Our Guide to Master’s in Business Analytics Programs

Business analytics master’s degrees are great options both for those who are already working in business and looking to advance their careers and those working in another field who are looking to transition into a business analytics career.

Career advancement

A business analytics master’s is an excellent way for someone already working in a particular industry to improve their data skills and learn the latest industry-leading practices to be a more attractive candidate for promotion at their current company or for a more senior role elsewhere. For many more-senior roles, companies will often list a master’s degree as either a required or a preferred qualification in job postings.

Career transition

For someone holding a bachelor’s degree, either just out of college or working in a different field, a master’s in data analytics can provide the skills, expertise, and experience needed to land a job as a business analyst. Some programs require that graduate students arrive with some basic experience in programming, statistics, or business, but many will provide summer boot camps or introductory courses to get students up to speed quickly, provided they demonstrate aptitude for the course of study.

What kinds of jobs are available to those with master’s degrees in data analytics?

Whether they entered their programs for career advancement or career transition, those holding a data analytics master’s degree usually find employment in one of four roles: data analyst, business analyst, business intelligence analyst, or data scientist. We’ll give summaries of each below, and you can also check out our article on analytics jobs to see some real-world job descriptions.

Data analyst

A data analyst is typically responsible for gathering and preparing data for analysis, analyzing it to extract insights related to operations, specific products, or other initiatives, and communicating their findings with various business stakeholders.

Salary.com estimates the average data analyst salary in the US to be $81,719.

Business analyst

A business analyst is typically responsible for collecting, preparing, and analyzing data to yield business insights to inform future business actions. That said, there is often significant overlap between the work of a data analyst and the work of a business analyst.

Salary.com estimates the average business analyst salary in the US to be $79,770.

Business intelligence analyst

While a business analyst is responsible for preparing insights focusing on future action, a business intelligence analyst focuses more squarely on providing informational tools such as reports and dashboards on markets, industries, or business performance.

Salary.com estimates the average business intelligence analyst salary in the US to be $85,278.

Data scientist

While a data scientist’s responsibilities overlap with those of a data analyst — they also collect, prepare, and analyze data — a data scientist is also responsible for designing, developing, and executing new approaches to data analysis of big data sets, often with the help of machine learning.

Salary.com estimates the average data scientist salary in the US to be $139,631. If you’re particularly interested in becoming a data scientist, check out our guide on data science master’s programs, and assessment of salary outcomes for a master's in data science, and our explainer on the typical data science career path for more.

Should you get a master’s in business analytics or data analytics?

For someone holding a bachelor’s degree looking into graduate school options that would help them become a data analyst, business analyst, business intelligence analyst, or data scientist, it can be difficult to decide between business analytics and data analytics programs. As we noted above, there can be significant overlap in the responsibilities of a business analyst and a data analyst. Similarly, there can be significant overlap between business analytics and data analytics.

In our eyes, deciding between business analytics and data analytics programs comes down to curriculum — and the kinds of students that different curricula will attract. Unsurprisingly, there’s also overlap here, but business analytics programs often have business-geared emphases and opportunities that many data analytics programs don’t. We’ll detail these in the next section.

The core of a business analytics master’s curriculum doesn’t differ much from a data analytics program. Students can expect to cover the following: 

Computer science skills, including programming with programming languages like SQL, Python, or R. (Check out our programming language deep dive.)

Statistical methods for data analysis, including regression, optimization, and decision trees, as well as certain machine learning techniques

Data collection, preparation, and processing policies and procedures, including data mining for big data and data cleaning

Data visualization practices and tools

Often, however, these topics will be taught in business-oriented courses (e.g., “Optimization and its Business Applications) and/or supplemented by business-focused courses (e.g., “Financial Accounting,” “Business Communication,” “Decision Strategies,” etc.).

Master’s in business analytics programs might also feature one or more of the following opportunities:

• An internship, practicum, or immersion program at a local business

• Business- or industry-specific tracks or concentrations

• Business- or industry-focused student interest groups

• Case competitions centered around using analytics to solve business problems

What are the prerequisites for master’s-level study in business analytics?

The exact prerequisites will differ for each program. Some programs require that candidates enter with some experience in programming, statistics, or business, while others are open to candidates starting from zero. It’s best to check a program’s website or contact their admissions office before beginning an application to ensure your application will be welcomed.

Having acknowledged that there’ll be variation, there are some important commonalities. Since these are master’s programs, applicants must hold a bachelor’s degree at the time of matriculation and submit transcripts and their GPA. International students are required to show proof of English fluency. Many programs also still require applicants to submit GRE scores, though, since the onset of the COVID-19 pandemic, schools have begun relaxing this requirement. Common application components, in addition to these, typically include a statement of purpose and a personal statement.

