The Amount of Data That Companies Collect Gets

The Rady School‘s Professor Nijs states, “Companies are collecting more and more data but often lack the people to use it effectively.” He referenced a quote from a well-known report by the McKinsey Global Institute (2013): “Big data promises big things—but only if organizations have the right people in place who know what to do with it. A recurring theme among senior leadership across all sectors is a shortage of professionals trained and experienced at the intersection of disciplines necessary to capture, analyze, and generate meaningful business insights from big data. In addition to deep analytics talent, organizations need management with the right balance of business judgment and statistical skills to translate analysis into action.”

 

 

A Company’s Future Relies on Its Business Analytics

The need for effective, efficient business analytics is stronger than ever.  Businesses need to know what they want to learn from business analytics—and then how they’re going to use that data to inform their decisions across the board.

Businesses need to be able to determine what data they need and then identify the data sources for gleaning that information.  The final piece?  Distilling that information into actionable insights using the tools of business analytics. Once businesses have a plan for capturing the desired data, organizing it, and analyzing it, they are in a position to develop plans to stay competitive.

 

 

Business Analytics Has Excellent Job Prospects…

According to a McKinsey Global Report, the US alone has a shortage of about 190,000 data scientists and 1.5 million business analysts.  Globally and in the US, companies need experts in business analytics.  High demand means higher salaries, and a variety of options.  Graduates in Business Analytics work at large companies, start their own businesses, work in banks or FinTech, web-based businesses, retail and food companies, media companies, and marketing companies.

 

 

…Especially When You Study at a Forward-Thinking School Like Rady

The Rady School’s  new Master of Science in Business Analytics (MSBA) puts students at the forefront of the field. The program focuses on the problems big data poses to businesses—and how to solve them using models, statistics, and machine learning – in classes such as customer analytics, business intelligence, and supply chain analytics.  The school’s bottom line?  To graduate students who know how to use analytics to make a positive impact on business performance—and sustain it.

Professor Nijs says that “After graduation, our students should expect to work extensively with data, use statistics and machine learning, write code, and develop tools to enhance business decision-making.  After gaining some experience, we expect them to be well-suited to lead an analytics team.”