Accurate data in business means the difference between a company reaching its goals or staying in the red. Having a realistic idea of how an organization is performing can help companies capitalize on winning trends or pivot to improve their quarter.
Data analytics and business analytics work together to help organizations and businesses make informed decisions. The two facets of data analysis play distinct roles in practice, and understanding the various goals of each is essential for a career in big data.
It’s no wonder, then, that these critical roles are in high demand and the industry is moving at lightning speed. But which role is right for you? Which suits your background, education, and goals? Determine your right-fit path by exploring the distinct differences between data analytics and business analytics.
What is Data Analytics?
Data analytics is the process of collecting, organizing, cleaning and presenting data to stakeholders. In short, data analysts are storytellers, using numbers and facts to show the impact of an organization’s efforts, whether those efforts are put toward business goals or something broader.
The work of data analytics lies in finding trends and patterns within data, then analyzing that story to help an organization make better decisions: staying on course or shifting directions. The field of data analytics supports a wide range of industries, including businesses, hospitals and education systems.
Wherever there is data, skilled analysts are needed to interpret it and extract a meaningful message from the results. Data analysts can use machine learning and algorithms to identify patterns in data, and they apply their skills to find and communicate these patterns to their clients.
What is Business Analytics?
Business analytics also works with data, analyzing it and bringing stories out of the numbers, but its primary focus is on how that data changes businesses and their strategies. Analysts in this role utilize various data points to make practical, data-driven business decisions and assist their organizations in implementing changes based on their research and insights.
A business analyst must understand the business’s needs and priorities and provide strategic recommendations forward based on collected data. This field of data analysis is focused on extracting data directly from a company’s performance and turning those insights into strategic, actionable steps for the organization.
How Are These Branches of Data Analytics the Same?
For professionals to succeed in this field (and for their clients or companies to gain lasting value from their contributions), they must have strong analytical skills, be proficient in SQL and other programming languages and be able to interpret data and provide insights. Both aspects of data analysis require excellent communication skills, which help analysts translate the data they find into understandable facts for their peers who may not be as familiar with the data.
The two branches may collaborate on tasks or projects for their company, especially those involving customer segmentation, sales forecasting, process optimization and other areas informed and affected by data.
What is the Difference Between Business Analytics and Data Analytics?
While both business analytics and data analytics work with data, the way they utilize that data differs. Business analysts use data to help organizations make more effective business decisions, sometimes as full-time employees of a business and working with them to enact any pivots.
Data analysts are more interested in gathering and analyzing data for the business to evaluate and make decisions about on their own. For business analysts, the data they find is a means to achieving better business strategies. For data analysts, the data itself is their focus, and they spend time evaluating it.
Business analysts use software and coding languages to analyze data and forecast future trends that can impact a company, while data analysts focus on current data that can be leveraged to make informed decisions with quicker implementation. In this way, business analysts work with companies to look at the long term as a partnership with the data. In contrast, data analysts focus on short-term, immediate changes that the data informs an organization to make.
What Practical Skills are Needed in Data Analyst and Business Analyst Roles?
Data Analyst Skills
Successful data analysts possess the following skills:
- Proficiency in SQL for querying and organizing databases
- Fluency in Python and other programming languages
- Experience in data mining and statistical analysis
- Proficiency in data visualization and transparent reporting
- Proven problem-solving skills
Business Analyst Skills
Business analysts who will make a difference for their organization must have:
- Strong communication skills
- Experience with SQL querying of company databases
- Proficiency in interpreting data and providing insights
- Proven critical thinking and problem-solving skills
- Strengths in process improvement and project management
Pursue an MS in Business Analytics at Ashland University
At Ashland University, we prepare business leaders, equipping them with the practical tools they need to expertly analyze data. The Master of Science in Business Analytics program directly prepares students for advanced entry into a career as a Business Analyst or Data Scientist. We equip students with data analytics and business intelligence skills, including analytical modeling, forecasting, predictions and machine learning. The primary focus of the program is teaching advanced analytical applications and methods using relevant software packages.
Our in-person program caters to both early-career professionals and those transitioning into new career paths. It focuses on the application of data management and analysis using modern computing, coding methods and preparing to integrate future technology into the data cycle. The master’s degree is worth it for those wanting to advance in this lucrative industry.
Ashland University's M.S. in Business Analytics is STEM-designated, a recognition of its focus on science, technology, engineering and mathematics.
To learn more about our program and where it can take you, download our Business Analytics Guide. You can also request more information or start your application.
