In today’s data-driven, technological market, most businesses depend to some degree on consumer information, and increasingly, more companies are seeing the value of this type of information. Because of this, those who are able to decipher big data trends are in demand. Those interested in pursuing a career in business analytics can learn more about the many facets of the field by enrolling in a program to earn a Master of Business Administration degree (MBA) with a Business Analytics Concentration.
Why is big data appealing?
According to SAS.com big data can “uncover hidden patterns, unknown correlations, and other information that can be used to make better decisions.” Understanding what, how, and why individuals purchase can help businesses seek new customers, maintain current customers and possibly bring back former customers. The appeal of information-driven commerce is strong, and big data is how big businesses get involved. While “big data” as a concept resists easy definition, Forbes offers the idea that “data that exceeds the processing capacity of conventional database systems. The data is too big, moves too fast, or doesn’t fit the strictures of your database architectures.”Â From social networks to GPS tracking systems in phones, the big data trend is a collection of both captured and surrendered information.
Big data needs MBAs
Competitive businesses need new MBA graduates to analyze big data. As a relatively new area of study in most MBA programs, big data analysis is an uncommon skill among slightly older graduates. Further, the philosophy behind proper management and leadership has changed according to Berkeley Business School professor Florian Zettelmeyer: “being a good leader means possessing at least a working knowledge of data science.” This change is due to the growing availability of market and consumer information; now, large companies like Amazon and Google spend liberally on data collection and analysis. Business schools are considering these trends and updating their curricula accordingly. An MBA with a business analytics concentration is versatile: not only does it prepare students to collect, read and interpret big data, it also integrates this newly developed skill set into proven theories of business management.
The College of Business at the University of Tennessee at Chattanooga offers an online MBA program with a concentration in business analytics for those interested in the role of data in the marketplace. The combination of this newly developed area of study with the proven discipline of business management positions graduates above the competition for today’s technological and information-driven jobs.
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