Best Business Intelligence & Analytics PhD Programs

PhD in Business Analytics degree programs vary in their specific admissions requirements, but there are some commonalities amongst programs. For instance, many of these degree programs require applicants to take the GMAT or GRE. However, most programs do not require applicants to meet a specific score on these exams. It is also common for applicants to need to fill out the appropriate application with various kinds of supplemental materials. These materials vary by school, but may include items such as letters of recommendation, a statement of purpose, transcripts, and evidence of English proficiency (for international students). Some applications may give students the opportunity to include any publications or scholarly pieces that they are currently working on.

Similar to the admissions materials, the educational and professional prerequisites for PhD programs in business analytics vary by school. Depending on the program, admission may be competitive, so students are often compared by GPA, prior graduate work, and any prior research experience. Most applicants to these programs need to have a master's degree, and some programs may examine students' grades in quantitative courses at the undergraduate and graduate level. Some schools may have a minimum GPA requirement, such as a 3.0 or higher. While programs may not have a specific GRE or GMAT score requirement, some schools may closely examine students' quantitative and analytical scores to see if they are prepared for the program. Usually, these degree programs do not require applicants to have prior work experience, but research experience is commonly preferred.

There are usually two levels of accreditation, regional accreditation and program-level accreditation. Employers tend to prefer to hire candidates who have at least graduated from an accredited institution, as it indicates a level of academic quality. However, those who have graduated from a program that has more subject-specific accreditation may be sought after even more. For example, some PhD in Business Analytics programs are offered in business colleges within a university that hold business-specific accreditation. These colleges may be accredited by organizations such as the Association to Advance Collegiate Schools of Business (AACSB). This means that the business school programs are top quality. For example, less than a third of business schools in the United States earn AACSB accreditation.

Many PhD programs in business analytics are designed to be completed in 4 to 5 years when taken on-campus in a full-time format. This timeline has students completing coursework in the first 3 years of the program and dedicating the last 1 to 2 years to working on their dissertation. However, there are some online PhD programs in the field that allow students to finish in as little as 3 years with some in-person residency requirements.

Coursework for business analytics PhD programs varies by program and the specific focus of the program. For instance, some programs include more courses on subjects such as operations, information systems, or data analysis. Depending on the program, students may be required to complete 54 to 72 credits of coursework. Typically, students have some core courses to take, which include research methods courses, and then some electives. Core courses may include courses in business analytics and other business-related areas, such as management, finance, or marketing. Students may take courses such as analytics and decision analysis, big data warehousing, business analytics and operations, visualization for analytics, and data analytics. Research methods courses may include topics in applied statistics, linear programming, applied multivariate analysis, and more. Some programs allow students to take one or more elective courses to give them the chance to explore other areas of interest.

Preparing Your Business Analytics Dissertation

Usually, after students complete their coursework they must pass a comprehensive exam before they begin working on their dissertation. The dissertation is a big, research-based paper that students must also defend before their dissertation committee prior to graduation. Many of the research methods courses are designed to prepare students for conducting their own research in the field for their dissertation. Typically, students must form their dissertation committee with several faculty members or other professionals in the field. Students have to develop a dissertation proposal that has to be approved by the committee. This proposal includes all the steps and research that the student plans to carry out for their dissertation. Feedback from the committee may help students better prepare for researching and writing their project. Depending on the program and dissertation project, students may take 6 to 15 months to write and prepare their dissertation. The final defense generally includes a presentation.

Business analytics degree programs are widely available at the undergraduate and graduate degree levels. Undergraduate degree programs in the field tend to prepare students for entry-level positions in the field, while graduate-level programs focus more on research and prepare students for advanced leadership positions in the field. Many of these programs are available in flexible formats and help prepare students for the next level of education and/or a professional career. Below, we provide an overview of a few of the available degree programs in the field of business analytics.

Business Analytics Associate Degrees

Associate degree programs in business analytics or business analyst are commonly offered as Associate of Science (AS) or Associate of Applied Science (AAS). Some of these programs are available in online or hybrid formats, generally take 2 years to complete, and commonly require around 64 credits of coursework. Students may take courses in areas such as data analytics, data based marketing, database management, and data reporting. Students also take general education courses that commonly transfer easily to 4-year institutions.

Business Analytics Bachelor's Degrees

Business analytics programs at the bachelor's level are typically offered as Bachelor of Science (BS) or Bachelor of Business Administration (BBA) degrees. In place of taking a degree program specifically in business analytics, some students may decide to double major in a business- and math-related area, such as a finance and statistics double major. However, programs in business analytics at this level begin to teach specialized information for the field and students take courses in areas such as database structures, advanced business analytics, and data mining.

Business Analytics Master's Degrees

At the master's level, students can choose from Master of Business Administration (MBA), Master of Science (MS), or Master of Business Analytics degree programs. Some of these programs can be completed in as little as 1 year and many are offered online. Programs like an MBA with a concentration in business analytics are more general in nature and require students to take a range of business-related courses in addition to business analytics-related courses. Some business analytics programs at this level also carry STEM-designations.

Business Analytics Graduate Certificates

A wide range of graduate certificate programs are available in various areas of business, including accounting, finance, and business analyst. Graduate certificate programs in business analytics commonly require around 12 credit hours and are often offered in online formats. Depending on the format of the program, students may take some core courses and an elective course or two. Students may take courses in modeling, big data, and data mining. Most certificates can be completed in 2 semesters or less.

