Why should your MBA focus on data?

Articles

Big data is a big deal across all industries. The right Master of Business Administration program can give aspiring business leaders the skills to turn data into valuable insights and strategies. The online MBA program from the Robert H. Smith School of Business at the University of Maryland, College Park offers flexible learning with this valuable, data-driven approach.

Here’s why data-driven learning can be beneficial for business professionals:

 

 

Turning numbers into actionable insights

When companies utilize big data effectively, they have the resources to outperform the competition with business plans and strategies that are backed by strong statistical evidence. Earning your MBA from Smith’s online program can give you the tools to do just that.

No matter the field, successful business leaders use analytics and research for a variety of reasons, including:

  • Making sound business decisions
  • Creating competitive advantages
  • Predicting consumer behavior
  • Gaining insight into how to proactively market products
  •  Understanding how to effectively target consumers
  • Forecasting market and system changes
  • Preparing to adapt to new technology and digital programs
  • Reporting on performance, processes and campaigns
  • Creating new programs
  •  Establishing new goals and benchmarks
  • Developing new business opportunities
  • Promoting company growth and development

Thus, the way that business professionals look at data and interpret the numbers is critical to how companies operate today. This data leads to such valuable insights because it’s unfiltered information that’s recorded in real time. From overarching business plans to simply selling more products, data is behind everything. With data-driven decision-making, companies can make smarter, informed choices that can lead to success.

Along with the ability to analyze data, the Smith Online MBA program gives you the strong leadership skills to turn the insights into powerful action. You can also learn how to leverage this data to explore various career options.

Mastering data-driven decision-making

As a business professional, you frequently encounter complex problems that require careful, informed decisions. In a digital world where technology is constantly changing, there is rarely a blanket strategy that works for all business problems.

You can learn how and when to use the industry’s leading analytical tools to address problems as they occur. Then, you’ll use the results to come to a conclusion and present your findings. Using effective data storytelling, you can display your insights with visual elements to easily communicate your findings with peers and leadership. Plus, these visual layouts can help you determine trends and prepare for expected outcomes based on the statistical evidence. Finally, you’ll use the data to develop and implement your strategy.

Our experienced professors are among the leading analytical minds in the industry, bolstering this data-driven learning with their own specialties and insights. With their support, you can also gain the analytical insight to make better business decisions.

Knowing what matters most

As a Smith graduate, you can learn how to unpack big data numbers and focus on the aspects that matter most. That means concentrating on the numbers that translate to valuable insights for the company and its consumers. Leaders tend to feel more confident about following business strategies that are backed by these tangible numbers.

Striking a strategic balance

Big data is important, but it’s not the only business strategy that carries such value. Along with these analytical skills, the Smith Online MBA program helps you to build an entire portfolio of business leadership characteristics. When you understand big data and business separately, you can combine the two for the most effective, modern strategies.

Opening professional doors in the digital world

Earning your MBA can be an ideal launching pad for your career, and data-driven learning only adds to your competitive edge. The ability to effectively analyze and interpret data is a highly marketable skill that is in increasing demand across industries, including global insurance firms, marketing and advertising agencies, tech spaces and financial services. Several prominent recruiters shared this sentiment with BusinessBecause, driving home the point that data analytics skills are of critical importance for job security in a digitally-driven society.

Companies expect to hire MBA graduates who can effectively use data to evaluate market trends and create strategies with far-reaching results for sales and business growth. They will look to you to integrate new technologies with existing business plans, as well as refresh strategies to keep up with competitors and the ever-changing digital world. With the data-driven decision-making skills you can develop through Smith’s Online MBA program, you can meet these expectations and lead companies to success. If you pursue your own endeavor, you can apply your skills to build your own business strategy and make the savvy decisions to reach — and even surpass — your goals.

The Smith Online MBA program sets you up with skills that are in demand across all industries. Ready to build your competitive portfolio and resume? Reach out to an advisor to learn more about enrolling in the Online MBA program from the Robert H. Smith School of Business at the University of Maryland.

Recommended Readings:

The value of data in business
4 ways an MBA can help with an entrepreneurial career
What you need to know about an online MBA degree

Sources:

Online Master of Business Administration by University of Maryland
Big Data Analytics Skills Become More Important to MBA Recruiters by BusinessBecause