Fortune set out to identify the best online degree programs for the next generation of business analysts, and the result was this ranking of the nation’s best online master’s degree programs in business analytics. These programs not only have world class professors and a top-notch curriculum, but they also attract some of the brightest students. This ranking was last updated February 2024.
Thanks to the growing demand for business analysts and high starting salaries that accompany these jobs, many people are pursuing a degree in this field. The good news is that business analysts are being hired at companies across industries. With data-based decision-making becoming more and more popular, there’s no sign the demand is slowing down.
Business analytics is a field for studying data and making strategic decisions based on that analysis to increase efficiency. People with a degree in business analytics often go on to pursue functional roles, such as becoming a business analyst, which require a mix of qualitative and quantitative insights. The ultimate goal of business analytics is to increase efficiency and use data to inform business decisions.
There is growing demand among companies for people who can make sense of complex data sets. Entry-level business analysis professionals earn $57,693—according to the International Institute of Business Analysis’s 2023 Global State of Business Analysis report.
Students pursuing a business analytics degree will learn a lot more than how to crunch numbers in the curriculum. Rather, these programs focus on how to use the latest technologies for gathering, visualizing, and modeling data. In addition to an emphasis on quantitative skills, these programs prepare students to translate their analysis into actionable business insights.
Obtaining a master’s degree in business analytics will help graduates pursue a huge range of careers across most industries. In addition, a master’s degree may help someone move up to a managerial or leadership position, while some companies now have chief analytics officers.
No, these degrees are different. An MBA, or master of business administration, is an internationally recognized graduate-level degree in business leadership and management. By comparison, business analytics can be pursued at the bachelor’s, master’s, and doctorate degree level and focuses instead on how to best analyze and implement data to improve business efficiency.
One degree isn’t inherently better than the other, and may appeal to people with different career goals. The best degree program for you will depend on your career goals and interests. And you may not need to choose between the two: Some MBA programs offer a concentration or specialization in business analytics.
Business analysts earn an estimated $93,482 in total pay in 2024, according to Glassdoor. And some business analyst roles have a possible salaries well into six-figures. People with a degree in business analytics may go into executive-level roles within their companies, which could fetch even salaries.
The time it takes to complete a master’s degree in business analytics depends largely on whether a student enrolls in an online or in-person program. Residential programs typically take two years to complete, though there are some accelerated one-year programs, while many online students work while attending school which extends the amount of time it takes to complete the degree.
