Business analytics analyzes data and information to make business decisions, such as strategic planning or optimizing financial performance. It’s an exciting and growing field that will only continue to grow in influence over the next decade as it grows more widespread. Technological advances make it easier to collect, analyze, and interpret data. To pursue this field successfully, you’ll need to choose the right career path that fits your strengths and interests. To get you started on this decision-making journey, here are the top 10 business analytics careers for you to consider in 2022.
1. Business Analyst
Business analytics careers are the future. Business analysts help make sense of business data and can use the information to inform decisions for the company. You would analyze various aspects of the company’s operation as a business analyst. The tasks may range from understanding how customer behavior contributes to sales to evaluating market trends and competitor analysis.
This is a great career path if you’re interested in technology or mathematics because it will give you an inside look at how companies make their business decisions. Suppose you want to get your foot in the door. In that case, many different paths can lead here, including working as an intern or starting as a project manager before transitioning into a business analyst position.
According to Glassdoor, the average salary for a business analyst with 2-4 years of experience is $81,000. The average salary for a business analyst with 1-2 years of experience is $66,000.
2. Data Analyst
Data analysts are among the most sought-after positions in business analytics careers, and salaries are high enough to make it worthwhile. Data analysts analyze data and determine patterns, trends, and other connections to help make decisions. This is usually done through various software packages, such as SPSS or SAS. Data analysts can be found in various industries, such as finance, healthcare, pharmaceuticals, and retail.
They use data collected through surveys, social media, databases, and more to find patterns and correlations. Data analysts may also be tasked with developing statistical models or analyzing the results of experiments.
To become a data analyst, you typically need a bachelor’s degree in mathematics or statistics, strong computer skills, and an understanding of statistical techniques and models.
Data analysts can expect to earn $85k a year, on average. A degree in statistics is preferred but not necessary.
3. Data Scientists
If you want to get creative with data, you’ll love this position! A typical day for a data scientist might include combing through customer data to see which marketing messages work best or trying out new machine-learning algorithms and seeing what they come up with.
The downside? It’s difficult to know how much money you’ll make because salaries vary widely from company to company. Some employers will provide equity shares in the company as part of their salary, while others might offer bonuses. Salaries typically range between $75k and $150k a year, depending on experience level, location, education, and certifications. A background in mathematics, computer science, or economics is helpful when pursuing a career as a data scientist.
4. Business Intelligence Analyst
In a world of information, business intelligence analysts are at the forefront of connecting the dots. They collect and analyze data from various sources to find patterns and predict future trends. Furthermore, they use their statistical analysis and predictive modeling knowledge to provide insight for strategic business decisions.
If you are interested in pursuing a career as a business intelligence analyst, then know that this is one of the top 15 careers in 2022, with an average salary of $105,000 per year. Salary ranges from low ($70,000) to high ($135,000).
To be successful in this field requires good quantitative skills and strong analytical abilities. When applying for jobs, companies will often look at your GPA, relevant coursework completed in school, or any degrees you have completed. The main languages used within these positions include SQL (Structured Query Language), R (programming language), SAS (Statistical Analysis System), Python, and SPSS (Statistical Package for the Social Sciences), so make sure these programs are a part of your resume if possible.
5. Operations Research Analyst
Business analytics careers are more prevalent than ever, so you must know your career opportunities. Many business analysts work in operations research and ensure that a company’s operations run smoothly by analyzing supply chain, production lines, and inventory data.
Operations research analysts typically have an engineering or math background. Operations research analysts apply mathematical and statistical methods to solve business problems. This includes everything from forecasting and strategic planning to evaluating marketing strategies. Analysts may be tasked with predicting the future, modeling how systems operate or maximizing profits.
There’s a high demand for these jobs because only some people have the necessary skillsets to fill them. This is a more popular business analytics career because you’ll work closely with decision-makers in various industries and company sizes. They typically hold mathematics, physics, or engineering degrees and have a median salary of $78,000. This is one of the more traditional business analytics careers on our list.
