MBA in Business Analytics vs MSc in Business Analytics

As organizations harness the power of data to drive strategic decision-making, the pursuit of advanced degrees in business analytics has become a pivotal choice for aspiring professionals. In this blog, we embark on a comprehensive exploration of the two prominent pathways in this field: the Master of Business Administration (MBA) in Business Analytics and the Master of Science (MSc) in Business Analytics. Delving into the nuances of each, we aim to guide prospective students through the decision-making process, helping them chart a course that aligns with their career aspirations and ambitions in the dynamic realm of data analytics.

Read more: How to start a career in business analytics

What is an MBA in business analytics? 

One of the most sought-after MBA specializations is MBA in business analytics. This Business Analytics program lasts two years, and it looks into the data analytics aspect of managing a business. How to use data analytics tools and statistics is covered in this course. Moreover, the program covers management techniques, technical skills, and business principles. 

Hiring managers prefer individuals with business analytical skills, and having an MBA in the field gives one distinct advantage. In addition, lack of skilled business analysts raises the value of this degree. The best part is that you’ll have the chance to gain practical experience while pursuing your degree.

What is MSc in business analytics?

A Master of Science in Business Analytics program combines Data Science, Information Theory, Business Intelligence, and Computer Science. Its primary goal is to transform large amounts of data into actionable intelligence through the use of multiple quantitative and statistical methodologies. 

Simply put, it is concerned with mining data to achieve specific commercial goals. It means that it is primarily concerned with predictive and prescriptive strategies rather than measuring historical performance. As part of their coursework, students learn in-demand coding skills in languages such as SQL, Python, Apache, Hadoop, R, and Spark. They also learn and improve social and communication skills.

Eligibility criteria for MBA in Business Analytics

You must hold an undergraduate degree in the first place if you are willing to pursue MBA in Business Analytics. Moreover, most universities require candidates to have a work experience of at least two years before applying for the program. 

An applicant interested in applying for an MBA in Business Analytics should have a knack for technology, a sense of strategy, and an analytical mindset. A person who enjoys making decisions and taking the initiative is also a good match for this program.

Eligibility criteria for MSc in Business Analytics

The guidelines for an MSc. in Business Analytics degree vary from school to school. Hence it is best to confirm the admission criteria for the programs you’re interested in beforehand. In addition, here are some common documents one needs to have for MSc. business analytics programs. 

• An undergraduate degree from a regionally approved institution or university (for domestic students) or a bachelor’s degree equal to that of the United States (international students).
• GMAT or GRE test scores. 
• IELTS/TOEFL score (this acts as evidence of the English proficiency criterion for overseas applicants). 
• Statement of Purpose. 
• Letter of Recommendation. 
• Filled Application form (provided by the program).

Read more:  Why you should choose an MSc in Business Analytics

MBA in Business Analytics curriculum 

The MBA in business analytics syllabus includes the following subjects –

Semester 1

• Managing People & Organizations
• Financial Reporting & Statement Analysis
• Managerial Economics
• Business Statistics
• Business Communication

Semester 2

• Financial Management
• Marketing Management
• Strategic Management
• IT for Business
• Business Leadership
• Research Methodology

Semester 3

• Management Accounting
• Legal Aspects of Business
• Big Data Analytics
• Analytics using R and Python
• Digital and Web Analytics
• Minor Project

Semester 4

• Entrepreneurship and Innovation*
• Sustainability
• Financial Analytics
• Marketing Analytics
• HR Analytics
• Capstone Project

MSc in Business Analytics curriculum

The MSc in business analytics syllabus includes the following subjects: 

Semester 1

• Financial Reporting & Statement Analysis
• Business Statistics
• Managerial Economics
• Programming with R & Python
• Database Management

Semester 2

• Business Econometrics
• Financial Management
• Applied Multivariate Data Analysis
• Data Visualization
• Design and Analysis of Experiments
• Mini Project

Semester 3

• Time Series Analysis
• Machine Learning Methods
• Deep Learning and Text Mining
• Project Management
• Big Data Analytics

Semester 4

• Elective (Marketing): Marketing Analytics, Digital and Web Analytics
• Elective (Finance): Financial Assets Valuation, Financial Analytics
• Capstone Project

Careers after MBA in Business Analytics

Pursuing a master’s in business analytics in India can help you explore  a wide range of career options to choose from, and some of them include: 

• Business analyst

Business analysts support data-driven decisions that maximize a company’s effectiveness. They implement alterations to businesses and corporations by using data to generate business insights. They can find problems in practically any part of an organization, including IT procedures, organizational structures, or workforce development

• Data analyst

Data analysts seek solutions to customer-related issues by analyzing large data sets. Additionally, a data analyst informs the administration and other parties of this information. These people are employed, throughout a wide range of sectors, with the expertise and abilities to transform raw data into useful information to make business choices.

