Master’s in Business Analytics Online

Source – Integrated Post Secondary Education Data System & University Data
*Tuition rates are for in-state and per year. Program specific rates may apply.
**NA – data not available

Source – Integrated Post Secondary Education Data System & University Data
*Tuition rates are for in-state and per year. Program specific rates may apply.
**NA – data not available

An online master’s degree in business analytics allows educators to advance their knowledge and skills. With a curriculum emphasizing the integration of business strategy and advanced data analytics, these programs explore data mining, statistical modeling, and machine learning. Students acquire the expertise to extract actionable insights from extensive datasets through real-world projects and hands-on experiences. Tailored for professionals balancing work commitments, these flexible online programs, typically spanning a certain number of credit hours (ranging from 30 to 36 credits), empower individuals to excel in roles related to operations analytics, business intelligence, and other pivotal positions within the data-centric business environment.

Curriculum

A typical Master’s in Business Analytics course curriculum offers many interesting and targeted subjects. Depending on the College and the Program, about eight core courses and anywhere from 3 to 6 electives are mandatory. Typically, an MS in Business Analytics syllabus contains:

• Analytics Edge: Analytics Edge in business refers to strategically using data and analytics to gain a competitive advantage. It employs advanced analytical techniques and technologies to extract insights, predict trends, optimize operations, and make informed business decisions. Analytics Edge enables organizations to harness the power of data for improved efficiency, profitability, and growth.
• Digital Economy: The Digital Economy refers to the economic activities and transactions conducted through digital platforms and technologies. It involves analyzing digital data generated from online interactions, consumer behavior, and digital marketing channels to understand customer preferences, optimize digital strategies, and drive business growth in the digital era.
• Econometrics: Econometrics is the application of statistical and mathematical models to analyze economic data. It combines economic theory, statistical techniques, and data analysis to understand and quantify the relationships between economic variables. Econometrics helps businesses make informed decisions, forecast market trends, evaluate policies, and measure the impact of economic factors on business outcomes.
• Macroeconomics: Macroeconomics refers to studying and analyzing large-scale economic factors that impact an entire economy. It examines variables such as GDP, inflation, unemployment, interest rates, and government policies to understand their influence on business operations, investment decisions, and market dynamics. Macroeconomic analysis provides valuable insights for strategic planning and risk management in businesses.
• Corporate Finance: Corporate finance in business analytics involves analyzing financial data and using quantitative techniques to make informed decisions about a corporation’s investments, capital structure, and financial strategies. It encompasses financial planning, risk assessment, valuation, capital budgeting, and optimizing the company’s financial performance. Corporate finance analytics aids in maximizing shareholder value and achieving long-term financial goals.

The list of electives is rather exhaustive but includes modules such as:

• Analytics of Finance
• Consumer Behavior
• Supply Chain Planning
• Investment Management
• Enterprise Transformations in the Digital Economy
• Innovation Strategy
• Network Science and Models
• Applied Machine Learning
• Algorithmic Trading and Quantitative Investment Strategies
• Risk Management or Enterprise Risk Analytics
• Sustainable Finance
• Forensic Finance (Fraud Investigation)
• Business Ethics
• Auditing and Assurance
• Taxation and Tax Planning
• Performance Management
• Crypto Finance
• Artificial Intelligence
• Web Analytics for Business
• Data Mining for Business Analytics

Note: Core Subjects and Electives vary by College and Program. It is always advisable to read the Program Prospectus to see specific subjects/courses on offer.

