Data Science vs Business Analytics

Introduction

In today’s data-driven world, data science and business analytics are two of the most demanding courses with promising futures.

Before deciding which is better, let's first understand both these courses, target students and career opportunities. If you are confused and wondering which degree you should pursue this 2024/25, you are in the right place. This comprehensive blog explores the unique strengths, career opportunities and key skills of each field. We have also curated a list of the best master's programs in data science and business analytics for you.

Curriculum

Before diving into the analysis and discussing data science vs business analytics, let us be aware of the core concepts. What is Data Science?

Data Science is the study of data with the goal of understanding and extracting meaningful insights to accelerate business profits. Due to this, a master's in data science focuses on technical skills with courses in machine learning, algorithms, statistics, and computer science. You will be responsible for understanding complex patterns and building predictive models using advanced techniques like machine learning and artificial intelligence.

Now, what is Business Analytics? How is it different from Data science? Let us break it down for you. 

Business analytics is the study of iterative, methodical exploration of a company’s data and transforming it into insights to improve business decisions. You will be responsible for translating raw data into actionable insights and optimizing business operations. This is why a master's in business analytics emphasizes business applications with courses in data management, statistics, programming, and business communications. If you are looking for the best MSBA programs abroad check out Masters in Business Analytics. 

Despite their distinction, some programs incorporate data science for business and offer electives likewise. The majority of European universities offer masters in data science in business.For example, ESCP Business School offers a master's in big data and business analytics focussing on data science in business and analytics similar to IE Business School.

Understanding your Right course 

The right choice of career depends mostly on your profile, ambitions, and preferences. If you are more interested in technical roles or research, a master of science in data science might be a better fit for you. You have to learn programming languages like Python R, statistics, machine learning, data wrangling and manipulation. Due to the interdisciplinary approach of universities these days many universities offer niche courses. If you want to work in the social sectors and wish to refine your understanding of data, the University of Oxford offers a Master's in Social Data science, which might be ideal for you.

If you are more of a business person, high on business acumen, and interested in uplifting business and decision-making, a master of science in business analytics might be the course for you. You are expected to have or acquire a strong understanding of business processes, and financial concepts and the ability to communicate strategies to non-technical audiences.

Difference in Focus

A master's in data science focuses on analyzing and interpreting complex data sets, with a broader range of applications beyond business.

A master of science in business analytics focuses on using data to inform business decisions with an emphasis on communication and storytelling.

For example, if you are a data scientist at Amazon your task will be to analyze data and predict customer churn. Now say you have a friend who is a business analytics professional at Amazon who would use the information you churned and develop strategies to retain customers. She will use the data to predict trends.

Data Skills Spectrum:

Though both these courses have some sense of similarity and may overlap in cases. A master of science in data science requires more technical acumen and skill set. You might be expected to venture into advanced areas like machine learning and big data analysis. 

Business analysts leverage data to solve business problems and focus on communication and translating insights for stakeholders.

The Future of Data:

A master's in data science prepares you for careers that deal with researching data like data scientists or analysts whereas someone with a master's in business analytics will be more on preparing strategies to push business through success.

Both Data science and business analytics are projected to experience growth in the coming year with the increasing amount of data. Emerging trends like AI, cloud computing, computer visions, and regression models further shape these fields creating new opportunities. Currently due to the shortage of skilled professionals in these domains, many universities offer online courses in data science and business analytics.

Universities you can pursue your degree this 2024

After analyzing the market, going through rankings, course curriculums, and offerings we have curated a list of the best masters of science in data science.

Top MS in Data Science:

1. University of Illinois at Urbana-Champaign
2. University of Michigan
3. Georgia Institute of Technology
4. University of Wisconsin-Madison
5. University of Oxford
6. University of Toronto
7. Carnegie Mellon University
8. EPFL
9. ETH Zurich
10. NTU Singapore

Are you excited to make fruitful businesses? A master of science in business analytics will train you with the right skills. Here is a list of some of the best masters of science in business analytics for 2024/25. 

Top MS in Business Analytics:

1. UCLA (Anderson School of Management)
2. MIT(Sloan School of Management)
3. ESSEC
4. HEC Paris
5. Duke’s Fuqua School of Business
6. Imperial College Business School
7. Texas McCombs 
8. National University of Singapore(NUS)
9. University of South California (Marshall School of Business)
10. Warwick Business School

Jobs after Masters in Data Science

Do you crave uncovering hidden patterns in data and building complex models with the latest tools and software like Python, MATLAB, and R, a master of science in data science might be your calling. 

Interested to know more? Click here to find the best Masters in data science. Here is a list of future jobs, and careers in data science for you to pursue in 2024/25:

• Machine learning engineer
• Data scientist
• Dat specialist
• Data Architect
• Data researcher
• AI specialist
• Data analyst
• ML specialist

Jobs after a Masters in Business Analytics

Does translating data into actionable business strategies excite you? A master of science in business analytics could be your ideal path. Here is a list of future careers in business analytics for you:

• Business intelligence analyst
• Marketing analyst
• Market research analyst
• Business Consultant
• Business analyst
• Business intelligence data analyst

This list is non-exhaustive as these jobs come with different names with slight modifications in job roles.

Conclusion

Data is the future. With companies holding so much consumer data they need people who can put that information to good use. Often used interchangeably data science is one of the key components of business analytics so they often tend to overlap. By understanding your strengths and career aspirations, you can choose the path that leads you to a rewarding and successful data-driven future.

Still confused about which university to choose or if it suits you or not? Do not fret! Book a session with our founder today and let us find the best programs for you and get your dream university admission!