Sunday, September 19, 2021

The Most Exclusive Guide to an MBA Data Analytics In 2021

Introduction

An MBA Data Analytics is a two-year degree course that helps you learn data analysis skills and business skills as well. The course prepares learners to structure and analyze data to get result-oriented data. Some subjects taught in the course are Big data, Python, Marketing analytics, Predictive Modeling, Cloud Computing, Information Security Business, etc. The course deals with entrepreneurship, financing, and all other aspects of businesses along with data analytics.

Eligibility criteria

Following are the eligibility criteria for an MBA in Data Analytics set by most of the universities globally: 

  • Bachelor’s degree from a recognized institution or university with a minimum of 50% score. 
  • Passing score certificates of any of the exams like GMAT, IELTS, or TOEFL.

Course Highlights of MBA Data Analytics

Course NameMaster of Business Administration
DegreeMaster’s
SpecializationData Analytics
Duration2 years maximum
Eligibility CriteriaAt least 50% in Bachelor’s degree other requirements as per institutes
Age LimitNo age limit applied
Average Fee
$8,000-$40,000
Course Highlights

MBA Data Analytics USA

Data is the currency of the new world. An MBA in Data Analytics will open up doors of opportunities in your career, and that too from the USA is commendable.  A master’s degree in the US is two years of full-time study and consists of 36 to 54-semester credits. The course ensures one is skilled and assessed with the knowledge required to face data challenges in businesses. 

We have collected some of the best MBA programs in Data Science provided in the USA.

UniversitiesLocationProgram OfferedTuition Fee(Approx)Duration
Arkansas Tech UniversityOnline/ On-CampusMaster of Business Administration in Data Analytics$20,200(Online) $11,400(On-campus)2 years
University of DaytonOnlineMaster of Business Analytics$1,095 Per Semester HourFlexible
Key West UniversityOnlineOnline MBA – Concentration in Data Analytics$10,29618 months
University of BaltimoreMount Vernon, USA or onlineMBA Data Analytics$840 per credit2 years
Utica CollegeOnlineMBA – Data Analytics$21,000+2 years
Top Colleges in USA offering an MBA in Data Analytics

Note: The fees stated are subject to change in the future.

MBA Data Analytics Salary

Data science is considered a booming field. The high demand for data analysis has opened a plethora of job opportunities. Data analysts need to perform statistical analysis and identify trends in data to find risk or growth opportunities. 

Data analytics involves a highly stimulating work environment. The impact it has on the business commands a high salary. Due to the high demand and long-term growth of this field, job stability is also much higher.  

The top hiring companies like Wipro, Amazon, TCS, Infosys, Dell, etc., offer top notch packages. According to Payscale, the average salary for a data analyst role is $61,650/year and that of the Director of Analytics salary is $129,471/ year.

MBA Data Analytics Syllabus

The syllabus for MBA Data Analytics is designed to challenge the students to critically analyze and evaluate the dimensions of business and management practices. The course deals with the following topics:

  • Essential Accounting: The topic correlates accounting and data analytics, and how accounting requires an analytical mindset?
  • Fundamental Statistics: The module deals with a statistical approach towards market research, data analytics, financing, and quality control output. Usage of software packages to interpret raw data is taught along with relevant techniques. 
  • Research Methodology: The purpose is to make students understand the process of market research and evaluate the evidence obtained. 
  • Business Communication: This subject hones students in communation within businesses. The MBA in Data Analytics aims to enable students in handling business effectively with analysis of data. 
  • Information Management Technology: The subject focuses on the application of technology in business tasks. Students are taught to strategically manage IT to enhance business

The course also involves Big Data, Marketing Analytics, Cloud Computing, Descriptive Analytics, Predictive Analytics, Information Security in Business, IT management, and so on. Subjects may differ with respect to the colleges and universities.

