The days of analytics being restricted to the IT department are long past. As organizations have found uses for big data in optimizing a wide variety of processes, analytics have been applied all across various enterprises. With the right quantitative information in hand, it’s possible to make better decisions and more informed predictions for every aspect of a business.
The ubiquity of demand for big-data insights opens numerous opportunities for individuals with a master’s in business analytics. Each part of an organization has its own way of putting that knowledge to work, and finding your niche can open up an exciting career path. With an understanding of how various departments use big data, you can begin to forge a future in this field.
In IT departments, gathering robust data on a company’s handling of resources and projecting future needs for hardware and software tools helps the organization operate more efficiently. Strategizing effectively allows IT experts to keep pace with the expectations and requirements of workers at all levels of the organization.
Depending on the specific demands of the business, analytics professionals in IT departments may take on a broad range of tasks. Some focus on mining data to discover emerging patterns, or using predictive analytics to foresee the shifts on their way. Others may concentrate on creating visualizations to report relevant findings to leaders in IT and other decision-makers.
Analytics professionals in IT share a deep understanding of how data is best organized and made accessible, as well as methods for scrubbing potentially misleading errors. They possess essential statistics skills, like working with crosstabs, linear modeling and significance testing. These experts are experienced problem solvers who know how to present data with clear visuals.
Applying analytics methods and tools to human resources (HR) has revealed substantial advantages for workforce planning, talent management and operational improvements. The key is workforce analytics systems, applications that synthesize data from HR with information from a variety of other departments. Using the findings that come out of these methods, the business can come to more informed decisions about how to move forward in managing its personnel.
Data experts in HR offer reports on issues like turnover rates or current expenditures on compensation. They can also forecast how these metrics will develop over the months and years to come. With the information provided by workforce analytics, leaders are then able to make better calls to ensure they have the right employees on staff and that any anomalies with particular workers or departments are addressed.
With the necessary experts, tools and processes in place, the outcomes of using analytics in HR can be extensive. The individuals doing this work may be tasked with a wide variety of responsibilities, ranging from tracking the performance of a group over time to recommending adjustments in the entire organizational structure. In some businesses, big-data tools are catching instances of fraud or providing evaluations of job candidates. These companies need skilled employees to gather, interpret and communicate the relevant information.
When it comes to warehousing and shipping goods, big data has had a seismic impact on how organizations do business. Staying competitive in a world of e-commerce calls for maximizing efficiency by locating and transporting goods as speedily as possible, isolating and addressing any obstacles along the way. Analytics experts provide a leg up to supply chain operations in many different ways, seeking out the areas where an organization can improve how it gets goods to retailers or consumers.
The information drawn from data analysis can guide operational matters like establishing the best route for deliveries in real time, setting up strategic networks and capacity planning. Professionals in the field may also focus on how these efforts affect the customer experience, looking at possibilities for service improvements, ways to manage loyalty and evaluations for risks. They can provide logistics operations with valuable market intelligence and help to establish new models for the organization.
Analytics professionals in logistics design the systems that detect when inventory is low, and can develop algorithms to predict needs for restocking. With visibility and foresight, an organization is better positioned to keep goods readily available and move fast to meet the needs of customers.
Learning the skills to find a place in analytics
Earning a master’s in data analytics from Villanova University gives graduates the strategic awareness and technical proficiency they need to work in many different corporate departments. With the right education, you can tailor your skills to suit a tremendous range of business applications. Find out more and learn how to apply by visiting the program page.
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