Analytics in Action: A Guide to Landing and Thriving in Business Analytics Jobs 

Poised at the intersection of commerce and technology, the art and science of business analytics is likely to shape the future of business operations more than any other force in society today. Business analytics involves the use of quantitative methods, such as data analysis and statistical modeling, to derive value from large amounts of information and help administrative leaders make better decisions. To achieve these goals, business analytics professionals might use a broad spectrum of specialized digital tools and platforms. 

Depending on their specific wants and needs, organizations might turn to business analytics professionals to look backward at recorded data to identify potentially valuable patterns and trends (descriptive business analysis) or to determine why a specific result occurred (diagnostic business analysis). But business analytics professionals are also indispensable when it comes to looking forward to forecasting likely outcomes (predictive business analysis) and determining which of those outcomes are most likely to yield a desired result (prescriptive business analysis). 

Overview of Business Analytics Careers 

There are many ways that data-driven organizations can, in the words of the leading U.S. business analytics firm TechTarget, “treat their data as a business asset and actively look for ways to turn it into a competitive advantage.” However, a company’s business analytics efforts will only be as successful as the professionals who spearhead them. For a closer look at jobs in business analytics, read on. 

Importance of Business Analytics in the Current Market 

The ability of business analytics to drive strategic decision-making simply cannot be overestimated. In today’s business environment, few companies of substantial size and value can afford to ignore data analytics without losing out to their closest competitors. Business analytics can offer tremendous advantages when it comes to detecting and addressing problems as well as generally optimizing for success. By driving better-informed decision-making, business analytics can lead to dramatic improvements in operational efficiency, significant financial gains, and expansive organizational growth. 

Scope of Business Analytics in the U.S. 

As recently reported in Forbes Magazine, 94 percent of modern businesses consider data and analytics important to their growth. Reflecting the broad scope of benefits provided by business analytics, 64 percent of businesses say that it has boosted efficiency and productivity, 56 percent say that it has made decision-making more effective, and 51 percent say that it has led directly to improved financial performance. 

In-Demand Business Analytics Jobs in the U.S. 

Considering these ongoing market trends, it should come as no surprise that business analytics is a booming employment sector in the United States and beyond. Therefore, developing in-depth knowledge and skills in business analytics can be a great way to propel your business technology career. Here are just a few of the most in-demand business analytics positions in the U.S. today: 

Data Analyst 

These professionals collect, analyze, and interpret internal company and external market information to help businesses make better informed decisions. They employ a wide variety of sophisticated computer software to do so. 

Business Intelligence Analyst 

While data analysts concentrate more on the investigation of information to detect patterns, business intelligence analysts concentrate more on making practical sense of this information and translating it into actionable reports and relevant strategy. 

Business Systems Analyst 

Closely related to both data analysts and business intelligence analysts, business systems analysts set themselves apart through their exclusive focus on information technology (IT) operations and infrastructure. After a managing business intelligence analyst develops a strategic vision based on business analytics, a business systems analyst will use IT tools to make that vision a reality. 

Financial Careers in Business Analytics 

Although different organizations in different sectors and industries stand to benefit greatly from targeted business analytics, the advantages that it presents in the world of financial management are uniquely influential. Continue reading to learn about three of these among several financial careers that commonly employ business analytics. 

Financial Analyst 

Employed widely in the investment and financial services industry, financial analysts might specialize in areas that range from pension fund management to insurance coverage. They advise organizations and/or individuals in stock market transactions and other decisions that can either save money or generate profit. 

Business Analytics Specialist 

A close cousin to the business intelligence analyst, the business analytics specialist strives to identify data-driven opportunities for problem-solving and general improvement. Individuals in this highly strategic position draw upon the information collection, processing, and evaluation skills of data analysts. 

Sales Analyst 

A sales analyst is a professional who analyzes business data that relates to sales operations and outcomes. In addition to working with the internal sale figures of the organizations that employ them, sales analysts use industry and market data to monitor and predict ongoing trends with a focus on operational improvement and value generation. 