Necessary Hard and Soft skills: 

The essential skills required to complement your MBA in Data Analytics degree are:

  • Statistical methods like inferential and mathematical statistics
  • Programming languages such as Python, SQL or R
  • Data cleaning, mining and visualization skills
  • Problem Solving
  • Creative thinking
  • Strategic and logical thinking
  • Machine learning
  • Excel, Powerpoint, etc., tools

MBA Data Analytics Jobs

mba-data-analytics

Some popular jobs after an MBA in Data Analytics are:

  1. Operations Analyst: The job role involves analyzing a company’s policies, procedures and finding sections of improvement. You will be making reports and giving recommendations to the organization. The average pay is $60,000 per year for an operations analyst.
  2. Data Engineer: Data engineers are responsible for managing the data flow with various programming languages and tools. They identify gaps and improve efficiency. As per Glassdoor, the average salary for a Data Engineer in the USA is $1,17,189 per year.
  3. Data Scientist: With the application of machine learning, statistical modeling, and artificial intelligence, data scientists acquire and analyze large data sets to present evidence based results. The average pay of a data scientist ranges between $105,750 and $180,250 per year as per  Robert Half Technology’s 2020 Salary Guide.
  4. Data Analytics Consultant: The task involves understanding the needs of clients and providing value based solutions. The average pay for an Analytics Consultant in the US is $95,959 per year as stated by Glassdoor
  5. Quantitative Analyst: Quantitative analysts analyze market trends and present modeling decisions with analytical software tools. According to Glassdoor, the average salary for a quantitative analyst is $1,28,587 per annum.

Some other job roles for data analysts are:

Data Management Services 

Personal Financial Advisor

Financial Analyst

Data Architect 

Marketing Manager

IT Systems Analyst 

Management Analyst

MBA Data Analytics UK

mba-data-analytics

The Master of Business Administration in Data Analytics from the UK will open up a higher earning potential for professionals. The course deals with programming, market research, computer networking, software tools for data analysis, etc. The program helps individuals with theoretical knowledge and the ability to solve real world business problems with emerging technological aids.

The course fee for an MBA in Data Analytics in the UK ranges from  £16,000 to £73,000. The fee mainly depends upon the college and overall costs.

Here are the details of some best institutions in the UK for an MBA in Data Analytics.

UniversitiesLocationProgram OfferedTuition Fee(Approx)Duration
Arden UniversityOnlineMBA (Data Analytics)£10,95018 – 60 months (Flexible)
University of BedfordshireOn-campusBusiness Administration with Data Analytics£12,7502 Years
Nottingham Trent UniversityOnlineOnline Masters of Business Administration with Data Analytics£17,000
*Installments available
2.5 years or 1.5 years (fast track)
Universities offering MBA in Data Analytics in the UK

Which has better career option: MS in data science vs MBA with data science specialization

MBA graduates with a concentration on data analytics work upon a wide range of industry-specific tasks and scope for further growth of businesses. Whereas, an MS in data analytics makes individuals specialized in technical areas, and also work closely with business functions. 

An MBA in data analytics from a top school gives a wider career opportunity and a relatively higher package. Meanwhile, an MS in data analytics makes one more concentrated technically rather than business-specific outlook. 

You might also like: 21 Amazing Big Data Tools That Will Lead Your Business To The Next Level in 2021

Package Comparison: 

On average, an MBA degree will pay you more than an MS in data analytics. As reported on Glassdoor, the average payout for an MBA in data analytics is $87,318 per year in the United States. But, an MS program will fetch you an average salary of $79,999 per year in the United States.

An MS program in data analytics is quicker to finish and much affordable than an MBA. But, an MBA in data analytics will make you more business-centric with technological aids. You need to reflect on the required skills and scope while choosing any of the two programs.

Why should you earn a data analytics MBA DEGREE?

In today’s world data plays a crucial role in the advancement of any business. The acquisition and interpretation of data help in making well-performing products and services. An MBA degree will make you a data and business-oriented professional. The program focuses on analyzing data and using it for the growth and improvement of businesses with different tools. An MBA degree also comes with good marketing and networking skills that add up to your professional growth. The data analytics program in MBA will give you the ability to convert raw data into useful information.

What is an online Data Analytics MBA degree?

An MBA degree equips one with management, communication, and business skills along with data analytics skills. One looking for a leadership role in businesses must go for this program. An online MBA in data analytics will open up higher positions for you. Most of the world’s renowned institutes offer online distance learning opportunities. The course is flexible in nature and allows individuals to meet their educational or professional goals along with other responsibilities. 

