Since analytics is becoming integral to virtually every aspect of business, leadership across all industries must be capable of guiding their companies with these tools in mind. Analyzing information is vital to any business, and the opportunities to harvest insight need to be taken advantage of to find ways to boost revenue and build customer confidence. Algorithms and data enable businesses to learn detailed information about their customers and the markets. Contemporary business analytics can improve security, help important decision-making and measure success metrics.
An online Master of Business Administration (MBA) with a Concentration in Business Analytics from Radford University can help students become leaders in driving strategic growth by using data-informed techniques to optimize business decisions. This program can also prepare students to understand and apply big data analysis to navigate industry-specific and general business challenges.
The Future of Corporate Leadership and Business Analytics
Processing vast amounts of data and using customer insights and expectations drive changes in data-oriented business models. The open-source movement and cloud computing allow businesses to use powerful tools to examine information and overhaul their business models.
Using data assets to enable quick business decisions and transform business culture to create better products, boost revenue and improve the customer experience requires the insight of a visionary leader in the shape of a chief data officer (CDO). A CDO manages various data-related functions and creates business value from data.
Companies looking to gather value from data must understand, manage and process algorithms and data efficiently and intelligently. Awareness of privacy and ethics concerns while complying with regulatory standards is vital to gathering and analyzing data. Analysts in senior roles can stay ahead of the competition by understanding the direction and strategy of the business while knowing how to use data to propel the business forward.
According to the Big Data and AI Executive Survey conducted by NewVantage Partners in 2022, 73.7% of the surveyed business had a CDO or comparable analytics officer, compared to only 12% of companies in 2012. The need for such a position is multiplying as data advancements accelerate. Many believe the CDO role is the future of corporate leadership as they continue to take on varied responsibilities beyond data management, information strategy, business analytics and data science.
Making sense of the data encompassing consumer behavior and connected processes involves algorithm analysis. Examining algorithms and providing successful analytics requires talented and intelligent leaders, such as CDOs, to use the correct technology and skill sets to create business value from data. Blending analytics and data is vital to help companies evolve their business and deliver quantifiable business outcomes.
About Radford University’s Online MBA With a Concentration in Business Analytics Program
In this online MBA Business Analytics program, students will study data mining, business forecasting, mathematical modeling, predictive analysis and more. The core curriculum provides a cross-functional, broad-based education in general business areas like finance, accounting, marketing and strategic management.
The core course entitled Organizational Behavior and Managerial Skills enables students to study the behaviors of groups and individuals in work organizations from a managerial view and apply the methods, concepts and research findings of the behavioral sciences to the understanding of the causes of human performance, satisfaction and development in work environments.