2024 Best MBA Programs in Business Analytics

What is an MBA in Business Analytics?

An MBA in Business Analytics is a specialized master’s degree that’s similar to an MBA, but focuses on data-based decision making and the evaluation of business models. At the top MBA Programs in Business Analytics, students learn how to apply statistical modeling, machine learning, predictive analytics, optimization techniques, and other business intelligence methods. These skills can be used to make better strategic decisions, optimize processes and resource allocation decisions, and gauge the health of a business.

An MBA in Business Analytics is the combination of business management and analytics. It offers students a holistic understanding of business problems and methods to tackle them. Students gain knowledge of statistical analysis, predictive analysis, information technology, and other skills to help them get a job as an business analyst, data analyst, data engineer, predictive modeler and the like.

The Master of Business Administration (MBA) degree, one of the most in-demand graduate degrees available today and offers students the chance to learn an effective, diverse mixture of management theory and applied strategies from communication and supply chain management skills to financial and marketing needs.

With a strong focus on applied sciences and business knowledge, MBA students experience real-world interactions with other students and professors, providing a sense of collaboration between students as they tackle different facets of business theory.

An MBA with a concentration in business Analytics an advanced graduate degree that helps students build the critical tools and framework necessary to lead, manage, and grow businesses. Generally offered as a 2-year program, the majority of MBA programs require candidates to have at least 3 years of work experience before they begin the course work.

Common program requirements include accepting at least one internship during the term, writing a thesis or capstone project reflecting on the student’s growth over the year, and passing an exit exam or comprehensive final examination.

100 Best Ranked MBA Programs in Business Analytics

Find a list of campus and online MBA programs in Business Analytics in the the United States. In-person, campus Business Analytics MBA programs account for 128 programs while online offerings account for 99 programs. Find Business Analytics MBA programs offered and sorted from lowest to highest tuition.

Learn about the career outlook, starting salary prospects, and long-term earnings possibilities in the sections below to help you understand the ROI of earning an MBA in Business Analytics.

If you notice errors in the MBA program data, please contact us.

Find an Online MBA Program now Accepting Applicants

How Much is Tuition for an MBA in Business Analytics?

The average full-time Tuition for MBA programs in Business Analytics is $40,187.76 with a highest of $160,130.00 and the lowest of $7,048.00

The average in-state tuition for campus MBA program in Business Analytics is $40,187.76 compared to the average out-of-state tuition of $52,369.17. The average in-state tuition for an online MBA in Business Analytics is $38,330.96 compared to an average out-of-state online tuition of $50,522.69.

With a tuition cost ranging between $7,048.00 and $160,130.00, it may be worthwhile to attend a highly reputable online or in-state program instead of electing to go out-of-state. This may be the difference in a $90K in tuition due to your residency status. You don’t need an MBA degree to know the importance of fiscal responsibility.

You may want to opt for a more affordable degree programs instead of taking out student loans for B-School tuition. A savvy student also realizes that attending an online MBA program can significantly reduce textbook, transportation and living costs.

What is the Career Outlook for an MBA in Business Analytics?

Why choose an MBA with a concentration in Business Analytics? Predictions from the U.S. Bureau of Labor Statistics (BLS) indicate a negative growth in top management positions overall, with a projected to grow 13.5% percent nationwide until 2028, according to the US Department of Labor. The average number of annual openings needed nationwide is 99,900. Additionally, the BLS pegged the median salary for managers at $103,930, an important consideration for students considering a major investment in their education.

