Business analytics, which combines financial and mathematical principles with management and communication skills, is one of the most desirable degrees possible. While it’s not for everyone, it could be the perfect choice for your future. People study business analytics for many reasons, including career satisfaction and the ability to work for a variety of different companies. But most obvious is the potential for excellent pay. As we’ll show, some of the careers that are linked to business analytics have salaries well over the national average, and with experience, skill, and dedication, you could possibly earn over $100,000. This is also an in-demand field, so job growth is at least on par with the national average, and in many cases it outpaces the national numbers.
THE CAREER PATH
A major advantage of the business analytics career path is that these skills can be applied to virtually any industry. If you are interested in sports, for example, you could apply your ability to analyze finances to the success of a sports team or a league. If you’re an outdoor enthusiast, you could use your knowledge to keep a nature-focused nonprofit running. Name a business, industry, or general hobby, and there is a realistic way to apply the skill learned in an online business analytics program. Potential careers for graduates of business analytics include…
Budget Analyst—An organization’s finances are crucial to overall success, and a budget analyst can help organize spending, income, tax payments, and many other financial factors. They are different from accountants, as they are more actively engaged in the business, informing managers and helping achieve financial efficiency as a participant in the company. They likely won’t file taxes like an accountant, but will instead prepare budget reports and monitor spending. This field earns a median salary of $76,220 and requires a bachelor’s degree.
Management Analyst—Numerous part of a business or organization can be improved. In many cases, management, and the choices made by management, can also be made more efficient and effective. From top to bottom, creating better results is the responsibility of a management analysts. These professionals, who often work as independent consultants, advise managers on changes they can make to improve the company. This position brings in a median salary of $83,610 and requires a bachelor’s degree.
WHO IS THE IDEAL CANDIDATE?
There are many different careers that can result from an online business analytics degree, and they don’t all call for the same kind of skills and personalities. There are, however, a few important traits that will help you excel both in your education and, more importantly, in your career.
Because business analytics tends to combine both numbers and people, a comfort with both is crucial. You don’t have to be a math genius, and you don’t have to be an extreme extrovert, but having a general knack for numbers, and a comfort with communication and interpersonal interaction, is helpful. You won’t, after all, just sit in an office and crunch numbers; with business analytics you are an active, involved member of the team.
Other helpful traits include comfort with computers and a mind that can grasp and appreciate the importance of money to an organization. Also important is the ability to speak clearly and, when needed, bluntly. This is not a career for a “yes-man;” if current management choices are a causing a financial issue, it’s your responsibility to point them out. A “tell-them-what-they-want-to-hear” mentality is not the right approach, but people who can speak directly and clearly are excellent candidates.
WHAT SHOULD I LOOK FOR?
If you want a high-quality career, research these aspect before enrolling in an online business analytics program…
In-Person/Online Requirements: All of the programs featured in our database have at least 80% online learning. Some, however, will have a few in-person requirements. Research this aspect of the program, as it could create difficulty if you must be on campus for even a small time.
Coursework: Different business analytics programs will have different types of coursework, so look at the syllabus (the summary of classes) and make sure it applies to your future goals and aspirations.
Accreditation: Accreditation helps ensure a quality education. Business analytics and similar online programs are accredited by organizations like the AACSB and other institutions.
You can launch a world-class career in business analytics, and GetEducated.com can provide the resources and information you need to select the right program. With rankings, information, and a wealth of resources, we are here to help you find an online business analytics program that fits your goals for the future! Simply click on a program below to access tuition, accreditation, and admission information.