Advance Your Career with a Graduate Degree in Data Analytics to Join a High Demand Area in Technology and Business
Learn how Data Analytics is transforming today’s world with exciting new technologies – and how earning your Master of Science in Data Analytics can help you unlock a rewarding career where you’ll solve problems and shape our future.
In today’s world, people often say “data is king,” but really, data is nothing more than information. On its own, it’s meaningless, but in the right hands, it has the potential to reveal valuable insights, unlock solutions to complex problems, and completely transform our world with innovative tools and exciting breakthroughs in business, medicine, finance, and more. That’s the power of Data Analytics.
In the simplest terms, Data Analytics is the process of identifying a problem and collecting relevant data – and then cleaning, organizing, and analyzing that data to solve the problem at hand. Data Analysts or other analytics professionals scour the information looking for patterns and trends, and interpreting what they see to reveal actionable insights that can be used to make predictions about the future.
As retired adjunct professor at NYU and Touro University’s Graduate School of Technology, Braj Agarwal puts it, “Data Analytics uses information to create models, statistical analysis, summary and pivot tables, charts, dashboards, and other resources.” It answers questions like:
- What happened, how frequently, and why? (Descriptive Analysis)
- What are the simple remedies? (Descriptive Analysis)
- What are the more complex remedies? (Diagnostic Analysis)
- What might happen in the future? (Predictive Analysis)
This rapidly growing field is expected to continue to expand by as much as 31% over the next 10 years, and Data Analytics professionals will likely be in high demand for the foreseeable future. In fact, Data Analytics jobs like Data Engineer, Data Analyst, Machine Learning Engineer are all among the fastest growing job in technology and have been named on LinkedIn’s Jobs on the Rise reports in both 2021 and 2022.
If you’re looking to fast-track your tech career and work with cutting edge technology like machine learning and artificial intelligence, learn more about this exciting area and how you can build the skills you need to succeed as a Data Analytics professional.
WHAT CAN DATA ANALYTICS DO?
Ultimately, Data Analytics optimizes business performance by providing information that improves efficiency, reduces costs, and helps leaders to make better decisions. In today’s world, analytics is used to do everything from identifying sales trends and planning inventory to pinpointing the most effective treatments and medications based on a person’s unique genetic makeup to streamlining transportation, like planning delivery routes or timing stoplights based on traffic patterns.
As data collection and analysis becomes more sophisticated – and as Machine Learning and Artificial Intelligence become more widely incorporated – the industry has become better able to tackle challenges that are more and more complex. Facial recognition locks, virtual assistants, and chatbots are all possible thanks to the Data Analytics application of Machine Learning (ML) and Artificial Intelligence (AI), and the challenges that can be addressed using the predictive analytics provided by these tools are virtually unlimited.
However, as Braj notes, machines can only do so much. “Machines are very fast at making computations, but they can’t think. They’re just using data to make computations.” He likens it to a two-year-old child who hasn’t seen many dogs but can still recognize a new breed as being a dog if the child sees the dog on the street. However, a computer first needs a selection of dog images it can use for comparison, and then it will perform a series of fast computations to determine that the new breed is in fact a dog. The computer isn’t really thinking – it’s using data behind the scenes, and the more data it has, the more accurate it is.
For this reason, Braj believes it’s unlikely that computers will replace people any time soon. “The big thing about humans is that they’re emotional and passionate,” he says. “They don’t just offer dry predictions, there’s interaction and explanation.” While computers are getting more accurate and can process computations much more quickly, humans are still needed to add context to the information and present it in ways that make other humans willing to accept it. Finding and sharing those insights is what Data Analytics is all about – and how Braj expects it to continue to evolve in the future.
WHO CAN WORK IN DATA ANALYTICS?
Braj explains that, in the past, the technology used for Data Analytics was complicated and not particularly powerful, which made the field much more specialized. However, today’s technology has progressed by leaps and bounds, and tools like Tableau and Power BI are so intuitive and easy to use that even people without a background in Data Analytics can step into tech roles and become successful.
