As businesses continue to embrace data and analytics, organizations need skilled individuals who can parse through data and make informed decisions. An online master's in business intelligence gives learners the tools to interpret information and adjust business strategies.
Similar to a master's in business analytics online, a master's in business intelligence combines business and management courses with information technology. These programs often take 1-2 years to complete, depending on students' enrollment status. Prospective students need a bachelor's degree, preferably in business, and might want to consider earning a few years of relevant business experience before applying.
The online master's in business intelligence leads to excellent career outcomes. One potential career outcome in market research analysis pays a median wage of $63,790, according to the Bureau of Labor Statistics (BLS). The BLS also projects jobs for market research analysts to grow 18% between 2019 and 2029, much faster growth than the average position. There are plenty of other job opportunities available when you hold a master's degree in business intelligence. Possible career paths include data scientists, financial analysts, and statisticians.
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Most Affordable Online Master's in Business Intelligence in 2021
Answering your questions about a master's in business intelligence
What is a Master's in Business Intelligence?
Business intelligence programs combine information systems with business. Many graduates of online master's in business intelligence programs end up in high-growth fields and earn above-average wages.
The master's degree benefits learners by providing a new perspective to both IT and business. Most students in graduate-level business intelligence programs come from an IT or business background, but rarely both. The business intelligence degree combines the two, teaching new skills while reinforcing previous ones. Master's degree-holders also typically find positions at the management level and earn higher wages than professionals with only a bachelor's degree.
Master's programs in business intelligence typically take between one and two years to complete and can be completed either full-time or part-time, giving you the option of completing the program while working full-time.
Career and Salary Outlook for Business Intelligence Majors
Business intelligence provides students with valuable IT and business skills, opening up several career opportunities. Many graduates of an online master's in business intelligence program choose to work in analytics since most programs focus heavily on analytics. As master's degree-holders, graduates also work in management positions. While no amount of education guarantees a career, business intelligence majors often pursue the careers below.
| CAREER | MEDIAN ANNUAL SALARY | PROJECTED GROWTH RATE (2019-2029) |
|---|---|---|
| Operation Research Analyst | $84,810 | 25% |
| Financial Analyst | $81,590 | 5% |
| Management Analyst | $85,260 | 11% |
Source: BLS
Operations Research Analyst
These analysts use various methods of mathematical analysis to solve an organization's problems. Duties include identifying problems, gathering large amounts of data, and examining the data to determine potential solutions. These professionals mainly work in finance, insurance, and technical fields.
Financial Analyst
As professionals who evaluate portfolios, financial analysts constantly research potential investment opportunities. To find the best opportunities, they collect historical data, research business trends, and pitch investment ideas to company officials. These professionals work on buy-side or sell-side, meaning they either purchase or sell existing investments.
Management Analyst
Also known as management consultants, management analysts use data to determine ways to make organizations more profitable and efficient. Daily tasks include analyzing financial data, interviewing employees, and working with managers to institute changes. Many management analysts work for consulting agencies or enjoy self-employment.
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What Are the Benefits of a Degree in Business Intelligence?
Advance Your Career Master's degrees in business help current workers add education to experience, allowing them to secure promotions or higher positions.
Learn New Skills Business intelligence blends business and IT, and many degree-seekers only studied one of the two subjects in undergrad. The master's degree teaches new, valuable skills.
Change Fields Those in business looking to transition to IT and those in IT looking to transition to business can do so with a master's in business intelligence.
Increase Potential Pay Higher levels of education often lead to higher salaries. A master's in business intelligence can also lead to pay raises from current employers. According to Payscale, the average salary for someone with a master's in business intelligence is $83,071.
Expand Your Network From well-connected faculty to alumni networks, graduate schools provide students with plenty of networking opportunities. A strong network could help graduates find their next position.
Accreditation for a Master's in Business Intelligence
When researching the best online master's in business intelligence programs, prospective students should check for accreditation. Accreditation certifies the academic quality of a school or program, ensuring that learners earn a degree from a well-respected program.
Colleges and universities receive either regional or national accreditation. However, learners searching for the best online master's in business intelligence programs should only apply to regionally accredited schools. Employers and doctoral programs prefer candidates who graduated from regionally accredited institutions. Learners who study at a non-regionally accredited school may not qualify for financial aid.
