MS in Business Analytics, Top Colleges, fees, and everything else you need to know

To maintain pace with this ever-changing business world, stake owners need to make sure that they are not practicing outdated business routines, can foresee the future changes and anticipate them in advance. This is where a Business Analyst comes to the rescue. A business analyst helps an organization improve its overall working by analyzing its operations from time to time. 

Almost every business in the world requires a business analyst to ensure its smooth working and optimum utilization of its resources and opportunities. In addition, it helps in delivering value to the stakeholders.

Every organization, profit, non-profit, NGO requires business analysis for the smooth functioning of their operations and attainment of the organizational goals. 

There was a time when business and science were considered different. However, globalization has revolutionized business and its tactics subtly yet notably. In today's world, science and business go hand in hand. Business analytics is a combination of science and business. It is required by many big companies, which are hiring business analysts.

Table of Contents

Introduction

What is Business Analytics?

Types of Business Analytics

Why Pursue MS IN Business Analysis?

What would you learn in Business Analytics?

Prerequisites

• Exams
• Eligibility
• Documents Required

Best countries to Pursue MS in Business Analytics

Top 20 Colleges around the world to Study MS In Business Analytics

Business Analyst - Job Profiles and Salary Packages

Top companies hiring for Business Analysts

Conclusion

What is Business Analytics?

It is a process of gathering, recording, polishing, analyzing, visualizing, and interpreting data into meaningful business insights. In simpler words, a business analyst converts rough data into actionable plans.

Types of Business Analytics

Primarily, business analytics is of three types, descriptive analytics, predictive analytics, and prescriptive analytics.

Descriptive analytics- Descriptive analytics is historical in nature, it tells us what happened in the past.

Predictive analytics- Predictive analytics is speculative in nature, it predicts what might happen in future.

Finally, prescriptive analytics is action-oriented, it focuses on actions that should be taken. In other words, it prescribes what should be done.

Why Pursue MS IN Business Analysis?

• Evergreen profession - Covid has changed many people's lives around the world. Especially those professions, and businesses, which could not adhere to the changing needs of the world, they completely vanished. Business analytics is a stream with vision. Not only in today's world, but its relevance will never be obsolete. For example, there will always be data, and companies would always require individuals to analyze it for them to make the necessary changes. In this way, business analysts can never go out of business.
• Burgeoning demand for data professionals - There aren't many professionals in the world of data analytics. The top companies in the world are currently seeking data analysts.
• Accelerates hiring - Since there is a shortage of professionals in this field, the job offers from reputable companies will be pouring in as soon as you complete the course.
• A lucrative course - Not only does this course speed up your employability, but it also helps you get healthy salary packages. This course is lucrative because it allows you to relish higher salary packages. 
• Short term - This course takes 12-14 months only. In a year, you would be working as a business analyst in a reputable company.

What would you learn in Business Analytics?

Analytical Tools - You would be familiarized with some analytics tools, like R. R., Python, Apache Spark, SAS etc. Using these tools, you would be analyzing statistical data to strategize business ventures—for example, marketing strategy, market behavior, consumer behavior etc. 

Effective communication - A business analyst gets data from different teams and departments, so he has to communicate with them. This helps in learning how to communicate effectively. Most schools provide assistance in learning effective communication.

Problem-solving - This skill is a must for each of us in our professional life and personal life. We all face problems and need this skill to solve them effectively. As a business analyst, you would be trained to foresee the problems and make an actionable plan toward their anticipation.

Time Management - During this course, you will learn how to manage your time, prioritize tasks, and perform well under pressure.

Prerequisites

Exams

Some exams test your proficiency in English, and others are competitive / aptitude tests.

Language Proficiency tests.

Any one of the following tests is required to study or migrate to any English-speaking country. These tests are accepted in more than 11000 universities across 190 countries.

1. IELTS (International English Language Testing System)
2. TOEFL (Test of English as a Foreign Language) 
    

Competency/ Aptitude tests

The following are the aptitude tests required for studying in many universities. However, many universities only require the language test and do not mandate aptitude tests.

1. GRE - Graduate Record Examinations
2. GMAT - Graduate Management Admission Test
3. SAT - Scholastic Aptitude Test
    

Eligibility

1. A Bachelor's Degree with a score above 80%.
2. Either IELTS or TOEFL scores are considered in most colleges.
3. GRE, GMAT, SAT are the standard aptitude tests conducted in most universities. However, many colleges do not mandate these tests for MS In Business Analytics.
    

Documents Required 

Most colleges require these documents from international students.

1. Application Forms
2. Academic Transcripts
3. Statement of Purpose (SOP)
4. Letter of Recommendation (LOR)
5. Curriculum Vitae (CV) or Resume
6. Test Scores (GRE, GMAT,)(If required)
7. IELTS/TOEFL Scores
8. Essays (If required)
9. Valid Passport
10. Bank Statement - To ensure that you can bear living expenses in that country.
11. SSC/10th or equivalent
12. 12th/intermediate or any equivalent certificates
     

Best countries to Pursue MS in Business Analytics.

The US, Canada, UK, Singapore, France, and Germany are the best countries to study MS in business analytics.

US - US offers the finest education in almost every field, be it technology, business, literature, or journalism; business analytics is no different. The minimum tuition fee for this course in the US is 26544 USD. Living expenses would be around 800-1000 USD per month. Most universities offer scholarships to deserving students. These scholarships can be up to 50% of the total fees of the course. San Jose State University does not require you to take GMAT, GRE, for specific courses and MS in Business Analytics is one of them. Northeastern University requires GRE but does not require scores. The best universities of the US to study MS in Business Analytics are -

• University of Southern California (Marshall)
• University of Washington (Foster)
• North Carolina State University (Institute of Advanced Analytics)
• University of Rochester (Simon)
• University of Minnesota (Carlson)

Canada - Studying in the diverse culture of Canada would widen your perspective in ways that are out of your imagination. So, if you are the kind of person who likes to meet new people and learn about their culture, Canada is the place for you. If you are already fluent in English, you can opt for French as a second language.

