You’ve probably heard about getting a master of business administration, also commonly known as an MBA, but did you know that you can pursue a master’s in data analytics?
This postgraduate course is an inter-disciplinary programme open to working professionals who want to learn how to leverage statistical data to gain insights that will drive business planning.
If you’ve been thinking of continuing your studies, or are simply searching for a suitable course to take, here are three reasons why you should consider both the field of data analytics and the Master of Analytics programme offered by PSB Academy!
1) Data Analytics skills continue to be highly sought after today
In a recent survey[i] conducted by NTUC LearningHub, which looked at the skills necessary for companies to survive the Covid-19 pandemic and beyond, data analysis skills were amongst the top 3 digital skills coveted by employers in Singapore! These employers hail from a wide range of sectors, ranging from the manufacturing and built environment sectors to the professional services and lifestyle sectors.
The Singapore Government has also recognised the need to build a digitally-ready workforce to achieve Singapore’s Smart Nation vision[ii], and has led the way by training public service officers in data analytics and visualisation since 2017[iii].
All these show us how data analytics skills are becoming a must-have in today’s workplace, and why you should consider upskilling with the help of relevant data analytics courses!
2) A strong data analytics skillset will give you confidence and an edge over your peers
Here’s the truth: most employees, regardless of industry or job role, do understand and appreciate the importance of data in the workplace. Despite this, however, they are facing a data literacy gap.
In a research study commissioned by Qlik, a software company, and Accenture, a multinational professional services company, it was discovered that only 21 percent of the global workforce are fully confident in their data literacy skills[iv]. That’s not all: only 25 percent of employees felt fully prepared to use data effectively when entering their current role, with 74 percent of employees feeling overwhelmed or unhappy when needing to work with data.
According to the research, this workplace stress leads to companies incurring productivity cost and in Singapore, this amount costs the economy SGD$5.1 billion each year!
Needless to say, a strong foundation in data skills will help you stand out from everyone else to become an indispensable asset to your company. As 86% of Singaporean workers do not spend a significant amount of time in mainstream education learning how to use data in the workplace[v], a master’s in data analytics will certainly help to bridge this knowledge gap.
3) The Data Analytics skills you acquire can be applied across multiple industries
There is always a place for data analytics skills, be it in retail, finance, marketing or other industries!
The banking and finance industry, for example, can make use of advanced data analytics to quickly detect financial fraud and minimise losses, while those in marketing can make use of predictive analytics to positively impact the return on investment (ROI) of digital marketing campaigns.
If you work in or are interested in either of these professions, PSB Academy’s Master of Analytics lets you choose between a finance specialisation and a marketing specialisation! The two tracks offer industry-tailored modules such as Advanced Investment Analysis and Customer Insights respectively, before culminating in an analytics project that will allow you to apply what you’ve learnt to real-world problems that these industries face.
You’ll also acquire transferable soft skills that you can put to use both at work and in your everyday life. These skills include problem-solving, as the primary role of data analysts is to propose data-driven answers that will solve an organisation’s real-world business problems, as well as provide insights that will help them to make better-informed decisions.
They’ll also include communication skills, which you’ll gain via verbal presentations, written analysis reports, or data visualisation, where data is represented in a visual context. You can then apply these skills at work, such as when giving business presentations.
Digital transformation has been accelerating and data analytics will have a key role to play: as more companies and organisations begin to see the potential of big data to create business value, will you be prepared to help lead the way and explore the opportunities it holds?
If you aren’t, and would like to be, why not start your data analytics journey with us? Awarded by Massey University, our Master of Analytics programme has both a full-time and part-time option that working professionals can complete within 12 months and 24 months respectively! The programme is also sponsored by leading business analytics software provider SAS, which means that students will be awarded the SAS certification upon graduation, and will gain experience in using software used by large corporations such as Honda and HSBC[vi]!
More information on this data analytics course can be found on our course page, and you may contact our friendly consultant to make an enquiry. We hope to see you at PSB Academy!
[i] https://campaign.ntuclearninghub.com/skills-report
[ii] https://www.smartnation.gov.sg/docs/default-source/default-document-library/smart-nation-strategy_nov2018.pdf?sfvrsn=3f5c2af8_2
[iii] https://www.businesstimes.com.sg/government-economy/govtech-tableau-renew-partnership-to-deepen-public-officers-data-skills
[iv] https://thedataliteracyproject.org/files/downloads/Qlik_Accenture_Human_Impact_of_Data_Literacy.pdf
[v] ibid
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