In the era of big data, businesses worldwide recognise the importance of using data to drive decision-making and strategy.
A master’s in business analytics and big data has emerged as a powerful credential, providing professionals with the skills and knowledge needed to understand the complexities of the digital age. This advanced degree opens the door to a range of exciting and lucrative career options spanning various industries and sectors.
Explore the diverse career paths for individuals with an MSc in business analytics and big data, shedding light on the roles, responsibilities, and opportunities each path offers. If you want to study a data science or business analytics course in the UK, arrange your free consultation with our friendly team, who can explain all your study options.
Top Career Paths After a Master’s in Business Analytics & Big Data
1. Machine Learning Engineer
Machine learning engineers stand at the forefront of technological innovation, cooperating with data science teams to develop algorithms that power data-driven products and services. This role is pivotal in groundbreaking technologies like self-driving cars and personalised social media feeds. Their high salary range reflects the specialised nature of the role, attracting professionals from mathematics, physics, or statistics backgrounds who further enhance their expertise through a specialised Master’s or PhD.
- Average Salary: £88,000
2. Market Research Analyst
Market research analysts compile and evaluate complex data to gather significant market intelligence. This information helps organisations tailor their marketing strategies effectively. Market research analysts need a good working knowledge of statistical software and techniques to monitor and forecast the effectiveness of marketing strategies.
- Average Salary: £50,000
3. Statistician
Statisticians play a key role in organisations across diverse sectors. They compile, analyse, and evaluate quantitative information from surveys and experiments, providing essential insights to help organisations reach operational standards and solve practical problems. A strong foundation in mathematics and statistics, relevant qualifications, and industry experience are essential for success in this field.
- Average Salary: £58,000
4. Data Scientist
The data scientist plays a pivotal role in today's data-driven landscape. Using algorithms, artificial intelligence, machine learning, and statistical tools, data scientists mine complex, raw data from various sources, transforming it into meaningful, transparent information. This information is invaluable for organisations enhancing their business strategy and operations.
- Average Salary: £70,000
5. Chief Technology Officer (CTO)
The executive-level position of Chief Technology Officer demands expert-level knowledge of technological trends and their implementation in building business strategies. CTOs are strategic thinkers, conducting technological analyses to ensure companies stand out in a competitive marketplace. Leadership and organisational skills are crucial as CTOs lead their teams and strategically choose technologies to enhance user experience and operational efficiency.
- Average Salary: £126,000
6. Data Analyst
Inquisitive, highly analytical, and adept with numbers, data analysts are integral to organisations in various sectors. Their role involves gathering and evaluating data to provide clear insights, helping companies improve business strategy and make informed decisions across multiple areas. The demand for skilled data analysts is prevalent in industries ranging from pharmaceuticals to government.
- Average Salary: £48,000
7. Application Architect
Application architects operate in a fast-paced environment, utilising technical vision and analytical skills to provide valuable insights and solutions to software development, use, and maintenance. They are tasked with creating new and improved applications, developing prototypes, running software tests, and creating technical documents. Proven programming language and architecture design skills, relevant qualifications, and industry experience are essential for success in this role.
- Average Salary: £90,000
8. Project Manager
Leveraging their data-driven business acumen, project managers with a master’s in business analytics and big data play a crucial role in planning, budgeting, and overseeing organisational projects. This role requires strong organisational and leadership skills, ensuring successful project completion in sectors ranging from construction and engineering to IT and marketing.
- Average Salary: £58,000
9. Chief Data Officer (CDO)
The Chief Data Officer (CDO) role has gained prominence recently. In 2012, only 12 per cent of Fortune 1000 companies had a CDO; however, within six years, this figure surged to 67.9 per cent, according to Forbes. The CDO is responsible for strategically overseeing an organisation's data and extracting business value from what is often considered the institution’s most valuable asset. Business-focused with excellent IT expertise, CDOs require qualifications in mathematics and statistics, a specialised Master’s, and industry experience.
- Average Salary: £143,000
10. Data Architect
Armed with extensive programming tools, data architects design secure data frameworks crucial for managing large electronic databases within organisations. This highly technical role demands superior analytical skills, attention to detail, and sophisticated design abilities. Data architects ensure data relevance, accuracy, and accessibility, enabling organisations to exploit the power of their information effectively.
- Average Salary: £92,000
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FAQ
What can I become after completing a master's in business analytics?
A master's in business analytics opens up many career opportunities. Graduates can pursue roles such as:
- Data Scientist
- Machine Learning Engineer
- Data Analyst
- Business Intelligence Analyst
- Data Architect
- Statistician
- Chief Data Officer
- Project Manager
These roles span various industries, including technology, finance, healthcare, manufacturing, and consulting.
Which stream is best for business analysts?
Business analysts come from diverse educational backgrounds, and the suitability of a particular stream may depend on individual career goals. However, the streams below are often considered advantageous for aspiring business analysts.
- Business Administration
- Information Technology
- Economics
- Mathematics
- Statistics
- Computer Science
- Engineering
What is the career path for business analytics?
The career path for business analytics often follows a progression from entry-level to advanced roles. Here's a typical career path:
Entry-Level Positions
- Data Analyst
- Business Analyst
- Mid-Level Positions:
Senior Business Analyst
- Data Scientist
- Analytics Manager
- Data Engineer
Advanced Positions
- Chief Data Officer
- Chief Technology Officer
- Director of Analytics
- Senior Data Scientist
Continuous learning and staying updated with industry trends are crucial for career advancement in the rapidly evolving field of business analytics.
Is business analytics an IT job?
While business analytics involves working with data and technology, it is not strictly an IT job in the traditional sense. Business analysts use data to provide insights that inform business strategy and decision-making. While the skills overlap with IT, business analysts often collaborate with various departments, including finance, marketing, and operations, to optimise processes and enhance overall organisational performance.
Is AI part of business analytics?
Artificial Intelligence (AI) is integral to business analytics. AI techniques, including machine learning and deep learning, are employed to analyse large datasets and derive meaningful insights. Business analysts leverage AI tools and algorithms to predict trends, identify patterns, and make data-driven recommendations.
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