Masters in Business Analytics - With the international boom in data production, nearing a range of exabytes per day, the need of data analysis and segregation of useful information from the multitude of raw data is essential in each and every industry. This has led to an increment in the requirement of professional data analysts and masters in data analytics graduates. This in turn is the reason why a masters in data science is one of the most sought after qualifications in computer science and information technology. But a data analyst isn’t always mentally and professionally equipped to deal with real-world problems which may arise in a business establishment. In order to solve problems and provide practical solutions associated with data in a real-world business environment, the demand for business analysts worldwide has grown tremendously. This has been reflected in the professional market worldwide with the high masters in business analytics salary, and the large market for masters in analytics jobs. 

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Masters in Business Analytics: What, Where and How

Contrary to popular belief, MS in business analytics isn’t the same as a masters in data analytics. Instead, business analysts implement the techniques and tools of data analytics into real world situations. A masters in analytics is therefore, not simply an umbrella-term to encompass both qualifications, but instead is an alternate name for a masters in business analytics or an MS in business analytics. This qualification inculcates data analytics tools and technologies such as SAS, Python, R and Tableau into a business environment, allowing professionals to derive solutions and combat real-world problems which may arise in any business establishment. Naturally, a prospective masters in analytics student is expected to have a strong background in mathematics (especially statistics) as well as a high quantitative aptitude. 

Eligibility for Masters in Analytics

In order to be eligible for a masters in data analytics or a masters in business analytics program, applicants are required to meet certain eligibility requirements. These requirements are generally similar for most universities which offer MS in business analytics programs. 

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Applicants are required to have completed a four-year undergraduate qualification in certain areas of study which are associated with business analytics in order to ensure that they are suited to the course as well as subsequent masters in analytics jobs. The undergraduate degree should be in any of the following areas of study:

  • Engineering

  • Economics

  • Computer Science

  • Mathematics

  • Finance

  • Management

  • Operations Research

  • Statistics

  • Physics

Some universities also accept applicants with a three-year bachelor’s qualification. In some  cases, students from different academic backgrounds are also admitted to the masters in analytics program if he or she displays proficiency in mathematics, statistics and digital tools associated with data analysis. 

Admission Requirements for Masters in Analytics

For admission to some of the top programs in the masters in business analytics rankings, there are a number of admission requirements which need to be fulfilled along with the application form. This includes the documents to be submitted along with the online application for the prospective masters in analytics program such as:

  • A statement of purpose or personal statement.

  • Letters of recommendation (LORs)

  • Additionally essays/answers

  • GMAT tests scores

  • GRE General test scores

  • English language proficiency test scores; scores from the IELTS Academic or TOEFL iBT are preferred.

  • A professional resume

  • Official transcripts from undergraduate education.

  • Video essay(s)

Apart from the documents required, candidates need to submit a completely filled application form along with the requisite application fee.

Generally, for most masters in analytics programs, applicants are required to appear for an interview, whether in person or online, prior to admission confirmation.


Top Universities for Masters in Analytics

Many of the leading universities for a masters in analytics or MS in business analytics are home to the best B-schools in the world as the business analytics qualification is inherently associated with both computer science and information systems as well as business. The top B-school for a masters in analytics in USA is MIT’s Sloan School of Business. According to QS’s masters in business analytics rankings, the top B-schools in the world for a masters in analytics are given below.

Top Universities for Masters in Business Analytics

B-School

University 

Country

QS World Rank

Business Masters

University

Sloan

Massachusetts Institute of Technology

United States

1

1

Imperial College Business School

Imperial College London

United Kingdom

2

8

McCombs

The University of Texas (Austin)

United States

3

63

ESSEC Business School

ESSEC/Centrale Supelec

France

4

177

ESADE Business School

ESADE Ramon Llull University

Spain

5

-

Marshall

University of Southern California

United States

6

115

Alliance

The University of Manchester

United Kingdom

7

29

Warwick 

The University of Warwick

United Kingdom

8

54

University of Edinburgh Business School

The University of Edinburgh

United Kingdom

9

23

Carlson

University of Minnesota

United States

10

156

Krannert

Purdue University

United States

12

100

Smurfit

University College Dublin

Ireland

13

193

IIM Calcutta

IIM Calcutta

India

14

-

NUS Business School

National University of Singapore

Singapore

14

11

Melbourne Business School

The University of Melbourne

Australia

16

39

A few of the best masters in analytics programs at some of the top universities in the world and associated program details along with requirements are given below.

