What is Business Analytics? (2022)

To understand how and why the business analytics field is growing, we can answer the question, “what does business analytics do?”

Let’s look at the goals and tasks handled by abusiness analyst. Business analytics is a field that drives practical, data-driven changes in a business. It is a practical application of statistical analysis that focuses on providing actionable recommendations. Analysts in this field focus on how to apply the insights they derive from data. Their goal is to draw concrete conclusions about a business by answering specific questions about why things happened, what will happen and what should be done.

University of Dayton

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Master of Business Analytics

Gain in-demand analytics skills with an online master’s in business analytics. Complete in as few as 12 months.

  • Complete in as few as 12 months
  • GRE/GMAT not required

American University

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Master of Science in Analytics

American University’s online MS in Analytics program prepares students to apply data analysis skills to real-world business practices. The program can be completed in 12 months. No GMAT/GRE required.

  • No GMAT or GRE scores required to apply
  • AACSB accredited
  • Complete in as few as 12 months

Syracuse University

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Master of Science in Business Analytics

Looking to become a data-savvy leader? Earn your online Master of Science in Business Analytics from Syracuse University.

  • As few as 18 months to complete
  • No GRE required to apply
(Video) Introduction to Business Analytics (2020 Edition)

Pepperdine University

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Master of Science in Business Analytics

Earn your MS in Business Analytics online from Pepperdine University. Learn advanced tools like Python, Tableau, SQL, Hadoop, and Excel.

  • Complete in as few as 12 months
  • Delivered by an AACSB-accredited school
  • Earn a specialized business master’s degree

Harvard University

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Certificate in Business Analytics

Harvard’s 9-month certificate program equips high-level executives with the data and analytics skill set to lead their organizations to the industry forefront.

  • Live online classes in a webcam-enabled online classroom
  • Case-based lessons pioneered by Harvard Business School (HBS) faculty
  • In-person learning experiences at immersions hosted on Harvard Business School’s campus in Boston
(Video) What is Business Analytics?

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Business analytics combines the fields of management, business and computer science. The business aspect entails both a high-level understanding of the business as well as the practical limitations that exist. The analytical part involves an understanding of data, statistics and computer science. This combination of fields allows business analysts to bridge the gap between management and technology. Effective communication and problem-solving are also elements of business analytics to translate insights from data to information that is easily communicated to executives.

Business intelligence is a related field that also uses data to help understand and inform a business. What is the difference in goals of business analytics compared to business intelligence? Though both fields use data to answer questions business intelligence aims to understand what has happened in an organization to get to where you are. This includes measuring and tracking key performance indicators (KPIs.) Business analytics, on the other hand, aims to inform changes to a business through utilization of predictive models that provide insight into the outcome of proposed changes.

Business analytics utilizes big data, statistical analysis, anddata visualizationto implement organization changes. Predictive analytics is an important aspect of this work as it involves available data to create statistical models. These models can be used to predict outcomes and inform decision making. By learning from existing data, business analytics can make concrete recommendations to solve problems and improve businesses.

Examples of Business Analytics

Business analytics has applications in a wide array of different businesses. Some companies are developing innovative ways to use big data in order to improve their customer’s experience and maximize profits. Here is a real life example of business analytics:

Fast-food companies have begun to implement business analyticsto streamline their restaurants. Who wants to have a slow experience in a fast-food drive-thru? By monitoring how busy the drive-thru is these businesses can increase efficiency during peak hours. When the line gets long, the digital order boards change. They begin to highlight items that can be prepared quickly. This leads to more simple orders that can be completed quickly. When the lines are short, slower items with higher margins are featured. In this way, the store can respond to real-time needs to improve efficiency.