Skills You’ll Gain

Upon graduating from a Master’s in Business Analytics program, students gain industry-sought skills such as data analysis, statistical modeling, data visualization, and predictive analytics. These skills enable them to uncover market trends, optimize marketing strategies, create impactful data visualizations, and make data-driven predictions, ultimately driving strategic decision-making and enhancing organizational performance. Some key skills students acquire include:

• Problem-Solving
• Decision Making
• Analytical – Predictive, Prescriptive, and Cognitive
• Interpersonal and Communication
• Data Management & Collection
• Data Interpretation
• Time Management
• Critical Thinking
• Collaboration

Degree Types

In broad terms, there are two main Business Analytics Degrees – one being a Master’s of Science or MS in Business Analytics and the other being a Master’s in Business Administration or MBA with a concentration in Business Analytics. Both Degrees offer an in-depth study of Business Analytics and Data Science and present excellent career prospects in the corporate world.

Specializations for Business Analytics Students

Given that Business Analytics and Data Science are specialized fields derived from the broader realm of Business Studies, there are limited options for further specializations that offer in-depth knowledge in specific areas. However, there are a few specialization programs that complement an online Master’s in Business Analytics, providing a deeper understanding of granular topics. Some of these specialization programs include:

Graduation Timeline

Typical Timeline: 1-3 years

Credits to Completion: 30-36

The duration to complete a Master’s in Business Analytics online program typically ranges from 1 to 3 years, depending on the student’s enrollment status (full-time or part-time). On average, most online programs can be completed within 12-15 months. Students can choose from four intakes: Fall, Winter, Spring, and Summer. However, it is common for colleges to offer two intake options, typically Fall and Spring, to cater to different schedules and preferences.

The Master’s in Business Analytics, when it comes to admission requirements, is quite the same as what is required for any other Master’s Degree. Most institutions mandate an undergraduate degree in fields like computer science or related disciplines. Due to the advanced coursework in master’s programs, institutions aim to confirm that students possess a foundational understanding of key principles in computer science and related areas. Some of the standard admission requirements for online business analytics masters programs involve:

• Bachelor’s Degree: A completed undergraduate degree from an accredited institution.
• Transcripts: Official transcripts reflecting academic performance.
• GMAT/GRE Scores: Many programs require Graduate Management Admission Test (GMAT) or Graduate Record Examination ((GRE) scores.
• Work Experience: Some programs prefer or require work experience in analytics or a related field.
• Letters of Recommendation: Typically, two or three letters from professors or employers.
• Resume: Highlighting relevant work experience and achievements.
• Statement of Purpose: A written statement outlining career goals and reasons for pursuing an MBA in Business Analytics.
• Interview: Some programs may conduct interviews to assess applicants’ suitability.
• English Proficiency: For international students, proof of English proficiency through tests like TOEFL or IELTS.

Prospective students should check specific program requirements for accurate and detailed information.

For students who are averse to taking up a standardized test, a Master’s in Business Analytics No GRE program is a compelling proposition. Some Universities provide an option for waiving a GMAT or GRE score. These are highly dependent on individual Universities and/or their Programs, so those looking for such a waiver should always read the University Prospectus or Program Guidelines for details or request a waiver from the College.

Some institutions that provide online business analytics master’s with no gre include:

University of Dallas³

University of Ilinois Chicago⁴

Accredited Programs

Although accreditation is as important as the Degree itself, most students tend to overlook who the Program is endorsed by. Accreditation adds credence to the Degree Certificate and is a sure means of landing plum jobs in reputed companies. Typically, Master’s Programs offered by Universities are accredited by some accrediting body or the other, but one should ensure that such is the case. AACSB International⁵ (The Association to Advance Collegiate Schools of Business is one such body that awards recognition to Master’s in Business Analytics Online Programs. Know why accreditation is important when applying for a Master’s in Business Analytics Online Program.

Many Colleges, Educational Institutions, Private Tutors, and Educational Websites offer online courses, but none are accredited Business Analytics courses. However, one must consider inevitable trade-offs if one opts for such a course. A pivotal downside to free Business Analytics courses is the program certification that is usually not very well accepted or recognized by the job market.

