The volume of data collected and stored grows at a pace that is hard to conceptualize. In 2020, at the beginning of the COVID-19 pandemic, the amount of data produced worldwide increased from roughly 41 zettabytes (about 41 trillion gigabytes) to over 64 zettabytes — an increase of more than 50% in one year. This figure is estimated to reach over 180 zettabytes by 2025, as an ever-growing abundance of information floods in from digital platforms.
Now more than ever, businesses require analytics experts who have the skills to connect new data to real-world business solutions. Earning a Master of Business Administration (MBA) with a Concentration in Data Analytics will prime you for a job in one of the fastest growing fields in today’s economy.
The online MBA program in data analytics from the University of Southern Indiana (USI) offers students foundational knowledge in business administration. Core MBA studies include coursework in areas like leadership skills and innovation, information systems and technology, economics, accounting, finance, marketing and strategic management. The data analytics concentration provides students with specialized instruction on techniques for extracting insight from data, translating insight and information into usable, actionable forms and applying data-generated insight to the real-world problem-solving that today’s businesses demand.
Why an MBA in Data Analytics?
Interest in the highly focused, advanced degree in data analytics has skyrocketed with the growing amount of data collected. Graduates have little problem finding employment. Through earning a data analytics MBA from USI, professionals can apply what they learn to help organizations improve efficiency and identify new opportunities, increasing productivity and profitability.
From the finance sector to entertainment, industries of all sorts need data science experts. In retail and marketing, data analysts and data-driven problem-solvers are needed to translate data into successful marketing strategies that propel traffic and sales. As supply chains are global and immensely complex, data analysts with managerial skills are needed to coordinate data analysis and decision-making across functions, using advanced real-time and predictive analysis to circumvent massive supply chain disruptions.
The need for analysts is also on the rise in healthcare and related industries. Insurance companies and hospitals require analysts to keep costs in line and monitor compliance with rapidly changing healthcare regulations. Data scientists and data-savvy management are also using analytics to improve patient health outcomes while providing more efficient and cost-effective care. An MBA in data analytics can help healthcare professionals be effective in medical and health services management jobs, an occupation which is projected to grow an astounding 28% between 2021 and 2031, according to the U.S. Bureau of Labor Statistics (BLS).
Job Outlook for Data Analytics
The job outlook is very positive for professionals at the cutting edge of data analytics and business management. BLS projects employment of operations research analysts to increase 23% between 2021 to 2031. Job growth for data scientists is projected at 36% from 2021 to 2031, making it the 6th fastest growing occupation, according to BLS.
The opportunities for professionals with data analytics expertise are virtually endless, with demand far outpacing supply. As the amount of new data grows exponentially, the need for MBA graduates with strong technical skills in data analytics will continue to grow. Graduates with industry-specific knowledge who can analyze data and solve problems for companies will enjoy higher than average salaries and job growth well into the next decade.
Learn more about the USI online MBA with a Concentration in Data Analytics program.