What is business analytics?
Business Analytics is used in almost every industry that needs to track services, product, and other moving pieces that help build and maintain a business. From analyzing the market to understand the latest viewing trends online to making decisions on which tool helps drive innovation, analytics is the study of data through statistical analysis and techniques that help drive informative decision making.
Why should I consider majoring in business analytics?
Research shows that business analytics jobs are growing steadily at an increase annual rate of 15%. Business Analytics careers will allow students to collect data through a variety of methods, evaluate the quality and relevance of that data, identify patterns in the data using a variety of analysis methods, and automate these processes to support the development of strategy in a complex decision domain. In this major, students will learn well-developed analytical skills, specifically in terms of critical reasoning and technical expertise.
What interests and values are related to business analytics?
Business Analytics students are typically driven by what statistics can do to drive better outcomes. This major is for anyone who wants to be able to use data to drive decisions. Business Analyst Resources online magazine states that the trend for Business Analysts revolves around three main themes including:
- Business Agility
- Engagement of stakeholder to drive agility and innovation
The article discussed key skills needed to be a successful Business Analyst including:
- Conceptual modeling
- Being able to communicate details and concepts - particularly if you are working with various team members with a variety of backgrounds and experiences
- Ability to interpret/translate abstract information into details - understanding and interpreting what story the data tells, or what it could tell
- Leadership - being able to become a subject matter expert using data
What career fields are related to business analytics?
- Information Security Analyst
- Computer Systems Analyst
- Management Analyst
- Financial analyst
- Budget Analyst
How can I learn more about business analytics?
The Bureau of Labor Statistics - just search for your area of interest