Masters in Data Anlaysis

The Power of Data Analysis

Imagine if businesses could predict future sales results. Business owners do not need to imagine anymore as it is being done by profiling their customers’ preferences with the help of social network interactions, location data and website click-stream data. 

Is Masters in Data Analysis for you?

Ranked amongst “The Sexiest Job of the 21st Century” by CNBC, the degree may be for you if you are looking for a career which pays well along with benefits. Data analysts or data analytic specialists are one of the most sought-after positions, according to Rob Bearden, CEO of Hortonworks.

Masters in Data Analysis

Data analysts collect, organize and assess information from a variety of resources to find useful information. They make use of market conditions to project future trends for businesses. At present, companies are in need of data analysts in order to manage big data to improve their businesses. This is why the demand for these professionals is soaring for data analysts.

The degree equips you with the skills and knowledge necessary to synthesize and mine big data with the purpose of uncovering trends, relationships and patterns.

Admission requirements

• An undergraduate degree from an accredited institute
• Minimum GPA requirement 3.0
• GRE or GMAT score
• TOEFL (for international applicants)
• Letters of recommendation
• Transcripts
• Work experience (recommended but not required)

What will you learn?

The degree will cover the following topics:

• Data mining
• Management science
• Business communication
• Data visualization
• Risk analysis
• Optimization
• Econometrics
• Predictive analytics
• Statistical models
• Machine learning

Learning objectives

• Identify and assess the opportunities, needs and constraints for data usage within an organizational context
• Lead analytics projects and teams
• Effective communication to a variety of audiences
• Design creative and innovative data analytics solutions
• Integrate data science and information technology to maximize the value of data

Data Analysis Programs

The bachelor’s and master’s degrees are some of the most commonly offered programs in data analysis. The bachelor’s degree is suitable for the ones who want to find entry-level jobs in this field while the master in data analysis is ideal for those who seek careers in upper management.
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PhD programs are also available and are designed for candidates who want to pursue careers in research or teaching. The bachelor’s degree can be completed in 4 while the master’s degrees can be completed in 1-2 years.

Online Programs

Data analysts who are already employed can improve their career prospects by pursuing advanced degrees in this field. As working professionals face a tough time attending regular classes, they can enroll in online degree programs and earn this degree without making major changes to their personal or professional routine. The flexibility of online programs allows students to study from any location and at a schedule that suits them.

What do data analysts do?

Today’s business success depends on hyper-competitive data. If you’ve heard of the term “big data” then consider data analysts as those professionals who process and manage it. Big data is essentially large sets of data that conventional software tools cannot process. Data analysts by processing and analyzing data help their employers make better business decisions. In short, data analysts help make effective business strategies.

Data analysts save lives

Consider the following scenarios to better understand the importance of data analysts in today’s world..

• Time taken during initial treatment in emergency rooms is reduced by combining latest lab results with aggregate patient histories. This helps in bringing down the patient mortality rate.
• More accurate models of pedestrian and automotive traffic are developed by using GPS data collected from mobile phones, cars, taxis and buses.

Career Options

• Data Warehousing Manager
• Data Mining Engineer
• Data Analyst
• Knowledge and Informatics Engineer
• Business Intelligence Analyst
• Data Scientist

The Bureau of Labor Statistics (BLS) and O NET Online are the two most reliable sources on national employment statistics. While they do not have information on all of the positions mentioned above, O NET Online reports that business intelligence analysts earned a median yearly salary of $82,340 in 2013. BLS reports data scientists earning a median yearly salary of $102,190 in 2012. However, these data scientists have doctoral degrees in a relevant field. Their demand is expected to grow by 15% over the next few years.