6. Market Research Analyst
Business analytics or business intelligence careers are a way to use data to solve problems. Market research analysts are professionals who provide insight into consumer behavior and preferences. They measure the market through surveys, focus groups, and experiments. Market research analysts often present their findings to retailers and product manufacturers to help them make more informed decisions about what to sell or produce next.
To be successful at this job, you will need excellent communication skills, a keen eye for detail, and a willingness to travel. You may also be required to take on a business analyst role at some point as you continue your career. A market research analyst topped the list of best-paying jobs in America for the first time. A market research analyst makes an average annual salary of $108,000.
7. Management Consultant
Management consulting is an excellent option for those who want to help businesses make more intelligent decisions with data. Management consultants advise and consult with large corporations, governments, or non-profit organizations.
They are often called upon to assess the best strategies for improvement. They also do organizational development, feasibility studies, and research on potential new products and services.
Management consultants typically possess at least a Master’s degree in business administration with a specialization in management consulting or an MBA with a concentration in management consulting from one of the top-ranked schools. A Ph.D. is also preferred but not required for this position. The median pay for management consultants is $90,000 per year.
8. Statistician
A statistician is one of the top business analytics careers you should pursue if you are interested in using mathematical and statistical analysis to collect, analyze, and interpret data.
This job requires a minimum of a master’s degree in mathematics or statistics with an undergraduate degree in math, statistics, or another quantitative field. Statisticologists use sophisticated methods and techniques to identify patterns within data that may not be obvious to the naked eye. They also help businesses make informed decisions by uncovering hidden trends within their data sets. A statistician can work for the government, private companies, universities, or research institutes and act as an independent consultant on a contract basis.
Statisticians are expected to earn a median salary of $84,600 per year. However, the top 10% of statisticians can make $148,000 or more.
9. Product Manager
Product management is a major part of the business analytics career. Product managers are tasked with researching, analyzing, and testing products before they are released to the public. They also need strong communication skills to communicate effectively with internal teams, clients, and other stakeholders.
Product managers are also responsible for understanding customers’ needs and translating those needs into new products. They work with marketing to identify customer personas, analyze market trends, and monitor competitors’ actions. This project management role ensures that products are on-target and sell well.
Product management is a fast-growing field and will continue to be so as more companies invest in digital product offerings. There’s no telling what kind of technologies will come out next, but being a product manager means you’ll be at the forefront of figuring it out. The median salary for a product manager is $132,000.
10. Supply Chain Analyst
A supply chain analyst is a person who assists the company with maximizing profitability and optimizing the flow of goods and services. It is increasingly important for businesses to have a robust supply chain that can support the needs of their customers. Supply chain analysts are tasked with developing models and strategies for creating this supply chain. They use data from a company’s materials, suppliers, and transportation systems to optimize the flow of goods to their final destination. This requires analytical and excellent communication skills as these professionals need to work with people throughout the supply chain who may need an analytics background.
They often work with the marketing department to research where the company can increase sales. A supply chain analyst might analyze inventory management, production capacity, demand forecasting, or logistics data. The median salary of a supply chain analyst is $82,890 per year, and demand for these professionals is expected to grow by 21% over the next decade.
11. Chief Technology Officer
A Chief Technology Officer (CTO) is a company’s top-level information technology decision-maker, and their duties typically include overseeing all IT operations. With this responsibility, the CTO may work closely with the CEO, CFO, and other senior executives to develop strategies for IT projects and major initiatives. A CTO may also be responsible for developing new technologies to help their company compete effectively.
Becoming a Chief Technology Officer is one of the best career options. It’s becoming more common for larger businesses to have this position, and they’ll need talented individuals to fill it. With an intense focus on data, these leaders help make decisions that affect the company with their unique perspectives and experience.
The top business analytics careers in 2022 will include Chief Technology Officers who are adept at delivering innovative solutions that drive competitive differentiation by solving problems that are not easily solved today. After all, Chief Technology Officers live and breathe innovation and transformational change, making them invaluable members of any organization.
