What is the difference between MS Business Analytics and MBA?

Data Science is a new field of study with a lot of room for innovation. It is changing the way we think, work, and live. It has started to revolutionize many sectors such as healthcare, finance, education, and marketing. With the rise of Data Science, the field of analytics have seen a radical transformation in recent time. Fresh graduates are often confused to choose between courses that can provide them with a set career. While the MBA was a default option for most people many years back, now the story is different. Introduction of new courses and programmes have also given aspirants a new horizon to choose from. Hence, opting for the right programme and course is quite crucial at such a moment. Ending up with a boring subject let alone the one you do not enjoy studying is least of your problem. Imagine ending up at a good firm yet in the wrong profile. It is better to perform thorough research before opting for any particular course as your future will entirely depend on it.

Before we delve deep into the differences, similarities and the best course to opt for between MBA and MS Business Analytics, let us understand what each of these courses comprises of.

What is Business Analytics and what is MBA?

The course in Business Analytics basically focuses on developing an understanding of the performance of a business and creating new insights based on statistical analysis, predictive modelling and so on. Business Analytics is an emerging field that is changing the way businesses think about their performance and explore new opportunities. It is a course that helps develop an understanding of quantitative analysis and data mining, which helps create new insights.

On the other hand, a Master’s of Business Administration (MBA) is inclined towards searching and learning scientific approaches to management. An MBA is a graduate-level program that typically lasts between one and two years. In the United States, an MBA is typically pursued by individuals who are interested in the business world, with a need for a master's degree and the financial means to attend such an expensive program.

The subjects in Business Analytics are mainly technical in nature and it concentrates on enhancing your domain knowledge of Python/SAS/SQL/Hadoop/R and so on. As opposed to Data Analytics, Business Analytics contains only a part of coding. For MBA courses, you have the option to take up any specialisations such as Finance, Human Resource Management, Marketing, Public Relations and so on. These electives are available as options for executive MBA programmes as well. Quite simply, Business Analytics is inclined to on deriving an analysis of data to act accordingly and MBA focuses more on business planning, expansion and improving management.

Read: Why study MBA Abroad?

Difference between MS Business Analytics and MBA programmes

You must have received an idea about the difference between MS Business Analytics and MBA programmes. However, to actually distinguish between them is a difficult task, as somehow or the other they are interconnected. To start with the basics, let us take a look at the difference between them academic-wise.

Cost and duration of the programmes

In the table given below, there is a clear distinction between the tuition fee and the duration of the course. While an MBA degree’s duration is not less than a year, on the other hand, you can find MS Analytics’ course minimum duration in ten months.

*Approximate amount

MS Analytics course duration and tuition fee details (*approximate amount):

Requirement of work experience

This is one of the major distinction criteria for MBA and MS analytics. To apply for an MBA programme, be it full-time or part-time and executive or professional, you would require about five to seven years’ worth of professional experience. For MS Analytics, work experience is not mandatory. Many businesses in today's work environment are turning to analytics to gain a competitive edge. Companies can measure their success in the workplace by harnessing data and evaluating at what point their employees make a significant impact.

Comparison in terms of opportunities and expected salary

A degree in MBA provides you with a broader horizon to opt from different options and also in terms of job opportunities. A degree in MBA provides you with a wider range of opportunities and also a better future. If you have a degree in MBA, you will have options to work in different industries such as management consulting, finance, marketing & others. While it's easy to stick to what you're passionate about, it's not always easy to find a job in your field. It takes time, energy and effort to find the perfect one. MS Analytics students can only stick to their field while searching for jobs. Hence, has a limited reach. Also, post the completion of the course, MBA graduates can expect an extraordinary salary growth while it is not so in the case of MS Analytics graduates. Thus, the earning potential is relatively high for MBA graduates rather than MS Analytics graduates.

Acquired skills from the programme

Each of these areas boasts a separate set of skills. Business analytics is a branch of business which uses data and statistical analysis to find solutions to challenges faced by businesses. Business Analytics will equip you with analytical skills like designing and implementing tests of processes, data review, financial planning and forecasting, gap analysis, qualitative and quantitative research, and technical integration and validating functionality. Also, you will be able to develop your communication, critical thinking, negotiation, and problem-solving skills. For MBA graduate, they can expect to polish general skill-set of any management graduate that includes leadership, teamwork, adaptability to change, global orientation, time management, and project management, along with problem-solving, strategic planning and communication skills. Also, depending on your elective, you will be exposed to a different set of competencies such as for Consulting/Strategy, taking business decisions and a desire to tackle complex business problems through creative and innovative ways. For Marketing, you will be imbibing quantitative/research skills along with a knowledge of fundamental marketing principles.

STEM vs Non-STEM degree

As you will be aware, STEM (earlier known as METS) stands for Science, Technology, Engineering, and Mathematics. The STEM movement started in the late 90s and early 2000s. During this period, there was an inadequacy in the quality and quantity of graduates and workforce in these specific sectors. As a result, the National Science Foundation deemed it compulsory for all educational institutes to support all fields of fundamental science and engineering be it financially, in terms of immigration, etc. Thus, Business Analytics comes under the category of the STEM degree while MBA is a non-STEM degree.

What should you opt for MS Business Analytics or MBA?

With an overview of both the courses, the distinction between these two programmes must be clear by now. Also, you can decide on the programme you want on the basis of your requirements and future career prospects. In short, if you aspire to be an entrepreneur or a CEO, then MBA is the right choice for you. There is a lot of pressure on the founders of new startups, who have to ensure their businesses thrive. With MBA as their guide, these new entrepreneurs can become successful and knowledgeable in any field, attain the skills required for leadership, and be able to stand ahead of their competitors. Also, if you see yourself as an influencer or a decision-maker, then an MBA degree will provide with that extra edge. For those people, who are looking for a career in analytics (Big Data, Marketing, HR, etc), you can go for MS in Business Analytics. Apart from this, one of the major deciding factor you should keep in mind is your investment ability, i.e how much you can invest in a course. As evident from the above-given table, MBA degrees are generally a bit on the expensive side and if you are planning to join top B-schools, then the fees can cut a hole in your pocket. However, there are various funding options available such as student loans, grants, scholarships, and so on. For an MS course, you might not need to think much about investing a huge amount as the tuition fee is relatively cheaper.

Whatever decision you make will decide your future career, thus, thorough research about both programmes is necessary. Make a list of the universities/ colleges offering both the programmes and do in-depth research about the courses included in their curriculum, the faculty of that particular department and post-study placements. Then, based on the above-mentioned factors, you can make your decision.

Still in dilemma about choosing the right programme/course according to your profile? Contact our Study Abroad experts

Read:

• MS Analytics SOP
• MBA SOP
• LOR for MBA
• LOR for MS