Master's of Science (MS) in Business Analytics from Canada would cost you somewhere between 20000 - 52000 USD tuition fees. It depends on the college you choose to study in. You would have to spend 5000 - 15000 USD besides your tuition as living expenses. It will vary depending on the place you are staying at and your lifestyle. Many colleges in Canada offer scholarships for deserving students. You can win a scholarship amounting up to 15000 USD if you ace your application. If you were absolutely brilliant in academics but didn't do well in GRE or GMAT, some Canadian universities would still consider you.

Here are the best colleges to study MS in Business Analytics In Canada.

• UBC Sauder School of business
• York Schulich School of Business
• University of Alberta
• Western Ivey Business School
• HEC University

UK - Since data analytics is the basic need of every business in today's data-oriented world, the UK is doing its part of offering the best courses in this field to serve the world with its best alumni. All the world's top companies value a degree from the UK. 18,000 to 29,000 GBP should cover your tuition fee in MS in business analytics from the UK. You'll have to spend an average of 500GBP per month to bear the living expenses in this country. Most universities offer scholarships; your application must stand out if you wish to win the scholarship. Exams like GRE and GMAT are not required in most universities of the UK, whereas IELTS / TOEFL is required in all. Some of the best universities to study MS in Business Analytics in the UK are-

• University of Cambridge
• UCL
• Imperial College London
• University of Oxford
• London School Of Economics

Singapore - The cost of studying MS in Business Analytics in Singapore is 35,000-45,000 SGD, i.e. 25746 - 33102 USD. You would have to spend about 800 SDG per month. There are many universities in Singapore that offer scholarships to deserving students. Many colleges in Singapore do not require IELTS; some of them are :

• National College of Singapore
• Nanyang Technological University
• Singapore Management University
• Singapore University of Technology and Design

Benefits of studying in Singapore -

• Education in Singapore is much more affordable compared to US, Canada, or EU countries.
• Though it costs less, Singapore does not compromise the quality of education. It offers just as much scope and innovation as any other developed nation.
• Students from more than 30 countries move to Singapore to study. This enhances the growth opportunities for students as they get to interact with multiple nationalities.
• Many companies are set to enter Singapore, enhancing job opportunities for the youth.
• Singapore has a 0 tolerance policy for ragging, bullying, or any abuse.   

France - France is mainly among the top 5 countries in education. French is compulsory in most universities in France, which allows you to learn the third most-used business language in the world. To study in the 'Republic of French,' you would have to spend about 18,844 - 32,304 USD for tuition and 965 - 1136 USD for living. Like the other countries we talked about, France also provides tuition waivers, but a student has to ace their application to win these. Some of the top colleges of France for MS in Business Analytics are:

• ESC Clermont Business School
• De Vinci Higher Education Group
• ESCP Business School
• emlyon business school
• ESSEC Business School

Living in France gives you the chance to explore this beautiful country on a student visa. 

Germany - Germany is among the best countries when it comes to education. The best thing about studying in this country is that most public universities do not cost any tuition fees. However, there is a certain amount that is charged from international students. IELTS and TOEFL are not mandatory. 

In Germany, the cost of living could be anywhere around 400-1400 USD per month. This cost depends on the city and lifestyle. Top companies like SAP SE, Shell, Efficio, Microchip Technology, etc., hire Business Analysts in Germany. Top universities for studying MS in Business Analytics in Germany are -

• The University of Technology, Chemnitz (Free)
• SRH University, Heidelberg (18960 EUR)
• Neu-Ulm University of Applied Sciences (Free)
• Otto Von Guericke University (Free)
• Stuttgart Media University (Hochschule der Medien) (21000 EUR)

Top 20 Colleges around the world to Study MS In Business Analytics

Business Analyst - Job Profiles and Salary Packages

A Business Analytics degree doesn’t limit you as a Business analyst only. Instead, it gives you a wide range of careers in this particular field. Here are the different Job profiles in this field.

Top companies hiring for Business Analysts

Bloomberg L.P. - Established in 1981, this company distributes financial data. It is the top data distributor of this era, due to which it requires data analysts to organize this data on a daily basis. It is an IT Information and Technology) The company is based in New York.

Capital One - Founded in 1994, this company specializes in credit cards, auto loans, banking, and savings accounts. Its headquarters are located in McLean, Virginia. It is a technology-focused company and holds a reputable position among the banks of America. 

Amazon - If you have never heard about Amazon, then you are probably living under a rock. It is the largest platform for online shopping around the globe which was founded in 1994 and is based in Washington. It generated revenue of 232.9 billion USD in 2020.

IBM - International Business Machines is a multinational technology corporation. It is a New York-based organization that was founded in 1911. In 2019, it generated 73.62 billion USD worth of revenue.

Google - Google LLC was founded in 1998. It is also an American multinational technology company. Google is the most popular search engine. In fact, it has become another word for research; for example, nowadays, people say "google it", instead of saying 'search it on the web. This is the ultimate story of Google's success.

Accenture - Accenture was established in 1989. It is a professional service MNC. It specializes in information technology services and consulting.

To sum up, we can say that a Business Analytics degree can amplify one's career. Moreover, the eternal nature of this profession makes it incredibly reliable and worth investing your time and money in.