Business analytics is a rapidly growing field — in fact, one of the fastest growing in the country. The Harvard Business Review even calls business analytics “the sexiest job of the 21st century.” But as the career field grows, so does the competition.
To fill these jobs, companies need individuals with the right talent and skills — something that is currently lacking in the industry. If you want a job in business analytics, you’ll have to show that you have what it takes and that you stand out from other job seekers. One of the best ways to do that is to have an MS in business analytics.
With an MS in business analytics . . .
You’ll be a step ahead.
Big data and cloud computing are new trends in the business world — 90 percent of the world’s data was generated within the last two years, according to Huffington Post. Because of this, business analytics degrees are a fairly new concept. The University of Tennessee was the first school in the nation to launch degree programs in business analytics at the undergraduate, master’s, and MBA level in 2010. Bentley University has offered an MBA concentration in business analytics since 1997, and a master’s degree in marketing analytics since 2005. We introduced our Business Analytics Master of Science program in 2013 and continue to see overwhelming demand in all three areas — both from applicants and employers.
Very few of today’s job seekers are equipped with this degree, and because of that, the U.S. could be looking at a shortage of up to 190,000 candidates over the next three years, according to U.S. News & World Report. That means having a master’s in business analytics sets you apart simply because of its newness. Having the degree puts you in an elite group of applicants, and employers will take notice.
You’ll gain more and better skills.
The skills most often associated with big data or business analytics jobs include IT expertise, quantitative math and statistical skills, and business and domain knowledge. Business analysts should be able to understand organizational objectives and concerns, analyze relevant data, and evaluate the viability of proposed solutions. All of these skills are learned and expanded upon in a business analytics program. But what makes a master’s degree superior is that you not only discover the necessary hard skills associated with data analysis, but you’ll also actually learn how to apply them to create real business solutions. You’ll learn how to discover and document database requirements, functional system requirements, and user interface requirements, and you’ll dive into the most recent data mining techniques. Because companies are looking for ways to analyze and improve into all aspects their business strategy (which increasingly is digital and data driven), having an MS in business analytics or marketing analytics will make you a top choice.
You’ll have real-world experience.
Although some could argue that being in a classroom prevents you from getting real-world experience, a master’s program does the opposite. An MS program gives you several opportunities to find out exactly what’s happening in the world of business from multiple perspectives. Professors who have worked in the industry and became experts in their field have invaluable knowledge to share, and you have the opportunity to work with real clients to get a feel for analytics in the working world. Most master’s programs offer the ability to attend school and work simultaneously, so you can discover how to apply what you learn into your own career. When you can tell an interviewer that you have real-world experience with analytical solutions, they’ll see that you’re a qualified candidate.
You’ll have connections.
Of course, one of the many benefits of a master’s program is that you meet a lot of new people. Networking with fellow students in class and through student organizations allows you to build up a group of professional contacts to rely on once you’ve graduated. According to Recruiting Daily, 80 percent of today’s jobs are landed through networking, so it would seem that having connections can really influence your chances of landing a job. While getting a master’s in business analytics, you’ll build relationships with others in the analytics field, and possibly connect with a future employer through class projects, networking events or speakers that are brought to campus.
An MS in business analytics will allow you to stand out.
As technology and data collection advances and consumers shop and connect with your company online, careers in analytics will continue to grow. If you’re interested in a big data or data analytics job, consider getting an MS in business analytics. It will provide you with the proper skills, give you real-world experience, and supply you with connections that put you a step ahead of the competition.