What Industries Use Data Analytics?
If you’re thinking about getting a master’s degree in data analytics, you may be wondering what type of industry you would be working in. That’s a great question, and the answer to it is even better.
The advent of the internet, smartphones, social media and other technologies have led to the generation of an immense amount of data. Just how much data is out there? A lot. Over 90% of data has been created in the last two years. It’s estimated that 1.145 trillion MB are created each day. Put another way, each person creates 1.7MB of data per second. Research published by Seagate reports that by 2025, around 175 Zettabytes of data will be generated annually.
With so much data available, organizations across every industry are wondering how they can leverage their data to make better decisions and plans.
How is Data Analytics Used in Different Industries?
As the amount of data increases, industries from sports and travel to finance and healthcare are adopting methods to analyze, monitor and store data. Industries look to data analytics for insights into such areas as enhancing customer experience, gaining a competitive advantage, improving conversion rates and identifying new customers, among others.
Want to take a closer look at the ways data is being used in different industries? Here are some of the industries using data analytics to change the way they do business, according to Analytics Insight.
From smart wearable technology (used to track and detect health conditions) to increased precision in the diagnosis process, the use of data analytics is helping reduce the risk of health issues and directly impacting the way healthcare works.
Insights from collected data can help identify better teaching methods, show where students may not be learning efficiently, and help plan more efficient school bus routes.
Professional sports are using the power of data analytics to help athletes perform better. Cameras and sensors help break down individual form and movement so that they can be improved.
The Securities Exchange Commission (SEC) uses data to track movements in the financial markets, making it easier to identify illegal trade practices. Data is used to analyze high-frequency trading, pre-trade decision-support analytics, sentiment measurement, and predictive analytics.
Media services such as Netflix, Apple, or on-demand music service Spotify use data analytics to give customized video or music recommendations to users.
Data analytics is used to mitigate fraud, offer customized products, and improve user experience.
The transportation industry uses data analytics to control traffic, optimize route planning, create intelligent transport systems, and manage congestion.
Real estate companies are using data analytics to better project property values and trends and to better understand customers and markets. Property managers are using data collected from their building systems to optimize performance and streamline maintenance.
Earn a Master’s in Data Analytics to Gain the Skills You Need
No matter the industry, organizations are looking for skilled workers who know how to analyze data and report insights. To gain those skills, most people earn a master’s in data analytics.
Take a look at Stonehill’s Data Analytics Master of Professional Studies Degree Program.
The program is based on a 12-month executive (low-residency) format. Each cohort begins the program together in the fall. Classes occur over a full calendar year, with graduation taking place the following August.
Courses in the program are delivered using a hybrid model of in-person and online coursework. It combines online with in-person instruction that brings students together on campus about one weekend a month. Students also attend a three-day intensive residency at the start of each semester.
Weekend residences begin Friday night. Students have dinner with faculty and other members of the cohort, before attending an evening class. On Saturday, the day begins with a cohort breakfast, followed by morning class, group lunch and afternoon class before heading home around 4 or 5 p.m.
The cohort model allows students to discuss best practices, talk about the challenges they face in their jobs, and share how they're putting into practice the skills they learn throughout the program.
Take a look at some of the courses taught to get a feel for the type of skills you’ll learn:
- Data Analytics: Tools & Concepts
- Statistics for Data Analytics
- Structured Data Analytics Using SAS
- Database & Data Warehouse Concepts
- Visualization and Digital Storytelling
- Big Data Management
- Security, Privacy, and Ethics in Data Analytics
- Emerging Topics in Data Analytics
- Major Field Project/Capstone
In addition, a partnership with SAS, a trusted analytics powerhouse, gives graduate students a valuable suite of resources and a competitive advantage in the marketplace.
SAS has granted Stonehill the ability to award a Tier 3 SAS Academic Specialization as part of the College’s Data Analytics Master of Professional Studies Degree Program. It’s the highest level of credential that SAS offers its academic partners.
Students who complete the 12-month accelerated program receive both a master’s degree and this academic specialization, affirming their technical expertise in conducting advanced data analysis in various SAS products. Students also have the option of pursuing up to two professional certifications.
Earn a Master’s in Data Analytics. Go Anywhere.
A study performed by Accenture, one of the world’s largest consulting firms, found that over 90% of their clients have data analytics goals in their strategic plans. However, when it came time to hiring employees with these skills, over 60% of searches failed.
By earning a Master’s in Data Analytics, you’ll gain the skills necessary to enter pretty much any industry you are interested in. And because data is here to stay, you’ll also enjoy a high rate of job security once you get there. Now that’s a smart choice.