In today's business world, organizations often rely on data to make evidence-based decisions and bypass potential problems. Employers in the business field need personnel who can interpret data and provide suitable recommendations. An MBA in business analytics equips you with skills in business and data analytics, positioning you as a qualified candidate in the job market.
What Does an MBA in Business Analytics Entail?
A master's program with a business analytics focus combines business and management with computer science and data. The degree typically consists of two types of coursework: core courses and concentration courses. These courses provide students with a well-rounded business education while allowing specialization in specific areas. Here are some of the core and concentration coursework concepts:
Core Courses
Core courses help learners gain practical skills in project management and related business management tools. They provide foundational knowledge and may include courses required for all MBA students. These courses can cover the following subject areas:
Management
Management courses are designed to help students learn how to manage data analytics initiatives and teams within an organization. These courses bridge the gap between the technical aspects of data analysis and the strategic decision-making processes of business leadership. Topics covered can include group dynamics, power and influence, corporate design, communication, leadership, learning and development, and motivation.
Accounting
The accounting courses explore the relationship between accounting information and managerial decision-making and control. Examples of topics covered include cost volume profit relationships, basic cost concepts, differential analysis, cost allocation, evaluation of financial planning, and product costing.
Quantitative Analysis
Quantitative analysis deals with the foundations and applications of inferential and descriptive statistics. These courses teach students how to convey data clearly using graphs and charts. Topics can include statistical inference, correlation and regression, inventory models, and time series forecasting.
Corporate Finance
In corporate finance courses, students learn about the models of financial management. These courses prepare learners for roles in organizational decision-making. Subject matters include financial statement interpretation, pro forma analysis, cash flow and working capital management, long-term financing methods, and security market efficiency.
Concentration Courses
MBA in business analytics concentration courses enhance your knowledge of technical topics like artificial intelligence in data mining and predictive analytics. Students learn to leverage data to increase efficiency, solve problems, and drive revenue. These courses can include the following subjects:
Business Analytics
Advanced business analytics courses cover converting data into insights for better business decisions. Topics can include challenges, issues, and methodologies related to business data analysis. During their coursework, students learn about data exploration analysis, data clustering, classification, and data cleanup.
Database for Business Analytics
Through database courses, students learn to use structured query language (SQL), the primary database language. The goal of these courses is to train students how to create SQL statements for data collection, storage, computation, and reporting. By the end of training, students can use relational databases to query, manage, and analyze business datasets.
Probability and Statistics in Data Analysis
Focused probability and statistics courses introduce the theory and applications of statistics and probability. Topics can include conditional probability, random variables, statistical inference, common distributions, and fundamental probability concepts. Students also learn practical skills like A/B testing, descriptive statistics analysis, and data visualization.
Consider an MBA in Business Analytics Today
Business analytics involves exploring, analyzing, interpreting, and transforming data into actionable insights. This field aims to support informed decision-making and drive business strategies. It includes various areas of study, such as business management, corporate finances, probability and statistics, and data analysis.
Whether you want to work in business intelligence or healthcare analytics, a master's degree in business analytics can provide you with the appropriate knowledge and training. Contact an accredited university today to learn more about their MBA program options.