Career Outlook - Business Analytics
Industry Branches Benefiting from Business Analytics
- Retail - customer behavior and shopping basket
- Target marketing
- Fraud identification and protection
- Health care and genetic research
- Drug interaction and medical diagnostics
- Web and e-commerce
- Social Media behavior and link analysis
- Loan and credit card approvals
- Customer support and customer service
Job Prospects for Business Analytics Minor and Certificate Holders
- Whatever your field of interest and career is, chances are you will benefit from your Business Analytics Minor or Certificate.
- Business Analytics is one of the fastest growing business job specializations as a result of the extensive use of electronic databases for record keeping and electronic commerce in the digital economy.
- Forbes penned 2016 “The Year of Information on Demand”.
- According to a Wall Street Journal article, companies, barraged with data from the Web and other sources, want employees who can both sift through the information and help solve business problems. As the use of analytics grows quickly, companies will need employees who understand the data.
- In 2012, The New York Times reported a high demand for data consultants to “help businesses make sense of an explosion of data”.
A May 2011 study from McKinsey & Co. found that by 2018, the U.S. will face a shortage of 1.5 million managers who can use data to shape business decisions.
Existing Professions Benefiting from Skills in Business Analytics
- Marketing, advertising, sales, retail managers
- Customer service and churn managers
- Web usage and web behavior analysts
- Human resource managers
- Social scientists and social workers
- Physicists, chemists, actuaries, accountants, fraud detectors
- Law enforcement officials
- Criminal justice professionals
- Healthcare professionals - Providers, Insurance representatives, Researchers
- Financial managers
- Geographical and GPS analysts
- And many others