Prospects of Masters in MIS and Business Analytics in USA
Business Analytics-Management Information System is a full time course. If you want a specific job oriented program then there are a number of programs available which thoroughly teach you every topic in detail. Both the profiles are one of the highest paying profile and top companies hire candidates from these backgrounds.
What is Management Information System?
Management information system, or MIS, broadly refers to a computer-based system that provides managers with the tools to organize evaluate and efficiently manage departments within an organization. Well speaking in simpler terms, MIS enables you to learn skills that relate to the intersection of IT and business. It is a people-oriented field with an emphasis on service through technology.
Management Information System is more than just writing codes or programming.
A large portion of the MIS degree focuses on analysis, teamwork, leadership, project management, customer service, and underlying business theories. MIS students learn how businesses leverage the power of information to improve the
person who understands its responsibility clearly is able to handle the complex
business problems smartly. There are various private universities and colleges
which offer a full-time course on business analysis for the students. If you
want a specific job oriented program then there are a number of certification
programs available which thoroughly teach you every topic and business
analytics tactics to make you ready for the organization.
Why pursue MS Management Information System?
The amount of information available to any business can be leveraged to make better-informed decisions depending on the company’s objectives. Information retrieval methods are ever-evolving. A business strategy, therefore, has become heavily dependent on the effective use of information. Having an understanding of how technology can assist business strategy goals can help move your career into a managerial role. For instance, many executive-level positions, like Chief Information Officer or Chief Technology Officer, require individuals to have a technical background. Additionally, the emphasis will prepare students for an increasingly compliance and security intensive environments due to the integration of IT.
Who should pursue a MS in Management Information System?
Despite MIS being an interdisciplinary field, historically most students are from Computer Science and Business majors. People who not have sufficient work experience and budget for the MBA or are not much into codes, statistical modelling, but want to pursue management or consulting roles within the technology domain, MS in MIS will be the perfect fit for them. Though experience is not mandatory, some universities may suggest that you have some experience before applying.
Job Prospects and Salaries after MS Management Information System.
Typical job profiles for MS MIS graduates include Business Analyst, Business Application Developer, IT Consultant, Systems Analyst, IT Development Project Leader, Database Administrator, Business Intelligence Analyst, Systems Developer, Database Analyst, Web Developer, Network Administrator, Technical Support Specialist, Information Systems Manager, IT
User Liaison and so on.
The average salaries.
Considering that MIS degrees are usually classified as STEM degrees, international students have a better chance of obtaining work visas as they would be eligible for 36 months of OPT as compared to only 12 months of OPT for MBA graduates. Although the average salaries are around USD 60,000, MIS graduates from top universities can earn around USD 80,000 annually. The US Bureau of Labor Statistics (BLS) places the median salary of Computer and Information Systems Managers at $139,220
What is Business Analytics?
BA is, methodical exploration of an organization’s data, with an emphasis on statistical analysis. Business analytics is used by companies that are committed to making data-driven decisions. Data-driven companies treat their data as a corporate asset and actively look for ways to turn into a competitive advantage. Successful business analytics depends on data quality, skilled analysts who understand the technologies and the business, and an organizational commitment to using data to gain insights that inform business decisions.
Why pursue a Masters in Business Analytics?
Business Analytics aids an organization to tackle the data and utilize it to find new opportunities. This leads to more smart business moves, higher profits, efficient operations, and happy customers. Data generation occurs across several platforms. If it gets wasted, lots of valuable information will be lost. Previously, skilled analysts were required for processing the data. These days there are tools used for high-speed data and this helps in incorporating the analytics at the time of making decisions. Social media has enhanced data growth in the organization and thus changes can be made based on that.
Even for small business owners, analytics will be imperative shortly in future. Today, small business leaders have often felt left behind by the growing acceptance of analytics, fearing that their workforce, customer base, or operations are too small to justify the cost. This view is understandable, but it is shortsighted. Given the volatile nature of their ROI, small business leaders will need to manage their budget to fit in analytics.
Who should pursue a Masters in Business Analytics?
Basically, there are 3 types of business analytics- descriptive, predictive and prescriptive. It uses tools like statistics, Machine learning, NLP, R, Python, Hadoop, etc. to understand the present state of a business, analyze trend data to assess the likelihood of future outcomes and generate recommendations about how to handle similar situations in the future. So, people who are heavily data-driven like programming have a keen interest in working with different tools of business analytics.
Job Prospects and Salaries after Masters in Business Analytics.
With the increasing popularity of Big Data, the business analytics roles are also gaining huge traction among various all the industries. There is a huge requirement in financial services, technology, internet, healthcare, travel, media etc. to gain a competitive edge.
Here are a few careers in which master’s in Business
Analytics graduates can gain an edge: Management Analyst, Operations Research Analyst, Marketing Analyst, Data Scientist and other Big Data Jobs and Other Careers of Interest mathematicians and statisticians, logisticians, and market research analysts. Considering that MIS degrees are usually classified as STEM degrees, international students have a better chance of obtaining work visas as they would be eligible for 36 months of OPT as compared to only 12 months of OPT for MBA graduates.
According to the 2018 Corporate Recruiters Survey Report by GMAC, 71% of employers plan to hire recent business school graduates for data analytics roles in 2018, including 52% holding Masters Degrees in Data/Business Analytics. According to Forbes, worldwide Big Data market revenues for software and services are projected growth from $42 billion
in 2018 to $103 billion in 2027. According to the US Bureau of Labor Statistics, 115,200 new management analyst jobs will be created between 2016 and 2026. Management analysts will have estimated job growth of 14 % until 2026 and had cushy median salaries of US$82,450 in 2017.