The business world is increasingly data-driven, and the vast amounts of data available require businesses to be able to gather, analyze, extract insights and make informed decisions based on research. A concise definition of business analytics from IBM states, “Business analytics refers to the statistical methods and computing technologies for processing, mining and visualizing data to uncover patterns, relationships and insights that enable better business decision-making.”
The International Institute for Management Development (IMD) stresses that businesses must leverage these analytics to understand “business operations, customer behavior, market trends, and internal processes.” Working professionals who want to gain proficiency in business analytics to collaborate in the design, development and adoption of business analytics applications can pursue the online Master of Business Administration (MBA) with Business Analytics Certificate program offered by the University of Illinois Springfield (UIS).
The Science of Data
Business organizations that want to gain a complete picture of their business, along with an understanding of user behavior, employ business analytics to answer questions and make predictions and forecasts. There are four types of business analytics used most often, according to IBM:
- Descriptive analytics: looks at historical data to provide insights into past events and trends
- Diagnostic analytics: considers the root cause of an event to determine what influenced the business outcome
- Predictive analytics: mines existing data to identify patterns enabling a business to predict outcomes and behaviors in the future
- Prescriptive analytics: looks at existing data and resources to help identify what will happen next
Depending on the industry a business is in, different types of analytics will be most useful. For example, predictive modeling and forecasting can be essential in health care while customer behavior provides key insights for marketing companies. In manufacturing, supply chain data is critical for planning shipping routes, vehicle performance and delivery logistics. In finance, business analytics provide insights into investment performance, risk assessment and return on investment.
What Jobs Can You Get With an MBA in Business Analytics?
Career opportunities are rich in the lucrative field of business analytics. Those with the knowledge, insights and skills to excel in business analytics can find a number of specialized jobs to pursue, including the following. The salary information provided below is current as of April 2025, and actual salaries will vary depending on job location, work experience and other factors.
Data Scientist
Using science and math, data scientists evaluate and interpret data to convert their insights into action. They also identify and create data-driven solutions to help organizations make better decisions. Indeed reports that the national average salary for a data scientist is $119,380.
Business Intelligence Analyst
Using data insights, a business intelligence analyst recommends improvements in resource allocation, the best tools and technology to collect and analyze data, and how best to evaluate the data they collect. According to Indeed, the national average salary for a business intelligence analyst is $87,886.
Database Administrator
In addition to ensuring that databases are running efficiently, database administrators create systems, manage data and control user access to data. The U.S. Bureau of Labor Statistics (BLS) says this quickly growing career path features an average annual salary of $117,450.
Technical/Business Architect
Business architects and technical architects work jointly to oversee and strategize business capabilities. They mainly align strategic objectives with tactical demands and can identify and highlight issues that may be hidden from other individuals and departments. Indeed reports the national average salary for a business architect is $152,588.
Software Developer
Software developers design and develop applications, systems and technical services and deploy and maintain those systems. They may work with hardware engineers to integrate hardware and software and update or enhance existing software capabilities. BLS estimates the average annual salary of a software developer to be $130,160.
Business analytics professionals are not limited to these roles. They can also enter careers as data engineers, IT project managers, chief technology officers, financial analysts, data analysts, network analysts, quantitative analysts, product managers, business consultants and more.
Earn an MBA in Business Analytics to Further Your Career
Business analytics is one of the fastest-growing business fields for professionals with expert knowledge of database systems, internal and external data and insights into the design, development and adoption of business analytics applications. The UIS online MBA in Business Analytics program is AACSB-accredited and trains students in the following key practices:
- designing, developing and adopting business analytics applications, technologies and processes
- utilizing database design theory and development focused on relational databases
- integrating and applying technical knowledge in programming, website building, network communications and reporting systems such as SQL
Courses cover topics such as production and operations management, information technology management, business strategy, database systems management, data mining and more. Earning a business analytics MBA online from UIS equips you with the insights essential to thrive in business analytics roles.
Learn more about the UIS online MBA with Business Analytics Certificate program.
