Last Updated: August 16, 2021
Masters in Data Analytics
With 6.4 billion connected devices, Information Technologies is more than ever in the limelight. Data professionals deal with the management, organization, and analysis of data generated by the use of these connected objects, become very strong profiles. To be able to analyze and exploit this unstructured and increasingly exponentially collected data, 65% of companies say they are looking for profiles with management and management skills for "Big Data”.
Data Scientists and Big Data experts are among the most demanded profiles of the moment. The field is important because it helps companies and organizations peak their performance through the apt usage of the collected data. The uses of data storage range from tracking employment working hours and salary details to making business decisions based on trends traced from existing data. Candidates who wish to pursue this field will have to prepare themselves in the fields of mathematics, computational skills, and even statistics which will all be of immense use in their careers.
Benefits of Doing MS in Data Analytics
The Master in Data Science is offered in response to the growing need for professionals who can extract useful knowledge from the sources of information that support the business objectives through data analysis. The Master in Data Science is aimed at professionals who have the ambition to work as a Data Scientist as well as those who want to turn their professional career towards data analytics, Big Data, and Business Intelligence.
In recent years, because of the digitalization of business, companies are seeing exponential growth in the data they generate. In this sense, the management of these large volumes of data becomes essential for the improvement of business efficiency. Having a strategy that allows them to capture, store, organize, integrate, manage, and use this data is necessary for many organizations.
Gradually, companies are becoming aware of the possibilities it offers. The reality is that, in addition to creating an architecture that is capable of collecting and storing large volumes of data, it is essential to separate what is relevant from what is not. Due to the confidential nature of most of the content within the field, and due to an acute shortage of experts in the field, candidates who have completed the course will be able to find a variety of career options.
Admission Requirements for MS in Data Analytics
In order to get admission for a master’s course in Data Analytics, candidates will require the following-
- TOEFL/IELTS Score- for international students
- Completed Bachelor’s in Computer Science or Data Analytics
- Transcripts and GPA
- Letters of Recommendation
- Coursework done in calculus, programming, statistics-if applicable
Cost of Doing a MS in Data Analytics
Due to the career growth expected in the field after the completion of the master’s degree, the cost of attendance for the course is considerably high. Candidates will have the option of doing the course either online or offline with considerable fee differences. The fee for online programs is calculated on a credit basis whereas the fee for offline programs is calculated on a semester or yearly basis making the amount appear huge.
Candidates will be able to sign up for online programs that can charge a fee as low as $320 like the University of Illinois at Springfield. But at the same time, they will be able to find programs that take a fee above $1000 per credit. One can consider the programs charging below $1000 as the affordable ones.
On the other hand, in offline programs, the cost of attendance can be as high as $100,000 or as low as $28,908 per year. Depending on the university, candidates will be able to sign up for full-time, part-time, or online courses. While the content remains the same, the fee structure and class format will change and can be incorporated into the candidate’s schedule.
Course Content in MS Data Analytics
Master’s in Data Analytics has its main objective as providing professionals and managers with the keys to managing information systems of an organization or company, especially in the environment of Big Data or large volumes of data. The training program is divided into five blocks of content, which will cover everything related to-
- Data Management
- Systems Architecture
- Technology for Big Data
- Business Intelligence
- Business Analytics for Big Data
- Management of Technological Projects
Students will also have to develop a final master’s project where all aspects related to the development and management of a project related to information technologies must be taken into account. In it, they must apply the measures and business policies that they consider most appropriate to achieve the objectives related to the area of Data Management. The course takes a duration of 2 years in total.
Top Universities for Data Analytics
The top universities where candidates can complete their master’s in Data Analytics are-
- San Diego State University
- The George Washington University- School of Engineering and Applied Science
- Drew University
- Tufts University- Graduate School of Arts and Sciences
- Nova Southeastern University- College of Computing and Engineering
Industries and Fields Graduates Can Work In
After completing the studies of the Big Data Analytics Master's program, students will be able to direct their professional career towards various fields and profiles, such as:
- Investment banking and private banking
- Retail companies
- Non-Governmental organizations (NGOs)
- Information Technology Companies
- Insurance companies
- Data Scientist
- Business Analyst
- Business Intelligence
- Chief Data Officer
- Marketing Manager
- Social Media Strategist
Career Growth and Job Opportunities
Candidates who have completed their master’s degree in Data Analytics will not have any difficulty in procuring a high-paying job. The job that is done by these graduates comes under the fields of mathematics and computer science and hence most candidates will be able to find jobs even after their bachelor’s degree. They generally do not require work experience as the program-specific training related to their job will be provided to them by the companies they work in.
The median annual wage as of 2020 is estimated to be around $98,230. The number of new jobs that are expected to be open under this field between the years 2019 to 2029 is around 10,300 which shows a growth rate of 31 percent in the field. The most popular jobs that candidates can get after a master’s degree in the field are-
- Data Scientist- Their job is to convert existing data into valuable information that can be made use of by the government or organization they work in. Apart from collecting and converting the data, they will also be asked to interpret and analyze the data thereby breaking it down.
Average Salary- $120,000 per year.
- Management Analyst- Their duty is to try and improve the efficiency of the company by constantly analyzing both problems and problem-solving methods and recommending changes. Their job includes collecting the necessary data regarding the company from the different departments and developing new practices, systems, procedures, and changes. They are also called management consultants.
Median Salary- $87,660 per year. (per BLS)
- Logistician- Their duties include the complete coordination of the company’s supply chain right from the time to conception until it reaches the consumer or until its disposal. They will have to track trends in the market and alter or bring changes to their product accordingly. This should also be done in a manner that reduces the cost of production and increases profit.
Median Salary- $76,270 per year. (per BLS)
- Big Data Architect- They are the people in charge of identifying big data-related problems by using data technology and figuring out solutions for the problem that has been identified. They will have to possess in-depth knowledge of the latest technologies, the relation between technologies, and their usage.
Average Salary- $153,000 per year.
- Database Administrator- Their job description includes the storage and organization of data through the use of specialized software. The data they store can be records regarding shipping goods or the company’s finances. They have to ensure the safety and availability of the data. Most of the time they will also be required to merge the old and new databases, as well.
Median Salary- $98,860 per year. (per BLS)