In today’s data-driven world, integrating business acumen and analytical expertise is paramount. Organizations are increasingly seeking professionals who can harness data to inform strategic decisions.
This trend has led to a surge in demand for roles that blend these skills. The online Master of Science (M.S.) in Business Analytics program from Southern Utah University (SUU) equips graduates with the theoretical knowledge and practical experience necessary to excel in various positions within this dynamic field.
Finding a Job in Business Analytics
Business analytics are the methods and technologies that companies use to process, mine and visualize data, which can help them uncover patterns and insights to increase profitability and efficiency, according to IBM. This data can be public or privately owned and helps executives and their staff monitor their organization’s performance, where it has room to grow and how it can better serve customers.
These professionals are good communicators, problem-solvers, visualizers and big-picture thinkers who aren’t afraid to dive into the details to discover where to take their business next, according to Harvard Business School. Career opportunities in the field include roles as a data scientist, data analyst, business analyst, business process analyst, marketing analyst and system analyst.
Data Scientist
Data scientists are pivotal in interpreting complex datasets to extract actionable insights. Their responsibilities encompass developing algorithms, building predictive models and utilizing machine learning techniques to forecast trends and behaviors, according to IBM. By transforming raw data into strategic assets, they enable organizations to make informed decisions.
According to the U.S. Bureau of Labor Statistics (BLS), data scientists earn a median annual wage of $108,020 in May 2023. The BLS also projects a 36% employment growth for data scientists from 2023 to 2033, much faster than the average for all occupations.
Data Analyst
Data analysts play a crucial role in collecting, processing and performing statistical analyses on data. They identify patterns, relationships and trends within datasets, providing valuable insights that inform business strategies, according to Investopedia.
Their work often involves creating visualizations and reports to communicate findings effectively to stakeholders. BLS categorizes data analysts under the same umbrella as data scientists, with a median annual wage of $108,020.
Business Analyst
Business analysts bridge IT and business units, ensuring that technological solutions align with organizational goals. They analyze business processes, identify areas for improvement and facilitate the implementation of solutions to enhance efficiency and effectiveness, according to Investopedia.
Their role often involves stakeholder communication, requirement gathering and project management. Investopedia estimates that an entry-level business analyst will make an average annual salary of $80,350, while a senior-level employee makes $102,232. Overall, the average salary is $85,600 per year.
Business Process Analyst
Business process analysts focus on evaluating and improving organizational processes. They assess current workflows, identify inefficiencies and recommend solutions to optimize operations, according to Indeed. Their goal is to enhance productivity and reduce costs by streamlining business activities.
Key responsibilities include process mapping, data analysis and collaborating with various departments to implement changes. While specific salary data varies, ZipRecruiter reports that these analysts earn an average annual salary of $78,617.
Marketing Analyst
Marketing analysts specialize in interpreting market data to guide marketing strategies. They analyze consumer behavior, market trends and campaign performance to provide insights that drive marketing decisions, according to Indeed. Their analyses help companies understand market dynamics, optimize promotional efforts and identify growth opportunities.
Responsibilities include data collection, statistical analysis and reporting findings to marketing teams. ZipRecruiter lists the average annual salary as $92,811.
System Analyst
System analysts are responsible for designing and implementing IT solutions that meet business requirements. They analyze existing systems, identify areas for improvement and oversee the integration of new technologies, according to Indeed.
Beyond technological support, their role ensures that IT infrastructure aligns with organizational objectives and operates efficiently. Compensation for systems analysts ranges widely, but Indeed lists the average salary as $80,731 annually.
Developing Business Analytics Skills With Southern Utah University
SUU’s online M.S. in Business Analytics program offers a comprehensive curriculum that prepares students for these multifaceted roles. The program emphasizes the development of key competencies, homing in on quantitative analysis techniques for decision-making in courses like Management Science I.
Students learn to build models that forecast future trends, opening the doors to a variety of career paths where data-driven decisions are paramount to an organization’s future success. Whether students aim to become data scientists, business analysts, business process analysts, marketing analysts, system analysts or other types of analytics professionals, they are equipped to thrive with an M.S. in business analytics from SUU.
Learn more about Southern Utah University’s online Master of Science in Business Analytics program.
