It’s Your Time
To Earn Your Master’s in Analytics
Analytics is the process of discovering, interpreting, and communicating significant patterns in data. Simply put, analytics helps individuals and businesses see insights and meaningful data that you might not otherwise detect.
Analytics can use data to answer business questions, discover relationships, predict unknown outcomes and automate decisions. This diverse field of computer science is used to find meaningful patterns in data and uncover new knowledge based on applied mathematics, statistics, predictive modeling, and machine learning techniques. No matter what you plan to accomplish with analytics, the first requirement is gathering data. Once you have data, you need to analyze that data. Then you need to position the results of your analysis to drive decision-making.
Why are Analytics Important?
Today, analytics is found everywhere, because every company wants to perform better and will analyze data to make better decisions. As technology becomes increasingly advanced, more and more companies are developing new ways to use big data to their advantage to maximize their profits and improve the customer experience.
Major organizational advantages of using analytics include:
- Cost reduction
- Faster decision making
- Better service to customers
- Discovering new opportunities
- More informed decision making
- Holding a competitive edge over the competition
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The History of Analytics
Today, the limitations of data storage and processing speed no longer apply, opening the door to more complex machine learning and deep learning algorithms that can handle large amounts of data.
As a result, the standard descriptive, prescriptive, and predictive capabilities of analytics have expanded with learning and automation, leading the way toward the artificial intelligence (AI) era.
Most organizations treat analytics as a strategic asset, and analytics is essential to many functional roles and skills. Over the past few decades, analytics use has especially grown in the areas of business, digital marketing and human resources.
Analytics and visualizations have been used throughout history without the support of computers and software. After 2010, business analytics truly took off, being adopted worldwide by companies. The arrival of big data meant that analytics along with various data sources should become more scalable and more powerful.
- 65% of global enterprises increased their analytics spending in 2020, according to the 2020 Global State of Enterprise Analytics report by MicroStrategy
- 36% of companies say data and analytics have resulted in a moderate change to industry-wide competition
- An Allied Market Research report states, the global big data analytics in the retail market generated $4.85 billion in 2020, and is estimated to increase to $25.56 billion by 2028
Digital Marketing Analytics
Digital marketers no longer rely on assumptions about the success of their campaigns; they create strategies informed by data. Smart marketers analyze data on a daily basis to fine-tune their campaigns in real time.
- About 75% of marketers report on how their campaigns are directly influencing revenue, states Hubspot
- According to Gartner’s 2021 CMO Spend Survey, despite shrinking overall marketing budgets, 26.6% of CMOs say they’ll increase their budget for marketing technology
- Social Media’s Today 2019 State of Marketing Automation Survey reports 75% of all companies already use at least one kind of marketing automation tool
Human Resources Analytics
Once guided by instinct and intuition, modern human resources specialists use data to drive business solutions. Experts say the current trend toward HR analytics will continue to grow, with analytics playing a central role in talent acquisition, development, and operations.
- Deloitte reports that, while only 24% of companies felt ready for people analytics in 2015, that number increased by a third to 32% in 2016
- Companies revealed the different people analytics adoption issues their respective organizations faced. One of the top obstacles cited was lack of the proper knowledge or staff
- According to Deloitte, 77% of company executives cite people analytics as a top priority
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Montclair State at the Forefront of Analytics
When you enroll in an online analytics program at Montclair State University, you’re choosing to earn a degree from a respected university with a distinguished history and a promising future.
Montclair State University is at the forefront of analytics. While we’ve offered our online Master’s of Science in Business Analytics for the past few years, we now offer a Master’s of Science in Digital Marketing Analytics and a Master’s of Science in Human Resources Analytics, with our Human Resource Analytics program being one of the first of its kind in the USA.
All of our programs are designed with an understanding that analytics is constantly changing and evolving. Our instructors continuously have their eyes on the horizon, looking for new roles and uses of data and how to properly integrate them into our courses.
How our cutting-edge online analytics programs stand out from the crowd:
- All curriculum is continuously reviewed and updated to ensure relevance in the marketplace
- Every analytics program is led and taught by expert faculty with outstanding academic qualifications and industry experience
- Online students have full access to library resources, the writing center, technical support, and career advice
- Self-paced learning enables students to complete weekly lessons and assignments on their own schedule, while web-based communication tools allow them to engage and collaborate with faculty and classmates
All of Montclair State University’s online analytics programs are offered through the Feliciano School of Business, which is accredited by the Association to Advance Collegiate Schools of Business (AACSB) International—the world’s largest accrediting organization for business schools. Less than 5% of the world’s business schools have earned this distinction.
No matter where you are in your learning journey, we want to meet you where you are. Designed for student success, our accredited online analytics programs provide a collaborative learning community to support your goals. Take your career to the next level with cutting-edge skills and industry-recognized certifications to harness the power of big data and make game-changing business decisions.
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Are you curious which Business Analytics degree is right for you? Compare how an MS in Business Analytics and an MBA with a concentration in Business Analytics can enhance your career.