Friday, August 12, 2022

How an MBA Analytics Program Drives Data-Driven Decision Making?

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Shreya Christina
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If you’re familiar with the business world, you may have heard the term “data-driven decisions” used a few times. However, this is still a relatively new way of thinking that has been made possible thanks to advances in algorithms and data analytics that can significantly improve a company’s operations. For people looking to improve their ability to make difficult decisions, understand which decisions can positively or negatively impact a business, and stand out from the competition, a Masters in Business Administration focused on Data Analytics can prove invaluable.

What is a Masters in Business Administration?

A Masters in Business Administration is also referred to as an MBA. An MBA is a prestigious graduate degree that can help graduates earn a median income of $115,000 per year! This high salary is one of the many reasons students flock to colleges that offer MBA programs, especially programs with an emphasis on data analytics.

What is data analysis?

Data analysis seems simple at first glance. It is a type of research that looks at raw data and draws conclusions based on:

  • Emerging trends
  • Material costs
  • Customer satisfaction
  • Impact on production and business

Using data analytics today is critical for any business owner. For example, if a business owner wants to know how to improve production and studies show production is slowed down because employees are on their phones, the boss can now decide to ban phone use while working.

Yes, these are difficult decisions for everyone to make. But the beauty of data analytics is that all decisions made by business personnel are backed by state-of-the-art studies and science.

How to improve data-driven decision-making?

Like all skills, you need to practice making data-driven decisions in order to use this skill naturally later on. Earning a master’s degree in business administration with a focus on data analytics can help students and future business leaders learn to use this type of thinking almost immediately.

If you’re looking to make a career switch and learn how major executives and companies use data-driven decision-making in their day-to-day plans, taking a course and earning an MBA can help you take a closer look at how all these decisions and planning work.

Obtain your MBA quickly and affordably

The cost of a master’s degree in Business Administration is quite substantial, averaging between $55,000 to nearly $162,000† While this is quite a substantial investment, it can greatly improve your job prospects and your short-term salary. For those with an MBA who are strapped for cash, those in full-time or part-time employment, and college graduates who have children or loved ones to care for, a MBA analytics online training is priceless.

This kind of program offers:

  • Flexible scheduling in the morning, afternoon and night so you can get around your busy schedule and still complete your education
  • High-quality and reputable tutors with business experience
  • Networking capabilities, even through online programs
  • A student-centered approach to help you succeed rather than worry and stress about completing your education

Being data-driven is not only a valued skill, but also a necessity in today’s market. From supply chain issues currently impacting the global economy to the COVID-19 pandemic devastating supply chains and manufacturing, it takes a data-driven leader to move companies forward and keep them afloat. Now more than ever, an online MBA in data analytics degree can help you become a valued member of a company and quickly improve your career prospects.

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