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This article provides an overview of the masters in applied business analytics degree program, some of the subject matters and courses that the degree covers, and why this degree could be an excellent way to achieve greater career advancement. It also highlights a high-quality masters in applied business analytics program that is available online and that you may want to consider.
What Is a Masters in Applied Business Analytics?
With a masters in applied business analytics, you will be equipped with the skills to use advanced data analytics, technology, and mathematics in order to examine the field of business. Being an applied degree, however, this is not done from the theoretical or research side, but rather by looking at real-world applications. Graduates of this type of program are ready to take on jobs in a variety of industries, usually focusing on improving the efficiency and profits of the company they work for. Applied business analytics are needed all over the world, in any business, to ensure that they can run at maximum efficiency.
Why Earn a Masters in Applied Business Analytics?
By earning a masters in applied business analytics degree, you will have a strong background in various practical elements of business management, particularly in relation to technology. This includes engineering, information technology, and computer science, to name but a few. The master’s degree has been designed to fit around the schedule of the busy working professional, which means most schools offer it online, part time, or through distance learning. All schools deliver a curriculum through experts, ensuring that students are able to increase their fundamental knowledge about the world of business, while placing an emphasis on applied technical analytic skills. Such are required skills in virtually any business.
The U.S. Bureau of Labor Statistics (BLS) has reported that, in 2014, there were around 758,000 management analysts in the country. About 22% of them worked in management, scientific, and technical consulting services. A further 10% worked in finance and insurance. About 8% worked for the federal government, and 7% worked for state and local government, excluding education and hospitals. Finally, 5% worked in the management of companies and enterprises. What this demonstrates, is the fact that someone with a masters in applied business analytics can find employment in a huge array of different industries and companies.
Generally, graduates become employed as project managers or consultants to some degree, which means they work from both their own office and the offices of their clients. They spend a lot of their time in meetings with their clients, and frequent travel is therefore required as part of the job. The role is very stressful, not in the least because demands are significant and schedules are tight.
Around 20% of all management analysts were self-employed in 2014. This means that they can decide themselves where they want to work, when to work, and how much to work. While this sounds positive, however, the reality is that the self-employed analysts tend to experience a lot more stress, because expanding and maintaining their client base is vital to their livelihood.
The BLS has also reported that management analysts had a median salary of $81,330 per year as of May 2016. However, this is at the bachelor’s degree level. Those who have a master’s degree not only increase their employment opportunities, but also the salary that they are likely to earn. They generally find themselves in the top 10% of earners, therefore, who earn $149,720 per year or more. The BLS has also reported that there will be a 14% increase in demand for these professionals from 2014 to 2024, which is much faster than the national average and will translate into some 103,400 new jobs.
Online Option for Masters in Applied Business Analytics
If you are interested in getting a masters in applied business analytics degree, then you may want to consider the MS in Applied Business Analytics program offered by the Davis College of Business (DCOB) of Jacksonville University. This program has been designed to equip students with the knowledge and skills they need to apply management, statistical, and IT science models and use these to build strategies and make decisions within the world of business. Graduates are respected for their understanding of and insights into the critical issues faced by business executives in the world today, while at the same time for their experience in project management, data interpretation, and data visualization. Although the degree itself is offered online, students are required to take on hands-on experiences in those fields.
Jacksonville University is highly respected for its graduate degree programs. The DCOB has received full Association to Advance Collegiate Schools of Business (AACSB) accreditation, which is one of the most recognized accreditations for business schools in the world. Meanwhile, the DCOB is also accredited by the Southern Association of Colleges and Schools Commission (SACSC) for all their degree programs.
The core courses of the MS in Applied Business Analytics are:
- Essentials of Accounting
- Essentials of Finance
- Essentials of Economics
- Leading People and Organizations
- Introduction to Applied Business Analytics
- Applied Statistical Modeling and Analysis
- Project Management
- Applied Data Management
- Applied Data Visualization and Analysis
- Data Mining and Predictive Analysis
- Essentials of Quantitative Methods
- Strategic Marketing in a Digital Economy
A capstone course on Applied Managerial Analytics will also be required and one optional elective is Special Topics in Management.
Graduates of the masters is applied business analytics degree program are ready to take on a variety of positions relating to data analytics and/or information technology. These include such roles as:
- Financial analyst
- Business insight manager
- Operations research analyst
- Computer or information systems analyst
- Market research manager
- Management analyst
- Market research analyst
- Business systems analyst
As you can see, obtaining a masters in applied business analytics degree is a great way to significantly advance your career in management and analytics. There are demands for the skills you will obtain as part of this degree in virtually any industry in the world, particularly due to the increase reliance on big data. A real need exists for those who do not just gather this data and understand it, but can also present it to senior executives and use it to find practical ways forward in terms of increasing the efficiency of the business they work for. By completing this graduate degree, you will set yourself apart as a true expert in your field, and this is something that should you give you a lot of personal and professional satisfaction.
- Management Analysts. (2015, Dec. 17). Retrieved from https://www.bls.gov/ooh/business-and-financial/management-analysts.htm
- Master of Science in Applied Business Analytics. (n.d.). Retrieved from https://www.jacksonvilleu.com/business/ms-applied-business-analytics/