{"id":133,"date":"2021-07-21T14:32:12","date_gmt":"2021-07-21T18:32:12","guid":{"rendered":"https:\/\/bptd8dev.bridgeport.edu\/news\/?p=133"},"modified":"2025-01-06T15:26:48","modified_gmt":"2025-01-06T20:26:48","slug":"what-is-business-analytics","status":"publish","type":"post","link":"https:\/\/www.bridgeport.edu\/news\/what-is-business-analytics\/","title":{"rendered":"What is Business Analytics, and Is This Field Right for You?"},"content":{"rendered":"

Business is consistently among the\u00a0most popular college majors<\/a>\u00a0that students pursue, outpacing health professions, social sciences, and psychology. There are many reasons for this. Some students are drawn to business because their\u00a0earning potential<\/a>\u00a0after graduation is roughly $30,000 more than other majors. Others are interested in pursuing a business degree because they want to understand the inner workings of the business world, the data that drives business decisions, and play a part in helping companies grow. These students may consider pursuing a degree in Business Analytics and Intelligence over a general Business Administration degree. But what exactly\u00a0is<\/em>\u00a0Business Analytics?<\/p>\n

What is Business Analytics?<\/strong><\/p>\n

Out of all business school graduates, those with a degree in Business Analytics are in particular demand, simply because the field is highly specialized. Business Analytics is the science of using historical data to develop mathematical models that help companies or organizations make decisions for their future. Business Analytics enables data-driven decision-making by modeling outcomes using predictive analytics. Business Analytics is used in a variety of industries including medicine, technology, retail, and real estate. Companies have access to more data than ever, making Business Analytics professionals\u00a0highly sought after<\/a>.<\/p>\n

What do Business Analysts Do?<\/strong><\/p>\n

In very simple terms, business analysts collect data and analyze it. There are a few different kinds of business analytics. Descriptive analytics uses data to track and identify historic trends within a company or organization. Predictive analytics uses the data analyzed in descriptive analytics to identify likely outcomes or events. Prescriptive analytics is then used to help organizational leaders make decisions for their future. Most business analysts work primarily in descriptive and predictive analyses. However, their training does prepare them to work in prescriptive analytics as well.<\/p>\n

Signs You Should Consider a Career in Business Analytics<\/strong><\/p>\n

If you\u2019re intrigued by the prospect of working in Business Analytics but you\u2019re still not quite sure, here are a few signs that this field could be the perfect fit.<\/p>\n

You Love Math<\/em><\/p>\n

Though business analysts use modeling software to help them in their work, they must also be very good at math. Business Analytics degrees require students to\u00a0take classes<\/a>\u00a0in accounting, statistics, finance, algebra, and pre-calculus. Additionally, they\u2019ll be expected to take economics courses that will require math work. If you love numbers and are looking for a field that uses math to solve very real-world problems, Business Analytics is a great option to pursue.<\/p>\n

You are Good at Identifying Patterns<\/em><\/p>\n

At the heart of Business Analytics is the identification of patterns. Business Analysts should be able to collect data and recognize patterns found therein. If you find that you\u2019re naturally able to solve puzzles quickly and enjoy identifying patterns, you should think about earning a degree in Business Analytics.<\/p>\n

You Enjoy Working in a Team<\/em><\/p>\n

Business analysts work closely with their co-workers and supervisors to help improve their company\u2019s growth and output. If you enjoy working within a team to solve problems, this may prove to be a good career for you.<\/p>\n

Careers in Business Analytics<\/strong><\/p>\n

Graduates with a\u00a0Business Analytics degree<\/a>\u00a0are highly skilled and versatile. As such, there are a variety of career paths they can pursue. These are just a few of the diverse and interesting careers available to students who graduate with a Business Analytics degree.<\/p>\n

Data Analyst<\/em><\/p>\n

A\u00a0data analyst<\/a>\u00a0designs and maintains data systems and databases. They collect data and use statistical tools to interpret data, making note of patterns and trends. They then prepare reports for their leadership team that can help them make decisions about the future of their company. These positions are in high demand and pay well, with the average annual salary ranging from $60,000 to $138,000, depending on experience.<\/p>\n

Operations Manager<\/em><\/p>\n

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 create strategies to improve productivity. They use data points to help them fulfill these duties. On average,\u00a0operations managers<\/a>\u00a0can expect to earn $80,000 per year.<\/p>\n

Financial Analyst<\/em><\/p>\n

A financial analyst can work as investment advisors for individuals or for companies. They can use their skills to analyze the profitability of their company\u2019s competitors and to determine the likelihood of a merger being profitable. They interpret historical data to identify industry and economic trends, and to forecast future trends. They may also work to determine fair market values for company stocks. These positions can vary in salary. On average,\u00a0financial analysts<\/a>\u00a0can earn $79,624 per year.<\/p>\n

Business Analytics is challenging, rewarding, and for those interested in the data-driven side of business, the perfect field to explore. If you\u2019re on the fence, consider your own innate skills and interests. If you love math, technology, and working as part of a cohesive team, a career in Business Analytics might be well worth considering.<\/p>\n

Curious how 越南直播 can help you begin a career in business analytics?\u00a0<\/em>Learn more, here!<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Business Analytics is a highly-specialized field that can lead to many high-paying careers. Learn about Business Analytics and whether it\u2019s right for you. 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