Business Analytics and Data Science are two often really misunderstood terms and are often assumed to be the same by the students. However, this is not the case and data science and business analytics actually differ a lot from each other. Read this blog further to understand the comparison between Business Analytics vs Data Science.
This Blog Includes:
- What is Data Science?
- What does a Data Scientist do?
- Top Universities Abroad for MS in Data Science
- What is Business Analytics?
- Components of Business Analytics
- Skills Required
- What does a Business Analyst do?
- Top Universities Abroad for MS in Business Analytics
- Difference Between Data Science and Business Analytics
What is Data Science?
To begin the difference between Business Analytics vs Data Science it is important to know that data science can be defined as the process of examining different data sets in order to draw conclusions from the information available with the help of specially designed systems and software. In simple terms, a data scientist performs different activities in order to leverage existing data sources as well as create new ones in order to draw out meaningful information from the data and actionable insights. All the meaningful information drawn from this data is used to make major business decisions which are aligned with the long-term business goals and have a major impact on the direction of the business.
Data scientists need to be an expert in the following-
- Mathematics (includes statistics and probability)
- Computer science (e.g., software/data architecture and engineering)
- Communication (both written and verbal)
Also Read: BSc in Data Science
What does a Data Scientist do?
To further know the difference and similarities in Business Analytics vs Data Science, it is important to first know the roles of data scientists. They are mentioned below.
- Pattern detection and grouping
- Anomaly detection
- Scoring and ranking
Must Read: SOP for MS in Data Science
Top Universities Abroad for MS in Data Science
Before we move on in drawing our analysis in Business Analytics vs Data Science let us first find out the top universities abroad for Data Science.
- Columbia University
- New York University
- Northwestern University
- The University of Texas at Austin
- University of Denver
- Georgia State University
- Carleton University
- Illinois Institute of Technology
- Southern Methodist University
- DePaul University
Must Read: Masters in Data Science in Canada
What is Business Analytics?
As we move on in our comparison of Business Analytics vs Data Science, we also need to understand what is business analytics. Business analytics can be defined as the process used by businesses in order to analyze historical data in order to develop new insights and improve the decision making process with the help of statistical methods and technologies. Business Analytics involves the use of various methods such as data mining, statistical analysis and predictive analytics which are performed in order to analyze the data in its true sense and understand the data to make smarter business decisions based on the current market scenario. Business analytics experts are able to optimize operations by evaluating the data and are able to work in the direction of increasing revenue and improving customer relations.
Also Read: MS In Business Analytics In USA
Components of Business Analytics
Listed below are the component of business analytics to further our comparison between Data Science.
- Data Mining
- Data Aggregation
- Text Mining
- Association and Sequence Identification
- Predictive Analytics
- Data Visualization
Understanding the skills required by business analyst is also important in our comparison of Business Analytics vs Data Science. Here are a few skills which are required in order to excel in the field of business analytics.
- Analytical skills
- Problem solving skills
- Commercial skills
- Communication skills
- Time management skills
- Organizational skills
- Leadership skills
- Management skills
What does a Business Analyst do?
Just like we discussed the various roles of data scientist it is also important to know the roles of business analyst to truly draw a fine analysis in Business Analytics vs Data Science. They are mentioned below.
- Devise an appropriate plan for the business to move forward based on their past performances along with a proper research.
- Understand and analyze the business structure completely such as figuring out the goals of the business and what it plans on accomplishing in the next few years.
- Carry out different analytical techniques in order to find out the shortcomings of the business.
- Manage different technologies and systems in the business and work on the proper implementation of those systems as well as review them.
- Have an effective communication with the senior officials of the organization in order to be up to date regarding what they want from the organization and how they plan on achieving those organizational goals.
- Persuade internal as well as external stakeholders of the benefits of new technology or strategies.
Top Universities Abroad for MS in Business Analytics
We have made a list of top universities abroad to pursue MS in business analytics while drawing a comparison between Business Analytics vs Data Science.
- Massachusetts Institute of Technology
- Imperial College London
- The University of Texas at Austin
- Georgia Institute of Technology
- Stanford University
- University of Pennsylvania
- New York University
- University of Chicago
- Arizona State University
- University of California, Berkeley
Must Read: MS In Business Analytics In USA
Difference Between Data Science and Business Analytics
Tabulated below are the differences between Business Analytics vs Data Science for your reference.
|Data Science||Business Analytics|
|Data science is defined as the science of data using statistics, algorithms along with different techniques.||Business analytics on the other hand is a statistical study of business data using different types of methods, techniques and algorithms.|
|Data science is a multidisciplinary field which uses scientific systems and techniques in order to determine the source of the information and what that information means.||Business analysts work on solving specific questions by seeking out business analytics insights.|
|It involves the use of structured data as well as unstructured data.||Business analytics on the other hand uses only structured data.|
|High level coding skills are required in the field of data science along with a good amount of knowledge regarding computer applications and the concepts of traditional analytics.||The field is more statistics oriented and hence doesn’t require much coding skills. However, minimal coding skills are still necessary in the field.|
|It cannot be used for day-to-day decision making of the business organization.||It is important for management in order to make important business decisions.|
|It answers general questions in nature.||Business analytics answers specific business questions.|
We hope that you got all the necessary information regarding the differences and similarities in Business Analytics vs Data Science. Wondering which course is best for you? Get in touch with Leverage Edu experts and get complete guidance regarding an appropriate course from your dream university. Sign up for a free session with us now!