Masters in Business Analytics at Massachusetts Institute of Technology 

MIT’s Master of Business Analytics program has the highest masters in business analytics ranking in the USA and is a highly competitive program for individuals who are seeking to build a career as analysts in some of the most sought-after establishments in the world. With an exceptionally high masters in business analytics salary as well as job roles, the return-of-investment of this one-year program is commendable, making the program an ideal choice for highly ambitious students seeking to build a career in business analytics. 

Masters in Business Analytics Program Details

Item

Details

Annual Tuition Fee

USD $77,350

Program duration (full-time)

1 year

Average GPA (on a 4.0 scale)

3.9

Average GRE Quant score

168

Average work experience

21 months

English language proficiency test scores

TOEFL iBT

90

IELTS Academic

7.0

For students looking for ways to fund their masters in business analytics program at MIT, there are a number of teaching assistantship positions available for academically meritorious students. Additionally, need-based student funding is available upon admission to the program. 

Masters in Business Analytics at Carnegie Mellon University

The MS in business analytics program offered by Carnegie Mellon University is an MBA program with a focus in the domain of business analytics. This MBA program inculcates the science and technology of a data analytics program into the professionalism and practicality of a business masters and is one of the best programs for masters in analytics in USA. This program opens up a whole new domain of masters in analytics jobs for prospective graduates with a high masters in business analytics salary as well as role profile. Additionally, Carnegie Mellon University offers a masters in analytics online which is an MS in Business Analytics program. 

Additional admission requirements: Unlike most other masters in business analytics programs, the program offered by Carnegie Mellon is an MBA program with a business analytics track, therefore a number of MBA essays are required. There are three options for a the required essay which is to be submitted. Additionally, applicants can submit an ‘optional’ essay to further share any details which they would like to bring to the attention of the admissions committee. 

Masters in Business Analytics Program Details

Item

Details

Annual Tuition Fee

USD $66,000

Program duration (full-time)

2 years

Average GPA (on a 4.0 scale)

3.4

Average GMAT score

690

Average work experience

4.6 years

English language proficiency test scores

TOEFL iBT

Reading: 22

Listening: 22

Speaking: 18

Writing: 22

For prospective students for the masters in analytics program at Carnegie Mellon, a few funding options include:

  • Women in Technology Fellowship

  • Tepper MBA Scholarship

Masters in Business Analytics at National University of Singapore

National University of Singapore offers a masters in analytics program in business analytics which is ideal for recent graduates who want to gain knowledge of the crucial tools and techniques to be a successful analyst. The Master of Science in Business Analytics (MSBA) program implements pedagogical methods which inculcate data analytics into a business framework. 

Additional admission requirements: Instead of an SOP or a single personal statement, admission to this masters in business analytics program requires students to submit video responses to three questions as ‘personal statements’. These questions are associated with the applicant’s career goals as well as past experiences. 

The program is a fully self-funded program and no scholarships or financial assistance is offered for the same. Additionally, there is no application fee for prospective applicants to MS in business analytics program!