What should you look for in a master’s in business analytics program?

Choosing which master’s in business analytics programs to apply to and, if admitted, which one to attend is a big decision. We recommend you focus on the following factors as you consider your options:

Modality

Traditionally, the only way to get a master’s was on campus. Increasingly, however, aspiring business analysts have the option to pursue a master’s degree online. In many graduate programs, students also have the option to study part-time instead of full-time. 

Online and/or part-time study can help improve the financial calculation of whether to pursue graduate study by allowing interested students to continue working or taking care of familial obligations while they study, reducing lost income potential and relocations and housing expenditures while they are investing in their future. 

Program profile

Many programs will have similar curricula focusing on programming, analytical methods, data management techniques, and business applications, but programs won’t all emphasize these components similarly. Different programs will often also have different philosophies about teaching the information. Some will start with first principles and work towards specific use cases, while others will foreground these cases and encourage students to induce principles from what they observe.

As you research, you want to ensure that a program’s strengths match what you want to focus on, where you want to go with your career, and that their teaching philosophy corresponds with how you learn best.

Reputation

When researching schools, focusing on big-name, elite private institutions is tempting. There’s some sense in this: name recognition is important for many recruiters, and the names of these schools are recognized because graduates have historically been successful.

At the same time, a big name comes with a price, even while you can get similar instructions elsewhere. State schools offer extraordinarily competitive programs for considerably less, especially if a student can take advantage of in-state tuition discounts.

As you research, you’ll need to decide on a case-by-case basis whether the value of a school’s reputation justifies the increased cost and whether both correspond to a higher quality of instruction. As you determine this, it can help to understand better where graduates of these schools end up by researching them with LinkedIn or other social networks.

Cost

Like all higher education, master’s study is usually pricey, but it doesn’t need to be exorbitant. In discussing reputation, we’ve already touched on the many public schools offering great programs for a fraction of the price of the elite private universities. As you factor cost into your decision-making, consider also any scholarships or grants you might qualify for, lost potential income, increased earning potential from your education, and potential interest if you take out loans to fund your education.

Check out our guide on what salary you can expect with a master's in business analytics.

Career support

Education will help you gain the skills, expertise, and experience needed to begin or advance as a business analyst, but you still need to get the job. When deciding on programs, it’s a good idea to consider what kind of career support that program can provide, such as internship opportunities, career offices offering resume and interview advice, alumni networks, or private job boards. You should also check to see if they can provide student outcome information, as this data can provide the best picture of whether the degree offers a worthwhile return on investment.

Industry connections

A program's industry connections can pay serious dividends, whether through internships, guest lecturers or speakers, or job placements. Often, these connections are determined by geography. As you research programs, pay attention to the industries booming around the school — like tech for Bay Area schools — and check to see if the program lists any industry partnerships. Even if there aren’t any formal partnerships, there’s a good chance that at least some graduates of the program would remain nearby if the program was offered on campus. This can offer great networking opportunities down the road.

Because of aspiring business analysts' diverse backgrounds, motivations, and goals, it makes no sense to single out any “best” master’s in business analytics program or even rank programs according to some abstract criteria from best to worst. In putting together our picks, we instead focused on presenting great programs that could appeal to various future learners. In making our decisions, we paid attention to the same factors we suggest you do:

Reputation: How valuable is a school or program’s reputation?

Curriculum: Does a program’s business analytics curriculum stand out against the mean? Are there exciting emphases? Does the quality of instruction seem high?

Career support: Does the program offer sufficient career services and other resources to help students find jobs after graduating? How easily are graduates finding high-paying jobs?

Modality: Do the different modalities offered provide options so that aspiring business analysts from various backgrounds have the opportunity to pursue a master’s degree?

Cost: Does a school offer good value for money? Is there a high likelihood of a substantial return on the initial investment?

Industry connections: Does the program have valuable formal or informal industry connections that can yield internships or job placements?

With that in mind, here are our recommendations:

In this guide, we’ve gone over the basics of business analytics, looked at some of the reasons to pursue a business analytics master’s degree and potential job outcomes, provided tips for what to look for in a program, and presented some of our favorites. So what are the next steps? If a program interests you, we recommend you visit the program’s website to learn more.

If you aren’t sure you’re ready to pursue master’s-level study and want to learn more, you can check out our deep dive on whether a data analytics master’s is worth it, which contains applicable information to business analytics master’s.

Finally, if you want to learn more about online opportunities, their benefits, and drawbacks, head to our online-exclusive guide to business analytics master’s programs, which similarly has applicable information.