September 5, 2016
In today's technology-driven world, businesses looking to boost efficiency and grow profits are turning more and more to one important resource: data. From marketing and sales campaigns to product and service development, many areas of business across in many fields can benefit from data-driven decisions supported by quantitative analysis.
The ability to analyze data and use it to make smarter business decisions can mean the difference between a company's success and its failure. As data becomes easier for businesses of any size to collect, more companies are looking for employees trained in quantitative analysis and data analytics to help them make the best use of this information.
Whether you're already working as a data analyst or are just beginning to explore a career in big data, an online MBA in Quantitative Analysis from Southern New Hampshire University (SNHU) can give you the skills you need to turn hard data into better business practices and higher profits, and prepare you to succeed as a decision-maker in any layer of business.
Quantitative analysis uses mathematics, probability, statistics and computer science to analyze consumer data to better understand consumer behavior and make use of these findings to make smarter, more strategic business decisions.
As consumers spend more time online researching, buying and discussing products and services, businesses of all sizes and industries have more access than ever to customer data - from their preferences and interests to their shopping and spending habits.
But data alone is not enough to increase a business' profits. As a quantitative analyst, your challenge is to use mathematics and statistical tools to leverage that data and find trends to inform future business decisions.
Businesses can use quantitative analysis to predict economic changes, plan personalized marketing initiatives based on a customer's previous purchases and even to drive the creation of new products or services.
These smarter, data-driven decisions can boost company profits by identifying practices that do not produce the desired results, helping to save money and using consumer information to personalize the buying journey and increase sales.
As the data available to companies continues to grow, so does the demand for skilled quantitative analysts to turn consumer information into profit. An online MBA in Quantitative Analysis from SNHU can help you get the skills you need to meet that demand.
According to a recent Forbes article, research released in January 2016 by the Economist Intelligence Unit found that 88 percent of businesses polled thought data was "very important" or "vital" to the success of their organizations. Sixty percent of those polled said data is generating revenue within their organizations, while another 83 percent said it was making existing services and products more profitable.
Still, while companies value the impact that quantitative analysis can have on their ability to acquire, convert and nurture customers and increase profits, many business leaders aren't sure how to best use the data they acquire.
Nearly 50 percent of respondents in the Economist Intelligence Unit study said they felt their organizations had failed to fully capitalize on their consumer data, while 69 percent had considered setting up a dedicated internal data and analytics unit to focus more efforts on quantitative analysis.
Earning an online MBA in quantitative analysis from SNHU can ensure you have the right balance of strong mathematical skills, understanding of statistical tools and broad-based business knowledge to meet the growing analytical needs of today's markets and lead your company to better, data-driven decisions.
An MBA is a highly sought-after degree for the flexibility it offers students. The online MBA from SNHU is an ideal program for students who are seeking broad-based business knowledge that can be applied across a wide range of industries. Courses in management and strategy can help you become a stronger leader and prepare you to take on leadership roles in your own company or in an existing job.
For students interested in quantitative analysis, the MBA offers a strong foundation of business skills and knowledge to inform your analysis of consumer data, from business law and ethics to marketing, communications and financial management.
While working toward your online degree in quantitative analysis, you'll explore the mathematical and statistical tools available to collect and analyze data. You'll also gain a working knowledge of commonly used operational research techniques and will learn how to combine these techniques with spreadsheets to model, predict and solve a wide variety of business problems.
Through courses in financial management, organizational leadership and company culture, you'll learn to excel in business communication, serve as an effective team member in collaborative efforts and make ethical, economically responsible decisions as a business leader.
As a student in the quantitative analysis degree program, you'll get the unique opportunity to gain real-world analytical experience as you learn, and see first-hand how quantitative analysis can be used to make better business decisions.
Program instructors are experts in their fields, and have years of practical experience using data to drive business decisions. Your instructors will help guide you as you move through the MBA program and are there to assist you as you complete each course.
Kazue Goto '15 said it was this support from highly-skilled instructors she found most helpful during her time in the quantitative analysis program. "University staff make our lives much easier by providing constant encouragement and reliable support," Goto said. "The professors are very inspiring and all students are taught up-to-date topics, while being instructed through highly-advanced teaching methods."
While studying quantitative analysis at SNHU, you will also have the unique opportunity to complete an MBA capstone project. The project runs throughout the entire MBA program, incorporating learning from each new course - from finance and accounting to marketing and strategy - and applying that knowledge to real world challenges.
As a student in the quantitative analysis MBA, the project will challenge you to utilize data to solve a problem currently facing your organization or company.
By the time you've completed with quantitative analysis degree, you will have a data-driven plan to boost your organization's efficiency and increase profits that can be immediately applied to your current organization or help you stand out from other applicants when applying for analyst jobs.
SNHU is proud to offer some of the most affordable tuition rates in the nation, and has not raised its tuition rates for the past four years. And the online MBA program offers the unique opportunity to learn and study at your own pace, and earn your advanced degree even while working a full-time job.
The application process for the online MBA program is simple and can be completed in as little as two weeks, and no GMAT or GRE is required for admission. You can complete the MBA program in as few as 15 months by taking two courses per 10-week term.
Because the quantitative analysis degree program is online, you can attend class when it's convenient for you. Online education means you have 24/7 access to your coursework and assignments and are able to work at your own pace, while consistent weekly assignment deadlines will help you best manage your time and stay on track.
With growing focus on big data for business success, number crunching and data mining will not be enough. Successful business analysts will need a strong understanding of management and business to effectively leverage the power of big data to make more profitable business decisions.
As a quantitative analyst you'll enter an emerging field with plenty of opportunities for future growth across nearly every industry. The use of data analysis to drive business decisions is still a new concept for many businesses, and as technology continues to develop, and more consumer data is able to be collected, the demand for workers trained in quantitative analysis will also grow.
Even among companies that are already using data to plan for the future, an employee trained in quantitative analysis can bring a unique set of mathematical and statistical skills to this process.
Want to see yourself succeed in quantitative analytics? Don't wait to learn more about an online MBA in quantitative analytics. Contact the SNHU Admissions team today to learn about how to start your degree.
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Timothy Woodward grew up in a small town in the White Mountains of New Hampshire. He earned Bachelor of Arts degrees in film and writing in California and an MFA in Fiction from SNHU.