What Does an MBA in Business Analytics Do?
The MBA with a Business Analytics specialisation develops your ability to harness big data for smart decision-making. The degree opens pathways to analytics and manager careers like business intelligence analyst, analytics consultant, or management consultant, while also improving general managerial skills.
The course provides a toolkit for leveraging information. It sharpens your ability to analyse data, consult strategically, manage projects, and dissect operations. Learn the practical use of data insights for choice formulation and enhancing company performance.
While a basic understanding of statistics and some programming experience are necessary, this MBA isn't as technically demanding as data science or specialised business analytics courses. The focus is more on the practical use of data in making decisions rather than complex coding or advanced mathematics. In essence, the primary objective is to use data effectively in a business setting.
Related: How to Use Business Analytics for Decision Making
Is This Degree Worth It?
A Business Analytics MBA is a worthwhile investment for many. It boosts your ability to make data-based decisions, giving you a competitive edge. This degree paves the way for high-paying roles in management and analysis where impactful analytical skills are in demand.
The course bolsters your overall managerial skills and deepens your understanding of metrics-based strategy. This blend of abilities enhances your value in top-tier managerial positions. It's an outstanding choice for those looking to integrate business strategy with data analytics in their careers.
The flexibility of fully online study increases the overall value of the degree. It trims costs and accommodates your lifestyle. With or without the specialisation, an online MBA delivers significant advantages. Essentially, you can secure a globally recognised management qualification without needing to travel or interrupt your career, especially if you opt for part-time studies.
But, if your primary goal is to become a dedicated business analyst, a Master of Business Analytics may be more suitable. This specialised master's degree offers a technically-focused curriculum centred on in-depth data analytics and their practical applications.
Related: Is a Masters in Business Analytics Worth It? | 6 Masters in Business Analytics Online
MBA vs Business Analytics MBA
An MBA with a Business Analytics specialisation fundamentally remains a Master of Business Administration. It explores the same core areas as a "general MBA".
For example, the UTS Online program consists of 12 subjects, with 8 of them being core subjects. For every student, regardless of their chosen specialisation, two-thirds of the degree remains the same.
However, if analytics is your area of interest, the specialist program could prove to be a better choice. It extends beyond core business knowledge in fields like accounting, finance, leadership, management, and marketing. Uniquely, the program provides complementary training in business metrics.
Example: UTS Online
The MBA from UTS Online has 8 core subjects* and 4 electives. The Business Analytics specialisation effectively contains five analytic-focused subjects because 'Data-Driven Decision-Making' is one of the core subjects.
Is Business Analytics Hard in an MBA?
Studying Business Analytics as part of an online MBA might seem challenging, but it's not necessarily more difficult than other subjects. The aim of the program is to enhance your management skills, and analytics naturally fits into this framework.
Business analysis isn't as tech-heavy as some might think. It's less about deep programming or complex stats, and more about basic statistics, making sense of data, and clear communication. The program develops business analyst skills, such as being able to:
- Manage data responsibly, abiding by regulations and ethics.
- Apply business analysis theories and techniques.
- Use visual analytics to present data clearly.
- Solve choice problems in diverse settings.
- Interpret analytics to define company strategies.
- Design practical solutions for commercial issues.
MBA programs are manageable since they are more about practical application than mastering technicalities. You're not expected to be a data expert. The focus is using data insights for decision making and operational improvement. Success hinges on being organised, motivated, and people-smart. So with the right attitude, you can handle the challenging aspects.
Related: Business Analytics vs Data Science
What Should I Do After Getting This Degree?
After completing an MBA with a Business Analytics concentration, you will have a wide array of career paths to choose from. The right job for you will depend on your prior analytical and management experience.
If analytics is your preferred speciality, you might consider senior analyst roles. These include positions such as Business Analyst, Business Intelligence Analyst, Chief Data Officer, Data and Insights Expert, Digital Marketing Analyst, or Head of Business Intelligence.
However, if broader management roles appeal to you more, this degree also readies you for such positions. You might think about executive management roles like Business Development Manager, Business Strategy Consultant, Chief Executive Officer (CEO), Chief Marketing Officer (CMO), or Global Supply Chain Manager.
As a Business Analyst in Australia, you can expect an average annual salary ranging from $105,000 to $125,000, with a median of $115,000. This role is in high demand across sectors, particularly in Information & Communication Technology, Banking & Financial Services, and Insurance & Superannuation. For example, the ICT sector offers an average salary of $142,816.