Business planning and converting it into big-time work scope is a long process that has many sub-aspects that needs to be handled and is done through thorough research. The progress and investigation of the process is done by experts that handle and analyse this section of business with a meticulous practice of iterative, methodical exploration of the organisations statistics.
The exercise of Business analytics has been used since the introduction of management which traces way back to the 19th century. Business analytics is used by companies that are data/statistics driven for making decisions that impact in future business planning. The analyzing helps the companies to decide on their target by working towards improving the business operations and processes for better business practices. A part of business analysis ‘Business intelligence’ analyses statistical data based on the company/business performance using tools that helps the analyst to derive how the problem occurred, why did it occur, what can be done to improve and take control and fixing it effectively.
Business analyst is quite a broad subject where an analyst can find answers to the questions that shall help in improving business decision making. Business analysis is a specialization program that is pursued as Masters in Science/MS in Business analytics by many students because of the benefits like
- A good income
- Improvisation of communication skills, managerial skills, technical skills, the ability to solve problems, analytical skills, decision making skills that incurred in the process of learning Business analytics program.
The Business analytics study is taught in many countries; according to source top universities for Business analytics of year 2018 have produced graduates that have a high income considering their state and knowledge towards the subject.
TOP 10 universities for MS in Business Analytics
Tuition Fees (2018)
MIT Sloan School of Technology
1 year to 18 months
The University of Texas
Austin, Texas, USA
University of Southern California
Los Angeles, USA
Carlson School of Management
Melbourne Business School
Alliance Manchester Business School
Manchester, United Kingdom
Warwick Business School
Coventry, United Kingdom
Michigan State University
East Lansing, Michigan, USA
Purdue University Krannert School of Management
West Lafayette, Indiana, USA
IE School of Human Science and Technology
Another way to get a clear insight of the topic is reading Business Analytics books to understand the important knowledge that imparted related to business and economy sectors. Business Analytics online courses are also available but studying online will not give much of theoretical knowledge compared to on-campus as the subjects and topics covered by universities have elaborate information, not only that but also the chances of recruitment are highly probable.
There are several courses that can be studied post MS in Business analytics, although with the degree of Business analytics salary earned can differ with the titles, although the average earning is said to be ranging from $50,000 - $120,000 in the year 2018. The designation post a degree in Business analytics is as follows –
- Operations Research analyst
- Market Research analyst
- Data analyst
- Management analyst
*Note – The above mentioned positions are some of commonly known recruitment, there are many other designations that haven’t been mentioned above due to differing interests.