Business analytics is becoming an increasingly popular field of study, especially at the graduate level. An MBA (Master of Business Administration) with a concentration or specialization in business analytics provides students with important skills to succeed in today’s data-driven business environment. In this blog post, we’ll cover an introduction to business analytics, an overview of typical MBA programs, what you can expect to learn in an MBA with a focus on analytics, example courses, and how an MBA sets you up for a career in business analytics.
Business Analytics Basics
Business analytics refers to the ways companies collect, organize, analyze, share, and make use of data to gain actionable insights and drive better business decisions. It incorporates mathematics, machine learning, predictive modeling, statistics, and other advanced analytical techniques.
The core components of business analytics basics include:
- Descriptive analytics – understanding what happened in the past through metrics, KPIs, dashboards, and reporting.
- Diagnostic analytics – examining why something happened to gain more insights.
- Predictive analytics – using data to forecast future outcomes and trends.
- Prescriptive analytics – recommending one or more courses of action.
As data and analytics permeate virtually every business function today, demand for analytics skills continues to soar. Mastering business analytics can set you up for countless career opportunities.
MBA Program Overview
An MBA is a graduate-level business degree ideal for experienced professionals seeking to advance into senior management, leadership, or strategic roles. The core MBA curriculum encompasses subjects like operations, marketing, accounting, finance, human resources, business strategy, and more.
Many leading business schools now allow students to concentrate their electives within specific domains like marketing, finance, entrepreneurship, or business analytics. This enables you to gain deeper knowledge and skills for your target career path.
MBA programs are often designed as full-time 1-2 year programs, with part-time or online format options for working professionals. Admissions requirements typically include a Bachelor’s degree, GMAT/GRE scores, essays, letters of recommendation, and work experience.
Introduction to Analytics Coursework
Business analytics coursework within an MBA helps students leverage data, quantitative methods, and business intelligence to improve decisions and performance. Introductory classes provide a foundation in core concepts and an overview of applications across different business functions.
For example, an Introduction to Business Analytics course explores analytic capabilities around data visualization, dashboards, optimization techniques, predictive modeling, and data mining. This establishes a broad understanding of how analytics can inform decisions in areas like operations, marketing, and finance.
Other beginner-level classes like Business Statistics and Quantitative Analysis focus on building baseline statistical skills. This includes probability, regression modeling, hypothesis testing, mathematical applications, and using tools for statistical computing.
Additionally, IT/IS Fundamentals courses provide groundwork in information systems and technologies. Students learn about databases, networks, system development, security, and existing analytics platforms.
Higher-level courses allow you to apply techniques to specific business domains, such as web analytics, financial modeling, risk management, marketing analytics, and supply chain optimization. Capstone projects and internships offer hands-on training.
MBA Course Content
MBA programs offer elective courses that allow students to build business analytics skills tailored to specific functions and industries. Through case-based learning, students get hands-on practice applying techniques like predictive modeling, data visualization, and statistical analysis to real challenges across areas like marketing, finance, operations, and more.
Example course topics include Web and Social Media Analytics, Financial Modeling and Risk Analysis, Marketing Mix Modeling, and Supply Chain Optimization. The range of choices enables students to customize their analytics education to the types of roles or sectors they plan to pursue after graduation.
Starting Business Analytics
An MBA with an analytics focus equips you with the perfect foundation for various business analytics career paths. Many graduates leverage their MBA into analyst, manager, or director roles within business intelligence, advanced analytics, big data, strategy, or operations.
Top industry sectors hiring MBA business analytics talent include management consulting, information technology, financial services, retail, manufacturing, healthcare, and marketing.
Conclusion
With the right MBA training, passion for data-driven decision-making, and some hands-on experience, the possibilities for launching your business analytics career are endless. Core analytics skills learned in an MBA program remain highly valued across virtually every industry.
