How to Learn Business Analytics without a Business Background

Data is changing the way companies do business. From tech giants to meal delivery services, organizations are harnessing the power of analytics to boost performance and streamline operations.

According to consulting firm McKinsey, one of the keys to success for high-performing companies is cultivating a culture wherein employees consistently use business analytics as a basis for decision-making. Fostering this kind of environment has been shown to not only increase companies’ likelihood of reaching data objectives but led to reported revenue growth of at least 10 percent in the past three years.

In addition, research by Indeed shows the demand for professionals skilled in data science has skyrocketed since 2013, with the number of job postings more than tripling.

If you want to hone your business analytics skills and help your organization thrive, there are several ways you can develop a data mindset—even if you don’t have a business background. Here are five ways you can learn business analytics.

What Is Business Analytics and Why Is It Important?

Business analytics refers to the process of using quantitative methods to extract meaningful insights from data to solve business problems and make informed decisions.

Today’s organizations generate massive amounts of data, which has heightened the demand for individuals who know how to work with and derive meaning from it. An analytical skill set can help professionals across all industries leverage data to better understand past performance, predict future business outcomes, and make data-driven decisions.

Some important business analytics skills for professionals include:

• Data literacy
• Data collection
• Data visualization
• Statistical analysis
• Data storytelling and effective communication

With these analytical skills, you can better contribute to important business conversations and make an impact at work. Here are five ways to sharpen your skills and learn business analytics.

How to Learn Business Analytics

1. Earn an MBA

Furthering your education by earning a graduate degree, such as an MBA, can be one way to gain the data skills needed to solve complex business challenges.

A recent study by Kaplan Test Prep found that MBA programs in the United States are increasingly integrating data science courses into their curriculum as more companies seek to hire graduates with strong analytical and technical skills.

Through the intensive coursework of business school, you can learn how to form and test hypotheses, analyze relationships between variables, and communicate statistical results to colleagues.

Paired with the leadership and management courses that form the foundation of many MBA programs, the business analytics knowledge you acquire in the classroom can enable you to become a more capable, data-driven decision-maker.

Related: Considering Earning an MBA? 5 Tips to Help You Prepare

2. Enroll in an Online Business Analytics Course

If a full-time graduate program isn’t right for you, consider enrolling in an online business analytics course, such as the one offered by Harvard Business School Online.

For many working professionals, taking an online class is a flexible, cost-effective means of attaining skills that lead to career advancement. In fact, a third of all students now take at least one online course.

The host of benefits offered by an online educational experience include:

• Learning on your own time while juggling life’s other demands
• The opportunity to remotely connect with peers from around the world
• The chance to dive deeper into course content by pausing and rewinding video lectures and revisiting previous modules
• Reduced costs associated with virtual learning

For entrepreneur Yefei Jin, a past participant in the online Credential of Readiness (CORe) program, taking Business Analytics provided concrete skills he applied in his daily work.

“I’m applying concepts from the Business Analytics course in my current venture,” Jin says. “From designing surveys to hypothesis testing, every aspect of data collection and analysis informs our customer validation process. Especially in entrepreneurship, predictive analytics and data-driven decision-making have become increasingly vital to growth and sustainability.”

3. Gain Hands-On Experience

Whether you acquire business analytics knowledge in a physical classroom or online, look for opportunities in your workplace to take initiative and put the concepts you’ve learned into practice.

Perhaps your team needs someone to spearhead an A/B test to gauge the effectiveness of a website update, or your manager needs help creating data visualizations for an important meeting with stakeholders. Both of these would be prime situations to flex your data skills.

In the case of Pankaj Prashant, an engineer in the mining industry and a former CORe participant, the lessons learned in Business Analytics were instrumental in helping his company save money.

“I was able to use business analytics when a project on truck optimization for my site came up while I was enrolled in the course,” Prashant says. “I applied the statistical concepts I learned during the course to create an optimizer tool for truck usage and scheduling at the mine. This tool resulted in significant cost savings, which was highly valued by the site management team.”

4. Leverage Your Network

Your professional network can be a powerful resource for attaining new skills. According to a recent survey by LinkedIn, nearly 80 percent of professionals said they consider networking to be vital to career success.

To leverage your network, identify contacts who are adept at performing essential business analytics processes, such as conducting a cost-benefit analysis. Then, ask them to share their knowledge and offer guidance on how you can broaden your data expertise.

By taking advantage of your professional relationships, you can expand your skill set and cultivate connections that lead to new and exciting career opportunities.

5. Dedicate Time to Your Learning

Regardless of the learning method you choose, it’s crucial to set aside time to learn business analytics.

Consistency is key when it comes to learning a new skill. The more time you dedicate to familiarizing yourself with and practicing business analytics concepts, the faster you can contribute to important discussions and decisions in the workplace.

Related: 5 Time Management Tips for Online Learners

Developing Your Business Analytics Skills

An understanding of business analytics is useful in any industry. By attaining this fundamental business skill through continuing your education or gaining firsthand experience, you can become a more effective decision-maker and achieve professional growth while driving your company’s success.

Do you want to leverage the power of data within your organization? Explore our eight-week online course Business Analytics, one of the three courses comprising our Credential of Readiness (CORe) program, to learn how to use data analysis to solve business problems.

This post was updated on December 3, 2021. It was originally published on October 1, 2019.