Businesses from global conglomerates to entrepreneurial start-ups rely on data for everything from anticipating market trends to managing human resources. As the reliance on data grows ever more critical, demand is increasing for professionals who can collect, organize and analyze data. Employers need professionals who can model data to drive decision-making and use it to shape communications with customers, investors and partners.
“Because the demand is so strong, and the supply of people who can truly do this job well is so limited, data analysts command huge salaries and excellent perks, even at the entry level,” according to Investopedia.
Businesses that collect, organize and interpret data generated by processes and systems across the enterprise are finding competitive advantages through three types of analytics:
- Descriptive: Analyze historical data to identify trends
- Predictive: Use data to forecast future opportunities
- Prescriptive: Create data-based models of various scenarios, test them and determine outcomes
“A lot of people can crunch numbers, but I think they’ll be in very limited positions unless they can help interpret those analyses in the context in which the business is competing,” says Harvard Business School Professor Janice Hammond.
What Are Career Opportunities for Data Analytics Professionals?
Data professionals who capitalize on the demand for positions in analytics find that online Master of Science in Information Systems degrees are a competitive advantage.
An advanced degree in information systems with a concentration in business analytics, such as the one offered by Murray State University, prepares graduates for careers in roles such as:
- Computer Systems Analysts: Design and implement automated information systems that bridge the gap between an organization’s information technology and non-IT units. (Median salary: $93,730; job growth outlook 7% between 2020 and 2030)
- Computer Network Architects: Organize, structure and label data to help users find information to meet their business objectives. (Median salary: $116,780; job growth outlook 5%)
- Database Administrator: Manage, store, organize and ensure the security of data such as financial information, sales and shipping records. (Median salary: $98,860; job growth outlook 8%)
- Data Scientist/Analysts: Interpret data for business units by segmenting data sets and creating organized categories used as metrics to evaluate company processes and make predictions and proposals. (Mean annual salary: $103,930)
- Computer and Information Systems Managers: Plan, coordinate and lead information-systems activities — from computer networks to telecommunications systems — across the enterprise, ensuring they effectively communicate with one another to meet business units’ demands for complete, coherent and actionable data. (Median salary: $151,150; job growth 11%)
What Coursework Is Covered by a MSIS Degree Program?
The Murray State online MSIS program, which is accredited by The Association to Advance Collegiate Schools of Business (AACSB), focuses on data sourcing, data organization, data management, data-driven decision-making and statistical modeling using modern business analytics tools. Expert faculty lead a hands-on approach to analytics mastery, using tools such as R, Python, IBM SPSS Data Modeler, SAP Predictive Analytics, SQL Server Reporting Services (SSRS) and SQL Server Integration Services (SSIS).
An advanced degree in information systems with a focus on business analytics can equip professionals to enter a variety of business and technology fields with useful and sought-after skills.