What is the difference between Data Analytics and Business Analytics?
Differentiating between Business and Data Analytics can be a source of confusion for many people– what exactly is the difference between Business and Data Analytics?
Yes, they both deal with data; but how they collect data and what they do with it, separates the two.
Although business analysts and data scientists are both data focused roles, and their roles are complementary, they do differ.
What is a Business Analyst?
Business Analysts are more concerned with the business implications of the data and the actions that should result.
The responsibilities of a business analyst vary depending on the industry, but at their core require analyzing data and using that data to inform important strategic decisions that improve the overall revenue or efficiency of a business.
For example: should the company invest more in one project over another?
Business analysts are looking to leverage the work of data science teams to communicate informed insights and help frame potential solutions to these types of real-time business decisions.
On a more granular level, during a typical day business analysts might perform the following functions:
A business analyst might review data about work habits, talk to coworkers about technological challenges, and find ways to address those challenges. They typically (but not always) work closely with IT teams. In general, they work more collaboratively than data analysts.
What is a Data Analyst?
Data Analysts sift through data and provide reports and visualizations to explore what insights the data is hiding.
Data analysts then pass this data over to other teams who are responsible for interpreting this data and utilising the data in a real-time business context.
Data analysts turn numbers into stories. They spend the majority of their time looking at data and creating reports that show what insights are hiding in the data. While they present their findings to different teams, they tend to work more in silo than their business analyst counterparts.
On any given day, a data analyst might:
Conduct consumer data research and analytics
Work with customer-centric algorithm models and tailor them to each customer as required
Extract actionable insights from large databases
Perform recurring and ad hoc quantitative analysis to support day-to-day decision making
Support reporting and analytics, such as KPIs, financial reports, and creating and improving dashboards
Help translate data into visualizations, metrics, and goals
Write SQL queries to extract data from the data warehouse
Data and Business Analytics Courses at DBS
DBS offers postgraduate qualifications in both:
MSc in Data Analytics
MSc in Business Analytics
What are the Requirements for an MSc in Data Analytics?
Data analysts are more numbers-oriented than business analysts. They typically have an undergraduate degree in a STEM (science, technology, engineering, mathematics) category or with programming, computer modelling, or predictive analytics experience. An advanced degree is an added bonus, but is not required.
What are the Entry Requirements for an MSc in Business Analytics?
Most business analysts have an undergraduate degree in a business-focused field such as business administration, finance, or economics.
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