• Operations analysts

Operations analysts are the professionals that study rules and processes, analyze data and produce reports with recommendations to enhance how a firm runs. The task of an operations analyst is to locate and resolve problems that affect how well business operations perform.

• Predictive modeler

A predictive modeler creates meaning and order from enormous datasets’ disarray. The work of a modeler to yield objective data that contains recognized patterns. Handling data as it is found, cleaning it up, and organizing it to fit the job at hand are all part of the work.

• Marketing analyst

A marketing analyst is a specialist who examines data to aid a business’s marketing initiatives. The marketing analyst may use the information they unearth to assist a corporation in making better business choices, such as boosting sales or improving marketing initiatives.

• Supply chain analyst

A supply chain analyst tracks the efficiency of the supply chain, spots threats and trends, and makes suggestions for risk-reduction strategies. They are crucial for the design and execution of major projects. To enhance the supply chain system, a supply chain analyst gathers data and then analyzes it. They try to encourage excellent work from employees and drive down the price of materials utilized in projects.

Read more: Why is an MBA in business analytics a great career option?

Careers after MSc in Business Analytics

Once you complete your MSc. in business analytics, you can choose from a variety of career options, including:

• Data scientist

Data is all around us, and it will only grow as we progress toward a digitally driven future. As a result, a career as a data scientist is ideal. A data scientist is a computer expert who can collect, analyze, and handle vast amounts of structured and unstructured data.

• Data analyst

In today’s world, another demanding career option is a data analyst. A data analyst collects, processes, and analyzes huge datasets statistically. They learn how to use data to answer questions and solve issues.

• Business intelligence analyst

It is one of the most in-demand job options today. A business intelligence analyst analyzes data to provide financial and market intelligence reports. These analyses are used to highlight market behaviors and trends that may have an impact on a company’s operations and future goals.

• Statistician

Statistics careers are frequently well-paying, with high levels of job engagement and a healthy work-life balance. A statistician is a business practitioner who uses statistics to address real-world business challenges.

• Consultant

Being a business analyst is an excellent career choice since it allows for life-long learning and challenges to bring solutions to business problems.

Read more- Career options after MSc in Business Analytics

MBA or MSc in business analytics: What’s best for you?

When it comes to choosing any degree program, there is nothing like right or wrong. Both programs are designed to help you enhance your career in different ways. 

MBA in Business Analytics	MSc.  in Business Analytics
If you’re willing to strengthen your business skills, go for an MBA.	If you’re looking forward to becoming a specialist in Business Analytics, nothing is better than an MSc.
An MBA helps you develop general management skills, along with some knowledge in data analytics.	An MSc goes in-depth into data analytics.

So whether you choose an MBA or an MSc. in business analytics, it depends on your skill set and professional goals. . 

Explore your career with Online Manipal

There is no denying that the number of students aspiring to excel in business analytics is huge, making MBA and MSc. the two most desirable masters degrees. But, while taking admission in the course, it is important to make sure that you are choosing the right institution for it. You can’t just select any educational institution and risk your career, right? 

If you are looking for an institute that will help you hone your business analytics skills, then you can opt for either an MBA with a specialization in business analytics or an MSc in business analytics by Manipal Academy of Higher Education (MAHE) available on the Online Manipal platform. MAHE is NAAC A++ accredited and with the help of experienced faculty, you can flourish in your career. 

Final Thoughts 

Overall, an MBA and an MSc will be quite effective in business analytics. While it is usually debated which degree is preferable, many businesses are more likely to appreciate your skills rather than the degree.

Other related articles- 

6 reasons why a master’s degree in business analytics is worth it

How can a master’s in business analytics land you a job in MNCs?

Business analytics course guide