Future Scope of MBA in Data Analytics

Careers involving data are estimated to grow manifolds. Businesses need professionals who manage and analyze data for the growth and improvement of products. Some prominent roles you can take after an MBA in Data Analytics are Business Intelligence Units of Banks, Operations Analyst, Data Engineer, Data Analytics Consultant, Healthcare Data Analyst, Business Analytics and Research Industry, and many more. The enormous data sets generated each second are sure to provide employability in the present as well as in the long term.

College & Universities offering MBA in Data Analytics

A well-renowned institution adds value to your skillset and opens wider career opportunities. We have collected all the necessary information from some esteemed colleges and universities around the globe that offer an MBA in Data Analytics. 

  • The University of North Dakota’s College of Business and Public Administration: The institution offers an online MBA in Data Analytics. The course duration is 1.5+ years and the complete tuition fee ranges from $15,000 to $19,999. The course ensures complete development in business skills along with data handling skills.
  • The University of Massachusetts Amherst: The university offers two flexible programs for an MBA in data analytics. The university holds the #3 rank worldwide in Global Online MBAs as per the Financial Times. The complete tuition fees for both of the programs lie between $30,000 and $49,999. 
  • University of Wisconsin-Whitewater: The university offers online as well as on-campus programs that cost somewhere between $20,000 to $29,999. The course curriculum is designed to enable students with required business and data analytics skills.
  • University of South Dakota: The Beacom School of Business of the university offers an online distanced MBA in data analytics program. The fee is pretty much affordable, $15,000 and $19,999.
  • Ducere Global Business School: The institute offers an online full-time or part-time MBA in Data & Cyber Management program. The AU $33,048.
  • Galgotias University: The university in association with IBM offers an MBA in data analytics for potential learners. The fee as stated on the official website is $2,667 which is much affordable. The program is scheduled for 2 years. 
mba-data-analytics
University of North Dakota’s College of Business

Conclusion:

If you are looking forward to businesses with data-oriented opportunities, then an MBA in Data Analytics will prove to be a fair choice. The program not only guides you with business skills but data skills as well. Leadership roles and higher positions are offered to MBAs by top companies like Amazon, Google, TCS, Infosys, Facebook, etc. 

Check out the university requirements, fees, and head over to the application process for the desired program.

Will a data analytics MBA make you a better leader?

An MBA degree instills management, communication, and strategic skills in professionals. Thus, it ensures a better leader persona.

Can you develop in-demand Data Analytics skills?

Yes, you can develop the necessary skills in data analytics. The required skills are presentation skills, SQL, Programming language, Microsoft Office skills, Critical thinking,  marketing, and communication. These skills can be acquired by taking courses, watching videos, and learning modules.

Can entrepreneurs benefit from a data analytics MBA?

An MBA in Data Analytics builds your data skills in concentration with business demands. Leadership qualities and strategic thinking help in managing businesses with the correct usage of data sets and trends.

What can I do with an MBA in Data Analytics?

An MBA in Data Analytics opens up higher roles in businesses like Computer Analyst, Software developer, Management Analyst, Quantitative Analyst, etc. The program enables one for jobs as well as an entrepreneurial journey.

Is an MBA in data analytics worth it?

Yes, it is worth every penny and time. The program enables you to get business specific information from huge data sets and gets you a higher position with a much higher package.

Is Data Science better than an MBA?

A Data Science program specializes in technical aspects whereas an MBA enables one with business skills along with data skills. Thus, an MBA will help you get into business centric roles like CEO, executive, or entrepreneur.

How would the demand for MBA in Data Analytics be in the next 5 years?

There is no job without the involvement of data. With the rising demand for data specialists, the job proves to be stable for more than 5 years in the future. Not only MNC’s, startups too hire MBAs for their business growth.

The Most Exclusive Guide to an MBA Data Analytics In 2021

"I make chemistry with words and chemicals"Hey! I am Radhika Mishra, a chemistry enthusiast, and a freelance content writer. I love writing and have been working on regular projects with websites, blogs, and startups. I also help entrepreneurs with LinkedIn branding and optimizing their profiles. Thanks for reading!

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The Most Exclusive Guide to an MBA Data Analytics In 2021

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"I make chemistry with words and chemicals"Hey! I am Radhika Mishra, a chemistry enthusiast, and a freelance content writer. I love writing and have been working on regular projects with websites, blogs, and startups. I also help entrepreneurs with LinkedIn branding and optimizing their profiles. Thanks for reading!