Other types of business analytics applications do more than just respond to the current situation. These techniques help businesses predict which customers are less likely to return. They can then target advertising and promotions to these customers to improve retention. Here are some examples of predictive analytics in business:

Casinos use business analytics to improve their profitsand keep customers coming back. Though the house wins most of the time, players typically need to win enough to enjoy themselves and keep playing. Otherwise, players may lose interest and stop coming back. By tracking players spending, casinos can learn which customers they make the most money from. They can offer greater incentives to these big spenders to keep them coming back. The collected data also helps these resorts understand which amenities are most popular.

Business Analytics Tools

There are data analytics tools that can be used in business analytics to streamline the big data pipeline.

Tools for use in business analytics range substantially in complexity. Self-service analytics tools provide a simplified interface, often are paid services that can do basic data analytics tasks in a user-friendly way. Alternatively, advanced statistical analysis tools require programming and software engineering skills to use effectively. Many of these tools are open-source and available for free to users.

Whitman School of Management

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Master of Science in Business Analytics

Looking to become a data-savvy leader? Earn your online Master of Science in Business Analytics from Syracuse University.

(Video) Who Is A Business Analyst?| What Does A Business Analyst Do? - Roles & Responsibilities |Simplilearn

  • As few as 18 months to complete
  • No GRE required to apply

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The most well-known tools in both data analytics and business analytics are open source programming languages that provide statistical tools. Two widely used options areRandPython(with the pandas library). Any data processing or analysis task can be automated using these languages. R and Python both have large communities that provide support and many packages and libraries which provide added functionality and statistical methods. These include data visualization tools, advanced statistical algorithms, data scraping tools and much more.

There are also paid statistical programming languages. These include SAS, SPSS and MATLAB. These languages have the advantage of paid support and professional development. However, they are typically used less often than open source solutions.

Not all statistical analysis tools require programming. There are many options for statistical analysis with a graphical user interface (GUI). These tools are generally paid and includeTableau, Qlik, Sisense and SAP. These are self-service analytics tools that can take raw data and turn it into user-friendly charts with the click of a button. This user-friendly workflow allows the most useful insights to quickly be visualized.

Selecting the right tool involves balancing financial costs, time costs, the complexity of the data and the ease of use.

Benefits of Business Analytics

Business analytics can help provide a wide array of benefits

  • Enable data-driven decision making that has the potential to increase profits and improve efficiency
  • With predictive analytics, allow businesses to plan for the future in ways that were previously impossible
  • Helps a company make informed business decisions
  • By modeling the outcomes and understanding the past, guesswork is minimized
  • Present meaningful, clear data to support decision making and convince stakeholder

Business analytics provides a way for businesses to plan for the future. By modeling the trends in a businesses’ sales, profits and other key metrics, these indicators can be projected into the future. Understanding the changes that are likely to occur seasonally, annually or on any scale allow businesses to better prepare. This may mean decreasing spending in preparation for a slow season or investing in new marketing campaigns to compensate. Large suppliers can use this data to predict order volume and minimize waste in their warehouses. Planning for future events provides a huge advantage to all businesses.

Business analytics can also enable new types of marketing campaigns. The data collected by businesses give insights into customer behavior which helps businesses understand the effectiveness of advertising campaigns with different audiences. Targeting audiences that are more likely to respond to specific campaigns or products increases efficiency overall. In addition, understanding consumer habits can help businesses improve customer retention. By identifying customers who are less likely to return, businesses can offer targeted promotions. This provides a cost-effective way to gain customer loyalty.

The applications of business analytics are wide-ranging and the benefits of business analytics are clear –data-driven businesses have a competitive edge in almost every industry.

The University of North Carolina at Chapel Hill

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(Video) What Is A Business Analyst? SIMPLE EXPLANATION!

Master of Business Administration

The online MBA from UNC Kenan-Flagler Business School is STEM-designated and prepares professionals to lead in an evolving business landscape. GMAT waivers are available.

  • Complete in as few as 18 months
  • GMAT waivers for experienced professionals
  • 25+ electives available across five concentrations

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Business Analytics FAQ

What is a business analytics course?

