VWB Blog Are you considering a career change and looking for an exciting and growing industry? If so, business analytics may be the perfect fit for you. Business analytics is not only becoming increasingly popular in today’s tech-driven world, but it can also offer enriching career opportunities. This blog post will discuss why business analytics could be the right path for you and how you should make this transition.
What Is Business Analytics and What Skills Are Required in the Field
Business Analytics is the study of analysing data to draw conclusions and inform business decisions. It takes many different types of skills, both technical and analytical, which need to be consistently honed to stay ahead in this ever-changing field. Technical skills include expertise in coding, language proficiency in SQL, Python or other programming languages, as well as experience with data visualisation software.
Analytical capabilities involve being able to rapidly make comparisons between past trends and emerging patterns deposited into a data set. Mentally connecting the dots between different dimensions of data is also crucial for recognising opportunities for growth, expansion and cost savings. This creates precise models to test hypotheses and demystifies relationships that could go unnoticed otherwise.
Having the combination of all these varying abilities serves as an invaluable asset when it comes to working cross-functionally with all departments within a company, leading to booming success in the field.
Where Can I Get an Education in Business Analytics?
Business analytics is an ever-growing field, meaning educational opportunities are similarly expanding. This includes traditional and non-traditional options such as online courses, boot camps, and specialised degree programs.
Online courses such as the RMIT business analytics online course can be a great way to learn business analytics without the need to attend classes if you are already employed. A boot camp or certification program can also provide the necessary training and is often designed to help professionals transition into a business analytics career.
For those looking for more in-depth knowledge, there are plenty of universities across Australia offering degree programs that focus on business analytics. Popular courses include Bachelor of Science in Business Analytics and Master of Science in Business Analytics, but there are other specialized programs available.
Why You Should Consider a Career in Business Analytics
A career in Business Analytics is an exciting opportunity for those interested in combining technology and data with business strategy. Not only is the job outlook for this field growing rapidly, but a career in Business Analytics truly offers something rewarding no matter what kind of experience or expertise you possess.
Not only can it provide meaningful career opportunities and job security, but it also offers the potential to reach high salary levels. According to PayScale, the median salary for business analytics professionals in Australia is $97,819 per year. This figure is higher than the average salary for accounting and finance professionals and IT professionals.
Additionally, business analytics offers the potential to work in various industries, from banking and finance to healthcare and retail. This can immensely benefit those looking to find a job that fits their interests and passions.
What Kind of Jobs Are Available for Those With a Degree in Business Analytics
Business Analytics is a rapidly growing field that provides abundant opportunities for individuals with a degree in the subject. A graduate of this major could obtain employment in any size or kind of business, particularly those seeking experts in big data analysis, market trends, forecasts, optimisation and predictive modelling.
With a skill set covering areas such as statistics, IT literacy, problem solving and communication skills, those with a degree in Business Analytics can find jobs ranging from Financial Analysts to Market Research Analysts to Business Process Consultants.
In addition to these job roles within organisations and corporations, there are many freelance opportunities available due to the increasing demand for analytics from marketing and advertising agencies as well as start-ups.
Conclusion
Business analytics is an up-and-coming field with great potential for success. If you have the right skills and can stay competitive in the quickly advancing world of data analysis, there are plenty of chances to excel in the field. So what are you waiting for? If you’re interested, we recommend you start looking at options and paths for you, as this could be the career that can truly change your trajectory.