The interdisciplinary nature of business analytics that combines business, technology, and math provides students with a wide range of career options after graduation. Students with a PhD in Business Analytics can work many of the master's or MBA in Business Analytics jobs available, but they can also pursue advanced positions that may focus more on leadership or research. Graduates may pursue careers involving statistics, such as a career as a statistician, or other positions that combine math and business, such as jobs involving statistics and risk management. Graduates can also pursue a wide range of advanced business careers in research, management, and other areas. Below are just a few examples of possible career options.

Become a Statistician

While there are some positions for statisticians that may only require a bachelor's degree, most positions require a master's degree or above. Statisticians commonly have a degree in statistics, but may also have a degree or prior coursework in other related areas, such as economics, computer science, or mathematics. Most advanced positions in the field do require a doctoral degree.

Statisticians use data analysis to make sense of data and information in a given field. Their work can be applied to a wide range of fields, including business. In the case of business analytics, these professionals use various models to analyze data and help organizations make better educated decisions. Typically, statisticians utilize various software programs to run different models and statistical methods. According to the U.S. Bureau of Labor Statistics (BLS), statisticians made a median annual salary of $92,270, as of 2020.

Become a Top Executive

Graduates with a PhD in Business Analytics may pursue advanced positions within their business or organization that would fall under the category of top executive, such as executive director, operations manager, or president. Top executives have to hold a bachelor's degree at minimum, but graduate degrees are common. It is also typically required that these professionals have many years of professional work experience, usually in their specific area of expertise. Depending on the position, some top executives may hold professional licensure or certification.

The job duties of top executives vary by position, organization, size of the organization, and other factors. However, in general, these professionals are entrusted with higher levels of leadership and responsibility for setting goals for their organization and creating plans to meet these goals. They commonly oversee other staff and may find ways to cut costs and inefficiency. Per the BLS, as of 2020, top executives made a median annual salary of $106,180.

Become a Postsecondary Teacher

Some graduates with their PhD in Business Analytics may desire to conduct research and teach upcoming students in the field as a postsecondary teacher. Most of these educators are required to have the highest level of education in their field, which typically means a doctoral degree, but some smaller schools or positions may only require a master's. Real-world experience in their given field is also a benefit to these teachers, as they can better prepare their students for working in the field. Some postsecondary teachers may hold professional certification in their given field of expertise.

Most postsecondary teachers at a university are required to conduct research in their area of specialization, as well as teach various courses in their field. With research, they may also oversee the work of graduate students. For teaching, these educators have to develop plans and schedules for their courses, as well as assessments and assignments. The median annual salary for postsecondary business teachers was $88,010, as of 2020.

Although it is not necessarily required for a career in the field, students in business analytics may choose to earn professional certification in the field to demonstrate their expertise. Some certifications may also be required or preferred by some employers. For example, the International Institute of Business Analysis (IIBA) offers the Certification in Business Data Analytics (CBDA). Students who are interested in becoming certified must register to take the exam. The exam consists of 75 questions that students must complete in 2 hours. The exam tests students' knowledge in areas such as sourcing data, analyzing data, and interpreting results. Once students have passed the exam and earned their certification, they must renew their credential each year. Recertification requires professionals to earn 20 continuing development units (CDUs) each year and pay the required recertification fee with a recertification application.

Since business analytics can be applied to many different areas, professionals in the field can choose from a wide range of professional organizations to join. Professionals should consider joining these organizations to connect with other professionals in the field, as well as to stay updated on current news and events in the field. Also, these organizations tend to provide professionals with an array of resources for career development and personal use. A couple examples of business analytics organizations include:

• International Institute of Business Analysis- The IIBA is an international organization that offers membership and professional certification in the field. Professionals can also take advantage of several different career resources the group offers and attend events that the organization hosts.
• American Statistical Association- The ASA also offers membership at the individual and organizational levels. Professionals can utilize various statistics resources for educators, have access to publications, and attend different meetings the group holds.

Earning a doctoral degree in business analytics can get expensive as students start to add up the cost of tuition, fees, books, materials, housing, food, and more. Tuition rates and fees vary greatly from institution to institution, so students should carefully research the tuition rate at their desired school and what tuition includes. For instance, some schools charge more per credit hour for out-of-state students than in-state students and often fees are not included in tuition. Although it depends on the school, some in-state students may pay close to $5,000 a year in tuition, while out-of-state students may pay over $15,000 a year in tuition. Students may need to pay additional fees for things such as activities, services, technology, and more. Where students live, transportation, and meal plans may also increase the cost of earning a degree.

The good news is that despite a doctoral education getting pricey, many schools provide financial aid options to students. Students at accredited institutions always have the option to fill out the Free Application for Federal Student Aid (FAFSA) and take out loans offered from the government. However, there are several schools with PhD programs in business analytics that work to provide full funding for PhD students in the program. This funding may come from a grant or other sources, but it typically funds students for 4 years. Often, funding includes the covering of tuition, a monthly stipend, and insurance. Most funding comes with the requirement of serving as a teaching or research assistant.

Students who cannot earn an assistantship or attend a school where it is not an option can also pursue scholarships or fellowships. Many of these awards are offered by schools or outside organizations that have ties to the specific subject area. In the case of business analytics, one fellowship example includes the ACM SIGHPC Computational and Data Science Fellowship. This fellowship is open to master's or doctoral students studying in the field of data science and provides a $15,000 annual stipend.