How Studying Data Analytics in Your MBA Can Help Your Career Progression

Sponsored by Haskayne School of Business – University of Calgary

We’re moving towards an era that’s big on data and data analytics, and as a result there’s an increasing need for MBA candidates to add data analytics to their business arsenal in what’s becoming a very digital world.

We spoke to MBA Careers Advisor, Alma Osorio at Haskayne School of Business in Calgary, Canada to find out how their MBA is adapting its curriculum to meet the industry’s demands and how this highly marketable and sought-after skill can boost your career prospects in an already crowded job market.

Data analytics is revolutionizing the way the world does business

On the face of it, data analytics can seem complex and confusing – but it can help reveal useful information. Learning about algorithms and coding is essential when it comes to understanding how an organization functions in terms of productivity, profit and customer retention.

From advertising groups to insurance firms, data-led insights are behind big business decisions as skilled professionals collect, analyze and ultimately monetize the information. The growing skills gap in data analytics suggests career longevity in the field is highly likely.

“Employers working with the Haskayne School of Business Career Centre are already asking for graduates with this background,” explained Alma.

Practically every business – no matter how big or how small – will need to make the most of data analytics professionals.

“In A Digital Future for Alberta, June 2019, the Information and Communications Technology Council (ICTC) forecasts Alberta will see demand for nearly 9,000 digital jobs by 2023.

“This growing demand is already visible in the number and types of jobs in data analysis posted by companies in industries with a need to stay competitive, such as the oil and gas and transportation industries,” said Alma.

Such demand sees roles such as data and analytics director, business intelligence and data analytics specialist, pricing analytics manager, and senior data analytics analyst becoming available for business professionals who have a keen interest in analytics.

Understanding and appreciating the impact data analytics can have on a business is vital. It can help build a strong argument to help move the business forward while encouraging collaboration across each business area, from HR to marketing, management to operations.

It also allows businesses to make better use of resources, materials, products and sources, as they develop smarter and more strategic plans for long-term and short-term goals.

How business schools are catering to industry needs

An increasing number of business schools around the world are recognizing the significance data-led insights can have on business-making decisions. As a result, many are beginning to incorporate specific data analytics modules and specializations into their degree program’s curricula – more specifically, the MBA.

The MBA at Haskayne School of Business has recently added two new specializations to cater to the increasing reliance the world has on those who have the specific skills and knowledge capable to work in our rapidly developing digital world.

“An MBA equips professionals with the right skill set to compete in today’s business world,” said Alma.

“Whether they aspire to become managers, transition into a new field, advance their careers or become an entrepreneur, an MBA degree will provide individuals with the necessary tools to understand and navigate with confidence the corporate world.

“Through advanced theory, capstone projects, case analysis and networking events, students are exposed to new challenges everyday, expanding their business acumen while enhancing those soft skills that employers look for when they are hiring, such as leadership, problem-solving and communication.”

MBA students at Haskayne can opt to study two new specializations – business intelligence and data analytics, and management analysis. Specializations such as these that are offered at Haskayne can be career-orientated, allowing you to apply the skills and knowledge acquired in the degree to your career.

“Following the completion of the business intelligence and data analytics specialization, graduates will possess a strong skillset in artificial intelligence, data management, business analysis and improvement, as well as change management.

“Any organization dealing with large amounts of data will benefit from hiring a data analytics specialist to capture that data, study it and make sense of it in order to create value and enhance operational efficiency.”

Looking ahead

“Currently, in Calgary, more than 2,000 tech-related jobs remain unfilled,” said Alma.

Being skilled in data analytics can set you up for being a key decision maker where you can have a genuine influence on the business’s decision making as more companies and employers seek data literate business professionals.

“Haskayne has introduced the business intelligence and data analytics, and management analytics specializations in an effort to fill some of these job vacancies, meet the needs of our community and contribute to Calgary’s economic growth.”

So, when it comes to the career outlook for MBA graduates, specifically those in Calgary, it’s looking positive.

“In the next three to five years there are 11,625 new jobs forecasted in the fields of finance, tech, insurance, real estate manufacturing, agriculture, logistics, clean tech & energy efficiency,” according to Alma.

“Many of these jobs are reserved for highly educated and skilled individuals who are ready to contribute their innovative thinking and problem-solving abilities to tackle the challenges corporations face in today’s competitive world.

“An MBA program focuses on bringing individuals up-to-date, relevant industry knowledge and effective managerial techniques to tackle projects that impact the bottom line, address the needs of the community and take our environment into consideration.”