What Can You Do with a Master’s in Business Analytics? 7 Jobs to Consider

Today, we truly live in the era of big data. Every day, people generate approximately 402 million terabytes of information. To put that into perspective, that's equivalent to more than 80 billion high-definition DVDs. 

As a result, there is unprecedented demand for business and data analytics professionals who can interpret, analyze, and extract valuable business insights from this vast amount of information.

Interested in a career in analytics? Earning a Master of Science in Business Analytics is an excellent way to gain the expertise needed to succeed in this rapidly growing and indispensable field.

Organizations across nearly every industry are relying on data to make smarter decisions, improve efficiency, and stay competitive in an increasingly digital world. As a result, the demand for professionals who can analyze data, identify trends, and translate insights into business strategy continues to grow.

Here are two key reasons why business analytics professionals are in such high demand:

1. The Rising Importance of Business Analytics
2. Analytics Talent Shortages

Business analytics is essential for companies because it helps uncover actionable insights and information from large amounts of data. These findings allow business leaders to learn from the past, predict future outcomes, streamline operations, and make more informed decisions to drive growth.

A recent study found that companies prioritizing analytics and objective metrics in decision-making are generally more successful than those that rely on intuition.

Business leaders worldwide recognize the importance of analytics and are investing in data infrastructure and AI technologies to maintain their competitive edge. According to Grand View Research, the global data analytics market is valued at $108 billion and projected to reach $700 billion by 2033.

Despite substantial investments in big data technologies and infrastructure, organizations still face a shortage of qualified professionals to fill the increasing number of roles in business and data analytics. This talent gap is becoming a critical issue for organizations worldwide. 

A recent report shows that 70% of global enterprises face significant labor and skills shortages in advanced analytics and predictive modeling, with a projected 30-40% shortfall in analytics talent by 2027. 

As businesses continue to invest in big data, the demand for business analytics experts will keep rising. If you’re interested in a career in analytics, now is an excellent time to pursue your education and work towards a rewarding career in business analytics. 

Roles in business analytics are among the fastest-growing jobs in the United States. According to the U.S. Bureau of Labor Statistics (BLS), the role of data scientist is projected to be one of the top five fastest-growing occupations from 2024 to 2034, with a massive growth rate of 34%.

Job titles and responsibilities in the analytics field vary across organizations. Depending on a company’s size, the analytics team may be large or small, which can affect the duties of each role. 

Let’s look at seven of the most in-demand careers in data and business analytics, including:

1. Data Analyst
2. Business Analyst 
3. Business Intelligence (BI) Analyst
4. Data Scientist
5. Operations Research Analyst
6. Marketing Analyst
7. Financial Analyst

Data analysts gather, clean, and analyze data to identify trends and patterns that can inform strategic decisions. Data analysts may also create visualizations and dashboards to communicate data clearly to organizational leaders. Although less involved in strategic decision-making, the data analyst role is highly technical and requires skills in statistical and data analysis, data mining and modeling, and database management, as well as programming tools like R, SAS, and SQL.

According to Glassdoor, data analysts in the United States earn an average salary of $93K per year.

Compared to data analysts, business analysts generally spend less time on the technical aspects of data analysis and focus more on business strategy. They evaluate organizational performance and work to improve a company’s day-to-day operations, systems, and services. Business analysts often work in consulting roles and must excel at storytelling, clearly communicating business outcomes and strategies to stakeholders and business teams. 

The median national salary of a business analyst is $107K per year.

Many companies use the titles Business Intelligence Analyst and Data Analyst interchangeably, and these roles may sometimes overlap. Generally, BI Analysts are more technically skilled in data analysis than Business Analysts, are proficient in SQL, and work with business intelligence tools, like Tableau. While data analysts focus on analyzing complex datasets, BI Analysts spend more time turning this data into actionable business strategies.

The average salary for a Business Intelligence Analyst is $117K per year. 

Data scientists typically hold seniority over data analysts and are more technically skilled in data engineering and programming languages like Python. In addition to interpreting datasets, they design and build statistical models, machine learning algorithms, and Artificial Intelligence (AI) applications to predict business outcomes and solve organizational problems. 

The average annual pay for a data scientist is $157K per year. 

Operations Research Analysts work in various industries to improve processes and cut costs. After identifying a problem, they collect data and use analytical techniques and software to simulate changes that might yield a solution. They weigh the pros and cons of each option and report solutions to leadership. They often work in supply chain logistics, finance, banking, and management.

The median salary for an Operations Research Analyst is $133K per year. 

Marketing analysts analyze a variety of data such as sales figures, market trends, consumer behavior, and campaign performance to help companies make informed, data driven decisions about their marketing and advertising strategies. By interpreting and presenting this information to clients and team members, marketing analysts help organizations develop more effective campaigns, grow their customer base, and identify new opportunities for growth. 

The median salary for a marketing analyst is $94K per year.

Financial analysts work in investment firms, banks, insurance companies, and other financial institutions. Whether on the buy side or sell side, analysts evaluate economic trends and financial data, monitor investment performance, and provide recommendations. Using financial modeling, they also develop projections and presentations for stakeholders and executives, identifying opportunities for growth and potential risks.

The average salary for a Financial Analyst is $107K per year. 

The demand for data and business analytics experts spans nearly every industry. According to the International Institute of Business Analysis (IIBA), finance is the top field, hiring 24% of professionals. Other industries that frequently hire new graduates include:

• Technology and SaaS
• Healthcare and Pharmaceuticals 
• Retail and E-Commerce
• Manufacturing and Supply Chain
• Marketing and Advertising
• Government and Nonprofit

The evidence is clear: graduates of master’s programs in business analytics can expect higher-than-average job security, competitive salaries, low unemployment, flexible work-from-home options, and numerous opportunities for advancement in a rapidly growing field.

However, only you can determine whether a career path in business analytics is the best choice for you and your future by reflecting on your strengths, interests, long-term career plans, and lifestyle goals. 

The University of Cincinnati’s fully online Master of Science (MS) in Business Analytics program is consistently ranked among the top data science programs in the country, including No. 3 in Fortune’s Best Online Master’s in Business Analytics rankings. 

Students in our program learn from faculty at the Carl H. Lindner College of Business—experts at the cutting edge of business analytics and AI. Our coursework focuses on solving real world problems, so you’ll be ready to hit the ground running as soon as you graduate.

And it works: Our MS in Business Analytics graduates are hired by top industry employers such as Google, Disney, and Amazon.

Best of all, our program is 100% online and can be completed at your own pace, in as little as one year. Core courses in the program include:

• Data Mining
• Data Visualizations
• Data Wrangling
• Optimization

Students can also take electives in areas like machine learning, full-stack development, artificial intelligence in business, supply chain strategy, governance, and more—preparing graduates to solve complex challenges and drive innovation in numerous industries.

Do you have questions about our MS in Business Analytics program or want to explore more online business programs? 

Our talented Enrollment Services Advisors are here to provide personalized guidance and help you start your online learning journey today.

Reach out today to get started!