Business Analytics is a combination of Data Analytics and business processes. Business Analytics refers to the skills, and practices for continuous iterative exploration and investigation of past business performance to gain insight and galvanize business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods.
Business analytics depends on sufficient volumes of high quality data. The difficulty in securing data quality is combining and reconciling data across different systems, and then deciding what subsets of data to make available. Business analytics uses statistical analysis, modeling to help decision making.
Some universities include MS in Business Analytics in their Engineering schools while some include it in their business schools. Keeping this in mind, you have to check whether your university will require you to submit a GRE or a GMAT score.
In USA, it is considered a STEM course.
Basic requirements include:
Various subjects include:
Although the fees vary from university to university, the average tuition fees and monthly cost of living for master’s in Business Analytics in different countries are:
Masters in Business Analytics in USA: $43,466 ; $1,000
Masters in Business Analytics in UK: £28,300 ; £1,500
Masters in Business Analytics in Canada: CA$46,400 ; CA$1,500
Masters in Business Analytics in Australia: AU$32,000 ; AU$2,000
The main job of a business analyst would be to act as the bridge between the technical and business sides of the company. They need to have a deep understanding of the business aspects as well as be able to make conclusive decisions based on data reports.
The average salary given to business analysts in different countries is given below:
Average Salary of a Business Analyst