Careers you can work in with a business analytics degree

Sponsored by ESMT Berlin 

Business analytics is a powerful set of tools that has become an integral part of many companies’ decision-making processes to boost efficiency and inform business strategies.  

Most organisations, from Fortune 100 companies to non-profits and government organisations, have become heavily reliant on big data. Even small enterprises have access to a broad range of information about user experience, web traffic or client satisfaction that can be used to their benefit.  

From tweaking the business model to adapting the marketing strategy and increasing customer satisfaction, data can be leveraged in a number of ways to give companies a competitive advantage. 

Today, big data has a huge impact on every aspect of industry and society. Data is becoming a form of currency for businesses and professionals with analytics skills are in high demand across a wide range of industries, from healthcare to finance and technology.  

New opportunities for graduates with business analytics skills  

To prepare students for today's rapidly changing job market, many business schools are developing master's programs in business analytics designed to teach everything professionals need to crunch and analyse data with the managerial vision required to create business value. These degrees can open doors for graduates across industries and markets, particularly in light of the widening talent gap created by the new challenges presented by big data.  

According to the World Economic Forum, technology is creating many new career opportunities, but due to the business analytics skills gap it might be difficult to fill those roles.  

The ESMT Berlin Master in Analytics and Artificial Intelligence was created to meet this growing demand for skilled professionals at the intersection of analytics and management. In the two-year program, you’ll learn to leverage your quantitative skills and merge them with the managerial skills required to make data-driven decisions.  

During your studies, you’ll have the opportunity to take these new skills learned in the classroom and apply them to practical challenges, such as the Analytics Student Consulting Project delivered to a corporate partner or the Portfolio Management Program. Here, selected students actively manage a real-money portfolio of €1 million (~890,000) and develop real trading strategies on the open market. 

Whether you end up with a career in business analytics or not, a business analytics degree can give you the skills and credentials you will need for a number of senior managerial roles in corporations or start-ups, like fact-based decision making, quantitative analysis or predictive analysis - skills which we know will be vital for many jobs of the future. 

In fact, according to a report by the World Economic Forum, complex problem-solving, critical thinking, judgment and decision making will become three of the top skills we need in future job roles regardless of the industry. 

High-paying jobs with a business analytics degree 

Although the most obvious choice for a graduate in business analytics would be to work as a data scientist or a management analyst, there is a range of careers available for a professional who is capable of dealing with big data and translating it to business solutions.  

A business analytics graduate would typically be collecting and interpreting big data through quantitative analysis in order to predict, evaluate and inform decisions in a number of business areas, including human resources, customer service, marketing, operations and finance. 

According to the US Bureau of Labor Statistics, 108,400 new management analyst jobs will be created between 2021 and 2031. Management analysts will have an estimated job growth of 11 percent until 2031. 

According to the US Bureau of Labor Statistics, these jobs typically come with high job growth and pay. For example, logisticians, a job which involves analysing and coordinating a company's supply chain from supplier to consumer, made median salaries of US$77,030 (~£64,000) in 2021. They have a fast job outlook, with an employment growth of 28 percent until 2031. 

Another potential career path is working as a market research analyst. It involves studying market conditions to gain insights into consumer behaviour and preferences. A market researcher will work designing surveys, conducting interviews, analysing data using statistical software, and presenting findings to clients. These professionals can work in a variety of industries, including advertising, consulting, and market research firms. Market research is expected to have an employment growth of 19 percent until 2031.  

Overall, learning business analytics is a smart investment for students as it can lead to a range of career opportunities, provide a competitive advantage, and help develop important skills that are valuable in any job role.