Why Are Degrees in Business Analytics So Popular?

Sponsored by The University of Hong Kong – Faculty of Business and Economics

Whether you’re a tech giant or a fresh startup, you’re going to need experienced and professional business analysts who know how to put all the data generated by a modern business to good use.

But how does this answer the question of why degrees in business analytics are booming? We spoke to Dr Wang, Program Director of the MSc in Business Analytics at The University of Hong Kong – Faculty of Business and Economics to find out.

Ideal for those who want to put their analytical mindset to good use in real-life business settings

If you’re interested in the theories and methods that drive the analysis of large amounts of data to help improve a business’s operations, then you’re in the right place.

The HKU Master of Science in Business Analytics program makes it an exciting time to get involved with business analytics. Students will have access to a curriculum that covers a wide range of business expertise, including statistics, simulation, marketing and finance, business intelligence and analytics, applications in forecasting, decision models as well as programming language like Python and R.

Not everyone who studies business analytics comes from a business background

With PWC predicting businesses will begin to look for prospective candidates who can demonstrate both business and analytical skillsets, an increasing number of graduate students from engineering, science, mathematics, humanities, law and even medical backgrounds are looking to study business analytics. 

A few weeks before classes commence at The University of Hong Kong, MSc in Business Analytics students have the opportunity to enroll in a Boot Camp program which aims to bring all students up to a similar level of understanding in mathematics, programming and statistics in relation to business analytics.

Big data is a goldmine for all business and industries

Business analytics prepares businesses for any changes – and not just ways to better their strategies, operations and processes. When done well, business analytics helps businesses to identify potential risks and how you can best prepare for any unexpected changes. This forecasting ability is critical should a business want to stay ahead of the game in what is becoming a very competitive global marketplace.

You’ll have the chance to get an insight into what a real business analytics job is like

Experiential learning experiences help you to not only see and learn where business analytics is helpful for big decisions, but also for improving day-to-day tasks and procedures.

It’s important to connect with real-world business and see where theory applies in particular situations and circumstances – which is why group projects, internships, field trips and other experiential learning opportunities are so valuable in today’s degree curriculum.

“Students conclude their one-year program with a real-world business analytics project, working in teams to solve business challenges faced by reputable corporations in Hong Kong and Mainland China,” said Dr Wang.

Lucrative job opportunities at your fingertips

There’s no denying how much the business landscape has changed since the turn of the 21^st century. Social media didn’t even exist 20 years ago, and the likes of artificial intelligence and machine learning were just a sci-fi invention.

Over the last two decades we’ve seen huge business transformations which have resulted in severe shortages of people with the expertise and talent for both business and analytics. There are still gaps in our understanding of business analytics, and businesses need to get on top of this in order to be successful.

“Job and salary offers differ for candidates with different experience levels. Those without any prior work experience can expect to land jobs as business analysts, business consultants, social media analysts, market researchers, and decision analysts, after graduation,” explained Dr Wang.

“Those with several years of work experience, can apply for higher-paying roles such as business analytics managers or directors, market intelligence managers and senior consultants.”