Most industries rely heavily on data. From smaller datasets covering quarterly earnings to large sets analyzing years’ worth of medical studies, data helps inform and direct decision-makers. Those interested in taking on leadership roles involving data should consider a data analytics MBA degree.
Today, data analytics specialists are critical to basically every industry thanks to an increased demand for workers who know how to analyze, visualize, and interpret data. An online Data Analytics MBA will help you develop the skills required to analyze data while giving you the type of broad, hands-on experience employers desire.
In this article, we will tell you how an Data Analytics MBA can help your career, including landing a leadership role and increasing your salary potential.
What Is an Online Data Analytics MBA Degree?
There are a variety of degree specializations you can earn through an MBA (Master of Business Administration). A Data Analytics MBA is a specialized degree that provides learners with the knowledge, experience, and skills to qualify for jobs as data scientists.
Data scientists not only process data to gain actionable insights, but also create visualizations to help decision-makers understand what data indicates. This degree also opens doors for those who want to work in data leadership positions in nearly every industry, including roles in both the public and private sectors.
You can finish an online Data Analytics MBA in as little as one year through Walsh University. Walsh's 100 percent online MBA program requires no GMAT and offers a targeted approach to ensure effective instruction in skills that matter most for data insights.
A Data Analytics MBA opens doors for those who want to work in data leadership positions in nearly any industry.
Can You Increase Your Salary?
Post-baccalaureate degrees, including MBA degrees, are strongly desired for the type of leadership positions that provide higher salaries. One study from RelishCareers found that those who earned an MBA experienced a 50 percent salary increase, while a Financial Times study found a 115 percent increase in salary within 3 years.
Among the jobs available for those with a Data Analytics MBA, data analysts currently earn over $74,000 per year, on average, while data scientists average close to $95,000. Some data scientists can earn upwards of $126,000 per year.
An MBA degree substantially increases salary; some data scientists earn over $126,000 annually.
What Is the Job Outlook for Business Data Analytics?
Data analysts of all kinds are highly sought after across industries. According to the Bureau of Labor Statistics, job demand for operations research analysts, including business data analysts, is expected to grow 26 percent by 2028. The BLS expects over 28,000 jobs to be added to this industry within the next 10 years.
Most related analyst fields are also expected to grow over the next 10 years. For example, the BLS predicts market research analyst jobs will grow 20 percent by 2028, with over 139,000 jobs added between 2018-2028.
With above average job growth, data science role availability is expected to grow through 2028.
Will a Data Analytics MBA Make You a Better Leader?
Data analysis is a necessary and specialized skill set in every industry. Businesses, start-ups, and government departments increasingly require workers who not only know how to manipulate and analyze data, but who can help interpret it, steering organizations in the proper direction based on what the data says.
An online Data Analytics MBA offers the type of coursework you will need to develop these highly valuable skills. One PwC study found that “data-enabled analyst” jobs, including data-driven decision-makers and functional analysts, were strongly desired in almost every industry.
Can You Develop In-Demand Data Analytics Skills?
With a Data Analytics MBA, you will learn key skills necessary to succeed in the open data specialist market largely accessible to decision-makers.
The program imparts key understanding and skills such as:
- Database management software
- Business intelligence tools
- Data collection
- Statistical analysis
- Quantitative research techniques
- Hypothesis testing
- Research reporting
- Applied analytics
Additionally, you will expand critical soft skills that employers find valuable for leadership positions, such as ethical management practices, problem solving, and conflict resolution. A combination of technical and soft skills are required for management roles in data science and data analytics.
Effective leaders are well-rounded; a Data Analytics MBA will help you develop both technical and soft skills.
What Other Roles Benefit from a Data Analytics MBA?
Those who obtain a Data Analytics MBA can work in any field where data analysis or an understanding of data is important.
Other fields those who have earned a Data Analytics MBA have found work in include:
- IT Systems Analysis
- Digital Marketing Management
- Market Research Analysis
- Financial Analysis
Any position in which data plays an integral role can empower leaders to make informed decisions. There is no limit to the value of understanding data, how to collect it, and what it means.
Can Entrepreneurs Benefit from a Data Analytics MBA?
It is increasingly difficult for business leaders to survive without a keen understanding of data, or without hiring someone who possesses that skill set. Entrepreneurs can benefit significantly from a Data Analytics MBA thanks to the significant impact sound data analysis has on the early and on-going success of businesses.
As a business owner, you will encounter critical issues only solvable with data analysis.
An online data analytics MBA can equip you with the tools to:
- Analyze and interpret sales figures
- Create and understand customer profiles
- Predict and prepare for interruptions to your business
- Improve customer retention
- Develop and refine advertising campaigns
Most problems in business can be viewed through a data lens. As your business grows, you will collect more data, which can be analyzed for trends and insights.
Walsh's Online Experience
Walsh University's online Data Analytics MBA produces graduates with the knowledge and experience to lead organizations through data-critical decisions, or to start a business with a strong foundation in data analysis.
Students learn in an interactive environment, consisting of in-depth online lectures and group discussions. Walsh’s 13-to-1 faculty-to-student ratio ensures classes are small and allow for a greater connection between teachers and students. Instructors also provide their email addresses and phone numbers to students, encouraging 1-on-1 communication.
Walsh’s online MBA emphasizes real-world leadership skills. To that end, all students take a leadership practicum course and are assigned a mentor equipped to provide high level guidance in business management.
Students will find Walsh University’s structure refreshing compared to the physical classroom. With video lectures viewable at any time and asynchronous communication that works with any schedule, the program is well-suited for working adults.
Walsh's online Data Analytics MBA is flexible and designed for working professionals.
What Data Analytics Courses Are Available?
The online Data Analytics MBA degree program at Walsh University provides requisite coursework in data leadership.
You will learn management and decision making for data by taking courses such as these:
- Managerial Perspectives
- Database Strategies
- Strategic Management
- Quality and Performance Management
Students also take a comprehensive range of business administration courses necessary for leadership roles. These include core classes in Financial Accounting and Management, Marketing, Information Systems, and hands-on Leadership Experience Practicums.
How Do I Get Started?
Walsh University offers a highly-rated MBA degree program. U.S. News and World Report listed Walsh's MBA program as a 2019 Best Online Program. Further, Walsh’s DeVille School of Business hires industry experts for all courses. Finally, the Data Analytics MBA emphasizes hands-on learning through real-world scenarios and thoroughly developed coursework.
Click here to learn more about Walsh's online Data Analytics MBA program.