The landscape of economies around the world is changing with the advent and continuous refinement of technology. Gargantuan amounts of data are now available to entrepreneurs and executives across the world that can change the way they see or conduct their businesses. They have access to competitor information and extensive market research. However, the requirement is to analyse this data and make it reliable for businesses. Unless this data is given meaning, this remains sheer numbers. This has led to the increasing popularity of the study of business analytics around the world.
To define it, “Business analytics refers to the skills, technologies, practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning.” To explain it further, it is the use of all available numerical and statistical data to analyse situations, take more informed decisions, and take a step toward automating the use of this data for all other dependent functions.
The growth of companies attempting to build intrapreneurs (leaders within the organization) has also paved a way for the rise of business analytics. The smarter the analysis, the more effective is the decision. Businesses around the world are enabling their employees to take decisions and lead markets by basing their judgments on data.
MS in US in Business Analytics is also a popular choice for study due to its unlimited scope in all industries irrespective of its reach and genre. It is also not limited to any realm of a business or any organizational domain. Holding this degree would enable the individual to also foresee how various departments of the business would interact and function ahead and the modelling of this relationship is important to organizations.
Statistical techniques that are deep rooted in software and algorithms pave the way for a course of business analytics. If you love crunching numbers and data and always work your way to understand Excel sheets and draw inferences from them, then this is the field of study one should go forward in.
MS in US in Business Analytics is also growing popular with the increase in consulting firms across the globe. Larger organizations prefer to outsource their work in data analytics to consulting firms who do the number tabulation and crunching and draw objective results from them which are easy-to-understand and can play a major role in forming invaluable strategies for organizations. These consulting firms in turn are hiring business analysts with meaty job roles and meatier pay packages. Business analytics is one the well-paying roles in the world today and the lure of studying it as a course is only increasing.
Another advantage of doing a MS in US in Business Analytics, also leading to its popularity, is the non-restrictive nature of job roles that it benefits. If you hold this degree, you can be a risk analyst, an accountant, a quality control or process improvement manager, or an international banker. Since Big Data (huge sets of data that are computationally derived) analysis is in your hands, the sky is your limit!