In fact, he’s even seen students with arts and humanities backgrounds become successful in the field – mostly likely because Data Analytics is as much about storytelling as is it about technical skills. “Analytics is not just science, it’s also art. Ultimately, you are telling a story to an executive so that the executive can make the best decisions.” With the user-friendliness of today’s tools, nearly anyone can learn the necessary programming skills and start building a career in Data Analytics. “This is an area where, if you are driven, you can go as far as you want to go,” he stresses.
IS AN ADVANCED DEGREE REQUIRED FOR A CAREER IN DATA ANALYTICS?
Of course, someone who has earned a master’s degree in Data Analytics and has developed an advanced knowledge of analytics and programming tools like Power BI, Tableau, Alteryx, and Python will open the door to more complex jobs – and significantly higher salaries. Plus, the Data Science field anticipates growth of 31% over the next 10 years, giving the Data Analyst professional strong job security for the foreseeable future. While brand new Data Analytics jobs are likely to be created as the field continues to evolve, these are just a few of the opportunities that are currently available:
- Data Analyst:: Use your skills to define problems, collect and analyze data, and identify solutions, earning an average salary of $80,000 a year.
- Data Scientist: Earn a salary that averages around $98,000 annually by applying contextual understanding of data to solve problems in a specific industry.
- Machine Learning Engineer: Create machine learning models and self-running Artificial Intelligence algorithms for an average salary of nearly $130,000 a year.
- Data Engineer: The average Data Engineer earns $135,000 annually for collecting data – building the systems that gather, convert, and validate it for analysis.
- Computer and Information Systems Manager: Create an organization’s computer-related strategies and plans for an average annual salary of $159,000.
IS AN ADVANCED DEGREE REQUIRED FOR A CAREER IN DATA ANALYTICS?
Earning a Master of Science in Data Analytics (MSDA) will position you to take the next step in your Data Analytics career, helping you build a solid foundation in next-generation tools and technologies you’ll need to work in areas like Machine Learning and Artificial Intelligence. You’ll also develop in-depth knowledge and cutting-edge skills that will empower you to help shape the field of Data Analytics as it continues to evolve.
At Touro University’s Graduate School of Technology, our MSDA program includes core courses like Principles of Data Analytics, Statistics for Data Analytics, and Database Concepts and Design that will solidify your expertise in the field. Foundational courses also cover information management, analytical thinking, data mining, data warehousing, and modeling, with the option to pursue a Data Analytics Internship or conduct advanced research for your thesis.
Our MSDA program also gives you the option to pursue a concentration in Technology or in Business. Both programs are STEM-certified and available both in-person or online in real time, giving you the convenience and flexibility to advance your education in whichever way works best for you.
- With the Technology/Database concentration, you’ll focus on programming, best data management practices, and other skills to develop and use databases, mastering languages and tools like Python, R, SQL, Power BI, Tableau, and more. Upon completion, you’ll be prepared for Data Analytics roles like Data Analyst, Operations Analyst, Database Manager, Data Scientist, and many other rewarding positions.
- The Business concentration develops business skills like financial analysis, risk modeling, and trend analysis, approaching data through the lens of finance and business management to improve operational success and increase profits. After graduation, you’ll have the skills to work as a Business Manager, Risk Analyst, Financial Consultant, among other business-oriented Data Analytics roles.
Earning your master’s degree will ensure you have the knowledge and expertise to stand out in what’s already a competitive field. Braj encourages anyone who’s considering taking the leap to earn an MSDA to jump in and do so. “Keep learning,” he recommends. “It is more competitive than ever, and new stuff is coming out every day. If you keep learning, you will do well.”
Are you ready to keep learning and moving forward in your Data Analytics career? Contact Touro University Graduate School of Technology for more details about how to earn your Master of Science in Data Analytics (MSDA) today.