Despite the fact that the market for business analytics is expanding and is anticipated to reach USD 103.65 billion by 2026, enrolling in any BA program is not the best option. There are a lot of courses that pave the way for a fruitful career such as MBA and Business Analytics. However, many students confuse MBA in Business Analytics be a similar degree. But this is not true, MBA and business analytics are different courses with a similar intent. Read on to know more about MBA vs Business Analytics.
This Blog Includes:
- MBA vs Business Analytics Difference Chart
- MBA vs Business Analytics: Program Overview
- MBA vs Business Analytics: Syllabus
- MBA vs Business Analytics: Work Experience
- MBA vs Business Analytics: Skills Required
- MBA vs Business Analytics: Top Universities
- MBA vs Business Analytics Career Scope
- Which Course Should You Opt for?
MBA vs Business Analytics Difference Chart
|Duration||1.2 years or more||12-18 months|
|Syllabus||The syllabus includes study in quantitative analysis, analytical tools, stakeholders, relationships, operations communications, etc.||Syllabus includes statistics, data mining, data management, machine learning, artificial intelligence, laws and ethics in business analytics, etc.|
|Cost of Studying||Fees range between USD 27,000 to 98,574 per year||Fees range between USD 148 and to 46,380 per year|
|Average Salary||The salary offered to MBA graduates is between USD 84,000 per year||The salary offered to business analytics graduates is between USD 75,000 per year|
|Work Experience||Required 3 years of bachelor’s degree, and 3-5 years of experience.||Bachelor’s degree from an accredited institution and a work experience of more than 2 years.|
MBA vs Business Analytics: Program Overview
The business Analytics course focuses on developing a knowledge of a company’s performance and providing new insights through statistical analysis, predictive modelling, and other techniques. Business analytics is a new subject transforming how companies think about their performances and look for new prospects. It is a program that assists in developing statistical analysis and information mining skills, which aid in creating fresh insights.
On the other hand, a Master of Business Administration (MBA) degree is oriented toward researching and studying scientific management approaches. An MBA is just a graduate-level degree program that normally lasts one to two years. An MBA is primarily pursued in the United States by persons interested in the commercial sector, require a master’s degree, and have the financial resources to attend such a costly institution.
MBA vs Business Analytics: Syllabus
The topics in Business Analytics are primarily technical in nature, with a focus on improving your domain expertise in Python/SAS/SQL/Hadoop/R, among other things. In contrast to Data Analytics, Business Analytics comprises a portion of coding. MBA programs allow you to specialize in finance, marketing, human resource management, public relations, etc. These electives are also available as options in executive MBA programs. Simply said, Company Analytics is more focused on deriving data analysis and acting on it, whereas MBA is more focused on business planning, expansion, and management improvement.
MBA vs Business Analytics: Work Experience
This is a fundamental distinguishing criterion between MBA and Business Analytics. When applying for an MBA program, whether full-time or part-time, executive and professional, you must have five to seven years of work experience. Job experience is not required for Business Analytics. Many firms nowadays are looking to analytics to obtain a competitive advantage. Companies can quantify their workplace success by analyzing data and determining when their employees have a major influence.
MBA vs Business Analytics: Skills Required
Each of these regions has its own set of talents. Business analytics is a discipline of business that employs information and statistical research to solve business problems. Business Analytics will teach you analytical skills such as process design and implementation testing, data review, personal finance and forecasts, gap analysis, both qualitative and quantitative analysis, and technology integration and validation. You will also be able to improve your communication, critical reasoning, negotiation, and problem-solving abilities.
MBA graduates can anticipate improving their general skill set, which includes leadership, teamwork, adaptation to change, global perspective, time management, and program management, as well as problem-solving, strategic planning, and communication abilities. Furthermore, depending on the elective, you will be introduced to a diverse set of capabilities such as consulting/strategic planning, making business judgments, and a willingness to solve complicated business challenges in new and inventive ways. In Marketing, you will learn quantitative/research skills as well as essential marketing principles.
MBA vs Business Analytics: Top Universities
Here are the best universities for MBA and Business Analytics abroad:
- University of Pittsburg, USA
- University of South Australia, Adelaide
- University of North Texas US
- University of Aberdeen, UK
- London Business School, UK
- University of Cambridge, UK
- University of Oxford, UK
- Imperial College Business School, UK
- Imperial College London
- Columbia University, US
- Massachusetts Insititute of Technology, US
- University of Washington, US
- UCLA, US
MBA vs Business Analytics Career Scope
A degree in MBA offers you a larger perspective to choose from many possibilities as well as work chances. A degree in MBA equips you with more chances and a brighter future. If you have an MBA, you will be able to work in a variety of areas such as consulting firms, finance, marketing, and others. While it is simple to pursue your passion, it is not always simple to obtain work in your industry. Finding the perfect one requires time, energy, and work. Business Analytics students could only search for employment in their profession. As a result, has a narrow scope. Furthermore, MBA graduates are expected to be paid an exceptional salary upon completion of the course.
Graduates can still anticipate well-compensated salaries, despite the fact that their earning potential is lower than that of MBA graduates.
Which Course Should You Opt for?
After reviewing both courses, the difference between the two programs should be evident. You can also choose a program based on your needs and future professional opportunities. In short, if you want to be a businessman or CEO, an MBA is the way to go. There is a great deal of pressure on new startup entrepreneurs to guarantee their firms succeed. With an MBA as a guide, these young businesses can become effective and educated in any industry, develop leadership abilities, and stay ahead of their competition. In addition, if you perceive yourself as just an influencer or decision-maker, an MBA degree will help you. Those interested in a career in analytics (Big Data\, Marketing, HR, etc.) can pursue an MS in Business Analytics. Aside from that, one of the most important factors to consider is your financial capacity, or how much money you have to put into a course. According to the table above, MBA degrees are normally on the pricey side, and if you want to attend top B-schools, the fees can burn a hole in your purse. However, there are a variety of funding sources accessible, such as college loans, grants, and scholarships. You may not need to invest much in an MS course because the tuition fee is low.
If your primary area of interest is learning theoretical business practices through data-driven decision-making, an MBA in business analytics is an excellent choice to launch your career in business analytics.
When compared to MS in business analytics courses, MBA graduates can anticipate exceptional salary growth after completion of the course. Therefore, the MBA over the master’s degree in business analytics or the MBA in business analytics is the better option if you want a more comprehensive package.
The United Kingdom, the United States, Canada, Singapore, France, and Germany are the best countries to get an MBA.
Hope this blog has cleared your confusion over the debate of MBA vs Business Analytics. If you are still confused about opting MBA or degree in business analytics then you can consult Leverage Edu experts for a counselling sessions.