Specialty Careers in Business Analytics 

While employers tend to require significant numbers of sales, financial, and general business analysts on an ongoing basis, they might not hire quite as regularly for more specialized positions. However, many businesses operations would promptly come to a screeching halt without the following specialty careers in business analytics. 

Medical Economics Analyst 

Some positions (such as sales analysts) concentrate on business analytics that apply to a specific professional discipline, but others concentrate on business analytics that apply to a specific field or industry. The medical economics analyst, for example, focuses exclusively on the unique economic systems and processes that exist in the healthcare sector. 

Business Process Optimization Specialist 

Under the leadership of a business process optimization manager, these professionals generally improve existing workflows within organizations while both identifying and addressing specific operational inefficiencies. This process involves the collection and evaluation of large amounts of data and the benchmarking of that data according to key performance indicators (KPIs). 

Program Analyst 

Program analysts review a company's IT systems to make sure that they are operating as efficiently as possible. In addition to resolving problems as they arise, these professionals set operating requirements for each system and lead measures to optimize system operations. 

The Hiring Landscape for Business Analysts in the U.S. 

Although there are no available employment statistics for the business analyst occupation overall, the U.S. Bureau of Labor Statistics (BLS) forecasts a sunny future for two of the most prominent positions in the world of business analytics: management analysts and market research analysts. 

Tasked with using data to improve an organization’s operational efficiency, management analysts earn more than $95,000 per year on average or more in an entry-level position. With an expected job increase of nearly 96,000 between 2022 and 2032, employment growth for management analysts is expected to grow by an impressive 10 percent for the foreseeable future. 

Although they average slightly less on average with an annual salary of just over $68,000 per year, the BLS predicts a stellar hiring outlook for market research analysts. With a growth rate of 13 percent through 2032, the hiring landscape for market research analysts is more than four times better than the national average for all occupations. 

Companies Actively Hiring Business Analysts 

All types of organizations across industries and markets hire business analysts for a variety of purposes. In addition to private and public companies, government agencies and nonprofits commonly employ these professionals. Top employment sectors for business analysts include financial service providers, management consulting firms, and IT-related businesses. The human resources platform Glassdoor specifically names JPMorgan, Accenture, Deloitte, Wells Fargo, Amazon, and Citigroup as the leading employers of business analysts. 

Upgrading Skills for Business Analytics Jobs 

No matter where you happen to be in your educational or career journey, you will likely need to upgrade your knowledge and skills to gain the specialized insights and abilities that you need to succeed as a business analyst. The two best ways to train in business analytics and prove your value to employers is to pursue one or more relevant certifications and college degrees. 

Relevant Certifications for Business Analytics 

There are numerous different credentials that can certify your knowledge and skills in different areas of business analytics. The International Institute of Business Analysis, for example, offers multiple relevant certifications including the Academic Business Analysis Certificate (ABAC), the Entry Certificate in Business Analysis (ECBA), the Certification of Competency in Business Analysis (CCBA), and the Certified Business Analysis Professional (CBAP). Other certifying bodies include the Project Management Institute with its Professional in Business Analysis (PBA) designation and the International Qualification Board for Business Analysts with its Certified Foundation Level Business Analyst (CFLBA) and Certified Advanced Level Business Analyst (CALBA) designations. Of course, the right certification or certifications for you will depend entirely on your unique wants and needs. 

Master’s Programs in Business Analytics 

When it comes to advancing your business technology knowledge and skill, few things will propel you further and faster than a concentrated graduate degree in business analytics from an accredited college or university. In his Fortune article “Who Should Pursue a Master’s Degree in Business Analytics?,” Rich Griset reports that a graduate-level business analytics degree can open any number of pathways to various business careers. Griset interviews many business insiders who see a tremendous need for graduates with advanced analytics degrees. 

For More Information 

If you want to lay the educational foundation for professional success in the field of business analytics, you owe it to yourself to examine the details of the Master of  Business Analytics program at the University of the Cumberlands. Covering areas that range from data visualization to database management, this program stresses a comprehensive blend of classroom theory and hands-on training.