How to Become a Successful Business Data Analytics Specialist
Businesses today run on data. Data can be the difference between a business that accurately understands its past and can strategically plan for its future and a business that operates on hunches and struggles to hit the mark.
Data is at the heart of smart business decisions, and that data is only useful with the help of qualified analysts. Business data analytics specialists are responsible for taking large quantities of complex data and making sense of it all. They are vital team members, helping leadership make sound decisions that impact relationships with consumers and stakeholders and achieve their goals as market needs change.
Are you interested in a position as a business data analytics specialist? Let’s look into this role and what it takes to succeed in this field.
What Is a Business Data Analytics Specialist?
A business data analytics specialist works with quantitative and qualitative data to find, interpret, and share insights to drive business growth. These professionals may also hold titles such as “Business Analytics and Insights Specialist,” ”Business Operations Data Analyst,” or simply “Business Data Analyst.”
Data analysts don’t just crunch the numbers. They visualize and summarize essential data for decision makers, providing a roadmap to business success.
What Does a Business Data Analyst Do?
Some of the job duties of a business data analytics specialist include:
- Extracting, cleaning, and organizing data to make it usable.
- Analyzing marketing, supply chain, manufacturing, financial, and administrative data and reports.
- Identifying business inefficiencies that can be rectified, possible process improvements, and new opportunities to gain a competitive advantage.
- Making data-driven recommendations for critical business success.
Skills Required for a Data Analytics Specialist Role
Some specific skills that can help you succeed as a business data analyst include:
- Data collection: Analysts must first gather data from various sources. Depending on the insights they’re looking to provide, this may include financial reports, customer data, industry reports, public datasets, and more.
- Data cleaning: Data tends to start out messy. Inaccuracies, redundancies, and omissions can skew results, so data analysts must address these issues to ensure the fidelity of the data they’re working with.
- Data analysis: Data scientists interpret information by using statistical and analytical techniques to analyze data sets and extract meaningful patterns, trends, and insights.
- Predictive modeling: Analysts can use historical data to forecast future trends by building and deploying predictive models. This is one of the main ways they can help businesses predict and influence future outcomes.
- Cross-departmental collaboration: Data analysts typically work with other teams, including IT, finance, marketing, and operations, to collect data, understand their data needs, and provide relevant insights.
- Data visualization and reporting: To present data in a more intuitive format for other audiences—like organizational leaders—business data analytics specialists often create visual representations, such as charts or graphs. They may also create written reports and slide presentations to communicate key findings and insights.
- Communication: Strong communication skills are nearly as essential as strong analytical skills. Data analysts need to be able to effectively communicate with non-technical colleagues, discussing problems, proposing solutions, and explaining how they came to certain conclusions.
Career Outlook for Data Analytics Professionals in Business
Business data analytics professionals are highly valued experts throughout the business world.
Growing Demand
According to the U.S. Bureau of Labor Statistics (BLS), a growing emphasis on data-driven decisions will also mean a growing need for data scientists. Employment in this field is projected to increase by 35 percent from 2022-2032, with roughly 17,700 job openings each year. That’s significantly faster than the average growth for all occupations. Similarly, employment of operations research analysts is expected to grow by 23 percent over the coming decade.
Impressive Salary
Business data analytics specialists can earn a high salary, making the investment in an MBA well worth the return. On average, data scientists are paid $103,500 a year. Operations research analysts earn an average annual salary of $85,720. That’s already an impressive number, but it’s even higher in certain industries, such as the federal government ($124,610).
Steps to Start Your Career as a Business Data Analytics Specialist
With some promising advantages to this career path, you may be wondering how to land a job as a data analytics specialist in business. Follow these steps.
Earn your degree in business data analytics.
Building a successful career as a business data analytics specialist starts with getting the right education. Although a bachelor's degree in business may be enough to get your foot in the door, a graduate-level degree is preferred for many top-level positions. A Master of Business Administration (MBA) in Business Data Analytics provides the ideal preparation for this career path, giving students the practical tools they need for data analysis paired with a deep understanding of core business principles.
Courses in business intelligence and decision-making analytics help students learn how to apply their skills to real-world scenarios. Students learn to structure meaningful queries, visualize key performance indicators, and effectively communicate their findings to decision makers.
Find your niche.
With a degree in business data analytics, you can take on a variety of career roles. Some analysts focus on gathering and analyzing a particular type of data, such as market research or financial data. Some hold a long-term position within a company, whereas others serve as a consultant, contracting out their services to various companies. Business data analysis is a highly versatile skill set, so there is no shortage of occupations to explore.
Secure a position you love.
Getting a business data analytics degree is an excellent start to securing a job. There are other steps you can take to find job opportunities for data analytics professionals, including:
- Working with career services at your college or university.
- Beefing up your resume with relevant skills.
- Building your professional network.
- Attending career fairs.
- Putting your best foot forward in interviews.
MVNU Online students get to work with a full-time career services coach to uncover job prospects and find the best ways to advance their careers.
Once you’ve secured a position you love, pursue opportunities for ongoing learning and mentorship to make the most of your experience and accelerate your career growth.
Jump-Start Your Career with an MBA in Business Data Analytics from MVNU
A career as a business data analytics specialist can be a lucrative and fulfilling way to put your analytical skills to use. You could provide the data-backed insights that companies need to propel them toward a brighter future.
Are you ready to get started? Our online MBA programs give working adults the freedom and flexibility to learn while balancing a busy schedule. You can start investing in your future by earning your MBA in Business Data Analytics.
If you’re not sure you want to pursue grad school, you may be interested to learn how much you could earn with each level of education you attain. Check out our infographic to learn more!
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