What can you do with a Specialized Master in Business Analytics?

From the public to the private sector, organizations are drowning in data. Now, more than ever, companies need analysts who can make sense of complex information and provide meaningful insights. 

If you’re interested in mastering data analytics and are ready to become an in-demand expert, consider The Ohio State University’s Specialized Master in Business Analytics (SMBA). The 100% online, STEM-designated program is built for working professionals. Whether you want to elevate your existing business analytics knowledge, or execute a career shift into this growing field, the SMBA can help you get there. 

In this article, we’ll first describe the business analytics master’s program at Ohio State, and then explore what a business analyst actually does, as well as specific business analytics careers. 

What is the Specialized Master in Business Analytics? 

At this point you may be wondering, what is a Specialized Master in Business Analytics, and how does it differ from a data analytics degree or an MBA? What is so “specialized” about it anyway?  

Let’s break it down. The online Specialized Master in Business Analytics is an advanced business degree that equips students with the technical skills to harness, interpret, and analyze data. The SMBA’s curriculum is a unique blend of data science and business expertise. Put simply, you’ll learn how to extract insights from data and apply those insights to improve productivity, growth and business innovation.  

With courses in data management and statistics, as well as finance, leadership, and organizational behavior, you’ll become a well-rounded and sought-after data leader. You’ll also learn from the best: These courses are taught by industry experts, as the SMBA degree is offered through the Max M. Fisher College of Business – a highly-ranked, AACSB-accredited institution. 

For the final step in your program, you’ll put those new skills to work with a capstone project that utilizes real-world data from a corporate partner. By the time graduation arrives, you’ll be well-prepared for a career in business analytics. 

What can you do with a master’s in business analytics?

A master’s in business analytics will qualify you for a variety of data-focused roles, such as a business intelligence analyst, budget analyst or operations research analyst. You could also work in information security or intelligence. No matter the industry, organizations need analysts who can transform data sets into actionable insights and inform their decision-making. To decide if the field is right for you, let’s unpack what a business analyst does, how much money a business analyst makes, and other important details about the field of business analytics. 

What does a business analyst do? 

Business analysts may produce financial and market intelligence, using data to identify trends and make predictions. They can also use insights from data to help leaders develop policies or identify risks.  

Let’s get more specific with job titles. Operations Research Analysts, for example, formulate and apply mathematical modeling to guide managerial decision-making within a company. Budget Analysts may use those same skills to develop and monitor an organization’s budget and finances. 

Analytics skills are also critical to the security sector. For example, Intelligence Analysts use data to anticipate and prevent organized crime, while Information Security Analysts use their expertise to assess IT system vulnerabilities and implement solutions. 

What is the salary of a business analyst? 

Business analytics skills are highly valued, and as such, business analysts can reach six figures annually. While Budget Analysts earn around $88,000 a year on average, Information Security Analysts can make over $120,000 per year. Your annual salary depends, of course, on your industry and location, but it’s clear that business analytics expertise leads to competitive pay. 

What are the necessary business analyst skills? 

Business analysts must be equipped with both technical expertise and strong communication skills. In addition to using your analytical abilities to interpret data, you’ll also need to be strategic, detail-oriented and creative as you communicate predictions, make recommendations and solve problems for your organization. Ohio State’s SMBA will hone your descriptive, predictive and prescriptive analytics skills, while also strengthening your business administration know-how. 

Are business analytics careers in demand? 

As you might have guessed, business analysts are in high demand, as data becomes more accessible and foundational to an organization’s success. In fact, 87% of respondents in a recent McKinsey survey said their organizations are facing skill shortages in areas like data analytics.  

It should come as no surprise that many of the job titles we mentioned above are predicted to experience rapid growth in the next few years. The Bureau of Labor Statistics estimates that employment of Information Security Analysts is projected to grow 33% from 2023 to 2033, while Operations Research Analyst jobs will see 23% growth over the same period. 

To prepare students to meet this growing demand for business analysts across industries, the SMBA degree also requires the completion of elective courses. Students can drill down into specific areas of expertise or explore their personal interests. For example, if you’re interested in artificial intelligence (AI) and its impact on data analytics, there’s a class for that! You can take “Artificial Intelligence and Machine Learning” as part of your elective coursework to tailor your degree to the needs of the moment. Other elective courses include Sports Analytics, Customer Satisfaction and Loyalty Analysis, Data Driven Marketing, and Quantitative Product and Pricing Analysis. 

 
Ready to become an in-analytics expert and join this growing field? Contact our enrollment team today to get started.