The field of data analytics is an essential component of successful businesses, allowing companies to make smarter, smoother and more strategic business decisions.
In a world where data has been hyped by some as the ‘new oil’, experts and analysts are in increasingly high demand. There is an urgent need for people with the skills to interpret and explain robust datasets, allowing businesses to take advantage of the abundance of readily available data.
The field of business analytics is experiencing a significant boom, with companies across the globe requiring analysts with both business acumen and the ability to analyse data in a business context.
Business analysts and project managers are becoming increasingly valuable within organisations, and the current lack of experts means that analytics graduates can expect to earn exceptional salaries. Indeed reports that the average annual salary for data scientists is AUD$114,824 (US$78,126), while business analysts earn AUD$100,343 (US$68,270).
According to BATimes, ‘Organisations are now dependent on business analysts and project managers to guide them through this digital disruption and advise on best practice and emerging technologies.
‘Predictive technologies such as machine learning, artificial intelligence and The Internet of Things can now provide industry trends and data patterns that have the power to significantly impact a business and its operations.’
At the University of Western Australia’s (UWA) Business School, one of Australia’s top-ranked business schools, students receive an exceptional and relevant education in data analytics through the Master of Business Analytics program.
Graduates secure diverse roles, becoming analysts in data, business, market economy, finance, human resources, and business intelligence.
Industry insights and high-tech facilities
Students at the UWA Business School are taught by eminent researchers who guide them in gaining the skills required to operate in the world of business – from an understanding of the economy and the government, to the workings of management structures, leadership, and accounting and financial.
“Our academic staff bring a wealth of experience and knowledge to their teaching,” says Dr Andrew Williams, Director of Education at UWA Business School and course coordinator.
“They are all experts in data analytics within their specific discipline, so you can be certain you’re being taught by leaders in the field.”
Students learn in an engaging environment, with state-of-the-art facilities such as the purpose-built Business School building overlooking the Swan River, and the international award-winning Financial Markets Trading Room, a stock exchange simulator that channels information in real-time from major stock exchanges around the world.
The vibrant UWA community helps students forge lifelong connections through a wide range of clubs and societies, strong alumni engagement, and regular networking opportunities. Students also have access to industry professionals through the Business School’s network of over 30 industry and corporate supporters including EY, Woodside, KPMG, BHP Billiton, and Chevron.
UWA Business School courses are designed in consultation with a board of industry leaders who ensure content remains current and industry-relevant. This industry insight ensures students are prepared for their chosen career when entering the workforce, honing the skills employers are looking for.
Dynamic education in Business Analytics
In the new Master of Business Analytics program, students learn how to understand and integrate large and complex datasets, transforming data into meaningful insights and actions – critical for business success.
There is also the chance to collaborate with other technical experts in computer science, break down data and presenting it in a business context to key decision-makers.
Dr Williams explained that the driving force behind this program was the massive increase in data quantities and its availability over the past few years. “A modern business school graduate needs to have the skills and knowledge to take advantage of this data, both in terms of being able to collect and collate data crucial for an organisation, but also to analyse and explain how this data can be used to benefit that organisation.”
Students learn key skills in modules such as the Fundamentals of Business Analytics, ensuring they establish a solid foundation in the discipline. The Data Storytelling module allows students to develop key communication skills needed to explain data analysis to a wider audience, while the Human Resource Analytics module is a specific example of how data analytics can benefit HR functions in business.
There’s also Big Data in Marketing, which teaches students how to collect and analyse large datasets to help an organisation use evidence-based information.
“Towards the end of the degree, students also get practical experience through a substantial Industry Group Project. Using the skills developed throughout the course, students undertake a project in collaboration with an organisation, solving real-world problems,” says Dr Williams.
The program has been designed with students in mind, so they can tailor it according to their goals. Dr Williams explains, “The units you will take will depend on any previous skills you might have developed during your undergraduate degree. For example, a student with a background in business or commerce might take more specific data analytics courses, while those with a data science background can take courses to develop their understanding of business.
“This is then combined with units that specifically bring these two skillsets together. But whatever your background, the key focus is always on applying data analytics to a broad range of business-related problems. In that sense, it’s a very hands-on, practical course.”
Eager to find your place in an emerging field with endless opportunities? At the UWA Business School, you’ll gain the skills, experience and connections to prepare you for a dynamic career in business analytics. Apply now.