Is an MSc in Business Intelligence and Analytics Worth It?
This post was last updated on January 19th, 2024
Learning how to run a business and how to implement technology to it is a great way of standing out in job applications.
Utilizing the knowledge of this new and exciting field is crucial for any organization. MSc in Business Intelligence and Analytics focuses mainly on business data and its interpretation. The ability to efficiently interpret data is considered an extremely desirable skillset in this competitive world. The information found in the databases of any business has valuable information that can be utilized to improve and stay on the top of the game. This is the reason why Business Intelligence and Analytics courses are very much in demand.
Why should you pursue a degree in Business Intelligence and Analytics?
A degree in Business Intelligence and Analytics is a relatively new field of study. A variety of successful careers can be carved out of this degree. Students with interest in business decision-making, data visualization and analytics can opt for this degree. Businesses these days are focused on combining the potential of data with advanced analytics of high value. With the incredible amount of data generated at a fast pace, businesses tend to attract highly skilled professionals to cater to the demand.
What will you learn with a degree in Business Intelligence and Analytics?
Students can learn a lot about data analysis, extraction and the associated technology with the help of the knowledge acquired while pursuing a Business Intelligence and Analytics course. The students can –
- Understand and enhance their knowledge of analysis techniques;
- Develop skills for extracting, modifying and visually communicating the data;
- Develop critical understanding of management science theories and techniques;
- Explore the role of solutions in solving real-word business problems;
- Develop business intelligence;
- Learn to use highly specialized software packages;
- Develop practical skills.
What are the job prospects?
You can choose from a range of job roles once you have obtained your degree in Business Intelligence and Analytics. You can become a computer analyst or assume any role where data extraction and analysis is required.
Data Scientist
If you are interested in working solely on the technical aspects, then you can become a data scientist and work closely with coding, high-performance computing and managing databases. You can process and organize data and use machine learning for making predictions that can be leveraged for the benefit of any business. The ability to present and analyze data is crucial in the business world. Skilled data scientists are in high demand.
Quantitative Analyst
Quants, as they are popularly called, typically serve the finance industry and utilize data modeling for managing risks. They develop and implement data models for supporting investment decisions that promise consistent results. The ability to work with mathematical models is the core component of this job profile.
Business Consultant
If you are interested in managerial aspects, then you can become a consultant or a manager in the field of analytics. This job profile requires you to have a good grasp of analytics but not deal with them in detail. The consultant needs to be more focused on the bigger picture and work with the data team closely. Business skills desirable for this position are –
- Communication,
- Strategic thinking, and
- Leadership.
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