The Benefits of Business Analytics
- McKinsey reports observing a shortage of an estimated 1.5 million business analysts in the world, which proposes higher salaries for qualified candidates
- The MSC in Business Analytics and other Business Analytics Programme allows people to work in a wide range of industries from the entertainment sector to the banking section
- The 2019 Betimes survey predicated that vacancies for business analysts will increase by 20% to 28% for both entry-level and senior business analysts
What Is Business Analytics?
Students can enroll in a Business Analytics and MSC in Business Analytics Programme in a university in the UK. MSc stands for Master of Science, and it’s a postgraduate programme that several universities across the world offer students.
Business analytics involves students answering questions such as what would the outcome of a certain trend would be and the reason why certain situations take place. The programme also teaches students various statistical techniques and methods that they can use to make valuable predictions for operating a business and making informed decisions regarding it.
Business Analytics Intakes and Fee Structure
Most UK universities offer a one-year, full-time business analytics programme costing around £19,000 to £21,000 on average. International students can also choose a two-year, part-time programme or a two-year, full-time programme with job placement.
What Does Business Analytics Entail?
Business Analytics prepare students to progress in their chosen career as a business analyst and develop and hone the ability to make critical business decisions about data and information in a confident manner.
Most programmes focus on two crucial areas of study. They include analysing business data and utilising data to resolve a wide range of challenges that businesses most often encounter. Through the programme, students will receive an incredible opportunity to utilise Artificial Intelligence (AI), applying it to several different areas. The programme will prepare them for senior management positions within the world’s digital economy.
Students are advised to consider universities in the UK according to the type of degree programme they want to study.
The Difference between Business Analytics and Business Intelligence
It is common for most people to confuse business analytics with business intelligence. Business intelligence collects data, whereas business analytics uses the collected data. Business intelligence allows you to understand the circumstances affecting the business currently and answers the “what.”
Business analytics explains the “why.” It connects the business’s technical side with its decision-making and managerial side. Some universities in the UK may offer an MSc in Business Intelligence separately, whereas others may offer a combined version of the two.
When Should You Consider Taking Business Analytics?
You should consider a career in business analytics because you enjoy working with numbers and data. You have the expertise, understanding, and patience to look through a lot of pure data and using it to decide what the next move for a business should be.
Business analytics uses data to identify patterns and then apply them to the business. If you can identify patterns from the given data and information, you’ll enjoy furthering your understanding of business analytics.
You’ll also find yourself leading several people as a business analyst, as they’ll visit you for guidance and insight to help them make important business decisions. They can include collaborating with another company, developing new products, and increasing their bottom line.
If you enjoy working with computers and are a quick learner in terms of learning how to use different programmes to analyse data, you should consider enrolling in a university in the UK to further your understanding of business analytics.
UK Universities for MSc in Business Analytics
Here are three UK universities that offer MSC in Business Analytics and Business Analytics Programmes:
1. University of Surrey
The University of Surrey is ranked in the list of the top ten universities in the UK for its business and economics programmes by the Times Higher Education World University Rankings 2020. Students can choose from a full-time, one-year programme with or without job placement or a two-year, part-time programme with or without job placement. A full-time programme with job placement lasts for 15 months.
Through the programme, students will receive the opportunity to interact with inspiring and knowledgeable industry experts both in and out of a classroom setting. The instructors will present students with modern business problems that several businesses around the world are currently experiencing.
They will also discover virtual reality, explore visualizations from graphs, and gain insights from machine learning and data mining. They will receive hands-on experience using a large variety of tools such as the SPSS and Stata for statistical analysis, SIMIO and Simul8 for virtual reality animations and event simulations, SAP for enterprise resource planning, and more.
2. Coventry University
Coventry University offers a one-year, full-time or a part-time, two-year programme. The programme presents students with large data sets and provides them with the tools to generate value from it, which they can’t analyze using conventional methods and techniques.
The programme is divided into three semesters. The first two semesters focus on providing students with an increased understanding of business analytics and an overview of the most commonly used tools. The final semester allows students to choose an internship with a company or perform a research-based project on a topic of their choice.
The final semester also teaches students an accredited module called the Global Professional Development and Consultancy, and upon successful completion, they’ll receive a certificate and award.
3. University of Essex
University of Essex offers a full-time, one-year programme and a part-time, two-year programme. The programme teaches students to predict market trends and enhance business processes while empowering people to make calculated decisions to improve performance in a wide range of areas such as operations, marketing, product development, supply chain management, and sales.
Through the programme, students will learn how to develop their analytical skills and use them to resolve complex problems. The programme will train them to arrange, incorporate, and understand information and data to make informed predictions regarding all areas of business operation and incorporate correct actions. Some of the topics the programme covers include global supply networks, business management, economic theory, and more.
These are just three out of the many universities in the UK to offer an MSc in Business Analytics Programme. You can consider them as well as other universities in the UK. Once you have decided, you can visit us, and we’ll help you with the application process.