The degree in Business Analytics is designed to prepare students for a career in business analytics by developing their business knowledge, their technical skills and their communication skills.
Business analytics involves the use of data analysis and computer models to make better business decisions. Organizations use business analytics to answer strategic questions such as (1) which products and services that we provide are most profitable (2) who are our most profitable customers and (3) where should we locate our retail outlets and our distribution centers. Business analytics are also used for tactical decisions in optimizing an organization’s day-to-day operations, marketing, purchasing and pricing decisions.
Banks, credit card companies and insurance companies use business analytics to predict the profitability of potential customers and to offer better deals to the more profitable customers. Online vendors use business analytics to make recommendations to customers. Manufacturers use business analytics to optimize the location of their distribution centers and to optimally manage the movement of products through their supply chain. Retailers use business analytics to grow their revenues through customer loyalty programs. Sports teams have used business analytics to gain a competitive advantage in selecting players and in making tactical decisions on the field.
Business analytics is transforming the way traditional businesses make decisions. It is also the critical element in an entire industry of internet companies that provides services, search capabilities and social networking. These companies use business analytics to glean marketable insights from the massive amounts of data that they collect from their users.
The Business Analytics program also provides students the background to gain industry certifications in commercial software for data analysis and tools used for optimizing online sales and advertising. This further enhances students’ job opportunities.
Students who major in Business Analytics need quantitative skills, interpersonal skills, an interest in business and a desire to be a pioneer in a rapidly growing new field.
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