Who Moved My Almond Milk? Big Data Did.

Are you intrigued by big data, and interested in helping unleash its potential? If the answer is yes, then Capella University’s new business analytics minors might be a good fit for you. The minors in data analytics, data management, and business intelligence are offered through the Bachelor of Science in Information Technology and Bachelor of Science in Business degree programs.

Capella created these programs to meet the growing demand for analytical talent. Michael Balaban, faculty member and subject matter expert on data and business intelligence, offers more insight into the world of big data, and how it can be applied within business settings to help companies make more informed decisions.

What is Big Data, and How Are Businesses Using It?

“Big data essentially includes everything that can be tracked – from structured data (anything the organization can control – CRM, logistics, supply lines) to unstructured data (talking, video, audio, texting),” Balaban said. Big data encompasses much of the overall data universe, combining the private and open data that define modern communication. While the sheer volume of available data is astounding, the real magic happens when analysts deconstruct the data for actionable goals.

Businesses look to utilize big data through predictive and prescriptive analysis. “Predictive analysis uses the data to chart probabilities for success or failure, while prescriptive analysis encourages someone to take action,” Balaban said. “As business analysts, our job is to mine the data, convert it to information, and then convert it again into knowledge that allows leaders to take action.”

It takes several roles to effectively collect and analyze this data – ranging from data analysts to data management specialists to practical business intelligence specialists.

What Do Businesses Learn from Big Data?

Imagine strolling through the dairy aisle at your favorite grocery store, heading toward your favorite almond milk. But wait…it’s not in its usual spot.

Instead you find that the almond milk has been moved to a different shelf, replaced by cartons of coconut milk. Would the familiarity of the location (and the similarities of the products) persuade you to try something new? Or would you keep searching for almond milk?

These questions – and many others like it – are exactly what data professionals are answering with the help of big data. Product relocation isn’t a random occurrence – stores are predicting that the new location will spur more sales. The predictions are derived from customer behavior data as retailers work to identify what compels customers to purchase.

In this scenario, a data manager collects and organizes the various data regarding customer milk choices, a data analyst mines the data for specific purchasing trends, and a business intelligence analyst uses the data to convince managers to move the almond milk to a different shelf.

What Qualities Are Hiring Managers Looking for in Business Analysts?

Companies are increasingly looking for data professionals who understand big data and how to apply it to their operations. According to Balaban, they are looking for people who can apply insights from data immediately with certain tools.

“They want analysts to know how to attack the data with logic, and understand what they don’t understand,” Balaban said.

Demand for data professionals is increasing, and people who already work in the IT field can further their career potential along this track. As Balaban notes, Capella’s business analytics minors will help graduates “see what’s happening, what happened, and tell a story that adds value to their organizations” using big data.

Who Is a Good Fit for These Programs?

The direction you take depends on what portion of data you want to work with and influence.

• A minor in data analytics will give you an overview of core IT disciplines, as well as the knowledge to tackle workflow concepts and activities within the world of data. It’s ideal for IT professionals who wish to dip their feet in the data pool, and eventually become senior data analysts.
• A minor in data management will help you understand how data can be organized and controlled, using a variety of models and design templates. This minor is ideal for IT professionals and analysts looking to move toward data-focused careers from systems development and management.
• With a minor in business intelligence, you’ll be able to identify concepts and trends from data models, and combine them with best practices from the real world. It’s ideal for IT and business managers looking to use data to create practical insights and actions for executives.

To meet the growing demand for analytics professionals, Capella collaborates with SAS, the leader in business analytics software and services, to launch these new bachelor’s minors. This comprehensive approach provides two major benefits for Capella undergrads pursuing business analytics programs:

• Practice with industry-leading software used by nearly 80% of Fortune 500 companies.
• Tested and proven learning materials that help students apply techniques immediately.

Balaban calls this the “Win-Win-Win” of the Capella business analytics program. “The [student] wins through our collaboration with SAS, and the employer wins with a more educated job candidate.”

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