The world now runs on big data, and the economy is based almost solely on information. Coming to grips with this and truly grasping its meaning require the skills and expertize of trained professionals. When you complete a Business Intelligence (BI) MBA, you will learn how to analyze big data and information, gaining important insights that enable you to make decisions critical to the operation of a business.
With the BI MBA, you will become a true leader, with an entrepreneurial, savvy spirit that understands the perspectives offered by data. You will be able to spot patterns, understand what they mean, and see the correlation between available information and measurable results. To achieve this, you will also have an in-depth understanding of the technology required to get from big data to true analysis, while at the same time learning how certain pieces of information and data relate to specific challenges within business.
Why Earn a Business Intelligence MBA?
Big data is the concept of all the information that is sent between organizations, people, and departments. This raw data is so huge and complex that experts who understand where to collect it, how to read it, how to analyze it, how to present it, and how to use it, are in high demand. Interestingly, big data is growing faster than universities can train specialists to understand it. In fact, the McKingsey Global Institute has reported that, by 2020, there will be a need for 1.5 million BI managers and 190,000 big data analysts.
What this means is that when you graduate from a Business Intelligence MBA, you will be able to work in any organization, in any sector, anywhere in the world. And, because you will be in such high demand, the offers presented to you in return for your skills, in terms of salary, bonuses, and other perks, would be very interesting as well.
Each school has its own set of admission requirements when it comes to the Business Intelligence MBA program, but those required by Arizona Eller are commonly seen in schools. They are:
• GMAT/GRE scores
• TOEFL/IELTS or other proof of English proficiency for non-native English speakers
• Two professional letters of recommendation
• An undergraduate degree from an accredited institution
• Proof of identification
Curriculum and Courses
Each school sets its own admission requirements, as well as its own curriculum, so long as you choose an accredited institution. With an accredited program, you will know that you will meet certain educational standards. The curriculum offered by University of New Haven is a good example of what you can expect:
• Financial accounting for managers
• Macroeconomics and microeconomics
• Financial management
• Probability and statistics
• Management process
• Managerial accounting
• Managing in global markets
• Finance strategy and valuation
• Management of human resources
• Business and society
• Strategic management
• Elective courses focusing on business intelligence and big data
Career Outcomes and Job Titles
Because big data is becoming increasingly present in more and more industries, there is also an increased need for those who can properly understand it. At the same time, it is a new field of work, which means job titles have not yet been clearly defined. That said, some of the titles you may come across include:
• Business analyst
• Big data analyst
• Data scientist
• Financial analyst
• Marketing analyst
• Quantitative theorist
• Marketing analyst
• BI database administrator
• Data architect
• Database warehouse administrator
• Database developer
• Database warehouse software engineer
• Business intelligence analyst
• Program manager
• Marketing manager
• Business systems analyst
What is of particular interest is that these roles can be found in any industry. People with a Business Intelligence MBA are found anywhere, from Amazon to IBM, from the military to small startup companies, from the food industry to education, and from Boeing to NGOs. One of the things that make them so attractive to employers is that these graduates are not trained to be a specific type of manager. Rather, they are trained to understand how the current world of big data is developing and how that can be applied to improve business processes. These theories and strategies are the same across all industries in the world.
Job Salary & Outlook
The U.S. Bureau of Labor Statistics (BLS) has reported that management analysts earned an average annual salary of $81,320 per year as of May 2015 at the bachelor’s degree level. Statistics has shown that obtaining an MBA can increase an annual salary by around $15,000 per year, which means that you can expect to earn around $100,000 per year with this degree. The BLS also reports that there will be a 14% increase in demand for management analysts by 2024, which is much faster than average.
Scholarships and Grants
• Capella University, which currently sponsors the MBA – Create Your Future Scholarship to a value of $4,680. Being sponsored by Capella University, the scholarship is not based on financial need and does not have to be paid back.
• Nova Southeastern University offers the Graduate Business Student Tuition Award to students enrolled at the Huizenga College of Business and who demonstrate vision, leadership ability, and academic strength. The scholarship is to the value of $6,240.
• The Marc Beaumont Scholarship Fund, which offers an award of $2,500 to those who complete a business study and who express an interest in combining that degree with the arts and entertainment industry. In this industry, there is a significant demand for those who have skills in business intelligence.
• The Cappex Business Majors Scholarship, which is an award of $1,000 for those studying towards a business major at an accredited school. Of particular interest is the fact that Cappex is better known for enabling students to find scholarships, rather than offering them themselves.
• The NSHMBA Foundation Scholarship Program, which is a scaling award ranging from $2,500 to $10,000 depending on the student’s need. You must be enrolled in an accredited MBA program in order to be eligible.