Using Analytics to Make Better Business Decisions

April 14, 2015 |


Putting Information to Good Use

There is more information and data being created today than ever before. In fact, over the past two years, humans have created more than 90% of the total information ever generated, including all the plays, books, poems, maps, and other historical documents combined. How much data and information does that add up to? It’s approximately 1.8 zettabytes worth. To put that in perspective, every two days all of humanity will create more information and data than was created throughout all of human history up until the dawn of the 21st century. That’s a lot of data.

While there is more available than ever before, data means nothing if you can’t understand it or don’t know what to do with it. In a business setting, collecting, interpreting, understanding and using data can mean the difference between finding success and winding up bankrupt or without a job. The problem is that all of that data can seem incomprehensible if you don’t know what to look for and how to accurately interpret what you are looking at.

At the Daniels College of Business, we offer one of the world’s best Master of Science in Business Analytics. This advanced degree is one of the most relevant and useful degrees you can earn in today’s data-heavy world. If you are wondering makes this degree so beneficial and how the skills will help you make better business decisions, it all comes down to understanding the information you are given.

The Business Analytics Program

The Business Analytics Program at the Daniels College of Business is designed to help students learn how to interpret and act on the vast quantity of data produced in today’s world. The program is taught by faculty members who have years of experience in relevant fields and connections to some of the world’s largest and most successful organizations. Through hands-on learning in small classrooms, this program will prepare students to turn raw data into success-focused decisions in a professional setting. The 58 credit hour program will immerse students in the world of data analysis and cover every relevant topic. Classes range from business intelligence to predictive analytics, and each one is designed to highlight a certain aspect of data analysis and interpretation.

Understanding Data and Putting That Information to Good Use

Why is it important to understand how to interpret data in today’s business world and what advantages will you have if you know what business metrics are? Will understanding how to organize information help you achieve your professional goals? To answer those questions, you first need to consider how businesses use information.

Every day, businesses large and small work with countless terabytes of data. From emails to spreadsheets, even the smallest business can quickly become inundated and saturated with more information than it can handle. That data, though useful, is much like raw materials or minerals from the ground. While they have inherent value, they are essentially worthless in their raw state.

Students of our Business Analytics Program will learn to quickly identify the most valuable information and separate it from the aggregate or superfluous data they study. What type of data can you expect to mine from the vast quantities of raw information? Here are just a few of the things an expert in data analysis can discern:

  • Sales patterns over time
  • Customer trends and habits
  • Employee and team performance patterns
  • Technological trends and applications
  • Patterns in otherwise obfuscated or disorganized data
  • Ways to improve business efficiency

The program is tailored to today’s diverse world and will provide relevant information and tools you can use regardless of the professional goals you have. Whether you work in retail or at a data center, the concepts taught are universally applicable.

Better Business Decisions

The Analytics degree offered at the Daniels College of Business is a degree that will help you reach your career goals no matter what they are. This is not a limited degree with a narrow focus for specific post-graduate employment. It’s also not a vague degree with no set career path at its end. With the knowledge and skills taught throughout the program you will be able to find a quality career where you can excel and thrive. Here are just a few of the great career paths available for program graduates:

  • General managers and operations managers
  • Transportation, storage or distribution managers
  • Purchasing managers
  • Buyers for various retail or wholesale companies
  • Purchasing agents
  • Logisticians
  • Market research analyst
  • Budget analyst
  • Computer systems analyst
  • Operations research analyst
  • Statistician
  • And many more

Part of what makes the business analytics degree a great decision for anyone looking to boost his or her business acumen and increase earning potential–is that the knowledge gained will apply to almost any field. Whether you are currently making $25,000 a year and want to boost your income significantly or you are already making six figures a year and want to advance to a senior management position, being able to analyze, interpret, and understand data is vital at any level and in every field.

Today’s world is dominated by data. With the right education and experience, you will be able to make the most of the data available and turn it into decisions and actions that will benefit you, your career and the company wise enough to bring you on board.



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