![]() Wages vary by geography, professional experience and educational background. Bureau of Labor Statistics (BLS) reports that operations research analysts earned a median annual salary of $83,390 in 2018. With the rise of big data, businesses rely more on business analysts to manage and interpret the information companies need to thrive. As such, business analysts are well-versed in creating easy-to-understand reports, memos and presentations. They must communicate these strategies and findings to other professionals who may not have quantitative knowledge. The methods that business analysts use include statistical analysis, simulations and predictive modeling. They then gather data relevant to these problems, particularly the challenges to managers, and develop mathematical models to find solutions. They find problems in an organization, such as areas of excess spending, bottlenecks in production, and blind spots in customer acquisition. Business Analyst Positionīusiness analysts help organizations make decisions based on advanced statistical methods. ![]() Business analytics is present in industries such as government, health care, hospitality, sports management and media. MSBA graduates enter the field with the skills necessary to create their own data-driven solutions. A Master of Science in Business Analytics (MSBA) degree exposes students to topics including data management, with an emphasis on building skills like quantitative modeling, data mining, data management, and the programming language SQL. This evidence can be based on performance data, such as sales or patient outcomes in health care, or it can predict future outcomes based on advanced mathematical modeling. Master of Science in Business Analytics Degreeīusiness analytics involves using data to inform corporate strategy based on numerical evidence. As the economic landscape continues to shift along with the development of new technologies, more organizations will come to recognize the need for business analytics to stay competitive and face a new generation of consumers. While these companies are well-established and nationally recognized, they were hailed as early adopters to new systems that simplify corporate processes and optimize efficiency. Wendy’s uses a full-scale analysis of its customer habits to help shape future decisions, whereas Dick’s uses analytics tools with its inventory decisions. Companies have learned the value of using data to inform their decision-making, and examples of this are prominent throughout many sectors.Īt a recent data conference in Texas, Dick’s Sporting Goods and Wendy’s presented their progress in incorporating business analytics into their operations. It offers an opportunity for high pay to qualified candidates with tech backgrounds. This position translates data into intelligible business insights. Business analysts perform essential functions across a wide variety of industries and organizations.
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