Business analytics courses help teach students statistical skills and tools, programming languages and other various skills. These courses help prepare students for real-world applications in their current or desired role.

Is Business Analytics a STEM degree?

STEM covers Science, Technology, Engineering and Mathematics. There are two main types of business analytics degrees, an M.S. in Business Analytics and M.A. in business analytics. Both of these degrees are typically considered STEM degrees by universities.

Is GMAT/GRE required for a business analytics degree?

Admissions requirements forbusiness analytics degreesdepend on the university you’d like to attend. Some universities may require the GMAT/GRE, while others allow GRE waivers. Some universities may not require any standardized testing as part of the application process. It is important to check with the university’s admissions office to learn about requirements.

What are the benefits of pursuing a business analytics degree?

There are various benefits to pursuing a business analytics degree. This degree typically covers topics such as data mining, statistical analysis and big data tools, and may help prepare you for a career in STEM. According to the Bureau of Labor Statistics, employment inSTEM occupations is expected to grow 10.5%between 2020-2030.

Last updated: April 2022

A business analytics master’s degree is perfect for professionals who need to analyze and interpret information to inform and guide strategic business decisions.

You'll study accounting information and analytics, advanced business analytics, financial analytics, business intelligence, and marketing analytics.. In addition, you will select from analytics elective courses in topics such as predictive analytics, information systems design, data management and analytics, categorical data analysis, and more.. With RIT’s business analytics master’s degree you’ll graduate prepared to launch your career in business analytics in positions that range from marketing research, analytics, and consulting; digital analytics; web intelligence and analytics; accounting and financial analytics and risk management; supply chain analytics; customer analytics; and consulting.. Students apply their mathematical, data analytic, and integrative business analytics skills in a complex project involving real or simulated data.. Students will be introduced to, mathematical and statistical models used in these applications and their implementation using statistical tools and programming languages such as SAS, SPSS, Python and R. Multiple data sources will be used ranging from structured data from company databases, scanner data, social media data, text data in the form of customer reviews, and research databases.. Techniques taught for managing the design and development of large database systems including logical data models, concurrent processing, data distributions, database administration, data warehousing, data cleansing, and data mining.. In those case studies, students will learn how to apply data cleaning, visualization, and other exploratory data analysis tools to a variety of real world complex data.

Our MS in Business Analytics program offers an in-depth program that gives you the technical skills and knowledge to make sound business decisions. Through consulting work, internships, and a practicum, you’ll have several experiential learning opportunities to apply what you’re learning in the classroom to today’s business problems. Our program allows working professionals to continue their careers as they enter graduate school with our evening and online class offerings. Benefits of our program include:

Convenience and flexibility with online and evening class options to allow professionals to continue their careers or complete an internship Comprehensive technical and business training so you'll be able to model problems and find actionable business solutions Downtown Denver location gives you access to business leaders and experiences Career and professional development opportunities available every week through guest speakers, panel events, and career fairs. $50 domestic, $75 international application fee Online application Official transcripts from each college or university attended Essay responses Resume GMAT/GRE score if required English language proficiency—international applicants only. Options for previous coursework completed which will satisfy admissions ELP requirements: Earn an associate or bachelor's degree in the US Earn a post-secondary credential (comparable to a US associate or bachelor's degree) in any of the exempt countries listed above Earn a post-secondary credential (comparable to a US associate or bachelor's degree) at an exempt-country-accredited school located in a non-exempt country Earned 12 or more credit hours in a master or doctoral degree program in the United States, an exempt country, or at an exempt-country-accredited school in a non-exempt country AND earned an overall college-level GPA of 3.0 or higher.. Specialized Dual Degree Option Many students pursue the dual degree option of pairing an MS in Business Analytics with an MS in Information Systems (Business Intelligence Specialization).. Additional Dual Degree Options Dual degree options for Master of Science programs include all of our MBA programs and all Business School Master of Science programs.. MS Accounting MS Business Analytics MS Finance and Risk Management MS Global Energy Management MS Information Systems MS International Business MS Management MS Marketing

Earn your Master of Business Analytics at Sacred Heart, and prepare to guide your team to strategic, successful business decisions by collecting, analyzing and interpreting data.

