In our latest article, we examine our new MSc Business and Management (Business Analytics) programme and the important role analytics is playing in the operations of businesses in the 21st century.
Data plays an integral role in all aspects of business – from marketing and sales to product development, customer service and beyond. As the amount of available data continues to grow the ability to use this to create insightful analysis, for use in decision making holds the key to business success. This course prepares you for the world of business in the 21st century, establishing a firm understanding of critical issues in business.
Here with an overview of what you should expect from the course is our Business Curriculum Manager, Roisin Manning:
How did you first get into business?
I first became involved in the world of business following my graduation from the University of Cambridge. I decided I wanted to gain different commercial experiences and this led me to embark on a varied business career. This included designing training courses and conducting marketing intelligence for pharmaceuticals and recruitment all before joining the University of Essex Online.
One of the things I have found most enjoyable about my career is the fast-paced environments in which I have found myself, working on honing new skills and contributing to business success.
Can you define what business analytics is?
Business analytics relates to the ever-increasing amounts of data being generated and gathered by businesses and the need to sort, store and understand how this can be used in order to carry out informed decision making.
What is the impact of data on the world of business?
An article published by Forbes in 2018, estimated that 90% of all the world’s data was created in the last two years! A trend expected to grow at an exponential rate, forcing businesses to develop robust ways of harnessing the power within their data or face becoming obsolete.
This has led to new ethical and regulatory concerns about who owns what data and how it should be used and stored. It is also playing a crucial role in new emerging technologies such as AI and augmented analytics, the impact of which is already being felt across the globe.
We have a new course – tell us about it!
Our new MSc Business and Management (Business Analytics) is an exciting new qualification providing students with a thorough understanding of analytics and its relevance when analysing important threats and opportunities.
This programme covers all you need to know, including core skills such as data management, data analytics for managers and statistics. It represents the perfect qualification for someone looking to bring a solid grounding in data analysis to their career whether as a manager, business owner or within a data specific role such as a data officer.
What are some of the most important areas covered during the course?
One of the core modules covered is data visualisation, helping you to develop the craft of visualising and interpretation data. It teaches you how to recognise when to think, what to think, and how to think about visualisation decisions. This is a highly desirable and valuable skill set which will be developed through exposure to industry-leading software such as Tableau and R.
How is this business qualification different to others like it?
This specialist Masters degree is designed to help increase your confidence when working with data while developing your managerial skills at the same time. The course covers a combination of innovative business analytics content and business and management topics.
This enables you to develop a firm understanding of critical issues within business and management; while simultaneously developing your expertise within the field of business analytics.
What careers can this qualification help students pursue?
The realisation that data is important to business isn’t a new one; in fact, the Harvard Business Review declared data science ‘the sexiest job of the 21st century!’ There are however a number of emerging vacancies not just limited to highly technical roles within this area. This includes positions in business intelligence and data analysis, both of which are under-resourced. Demand is expected to keep growing.
What is the benefit of studying this course online as opposed to on campus?
It is a major time commitment to take a year out to pursue a full-time Masters. We understand that many of our students have extremely busy working and, quite often, personal lives and are interested in this qualification to augment their skill set and to improve future career prospects. That’s why we offer this programme 100% online as it offers flexibility with any other commitments.
How important will this course, and business analytics in general, be in the future?
Essential! There is an ever-growing demand for educated leaders in the field of analytics. This is being driven by both the business community and consumers alike, with the need for high-quality personalised data solutions, which maintain privacy and security, consistently growing.
Data and analytics are possibly the most pressing and interesting trend of the 21st century and quite possibly will be for a long time to come! The sector holds untold opportunities and challenges on a global scale. A reputable qualification such as our MSc Business and Management (Business Analytics) would be a great first step towards a successful career in this flourishing industry.