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 with a Concentration in Business Analytics. The integrated knowledge and skills that degree candidates can 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 maximize 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 I Study Business Administration and Management If I 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 Texas A&M-Corpus Christi’s MBA in business analytics program.
How Can Earning an MBA in Business Analytics Help My Career?
Poets & Quants points to research showing a nearly 50% salary increase for MBA graduates. And the U.S. Bureau of Labor Statistics reports that higher-level positions involving data science and analysis are seeing much higher than average job growth. This high demand for qualified personnel logically equates to high pay. As an example, 2019 data from PayScale shows entry-level data analysts making an average annual salary of $59,559. Compare this figure with the average salary of $97,235 for business analytics managers. The average salary of senior data scientists is even higher, around $126,000.
Plus, professionals with business acumen and advanced data analytics skills are needed 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. In fact, data scientist has been ranked the best job in America for four years and counting by Glassdoor.
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.
Sources:
Tableau: What Is Business Intelligence? Your Guide to BI and Why It Matters
Forbes: Five Ways Data Analytics Will Shape Business, Sports and Politics in 2016
U.S. Bureau of Labor Statistics: Working With Big Data
U.S. Bureau of Labor Statistics: Occupational Outlook Handbook – Operations Research Analysts
ADT Mag: So You Want to Become a Data Scientist?
ADT Mag: Big Data Skills Getting Harder to Find
Glassdoor: 50 Best Jobs in American for 2019
PayScale: Average Senior Data Scientist Salary
PayScale: Average Business Insight and Analytics Manager Salary
Data Science Central: Why Every Manager Needs These Data Science Skills
