Data is everywhere. From consumer behavior and transactions to business operations, marketing, and even city management, data is constantly being generated. Picture a river swelling after days of heavy rain – more and more data keeps flowing in, without stopping.
But like a river spilling over its banks, much of this data goes unused, unexamined, and wasted. For businesses, this means missed opportunities and lost revenue. The challenge is not just collecting data but understanding it. As data grows, businesses are struggling to keep up with analyzing and making sense of it. This issue, often described as being “data-rich but information-poor,” is a common struggle for many organizations today.
This is where business analysts come into play. These professionals use data not only to understand what has happened but also to predict what could happen next. The growing demand for business analysts reflects their increasing importance in today’s world. As a result, many graduate students are now pursuing a Data analytics degree or master’s degrees or MBA concentrations in business analysis.
The Business Analytics Skills Gap
The ever-expanding river of data carries with it the promise that “information is power.” For large organizations, having centralized access to this information is crucial for efficiency and profitability. This data helps businesses understand both internal operations andtic external factors, allowing them to plan for the future effectively.
Despite the resources available for data collection and analysis, many businesses still struggle. Take, for example, a situation where one company acquires another, promising improved performance and greater shareholder value. To fulfill this promise, the company needs to merge data from both companies, whether it’s consumer data, supply chain information, or employee productivity metrics. However, combining these systems is often easier said than done. Different companies, or even different departments within the same company, may use separate, outdated systems that don’t communicate well with each other. These “silos” of information can contain valuable data, but without someone skilled in business analytics, this data remains underutilized.
Why Businesses Need Business Analysts
For businesses to grow and succeed, they need strong business analytics. And this isn’t just true for large corporations. Today, even small businesses and startups can access and benefit from advanced data tools like artificial intelligence and cloud-based software.
A study conducted by MicroStrategy, called the “2018 Global State of Enterprise Analytics Report,” surveyed 500 professionals from various industries to understand the demand for business analysts. Some key findings include:
- 71% of businesses plan to increase their investments in data and analytics in the coming years.
- 57% have a Chief Data Officer focused on making data and analytics more accessible across the organization.
- 52% of companies use advanced and predictive analytics to gain deeper insights and improve decision-making.
These findings highlight how crucial business analytics has become. Companies that effectively analyze data can boost efficiency, drive strategy, improve financial performance, and make better decisions. On the other hand, companies that fall behind in this area face numerous challenges, including wasted time, missed sales opportunities, delayed product launches, and poor internal assessments.
The Value of a Master’s Degree in Business Analytics
There is often confusion between business analytics and data analytics. While data analytics focuses on tactical issues like where geography and weather might affect a product launch, business analytics takes a broader view. Business analysts use data to develop strategies, such as deciding where to allocate resources or how to plan for future challenges.
Data analysts dive deep into large datasets to identify patterns and trends. They use techniques like data mining, data modeling, and data science to uncover insights. Business analysts, on the other hand, go beyond the data to understand the bigger picture. They analyze past data to identify trends and patterns, helping businesses understand why things happened as they did and how they can plan for the future.
Business analytics is particularly powerful in areas like social media and online shopping. According to the “Data Never Sleeps 9.0” report by Domo, a business intelligence software company, the amount of data generated every minute is staggering:
- 240,000 photos are uploaded to Facebook every minute.
- 167 million TikTok videos are watched every minute.
- 575,000 tweets are posted on Twitter every minute.
- 5.7 million Google searches are made every minute.
- $283,000 is spent on Amazon every minute.
- $304,000 is transferred via Venmo every minute.
For businesses, this data can be incredibly valuable, but only if they know how to use it. Business analysts play a critical role in sifting through this data, separating useful information from the noise, and providing actionable insights.
Growing Your Career in Business Analytics at Pepperdine Graziadio
If you’re considering a career in business analytics, Pepperdine Graziadio offers several programs tailored to different career stages and goals. These programs are designed to equip you with the skills needed to thrive in today’s data-driven world.
- Full-Time Master of Science in Business Analytics (MSBA): This program is ideal for individuals seeking a career in analytics. The curriculum, which can be completed in as little as one year, is STEM-designated and focuses on areas like predictive analytics, risk management, and optimization modeling. Graduates are prepared to lead organizations by making evidence-based decisions that drive results.
- Full-Time or Part-Time MBA with a Concentration in Business Analytics: This option is perfect for those looking to enhance their business acumen with a strong analytical skill set. The concentration includes core courses in decision sciences, such as advanced statistical tools and predictive analytics, along with electives in areas like supply chain management and healthcare analytics. This flexible program is designed to fit the needs of both full-time students and working professionals.
Pepperdine Graziadio’s programs are designed to close the skills gap in business analytics, providing you with the tools needed to make data-driven decisions that can transform organizations. Whether you choose the full-time MSBA or the MBA with a business analytics concentration, you’ll be prepared to take on the challenges of today’s data-rich environment.
Conclusion
The demand for business analysts is growing as companies recognize the value of data-driven decision-making. A master’s degree in business analytics not only opens doors to exciting career opportunities but also positions you as a leader in the field. As businesses continue to generate massive amounts of data, the ability to analyze and interpret this information becomes increasingly crucial. By pursuing a degree in business analytics, you’re not just gaining a valuable skill set—you’re preparing to shape the future of business in a data-driven world.