Master Of Science In Business Analytics

A Master of Science in Business Analytics (MSBA) is an interdisciplinary STEM graduate

professional degree A professional degree, formerly known in the US as a first professional degree, is a degree that prepares someone to work in a particular profession, practice, or industry sector often meeting the academic requirements for licensure or accreditatio ...

that blends concepts from

data science Data science is an interdisciplinary field that uses scientific methods, processes, algorithms and systems to extract or extrapolate knowledge and insights from noisy, structured and unstructured data, and apply knowledge from data across a br ...

computer science Computer science is the study of computation, automation, and information. Computer science spans theoretical disciplines (such as algorithms, theory of computation, information theory, and automation) to Applied science, practical discipli ...

statistics Statistics (from German language, German: ''wikt:Statistik#German, Statistik'', "description of a State (polity), state, a country") is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of ...

business intelligence Business intelligence (BI) comprises the strategies and technologies used by enterprises for the data analysis and management of business information. Common functions of business intelligence technologies include reporting, online analytical pr ...

, and

information theory Information theory is the scientific study of the quantification (science), quantification, computer data storage, storage, and telecommunication, communication of information. The field was originally established by the works of Harry Nyquist a ...

geared towards commercial applications. Students generally come from a variety of backgrounds including computer science, engineering, mathematics, economics, and business. University programs mandate coding proficiency in at least one language. The languages most commonly used include R,

Python Python may refer to: Snakes * Pythonidae, a family of nonvenomous snakes found in Africa, Asia, and Australia ** ''Python'' (genus), a genus of Pythonidae found in Africa and Asia * Python (mythology), a mythical serpent Computing * Python (pro ...

, SAS, and SQL. Applicants generally have technical proficiency before starting the program. Analytics concentrations in

MBA A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...

programs are less technical and focus on developing working knowledge of statistical applications rather than proficiency.

Business analytics Business analytics (BA) refers to the skills, technologies, and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing ne ...

(BA) refers to the skills, technologies, practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning.^{/sup> Business analytics focuses on developing new insights and understanding of business performance based on data

In the pursuit of knowledge, data (; ) is a collection of discrete values that convey information, describing quantity, quality, fact, statistics, other basic units of meaning, or simply sequences of symbols that may be further interpreted ...
and statistical methods

Statistics (from German: ''Statistik'', "description of a state, a country") is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data. In applying statistics to a scientific, industria ...
. In contrast, business intelligence

Business intelligence (BI) comprises the strategies and technologies used by enterprises for the data analysis and management of business information. Common functions of business intelligence technologies include reporting, online analytical pr ...
traditionally focuses on using a consistent set of metrics to both measure past performance and guide business planning, which is also based on data and statistical methods. Business analytics can be used to leverage prescriptive analytics

Prescriptive analytics is a form of business analytics which suggests decision options for how to take advantage of a future opportunity or mitigate a future risk, and shows the implication of each decision option. It enables an enterprise to cons ...
towards automation.

Origin

The MSBA was a response to the increasing need of complex data analysis beyond traditional use of spreadsheets such as Microsoft Excel. Since 2001, the increasing volume

Volume is a measure of occupied three-dimensional space. It is often quantified numerically using SI derived units (such as the cubic metre and litre) or by various imperial or US customary units (such as the gallon, quart, cubic inch). Th ...
(amount of data), velocity

Velocity is the directional speed of an object in motion as an indication of its rate of change in position as observed from a particular frame of reference and as measured by a particular standard of time (e.g. northbound). Velocity is a ...
(speed of data in and out), and variety (range of data types and sources) has created a vacuum for talent. Harvard Business Review

''Harvard Business Review'' (''HBR'') is a general management magazine published by Harvard Business Publishing, a wholly owned subsidiary of Harvard University. ''HBR'' is published six times a year and is headquartered in Brighton, Ma ...
noted: “Much of the current enthusiasm for big data

Though used sometimes loosely partly because of a lack of formal definition, the interpretation that seems to best describe Big data is the one associated with large body of information that we could not comprehend when used only in smaller am ...
focuses on technologies that make taming it possible, including Hadoop

Apache Hadoop () is a collection of open-source software utilities that facilitates using a network of many computers to solve problems involving massive amounts of data and computation. It provides a software framework for distributed storage an ...
(the most widely used framework for distributed file system processing) and related open-source tools, cloud computing

Cloud computing is the on-demand availability of computer system resources, especially data storage ( cloud storage) and computing power, without direct active management by the user. Large clouds often have functions distributed over mul ...
, and data visualization

Data and information visualization (data viz or info viz) is an interdisciplinary field that deals with the graphic representation of data and information. It is a particularly efficient way of communicating when the data or information is num ...
,” the article says. “While those are important breakthroughs, at least as important are the people with the skill set (and the mind-set) to put them to good use. On this front, demand has raced ahead of supply. Indeed, the shortage of data scientists is becoming a serious constraint in some sectors.”

See also

* Big Data

Though used sometimes loosely partly because of a lack of formal definition, the interpretation that seems to best describe Big data is the one associated with large body of information that we could not comprehend when used only in smaller am ...

* Machine Learning

Machine learning (ML) is a field of inquiry devoted to understanding and building methods that 'learn', that is, methods that leverage data to improve performance on some set of tasks. It is seen as a part of artificial intelligence.

Machine ...

* Data Mining
* Predictive Analytics

Predictive analytics encompasses a variety of statistical techniques from data mining, predictive modeling, and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events.

In busine ...

* Decision Theory

Decision theory (or the theory of choice; not to be confused with choice theory) is a branch of applied probability theory concerned with the theory of making decisions based on assigning probabilities to various factors and assigning numerical ...

* ETL
* Data Management

Data management comprises all disciplines related to handling data as a valuable resource.
Concept

The concept of data management arose in the 1980s as technology moved from sequential processing (first punched cards, then magnetic tape) to r ...

* Data Warehouse

In computing, a data warehouse (DW or DWH), also known as an enterprise data warehouse (EDW), is a system used for Business reporting, reporting and data analysis and is considered a core component of business intelligence. DWs are central Repos ...

* Operations research

Operations research ( en-GB, operational research) (U.S. Air Force Specialty Code: Operations Analysis), often shortened to the initialism OR, is a discipline that deals with the development and application of analytical methods to improve deci ...

* Network science

Network science is an academic field which studies complex networks such as telecommunication networks, computer networks, biological networks, cognitive and semantic networks, and social networks, considering distinct elements or actors repre ...

* Agile

References

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