Area	2018	2028	Change	%Change	Avg. Annual Openings
United States	876,300	994,600	118,300	13.5	99,900
Alabama	6,510	7,520	1,010	15.5	760
Alaska	520	530	10	1.9	50
Arizona	8,370	9,960	1,590	19	1,020
Arkansas	6,860	8,320	1,460	21.3	860
California	134,600	153,300	18,700	13.9	15,430
Colorado	13,710	17,520	3,810	27.8	1,850
Connecticut	11,120	12,400	1,280	11.5	1,240
Delaware	2,980	3,280	300	10.1	330
District of Columbia	24,750	29,910	5,160	20.8	3,090
Florida	55,200	66,980	11,780	21.3	6,930
Georgia	23,960	28,800	4,840	20.2	2,970
Guam	140	170	30	21.4	0
Hawaii	2,740	3,120	380	13.9	310
Idaho	2,760	3,030	270	9.8	30
Illinois	46,630	52,970	6,340	13.6	5,330
Indiana	12,560	14,340	1,780	14.2	1,440
Iowa	5,760	6,520	760	13.2	650
Kansas	6,060	6,850	790	13	690
Kentucky	5,490	6,520	1,030	18.8	670
Louisiana	3,440	3,430	-10	-0.3	0
Maine	1,440	1,550	110	7.6	150
Maryland	24,930	29,550	4,620	18.5	5,130
Massachusetts	32,890	36,470	3,580	10.9	3,630
Michigan	19,060	19,950	890	4.7	1,930
Minnesota	18,360	20,490	2,130	11.6	2,040
Mississippi	2,880	2,930	50	1.7	10
Missouri	9,060	10,020	960	10.6	1,000
Montana	720	860	140	19.4	90
Nebraska	2,910	3,310	400	13.7	330
Nevada	4,790	5,900	1,110	23.2	610
New Hampshire	2,840	3,260	420	14.8	330
New Jersey	17,980	20,260	2,280	12.7	2,030
New Mexico	3,230	3,750	520	16.1	380
New York	57,160	66,690	9,530	16.7	6,790
North Carolina	21,620	25,160	3,540	16.4	2,560
North Dakota	620	710	90	14.5	70
Ohio	24,080	27,000	2,920	12.1	2,700
Oklahoma	6,050	6,800	750	12.4	680
Oregon	9,980	12,240	2,260	22.6	1,270
Pennsylvania	31,720	35,350	3,630	11.4	3,520
Puerto Rico	3,510	3,950	440	12.5	400
Rhode Island	3,920	4,450	530	13.5	450
South Carolina	10,980	13,060	2,080	18.9	1,340
South Dakota	3,330	3,760	430	12.9	380
Tennessee	9,810	11,070	1,260	12.8	1,110
Texas	44,820	56,770	11,950	26.7	5,980
Utah	5,320	7,460	2,140	40.2	820
Vermont	1,180	1,330	150	12.7	130
Virgin Islands	70	80	10	14.3	10
Virginia	61,910	70,810	8,900	14.4	7,140
Washington	31,040	40,010	8,970	28.9	5,150
West Virginia	2,340	2,720	380	16.2	280
Wisconsin	14,690	16,770	2,080	14.2	1,690
Wyoming	490	610	120	24.5	60

What is the Starting Salary for Business Analytics MBAs?

Though it’s not the only factor, compensation is an important consideration for individuals considering obtaining an MBA degree. Salaries for graduates with master’s degrees in business administration can be significantly higher than those of graduates with only a bachelor’s degree. In addition, advance salary projections from the US Department of Labor show that average MBA salaries are expected to increase by 13.5% each year through the year 2028 with an annual need of 99,000 new managers needed each year.

Average starting salary for MBA students from universities that offer an MBA in Business Analytics today is $80,292.75 with the lowest of starting of $43,200.00 and the highest reported starting salary of $167,977.00.

Best ROI for MBA Programs

The average ROI full-time for MBA programs in Business Analytics is 145% with a highest of 524% and the lowest of 30%.

Return on investment (ROI) is an essential factor when considering which MBA program(s) to apply to. To calculate ROI, consider both the tuition for the MBA program and the average salary a graduate earns. The average tuition cost for an MBA degree in Business Analytics is approximately $40,187.76, while the average starting salary for MBA graduates is around $80,292.75. To calculate ROI, you need to subtract the tuition from the salary and divide by the tuition cost. This will give you a rough estimate of how much value you will get out of the MBA Business Analytics.

The average ROI for all MBA programs in the United States is 146%. The average ROI for Business Analytics programs is 145%.

Reports for campus MBA ROI and online MBA ROI.

Business Analytics Earnings by State and Experience

According to data collected by the U.S. Bureau of Labor Statistics, MBA pay and employment in 2021 is listed in the table below.

