Fascinating and lucrative opportunities abound at the intersection of data analytics and business administration. For those who wish to take advantage of these opportunities, Texas A&M University-Corpus Christi (TAMU-CC) offers an online Master of Business Administration (MBA) with a Concentration in Business Analytics. The integrated knowledge and skills that degree candidates develop through this program can prove invaluable in advancing one’s career in high-level business management.
Why Is Data Analytics Such an Important Aspect of Business Management?
It is undeniable that data drives modern business. Data analytics is essential to effective business intelligence, informing the strategies and processes used to optimize business operations and maximizing profits. In this regard, data analytics is not just a means of gathering and analyzing data in entry-level positions. It is a function of data science used at all levels of management in every industry.
The key to applying data analytics to management practices is the scientific approach. Management itself is a science of sorts, taking business problems, analyzing evidence and making predictions — then conducting experiments and analyzing and evaluating the results. The in-depth analysis of targeted data supplies the initial evidence and informs decision-making as well as the process of analyzing results. Understanding the nuances and methods of data analytics and maximizing gained knowledge and insight leads to more effective management practices.
Why Should You Study Business Administration and Management If You Already Understand Data Analytics?
Someone who is well versed in data analytics has a head start in making intelligent use of data. But being effective in a management role also requires advanced leadership and communication skills as well as in-depth knowledge of areas like organizational structure and behavior, finance, ethics, development strategy and marketing. Managers must build on accurate data analysis, articulating gained insights and applying those insights to decision-making and strategy. This seamless integration of business management and data science is the focus of TAMU-CC’s MBA in Business Analytics program.
Moreover, data analytics evolves at breakneck speeds along with advances in technology and the ever-increasing flow of big data. Data analytics professionals may be proficient with established data science technologies and practices like data warehousing or forecasting based on diagnostic and descriptive analytics.
But emerging technologies like generative AI rooted in advanced applications of machine learning and Large Language Models (LLM) drive rapid innovations in the field, quickly outmoding aging enterprise analytics solutions. In quality business analytics MBA programs, students gain the expertise with cutting-edge, emerging technologies needed to keep current with the field and stay ahead of the competition.
How Can Earning an MBA in Business Analytics Help Your Career?
According to GMAC’s 2023 Corporate Recruiters Survey, top employers report they will offer new MBA grads a median starting salary of $125,000, compared to $75,000 for bachelor’s graduates. Plus, the U.S. Bureau of Labor Statistics (BLS) projects that employment of data scientists will grow 35% between 2022 and 2032, making it the third fastest growing occupation in the U.S. This high demand for qualified personnel logically equates to high pay. BLS reports that the median salary of data scientists was $103,500 in 2022, with the top 10% of earners making more than $174,790 annually.
In addition, the combination of advanced data analytics and general business management studies provided by TAMU-CC’s online MBA in Business Analytics uniquely prepares graduates for high-level roles combining analytics and leadership. Executive-level chief analytics officer or chief data officer positions are prime examples. According to ZipRecruiter data as of November 2023, the average salary for chief analytics officers is $151,203, with top earners making over $269,000 annually.
Professionals with business acumen and advanced data analytics skills are sought after in organizations across industries, from marketing firms to political campaigns. This widespread need for qualified professionals correlates with diverse career opportunities and mobility as well as the stability that goes with a high-demand job. Earning an MBA in business analytics can be an important step for those who wish to develop their careers in this engaging line of work.
Learn more about TAMU-CC’s MBA with a Concentration in Business Analytics online program.
