The Most Valuable Business Skills for Those Working in Business Analytics

The Most Valuable Business Skills for Those Working in Business Analytics

Business analytics is the igo-between for an organization or department and its desire to make solid business decisions. Most career growth requires analytics skills which can only come from understanding data sets and the story they tell.

An MBA with an emphasis in data analytics prepares  graduates for future business opportunities and career growth, as well as business problem-solving. Leaders who can analyze data and understand the story behind it will make empowered decisions.

Read on to learn valuable skills for those in business analytics careers.

What Will I Learn with an MBA in Business Analytics?

No one has a crystal ball to know what the future holds, but data analytics enables users to make predictions based on factual data and information. An MS in Business Analytics helps you to make more informed decisions for your team or your business.

According to the Bureau of Labor Statistics, the field of business and data analytics is projected to grow by over 30% by 2030 and is one of the fastest growing areas as of 2023.

While pursuing your degree in business analytics, you will learn:

  • Strategic Information Systems
  • Introduction to Business Analytics
  • Data Analytics and Visualization
  • Advanced Business Analytics.

And more.

Business analytics is highly adaptable because the goal is to find efficiencies, identity new markets, and improve services and product offerings.

Analytics looks at past data to make future decisions. Adding in predictive analytics brings data one step further. The ability to contextualize data and tell a story helps foster buy-in from all stakeholders because it provides different insights and options. By default business analytics combines economics, finance, strategic management, investment, and organizational behavior.

3 Ways Businesses Use Data Analytics

Sound business decisions are based on hard facts rather than emotions. In a world that is more technologically advanced than ever before, it’s important to use research and reporting on hard data analytics.

So then, how do businesses use Data Analytics?

Sports Analytics

Major and minor league teams can remain competitive based on data that forecasts future trends and successes. Further, as gambling becomes more popular during sporting events, a sports data analyst provides a value-add when making gambling decisions.

Healthcare Analytics

With an aging population and ever-increasing healthcare needs, an analyst can provide insight into trends that may surface in 5 or even 10 years.

Marketing Analytics

Another popular use for business analytics is within marketing. Beyond A/B testing, it’s important to have the resources and research prior to any testing.

Careers in Business and Data Analytics

Those with an MBA and a concentration in Business Analytics have a variety of job opportunities and potential titles. Some careers include:

  • Director of Marketing
  • Chief Technology Officer
  • Business Data Analyst
  • Sports Analyst
  • Management Analyst
  • Project Manager

Often a concentration is complementary to your role and can give you a new perspective, new networking opportunities, and a new outlook in your career.

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