State	Employment	1 to 4 Years	5 to 9 Years	10 to 15 Years	15 to 20 Years	20+ Years
Alabama	4,640	$53,350	$68,770	$90,380	$115,120	$158,950
Alaska	410	$65,070	$76,900	$96,980	$117,890	$147,670
Arizona	13,110	$45,530	$57,940	$78,520	$109,040	$134,210
Arkansas	5,550	$27,650	$31,440	$55,260	$85,790	$111,910
California	101,240	$55,040	$68,930	$87,510	$118,150	$160,620
Colorado	11,890	$55,260	$71,370	$95,290	$124,340	$164,320
Connecticut	8,590	$59,340	$73,940	$95,230	$125,760	$172,360
Delaware	2,930	$48,490	$61,040	$79,280	$106,180	$139,680
District of Columbia	17,870	$67,620	$86,340	$109,220	$126,620	$159,690
Florida	52,670	$37,260	$49,450	$71,420	$101,110	$140,260
Georgia	17,930	$53,470	$67,210	$86,100	$115,340	$152,920
Guam	180	$44,680	$54,950	$63,520	$81,840	$97,180
Hawaii	2,450	$53,830	$63,700	$79,110	$94,950	$110,900
Idaho	2,940	$39,510	$50,800	$69,240	$102,720	$131,480
Illinois	36,290	$53,220	$67,970	$91,130	$123,690	$167,700
Indiana	11,270	$39,080	$53,800	$73,850	$101,910	$130,790
Iowa	5,740	$51,290	$62,590	$79,340	$99,880	$125,330
Kansas	5,660	$41,710	$52,290	$72,290	$98,040	$134,100
Kentucky	6,210	$36,690	$51,470	$70,810	$96,880	$134,650
Louisiana	3,570	$48,690	$60,920	$76,890	$100,350	$125,050
Maine	1,400	$51,890	$59,760	$76,730	$99,190	$118,620
Maryland	19,790	$56,980	$77,160	$102,660	$123,190	$145,560
Massachusetts	26,920	$60,820	$76,840	$101,390	$135,320	$180,770
Michigan	14,420	$52,750	$67,160	$84,270	$108,560	$143,520
Minnesota	16,990	$55,000	$67,460	$86,630	$118,240	$161,200
Mississippi	2,000	$39,180	$48,310	$68,120	$92,430	$113,400
Missouri	12,320	$45,660	$60,770	$82,360	$107,720	$135,170
Montana	1,180	$52,910	$61,130	$74,220	$91,810	$105,490
Nebraska	2,850	$47,700	$58,340	$75,170	$98,650	$112,900
Nevada	4,610	$52,210	$59,600	$73,180	$96,370	$123,110
New Hampshire	2,990	$55,420	$69,450	$90,170	$118,520	$149,710
New Jersey	17,360	$57,580	$77,880	$104,610	$136,530	$175,900
New Mexico	3,480	$46,380	$56,510	$76,500	$97,920	$120,820
New York	51,820	$55,450	$71,760	$98,100	$135,350	$193,240
North Carolina	19,100	$51,980	$67,040	$89,770	$122,330	$162,220
North Dakota	590	$45,450	$54,610	$65,680	$88,390	$113,540
Ohio	23,320	$49,740	$62,770	$82,620	$106,880	$143,180
Oklahoma	5,350	$44,220	$59,480	$77,490	$97,340	$121,190
Oregon	9,070	$59,740	$70,950	$85,950	$106,000	$132,740
Pennsylvania	25,150	$53,500	$64,030	$84,370	$109,090	$140,940
Puerto Rico	1,910	$27,830	$40,250	$58,890	$79,210	$103,090
Rhode Island	3,350	$54,460	$66,390	$87,160	$110,140	$140,160
South Carolina	12,530	$40,400	$56,950	$76,720	$101,090	$139,190
South Dakota	2,670	$46,930	$56,450	$70,990	$91,470	$111,430
Tennessee	10,220	$49,290	$60,480	$76,390	$95,990	$115,960
Texas	42,470	$57,360	$70,770	$89,700	$113,370	$141,590
Utah	4,170	$35,720	$50,410	$67,190	$90,080	$114,290
Virgin Islands	60	$45,310	$54,060	$65,260	$77,120	$92,080
Virginia	46,820	$60,060	$75,600	$97,840	$127,490	$165,040
Washington	22,990	$58,570	$73,830	$98,870	$133,030	$172,550
West Virginia	2,130	$32,440	$52,910	$73,140	$96,240	$113,790
Wisconsin	13,290	$52,540	$64,410	$81,340	$105,750	$146,180
Wyoming	490	$53,850	$63,130	$78,530	$117,200	$169,260

What Can I Do With an MBA in Business Analytics?

