Business analytics is the process of transforming raw data into actionable insights that help organizations analyze their performance, identify challenges and make strategic decisions. With a growing amount of data available, the demand for professionals who can use data and economic insights to assess and manage risks is higher than ever.
Earning an online degree in business analytics, like the online Bachelor of Science in Business Administration (BSBA) in Business Analytics and Economics program from Youngstown State University (YSU), opens the door to this high-demand field by equipping students with the technical, analytical and economic skills needed to turn data into actionable insights. Read on to explore the skill-building and career opportunities the program offers to make an informed decision about your future.
What Is Business Analytics?
Business analytics involves using data, statistics and technology to identify trends, solve problems and make data-driven decisions. By collecting, interpreting and analyzing data, professionals can help organizations enhance their performance, optimize operations, and use risk analysis to evaluate potential challenges and opportunities.
Almost all major organizations rely on business analytics to improve decision-making, anticipate trends and stand out in the market. Examples of business analytics in action include the following:
- Insurance companies use analytics to determine the best coverage and pricing for policies.
- Streaming services examine customer viewing history to provide tailored recommendations that increase engagement.
- Financial institutions analyze large amounts of transaction data to spot fraudulent activity.
What You’ll Learn in a Business Analytics Program
Business analytics programs equip students with the skills and expertise to turn data into actionable insights that influence decision-making throughout an organization. The curriculum combines core business fundamentals, technical tools and specialized analytics courses, providing students with a well-rounded understanding of how businesses apply data-driven strategies in everyday scenarios. For example, YSU’s program offers the following concentration and core courses, among others:
- Predictive Analytics
- Business Analytics of Economic Issues
- Money and Banking
- Business Finance
- Data Visualization with Tableau
Students at Youngstown State University can tailor their program by selecting elective and specialized courses that align with their career goals. By the end of the program, graduates are prepared for advanced roles where they analyze complex data sets, utilize software programs like Tableau and SPSS, and make strategic decisions that drive organizational success.
What Skills Will You Gain in a Business Analytics Program?
Business analytics programs develop both technical and soft skills, preparing students to become successful data-driven decision-makers in various industries, including finance, healthcare, retail and technology. Graduates complete the YSU program equipped with skills in:
- Data analysis and modeling: Students learn how to interpret and apply data to identify patterns, predict risks and solve complex business problems.
- Business Intelligence (BI) tools: Students gain proficiency in tools such as Tableau and SPSS, which allow them to gather, track and analyze business data.
- Data visualization: Using charts, graphs and dashboards, students learn how to present and communicate data clearly across departments.
- Communication: Developing strong written and verbal communication skills allows students to communicate their findings and provide recommendations to cross-functional teams.
- Problem-solving and decision-making: Students learn how to use data to identify the root cause of business challenges and make decisions that influence organizational success.
What Can You Do With a Degree in Business Analytics?
A degree in business analytics opens the door to a wide range of career paths in sectors such as finance, e-commerce, retail and healthcare. Graduates commonly enter roles as:
- Data scientists: By collecting, cleaning and analyzing data, these professionals help businesses uncover patterns, make predictions and guide informed decisions.
- Business intelligence analysts: These professionals collect, analyze and interpret data to make tailored recommendations that boost the efficiency, profits and performance of a company.
- Financial analysts: Utilizing data from economic trends and performance metrics, financial analysts advise businesses on the best use of their resources.
- Economic consultants: These professionals assist organizations in making data-driven decisions in areas such as litigation, strategy and policy development.
- Market research analysts: These analysts help businesses understand consumer preferences and trends to help shape their marketing strategies.
With more data available than ever before, companies are searching for professionals who can transform that data into actionable insights. Graduates who enter the high-demand field of business analytics often benefit from competitive salaries and long-term job stability. For example, the median annual wage for data scientists is $112,590, with the top 10% earning more than $194,410 annually.
Inside YSU’s Online Business Analytics and Economics Degree
Youngstown State University’s online BSBA degree in business analytics and economics offers students a flexible pathway to advance their education without sacrificing their personal and professional commitments. Through fully virtual platforms, students learn the use of software for data analysis and apply their insight to solve real-world business challenges.
This undergraduate program combines core business fundamentals with specialized analysis and economics coursework, preparing students for a broad range of career opportunities in industries such as finance, technology, retail and healthcare. Upon graduation, they’ll have the skills, expertise and confidence to pursue data-driven decision-making roles across sectors or continue their education with a Master of Business Administration (MBA) or Master of Science in Business Analytics degree.
Launch Your Career in Business Analytics With YSU
Business analytics professionals play a vital role in driving organizational success, utilizing data-driven insights to analyze risks, identify opportunities and make decisions that foster growth and efficiency. The online BSBA in Business Analytics and Economics degree at YSU gives students the skills and expertise to enter this in-demand field and make an impactful difference across organizations.
You can read more about the admission process or apply o this program today. With experienced faculty and accelerated course options, YSU’s online BSBA in Business Analytics and Economics program brings students one step closer to becoming data-driven business professionals.