Prospective students should also look for programmatic accreditation. While not as important as regional accreditation, programmatic accreditation verifies that the degree meets standards set by industry experts. For business degrees, look for accreditation by the Accreditation Council for Business Schools and Programs or the Association to Advance Collegiate Schools of Business.
To learn more about accreditation and which accrediting bodies to look for, refer to the Council for Higher Education Accreditation, a top organization in certifying accrediting bodies.
Common Courses in a Business Intelligence Master's Program
What's the Difference Between an MBA and a Master's in Business Intelligence?
A Master of Business Administration (MBA) is a popular and highly-respected degree that is well-suited to those who work in or aspire to work in business leadership positions. MBA programs offer a variety of concentrations, including finance, marketing, entrepreneurship, project management, business analytics, and more.
There's plenty of overlap between an MBA and a master's in business intelligence, especially for those who receive an MBA with a concentration in business analytics. However, the two degrees are better suited to different types of professionals. An MBA provides a more thorough business education and is best for those who aspire to work in business leadership positions. A master's in business intelligence focuses more specifically on analytics and is better suited to professionals who aspire to work in research and analytics jobs.
How to Become a Market Research Analyst
Market research analysts study markets to recommend or improve marketing initiatives. While the BLS notes that market research analysts need a bachelor's degree, many employers prefer applicants with a master's degree and some relevant professional experience. Market research analysts must demonstrate excellent mathematical and analytical skills, so many professionals earn degrees in computer science, math, or business administration.
After earning an online master's degree in business analytics or business intelligence, individuals sometimes earn the professional researcher certification (PRC). While not required, this certification demonstrates a combination of education and experience.
Certifications and Licensure for Business Intelligence Majors
Although most positions do not require a license or professional certification, many business intelligence majors choose to earn a certification anyway. Certifications prove that an individual meets a minimum level of experience and education, and earning a certification could increase chances of securing a high-paying position.
Professional Researcher Certification One of the field's oldest certifications, PRC demonstrates an individual's commitment to knowledge and ethics. To qualify, professionals must complete 12 education credits (applicants can earn these during their master's degree). Next, individuals take and pass the PRC exam.
Certified Management Consultant Awarded by the Institute of Management Consultants, this certification holds professionals to global standards of ethical behavior and technical competency. Applicants need 3-5 years of consulting experience, including management or operations consulting. They must also submit five professional references and pass the CMC exam.
Certified Business Intelligence Professional This certification offered by Transforming Data With Intelligence requires a degree in information systems, business administration, or a similar field. Applicants must complete two years of full-time relevant work experience to sit for the exam. Professionals earn either practitioner or mastery-level certification.
How Can a Master's Student Pay for College?
Students who need help paying for an online master's in business intelligence can apply for scholarships. Learners can use scholarship funds for tuition, fees, and educational expenses. Some scholarships only accept applicants pursuing a degree in business intelligence.
The Visto Bill Caspare Memorial Fund Diversity ScholarshipWho Can Apply: Created in honor of Bill Caspare, this scholarship honors students who pursue a degree related to new media or data science, preferably within advertising and media. Applicants for this one-time scholarship must come from an ethnic background or be immigrants to the United States.Amount: $10,000
NSF Graduate Research FellowshipWho Can Apply: This fellowship helps graduate students pursuing a STEM degree pay for their program. Applicants must study full time and submit letters of reference. In addition to the scholarship, winners receive an annual stipend of $34,000 to cover living expenses.Amount: $12,000
Women in Data Science ScholarshipWho Can Apply: This scholarship works to increase the number of women pursuing an undergraduate or graduate-level data science degree. Applicants must be female, enrolled in an accredited institution, and currently pursuing a degree in data science, business analytics, or a related field.Amount: $1,000
Women Techmakers Scholars ProgramWho Can Apply: Available to women pursuing a degree in computer science or a related field, this scholarship awards $10,000 to multiple winners. Awardees also receive a complimentary visit to Google's campus in California for a multi-day retreat to network with other women techmakers and attend workshops and professional development seminars.Amount: $10,000
American Indian Science and Engineering SocietyWho Can Apply: AISES helps American Indians, Alaska Natives, Native Hawaiians, Pacific Islanders, and Indigenous peoples of Canada pay for their STEM degree with various scholarships. Applicants must pursue a degree in a STEM field, including data analytics and related topics. AISES only accepts applications from student members.Amount: Varies