In the 30-credit Master of Business Analytics program, you will learn the iterative, methodical process of exploring an organization’s data, with an emphasis on statistical analysis.. with Business Applications prepares the students for a career in business analytics that is increasingly algorithm-driven.. Business Analytics Business Data Science* Financial Applications Healthcare Analytics Marketing Analytics. *Students choosing the Business Data Science concentration will also receive a Graduate Certificate in Intelligent Computing from the Jack Welch College of Business & Technology.. Become proficient in Python, a data mining tool, along with Tableau and PowerBI for data visualization Strengthen your skills in mathematics, including statistics and the development, critique and use of statistical models Graduate prepared for a career in the rapidly growing STEM field, where employment demand and salaries are high Study probability theory, statistical analysis, numerical methods, computation and simulation methods and more. Graduates of the business analytics program are employed at companies including:. The College of Business & Technology also offers graduate certificates in a wide range of disciplines, including digital marketing, corporate finance, core business skills, business analytics and more.. Most credits from a graduate certificate program can be applied toward one of our business master’s degree programs with program director approval.. The College of Business & Technology also offers three graduate certificates in business analytics.. Whether you are a working professional or a part-time student, we offer certificate programs to enhance your resume and advance your career in the business analytics field.. Sacred Heart University will offer a master's degree in business analytics (MSBA) this fall, through which students may choose a business specialization in revenue, marketing or operations.

This flexible, eight-month post-graduate program prepares learners for high-demand data management roles.

Back to Top Courses Term one (2022 Fall)CodeCourse NameCredits DATA9100 Fundamentals of Data Analytics. 3 DATA9110 Management Information Systems. 3 DATA9120 Statistics for Data Analytics. 4 DATA9130 Data Management and Security. 3 DATA9140 Business Analytics and Decisions. 3 DATA9150 Computer Applications in Business Analytics I. 4 Term two (2023 Winter)CodeCourse NameCredits DATA9250 Computer Applications in Business Analytics II. 3 DATA9260 Data Visualization and Communication. 3 DATA9270 Predictive Analytics. 3 DATA9280 Data Mining for Business Analytics. 3 DATA9290 Statistics and Modelling. 3 DATA9300 Practices in Business Analytics. 6 Program Outcomes Term: 1224 Analyze, organize, and manipulate data to support problem solving, business decision- making, and opportunity identification.. Note Most private college courses and/or credentials are not acceptable as admission requirements for Niagara College programs.. Academic software for your courses (supported under the Microsoft Windows 10 operating system) will be made available for download and remote use.. Your tuition estimation includes tuition, ancillary, and material fees based on a program and term.. Help prepare students with career-related work experience.. Overview Courses Admission Requirements Availability Tuition & Fees

Find out more about the Business Analytics course with MSc Degree taught on campus by Robert Gordon University (RGU) - a top ranking university for graduate employment based in Aberdeen, Scotland, UK.

