Whether you're considering a Master's in Business Analytics for a career change or just to up your game in your current field, data analysis demands will increase in the future. That includes surging rates of job growth and starting pay that, more often than not, begins near a six-figure salary.  

As a data journalist and marketing analyst, I'll admit that math isn't my strength. My drive comes from finding answers, which sometimes can only be discovered in a batch of data. I bring this up because business analytics isn’t about excelling at calculus; it’s more about recognizing patterns and using data with context to tell helpful stories that drive decisions.

What Is a Master's of Business Analytics?

The degree is relatively new, first being offered in the early 2010s but also replacing some programs in the 2020s, as reported by the Graduate Management Admission Council.

Simply put, a Master's Degree in Business Analytics focuses on teaching people to use data in decision-making. That could include understanding patterns, spotting or predicting trends, and providing critical insights to fuel business decisions. 

The degree also combines technical skillsets with powerful communication techniques backed by authoritative leadership and a creative spin to keep people engaged while you're explaining data. 

Think of it as turning raw data into defined and measurable goals to help companies innovate, improve, and outperform the competition. 

Who Should Consider a Master's in Business Analytics?

One selling point of business analytics comes with the fact that just about everything we do comes from data analysis. You found this article likely because an analyst created an algorithm catered to your needs. 

Whether it's where your grocery items are placed on a shelf, which gas station you frequent, or which restaurant you select for date night, someone behind the scenes analyzes information to cater to your evolving needs. 

Therein lies the beauty of a Master's Degree in Business Analytics; every industry needs them. Anyone in any industry could consider a career path in business analytics.

Business Analytics Degree Benefits for Career Growth

My favorite t-shirt reads "Says Who?" It's based on my demand when presented with any information that I want to know the source. Those with analytical minds thrive in various industries because they don't just take things at face value. They want to dig into the details that support or disprove a claim. 

For example, if the Dairy Association releases a study claiming milk and eggs are the best foods for energy and anti-aging, it seems a little too convenient. Quick-thinking and interpretive minds are needed to help companies avoid getting duped by rhetoric disguised as neutral data.

As companies increasingly depend on accurate and quantifiable data, those who can help optimize experiences backed by trends and numbers will be positioned to rise through the ranks. 

“Just being able to solve those business problems is not enough; you have to translate that to an audience. Business communication and leadership skills are important to actually make a difference in business analytics.” - Willem-Jan van Hoeve, Senior Associate Dean of Education at Tepper School of Business at Carnegie Mellon

Plus, a growing number of analytical tools take the hard math out of the equation, giving more time for analysts to identify anomalies and consistencies while heaping on a dose of context. This also allows creative minds to focus more when the data points of a target audience or storytelling medium are clear.

Finally, even the most intelligent analytical program still needs humans to interpret and present. 

Is a Master’s in Business Analytics Worth It?

Absolutely. A Master's degree in Business Analytics is worth it today and at least the next decade, and we have the data to back that up.

The average job growth between 2023 and 2033 is 5%, according to the Bureau of Labor Statistics. Taking a closer look at the data occupations expected to have exponential growth before 2033 include:

  • Data Scientists: 36% growth
  • Statisticians: 33% growth
  • Logisticians: 29% growth
  • Operations Research Analysts: 23% growth
  • Marketing Analysts: 19% growth

Brace yourself for another business analytics degree benefit. All five of those categories require no work experience with an average wage of $87,000 a year.

How a Master's in Business Analytics Prepares You for the Future

We stand at the frontier of machine-learning AI mixing into our lives, from professional standpoints and even down to ads we see on social media. Imagine if you had the wherewithal to see that mobile phone apps were the wave of the future in 2008. You could've gotten ahead of the boom. 

In the same spirit, we see AI creating an undeniable new playing field. On the other hand, there's the risk that machine learning could render some jobs of the early 2020s useless, making it even more important to learn about interpreting and presenting data. 

  1. "Says Who?" BLS employment projections released in late August 2024 make three powerful points.
  2. "The growth of computer and mathematical occupations is expected to stem from... increasing amount of data available for analysis."
  3. "Advances in technology are expected to limit demand for sales workers... (and) contribute to the decline in employment of office and administrative workers." 

The only industry with a better job outlook through 2033 is healthcare support, and that's mostly due to the Baby Boomer aging population, which will create an increased (but not in perpetuity) demand.

Before more people jump on the business analytics bandwagon, get in the game. 

Take the Next Step in Your Career

There's power in information, especially when you understand the context and conditions under which that data was gathered. Some of the key takeaways when considering a Master's in Business Analytics include:

  1. In Demand: Business analytics jobs are among the highest-demand occupations projections through 2033, according to BLS.
  2. Versatile: You don't need to start over to switch careers into business analytics since every industry uses data to power decisions and gain the upper hand over competitors. 
  3. Value: While the cost of a master's degree can be a deterrent, we know the salary for data analysts generally starts around $65,000 a year and has the potential to go into the six figures within a few years.  

To help get you started, check out the Appily Advance career quizzes to see what industry is right for you.