With modern technology, and especially with the rise of AI in the job market, employers and businesses alike rely on skilled and qualified professionals to collect, store, and analyze data and information to improve their business models and revenues.
So, if you’re interested in working in a dynamic field while contributing to business leaders’ decisions, consider a Master’s in Data Analytics or a Master’s in Business Analytics.
But what is the difference between these two degrees? And how do students determine which degree is best for them? We’re glad you asked. Below, we’ll discuss the similarities and differences between a Master’s degree in Data Analytics vs. a Master’s in Business Analytics.
What is a Master’s degree in Data Analytics?
Data analytics requires candidates to examine data sets to find trends, make predictions, and make critical business and organizational decisions.
As such, a Master’s in Data Analytics teaches students how to use complex datasets to identify trends, share information, make decisions and recommendations, and predict outcomes.
These one-year programs also offer in-depth knowledge of information systems and modern analytics skills through rigorous classroom instruction, required projects, and a thesis or internship to demonstrate students’ research, analysis, and project work skills.
Every Master’s in Data Analytics program course requirements will vary a bit depending on the college or university. But at University of Bridgeport, for a general example, our students take the following Data Analytics MS courses:
- Behavioral Economics Aglor Financial
- Data-Driven Marketing
- Foundations in Advanced Enterprise Analytics
- Global Program and Project Management
- Introduction to Business Analytics
- Knowledge Management and Business Intelligence
- Strategic Sourcing and Vendor Management
- Technical Concepts for Analytics Professionals
What is a Master’s degree in Business Analytics?
Business analytics is focused on analyzing various types of information to make practical, data-driven business decisions, and implementing changes based on those decisions. It also utilizes historical data to develop mathematical models that help companies or organizations solve problems and improve efficiency.
Like Data Analytics degrees, Business Analytics degrees are great for those who love math, are good at identifying patterns, and enjoy working closely with co-workers and supervisors.
Common courses found in these programs are:
- Business Analytics and Statistics
- Business Economics for Decision-Making
- Leading and Managing Teams
Learn more about where theory and practice come together for student success. Visit the Ernest C. Trefz School of Business today!
What can you do with a Master’s degree in Data Analytics?
A career in data analytics will often involve positions and roles in data management, data science, and machine learning.
Graduates of Data Analytics MS programs, like ours at University of Bridgeport, go on to many exciting careers with personally and financially rewarding roles and salaries, including:
- Computer systems analysts audit existing computer systems to identify what they could be doing better, as well as build new systems and use the latest technologies to directly address companies’ needs. According to the Bureau of Labor Statistics (BLS), the median annual wage for computer system analysts is $103,800.
- Data scientists are responsible for extracting and organizing data through studies and experiments. They also analyze and use that data to develop and test software, models, applications, and even prototypes and products. Then, they use their findings to help companies make the best data-based decisions. Data scientists make a median annual salary of $108.020.
- Information security analysts work to create security measures to protect those systems and all the data they contain. They monitor threats, investigate system breaches, address security incidents, and restore secure operations once issues have been solved. The median annual salary for information security analysts is $120,360.
What can you do with a Master’s degree in Business Analytics?
Business Analytics degrees, like Master’s in Data Analytics degrees, are highly skilled and versatile, leading to a variety of career paths. Graduates with a Business Analytics degree can pursue roles as:
- Market research analysts study consumer preferences, business conditions, and other factors to assess potential product or service sales. They help companies understand what products people want, who will buy them, and at what price. These professionals earn a median annual salary of $74,680.
- Operations managers oversee the management of quality assurance programs, hiring and training new employees, monitoring and analyzing internal processes for their level of effectiveness, and creating strategies to improve productivity. These individuals earn a median annual salary of $100,780.
Data analytics vs. business analytics: which one is right for me?
Data analytics and business analysts both work with data. However, the difference lies in what these individuals do with that data. If you are interested in helping organizations make more effective business decisions and achieve a means to an end, then a Master’s degree in Business Analytics is right for you.
A Master’s degree in Data Analytics is better suited for candidates interested in the data itself. More specifically, this degree is for candidates passionate about gathering and analyzing that data to help businesses evaluate and use it to make decisions independently.
Consider your interests and career goals, and don’t hesitate to contact admissions counselors to discuss your options to find the degree that is best for you.
UB graduates go on to exciting careers in almost every industry and business, including hedge funds, technology firms, insurance companies, credit bureaus, and more.