You will develop the knowledge and skills to be able to select appropriate tools and techniques to collect and manage data and to develop decision-making processes based on data analysis.. You will learn to employ data visualisation and business intelligence software to explore, analyse and present data for a range of audiences.. You will develop the knowledge and programming skills required to prototype business analytics applications and you will consider the legal and ethical principles and policies which govern data collection and management.. You will research, develop and deliver a Business Analytics project, integrating the skills and knowledge developed in the earlier stages of the course.. Detailed module information You will engage with the course through online and on campus learning materials, lectures, tutorials, industry-led workshops and live client projects.. Lectures - 15 - 60 students per group, 3 - 4 hours per week Tutorial - 15 - 30 students per group, 3 - 4 hours per week Project Supervision - 1 student per group, 0.5 hours per week Practical class or workshop - 15 - 30 students per group, 3 - 6 hours per week Supervised time in studio / workshop - 3 - 4 hours per week Field Work - varies External Visits - varies. They bring experience from a variety of professional backgrounds including computing, digital marketing, digital media, ecommerce, data management, and information management.. All undergraduate and postgraduate students, whether you are learning on campus or by online learning, benefit from using our collaborative virtual learning environment, CampusMoodle.. Academic writing Study skills (note taking, exam techniques, time management, presentation) Maths and statistics English language Information technology support. There is considerable demand for individuals who can initiate and manage data analytics projects, understand legal and ethical considerations in working with data, shape data cultures across organisations and communicate the results of data science and analytics projects to a range of stakeholders and audiences.. The course will prepare you for a range of business and data analytics careers and roles in a wide range of sectors and industries.. Business Analytics Manager Business Intelligence Officer Digital Analytics Manager Insight Analyst. Full Time On CampusOver 1 yearYear 1£6,180 Part Time On CampusOver 3 yearsYear 1£3,090Year 2£3,090Year 3£ Full Time On CampusOver 1 yearYear 1£6,180 Part Time On CampusOver 3 yearsYear 1£3,090Year 2£3,090Year 3£ Full Time On CampusOver 1 yearYear 1£6,180 Part Time On CampusOver 3 yearsYear 1£3,090Year 2£3,090Year 3£ Full Time On CampusOver 1 yearYear 1£14,130 Part Time On CampusOver 3 yearsYear 1£5,300Year 2£5,300Year 3£3,530. Full Time On CampusOver 1 yearYear 1£6,000 Part Time On CampusOver 3 yearsYear 1£3,000Year 2£3,000Year 3£ Full Time On CampusOver 1 yearYear 1£6,000 Part Time On CampusOver 3 yearsYear 1£3,000Year 2£3,000Year 3£ Full Time On CampusOver 1 yearYear 1£6,000 Part Time On CampusOver 3 yearsYear 1£3,000Year 2£3,000Year 3£ Full Time On CampusOver 1 yearYear 1£13,720 Part Time On CampusOver 3 yearsYear 1£5,150Year 2£5,150Year 3£3,420

Business intelligence (BI) and business analytics are both data management solutions—but what’s the difference between the two and which is right for you?

Clearly, all of these processes leverage data to improve your business, but let’s push a little further to understand the nuances between BI, business analytics , and data analytics.. The major difference between business intelligence and business analytics is the questions they answer.. Business intelligence focuses on descriptive analytics BI prioritizes descriptive analytics, which provides a summary of historical and present data to show what has happened or what is currently happening.. Business analytics focuses on predictive analytics Business analytics, however, prioritizes predictive analytics , which uses data mining, modeling, and machine learning (ML) to determine the likelihood of future outcomes.. Business intelligence provides helpful reports on the past and current state of your business.. Business analytics asks, “Why did sales of blue feather earrings spike in Utah?” By mining your website data, you learn that a majority of traffic has come from a post by a Salt Lake City fashion blogger who wore your earrings.. The difference between business analytics and data analytics is a little more subtle, and these terms are often used interchangeably in business, especially in relation to business intelligence.. Data analytics is a broad umbrella for finding insights in data Data analytics can refer to any form of analysis of data—whether in a spreadsheet, database, or app—where the intent is to uncover trends, identify anomalies, or measure performance.. Business analytics focuses on identifying operational insights Business analytics focuses on the overall function and day-to-day operation of the business.. Trying to decide if business intelligence or business analytics is better is not a helpful way to look at data management.. In reality, a business needs both business intelligence and business analytics—descriptive and predictive analytics—to succeed.. Plus, people throughout the business world often use these terms to mean a variety of things, so when choosing the type of technology, tools, and talent you want to invest in, you should focus less on BI vs. BA and more on what you need the data system to do and who will be using it.

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