Business Analytics - Outlook and Education (2024-25)

BUSINESS ANALYTICS

Introduction to Business Analytics

In the ever-evolving landscape of modern business, data has become the lifeblood of decisionmaking processes. Business analytics, a field at the intersection of data science and business intelligence, empowers organizations to leverage data-driven insights for strategic advantage. By applying statistical analysis, predictive modeling, and data mining techniques, business analytics professionals extract actionable intelligence from vast datasets to inform key business decisions, optimize operations, and drive growth.

Business analytics is a field that drives practical, data-driven changes in a business. It combines the fields of business and computer science.

The business aspect requires both a high-level understanding of the business as well as the practical limitations that exist.

The analytical part requires an understanding of data, statistics, operation research and computer science.

Career in Business Analytics

The outlook for careers in business analytics remains exceptionally promising in 2024-25. With organizations across industries doubling down on data-driven strategies, the demand for skilled professionals adept at interpreting and harnessing data continues to soar. According to industry reports, the global business analytics market is projected to reach unprecedented heights, driven by factors such as increasing data complexity, the proliferation of digital technologies, and the growing emphasis on predictive analytics and artificial intelligence.

According to the BLS, the role of management analysts is expected to grow 11% between 2021 and 2031, which is much faster than the average for all occupations.

a business analyst who focuses on business operations like supply chains and production schedules, is expected to grow 23% between 2021 and 2031.

Employment of data scientists is projected to grow 35 percent from 2022 to 2032, much faster than the average for all occupations.

The U.S. Bureau of Labor Statistics reports that the average salary for business analysts is $104,660.

Steps to Become a Business Analyst

To embark on a career in business analytics, aspiring professionals typically pursue specialized education and training A Master of Science (MS) in Business Analytics is widely recognized as a preferred credential, offering a comprehensive curriculum that covers essential topics such as statistical analysis, data mining, machine learning, and business intelligence. Additionally, proficiency in programming languages such as Python, R, SQL, and data visualization tools like Tableau or Power BI is highly valued in the job market.

Step 1:

Earn a Bachelor's Degree in Business or Data Science

Step 2:

Get an Entry-Level Business Analyst Job

Step 3:

Earn Your Master's Degree

Step 4:

Get a Job as a Business Analyst

Ms in Business Analytics from St. John’s University:

St. John’s University stands at the forefront of business analytics education, offering cutting-edge programs designed to equip students with the skills and knowledge needed to excel in the field. With a commitment to academic excellence, practical experience, and global perspective, St. John’s prepares students for success in the rapidly evolving world of business analytics.

At St. John’s, students have access to a diverse range of courses, taught by industry experts and seasoned faculty members, that cover the latest trends, technologies, and methodologies in business analytics. The university’s state-of-the-art facilities, including high-tech laboratories, modern classroom buildings, and a comprehensive library, provide students with the resources they need to thrive academically.

Required Courses: Five Courses:

BUA 3330, Introduction to Business Analytics

BUA 3336, Big Data and Data Mining for Business

BUA 3337, Predictive Analytics and Business Forecasting

BUA 3338, Optimization and Simulation Methodology*

BUA 3350, Business Research Methods

Business Analytics Electives: One course from the following:

BUA 3310, Data Visualization: Principles and Techniques

BUA 3311, Machine Learning for Business

BUA 3312, Sport Analytics: A Managerial Perspective

BUA 3346, Linear Programming for Business Decision Making

IS 3339, Business Application Software

IS 3347, Business Data Communication and Network

IS 3351, Object Oriented Programming

IS 3352, Data and Database Management

Applied Electives: One Analytics course from other TCB departments.