Masters in Business Analytics Program Details

Item

Details

Total Tuition Fee

SD $51,360

Program duration (full-time)

1 year

Average GPA 

Not specified

Average GMAT score

Not specified

Average work experience

49.7 months

English language proficiency test scores

TOEFL iBT

85

IELTS Academic

6.0

Masters in Business Analytics at University of Toronto 

The masters in analytics program offered by the University of Toronto’s Rotman School of Business is a highly practical postgraduate program. The Master of Management Analytics or MMA qualification offered is an ideal amalgamation of business and data analytics required for individuals veering into managerial job roles and similar masters in analytics jobs. The nine-month program focuses on techniques and tools required for prospective analysts and subsequently ventures into the practical application of the same to real-world management situations. The University of Toronto also offers a certification program in Management of Enterprise Data Analytics. 

Masters in Business Analytics Program Details

Item

Details

Total Tuition Fee

CAD $63,000

Program duration (full-time)

9 months

Average GPA (on a 4.0 scale)

3.6

Average GMAT score

Not specified

Work experience required

1-4 years

English language proficiency test scores

TOEFL iBT

100

IELTS Academic

7.0

Masters in Business Analytics at Imperial College London

The Master in Science or MS in Business Analytics is a comprehensive masters in analytics program offered by Imperial College London. This one-year postgraduate program provides students with the right balance between business and technical courses which is required in order to succeed in the modern-day professional world. In order to elevate the students’ immersion into the program, a number of pre-course modules are also required which enhance the student’s understanding of what aspects of analytics are to be focused upon throughout the duration of the course. 

Additional admission requirements: Apart from the requisite personal statement, an additional requirement for this masters in business analytics program is a career planning statement along with a quantitative experience statement. 

Masters in Business Analytics Program Details

Item

Details

Total Tuition Fee

£28,300

Program duration (full-time)

1 year

Undergraduate degree requirement

First or upper second class honors degree

Average GMAT score

650

Work experience required

No minimum requirement

English language proficiency test scores

TOEFL iBT

100

IELTS Academic

7.0

Some scholarship options for prospective MS in Business Analytics students at Imperial College London include:

  • Imperial Business Scholarship

  • Technology and Innovation Scholarship

  • Imperial College Scholarship

Masters in Analytics at The University of Melbourne

The University of Melbourne offers two programs for a masters in business analytics. The first is the Master of Business Analytics qualification which focuses on the technical tools and methodologies implemented in analyzing and devising business strategies and action plans. The second program offered is the Master of Analytics Management qualification which is ideal for prospective professionals in managerial roles associated with the overall management and inference of the large amounts of data and data strategists associated with any establishment. A GMAT or GRE score is not a prerequisite for admission although it is highly recommended to submit a score in order to boost the applicant’s application.

Masters in Business Analytics Program Details

Item

Details

Total Tuition Fee

AUD $55,000

Program duration (full-time)

1 year

Undergraduate degree requirement

65%

GMAT score required

Not specified

Work experience required

3 years

English language proficiency test scores

TOEFL iBT

102

IELTS Academic

7.0

The tuition fee for the Master of Analytics Management program is AUD $4,300 per subject with the remaining requirements being the same as that of the Master of Business Analytics program. Prospective masters in analytics students at The University of Melbourne can opt for the BP Australia Scholarship in Business Analytics to help fund their education.

Masters in Business Analytics at Hong Kong University of Science and Technology (HKUST)

The masters in analytics program offered by the Hong Kong University of Science and Technology or HKUST is a Master of Science qualification which provides students with the required knowledge to solve real-world business problems using analytical methods and strategies. This masters in business analytics program is of a one-year duration. GRE and GMAT scores are not a prerequisite for admission but boost the applicant’s profile. 

Masters in Business Analytics Program Details

Item

Details

Total Tuition Fee

HK $3,00,000

Program duration (full-time)

1 year

GPA required

Not specified

GMAT score required

No minimum requirement

Work experience required

No minimum requirement

English language proficiency test scores

TOEFL iBT

80

IELTS Academic

6.5

Prospective students for the MS in business analytics program at HKUST can opt for the Asian Future Leaders Scholarship Program in order to fund their education at HKUST.

Read also:

Masters in Engineering Management: What, Where and How

Masters in International Management: What, Where and How

Masters in Statistics: What, Where and How

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