Secondly, free courses typically do not have a structured curriculum or well-formatted instruction. Although most of these courses do not award a ‘Master’s Degree’ or equivalent, they are excellent for those who want to specialize in a particular topic of Business Analytics and take up Certificate Programs to add value to their pursuant degree. Here are a few options to choose from:

Students who have completed a Master’s in Business Analytics are usually recruited without much deliberation or delay. According to the U.S. Bureau of Labor Statistics (BLS), employment of Financial Analysts is projected to grow by 8% from 2022 to 2032¹². The demand for Business Analytics graduates seems to be increasing due to a shortage of people who combine expertise in their industry with the ability to understand, analyze, use, and leverage big data to solve today’s business’ complex problems and assist in data-backed strategic decision making. Some of the many career choices tied to a Master’s in Business Analytics online program are high-paying with enviable professional growth. A quick list of jobs available in the market includes:

In most cases, the degree certificate awarded upon completing a Master’s in Business Analytics is more than adequate to qualify for jobs in most industries. There are no special licensing requirements as such, but some in the medical or scientific fields may require a specialized certification by way of undertaking a short course and exam. Some sensitive government jobs may require a candidate to undergo additional training and certification specific to the job profile.

Certification always adds value to a Business Analytics Degree by opening up even more career paths and ensuring better job prospects. In addition to a Master’s in Business Analytics online program, third-party organizations can certify students to further their knowledge in one or more aspects of Business and Data Analytics.  Here are a few examples of certifications business analytics graduates can tap into:

IIBA Certified Business Analysis Professional¹⁸

Attaining CBAP certification validates expertise, skills, and experience as a proficient business analysis professional. Distinguishing professionals from employers and peers underscores commitment to the field. CBAP-certified professionals enjoy increased compensation, earning up to 13% more than their non-certified counterparts, reflecting the certification’s recognized value in the industry.

PMI Professional in Business Analysis¹⁹

The PMI Professional in Business Analysis (PMI-PBA) certification demonstrates expertise in business analysis, validating skills in requirements management, strategic planning, and stakeholder engagement. It signifies a commitment to excellence in the field and enhances career opportunities by showcasing proficiency in driving successful business outcomes through effective analysis and decision-making.

In a fast-paced and well-connected world, it is important for students and working professionals of a Master’s in Business Analytics online program to keep up to date with the latest in their field and also stay connected with important people in the industry. With businesses no longer restricted by geographical and physical boundaries, tapping into all resources available at one’s disposal to enhance knowledge and gain better perspectives is crucial for one’s education and career. Here are a few resources on the internet that every Business Analytics professional should explore:

• Fubon Center for Technology, Business, and Innovation²⁰   
  Fubon Center for Technology, Business, and Innovation supports, facilitates, and enhances cross-disciplinary collaboration among its existing areas of excellence, such as Fintech, Data Analytics and AI, and Tech Innovation.
• CDP Data Visualization²¹
  CDP Data Visualization by Cloudera empowers data engineers, business analysts, and data scientists for seamless exploration, collaboration, and sharing of insights throughout the entire data lifecycle. Integrated into the Cloudera Data Platform (CDP), it provides a uniform and user-friendly data visualization experience through intuitive drag-and-drop dashboards and customizable application development.
• Domo²²
  Domo is in the business of Data Integration, Business Intelligence and Analytics, and Intelligent Apps. Along with its commercial products and solutions, Domo has a vast resource library with articles, reports, guides, webinars, videos, etc., that can enhance the knowledge and skill set of any Business Analyst – student or professional.
• BA Times²³
  BA Times is a huge repository of resources for Business Analysts. It hosts articles, white papers, conferences, and webinars and also offers valuable templates and newsletters to stay up to date.
• Modern Analyst²⁴
  Modern Analyst is a portal for businesses as well as business analysts. It offers training programs, directory listings, articles, etc., along with a vast network of fellow analysts.
• IIBA²⁵
  The International Institute of Business Analysis is worth its weight in gold when it comes to in-depth resources for Business Analysis. From certifications to events and career resources, IIBA is a one-stop destination for Analytics enthusiasts.