Business analytics is a widely encompassing topic that differs from business intelligence as it focuses primarily on why things happened, rather than simply describing what occurred. Business analysts apply a range of statistical methods and models to crunch data and explain processes within the world of business.
As you might expect, this is a big field of study and a Master of Science in Business Analytics from TUW opens a range of doors across different sectors. Potential employment prospects include data architect, data analyst and project manager to name but three. The skills that this degree develops are widely applicable, though, and will appeal to multiple employers.
#1 Technical skills
Business analytics degrees require a high level of technical know-how which extends well beyond the ability to process data and draw conclusions. Students in this field will become familiar with a range of programming languages including popular variants like C++ and Java, as well as newer, more niche languages. That will allow you to understand the deeper processes at work when you analyze a businesses problem, which in turn facilitates more nuanced conclusions. Of course, you’ll also become adept at using databases, different testing methods and data processing.
Perhaps the most important skill of all, problem solving will form a large part of your degree. Problem-solving represents the creative side of the course. You’ll learn how to approach difficulties with an open mind, reaching innovative solutions both individually and as part of a group. This demands critical thinking and also encourages you to analyze data to identify subtle market trends, forces, and hitherto unnoticed undercurrents within the business.
#3 Communication skills
Of course, none of this would be useful without excellent communication skills, and a business analytics degree will teach you just that. You’ll learn how to communicate your findings in a clear and concise manner, always with an emphasis on how they might be implemented to improve the performance of the business. If you notice data analysis companies like KNIME (https://www.knime.com/software-overview) or similar others, you can see how their analysis interpretation often involves extensive teamwork. Therefore, when you start working in this field, not only will you be working within your own group, but cross communication will be key, and there will be times when different teams will need to cooperate to solve a problem. All of this demands finely honed communication skills, sometimes under time pressure.
#4 Time management
Speaking of pressure, a business analyst must get used to working under it. Time pressure can be a real problem, but the degree will teach you how to manage your time, juggle deadlines and work efficiently. You’ll learn which tasks need to be prioritized and how to manage long term projects alongside those that demand immediate intervention. All of this equates to enhanced personal management skills and you’ll find that you complete the degree with far higher levels of personal motivation.
These skills aren’t just useful within the world of business analysis, but they’re widely transferable. A degree in business analytics teaches a skill set that’s invaluable in any career path, in any sector, and even outside the job market.
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