A Chief Technology Officer is one of the highest-paying jobs on this list, with an average salary of $135,000.
12. Marketing Analyst
Business analytics careers are growing exponentially; by 2022, this career is expected to be among the top ten fastest-growing business analytics careers. A marketing analyst gathers and analyses data to create reports, which are then used to make business decisions. Marketing analysts can be found in almost any industry, emphasizing consumer goods and services.
They may work directly for the company they analyze or as a consultant for other companies. They typically use statistical techniques to analyze consumer trends, retail sales figures, and other business data. To make sense of data sets, marketing analysts must have an advanced understanding of statistics, mathematics, analytics software, and database technologies.
Business analytics careers are set to become more prevalent over the next few years as businesses increasingly seek professionals who can provide them with expert insights into consumer behavior.
A marketing or market research analyst typically earns between $50,000 and $150,000. Salaries vary depending on the company’s size and the employee’s work experience.
13. Hr Analyst
An HR Analyst is a person who examines data, records, and other sources of information to determine staffing needs. They often work for private or public businesses but can also work for nonprofit organizations or government agencies. These professionals typically work with job descriptions, employee performance and training needs, organizational structures, and policies.
Business analytics careers are all about collecting, analyzing, and presenting data to understand the needs of your company or organization. HR Analysts do this by looking at organizational charts, employee salaries, human resource files, and more. They then present these findings to senior management, who use them to make strategic decisions that will help optimize their employees, customers, and the business overall.
14. Financial Analyst
A Financial Analyst is a person who analyses financial data and provides reports to management. They are usually at the forefront of any business and work closely with other departments to ensure that they accurately picture the company’s financial situation. Their duties include analyzing earnings, preparing budgets, forecasting future costs, managing accounts receivables, and more.
There are two main types of Financial Analysts: Public Accountants and Corporate Accountants. A Public Accountant handles taxes for individuals and small companies, while Corporate Accountants handle taxes for larger companies. If you want a career as a Financial Analyst, you will need strong analytical skills, an eye for detail, good communication skills, and the ability to meet deadlines.
There is a high demand for qualified people in this field, so if you can demonstrate your qualifications on your resume and cover letter, then you should be able to land one of these coveted positions.
The median salary of a financial analyst is $87,000. This is the average pay for someone in this position and can vary depending on experience, employer, or location.
15. Data Architect
A data architect is a person who directs and coordinates data management within an organization. As a data architect, you are responsible for data-driven decision-making.
Data architects create a blueprint that defines how information should be structured, where it resides, and how to ensure it’s protected.
Data architects typically spend their time building and maintaining the database structures that support an organization’s databases. They design schemas and models to store all the relevant data, including structured and unstructured information. Data architects work closely with business analysts to analyze datasets, evaluate how they should be organized, and identify issues if they arise.
As a result, data architects must be ready to stay ahead of the game by constantly learning and gaining new skills that make them more competitive for the latest jobs. Not surprisingly, they’re always looking for new ways to store information because of ever-changing technologies and increased regulation mandates. Data architects are some of the highest-paid professionals in analytics, with an average salary of $130,000.
Conclusion
Business analytics careers have become one of the fastest-growing sectors within the United States economy and are projected to continue growing steadily over the next few years. With this growth come many employment opportunities that offer high salaries, flexible work schedules, and excellent benefits packages.
With the rapid growth of business analytics, jobs requiring this skill set are rising. This trend is expected to continue into 2022 and 2023, so it’s essential to start learning now to be prepared for these careers. If you need help getting started, we’ve compiled a list of the top 15 business analytics careers you should pursue to prepare for this growing industry.
So what’s your take? Are business analytics careers the perfect fit for you? If so, don’t wait to get started. Many career opportunities are available, and it’s never too early to get your resume updated with the skills, experience, and education necessary to succeed. Happy hunting!
