Why This Degree Is Worth It
A master's degree in marketing analytics is worthwhile is because it is an investment in a rapidly growing field. Almost every organisation relies on good marketing, and the analytics side of the discipline is increasingly vital.
By developing analytical skills, graduates of the program have the ability to exploit data wherever and whenever it's available to be used. The many applications of marketing analytics include the ability to optimise campaigns using tools like Google Analytics, HubSpot, and Tableau, and forecast trends with CRM systems and social media analytics.
Even if not working exclusively as an analyst, the knowledge gained from the program can be applied indirectly. For example, your expertise could be valuable in initiating or managing digital projects, and interpreting performance reports.
Related: Reasons to Get a Master’s in Marketing
Is Marketing Analytics a Hard Degree?
In a technical sense, marketing analytics and degrees in the broader field of business analytics are not particularly difficult. With some math ability, many professionals can be trained to excel in these areas.
Data scientists have developed software that assists in extracting valuable information from datasets. The availability of powerful and user-friendly tools has made business degrees in analysis less mathematically and programmatically intensive than one might expect. Though more technical than a Master of Marketing, good analytics courses are practical and common sense-oriented.
While the field may not be highly technically arduous, excelling requires a specific set of qualities. These include strong logic and math skills, a sound understanding of business strategy, and excellent communication and teamwork abilities. You need to connect data insights with campaign and sales strategies and influence decision-makers.
Related: Is a Masters in Business Analytics Difficult?
Is Data Analytics a Lucrative Career?
Yes, data analytics can be a lucrative career. Data analysis skills make you immediately employable in a range of high-paying jobs. You can also increase your earning potential by complementing technical skills with business know-how.
Data analysts are relatively well-paid professionals, especially if you work in a business-orientated field like marketing. In Australia, data analysts earn an average of $97,309, while business analysts command a higher salary of $109,621 (Source: Business Analyst vs Data Analyst).
However, these salary figures only provide part of the picture. The highest-paid analysts often work in senior management roles, using their analytical expertise to guide the work of other analysts and shape a company's direction.
Graduates are well-positioned for technical roles, such as a branding, business, consumer, digital marketing, or marketing data analyst. They are also potential candidates for the highest-paying marketing jobs, such as marketing research manager or director of marketing.
