and Tableau, which are widely used in various STEM fields.
- It applies scientific methods to business problems: STEM majors are known for their scientific and evidence-based approach to problem-solving, and this is also true for an MSBA program. Students are taught how to identify business problems, gather relevant data, and apply statistical and machine learning techniques to develop data-driven solutions. This approach is highly analytical and scientific, aligning with the core principles of STEM majors.
- It leverages cutting-edge technology and tools: The field of business analytics is constantly evolving, and new technologies and tools are being developed to analyze and interpret data. As an MSBA student, you will have the opportunity to work with cutting-edge technology and tools, which will prepare you for a career in a fast-paced and dynamic field. This aligns with the focus on innovation and technological advancements in STEM fields.
In an ever-shifting business landscape, Business Analytics has undoubtedly staked its claim as a critical STEM major. It combines mathematics, statistics, and computer science to solve complex problems and drive data-driven decision making. With its real-world applications, career prospects, and growing demand, taking the next step in your education journey with an MSBA program is a smart and strategic choice for anyone interested in a STEM career path.
Continue Your STEM Journey with Wake Forest University’s MSBA Program
A master’s in business analytics can help pave the way to countless career and research avenues in the world of Science, Technology, Engineering and Mathematics. Find out more about the MSBA program at Wake Forest today.