With an MBA in the highly sought after Business Analytics sector, your career has few limits. You use the degree as a stepping stone to a variety of high-level roles in business or government and it opens up new career possibilities or advancement within your current role.

As business and industry demands change within the Business Analytics sector, a graduate-level degree prepares you for taking on new challenges by preparing you with thinking and adaptation skills required in the every changing world of Business Analytics.

An MBA in Business Analytics prepares you for advanced career tracks within the sector including technical and business consulting, accounting, finance, human resources, marketing, and organizational leadership. The MBA is the degree of choice for world-class executives who have the knowledge and real-world experience to add value to their organizations and apply practical business solutions.

What Are Benefits of Earning an MBA?

• Increased Job Opportunities: What exactly will an MBA do for you? Mid- to upper-level management positions are available to you. Jobs that see fewer applicants, such as chief executive officer, are also open to you. Earning your MBA qualifies you for positions that range from department director to enterprise director and chief operating officer. Employment for MBA candidates is projected to increase by six percent per year over the next seven years. Three-quarters of employers say that they plan to hire MBA graduates in 2016, while ninety-two percent are increasing the number of MBA internships that they offer.
• Increased Earnings: A recent study showed that the average MBA graduate’s pay was 50% higher than their position before earning their degree. Even more impressive, in the five years after earning their MBA, the average pay increased by 80%. These figures clearly show the financial benefits of an MBA but they don’t address the personal satisfaction that comes with greater responsibility.
• Sharpen Your Professional Skills: As a graduate of an MBA program, you’ll develop the skills necessary to succeed in a competitive business environment. You’ll learn to think critically about problems, communicate effectively, work on a team and analyze complex financial data. You’ll also have access to some of the brightest minds and the latest resources in today’s business world.
• Greater Job Security: Today’s job market is more turbulent than ever before, filling many with uncertainty and fears of being left out. Earning an MBA not only increases your earning potential but also offers a foundation for greater career stability and security. With the marketable skills to lead teams, take initiative and make positive changes in companies, you can quickly establish a secure foothold in an otherwise shaky job market.
• Become a Respected Member of Your Business Community: Choosing to earn an MBA enables you to position yourself as a respected member of your business community. An MBA increases your professional vocabulary, enhances your strategic thinking and analytical skills, and gives you a broadened level of cultural knowledge. Whether you pursue a program that offers concentrations or one focused on leadership and global management, an MBA will give you the tools and resources you need to succeed.

What Skills Do I Need to be Successful In Business Analytics?

According to a recent survey by the Financial Times, these are the top-five most important skills employers look for in MBA graduates:

• The Ability to Work with a Wide Variety of People: This attribute is important because not all of the people you are communicating with will have the same educational background, interests, or objectives. Your ability to work with a wide variety of people is what enables you to be a successful manager.
• Time Management and Ability to Prioritize: The ability to prioritize and manage time is one of the most important skills that any professional must master. As your career progresses, your work time will increase, but if you can’t manage your time well you’ll always be at risk of not meeting deadlines and expectation
• Understanding and Mastering the Digital Impact on Businesses: Due to this disruption in business models and processes, many companies have transitioned from analog organizations to digital organizations and individuals competencies in information technology are needed.
• Ability to Build, Sustain and Expand a Network of People: The ability to build, sustain and expand a network of people is one of the most valuable skills that a business manager can have. It’s not enough to know the technical aspects of your job. And it’s not enough to be passionate about your work. To succeed in this position as a business manager, you must also be able to build and sustain an effective network of contacts.
• Ability to Solve Complex Problems: Business management is often about conceiving a strategy that employs the best, most effective solutions to get a job done. The thought process behind solving a complex problem is much more complicated than solving a simple one–making it one of the top skills of modern business managers. Complex problems require the manager to think on their feet, and ask questions throughout the entire process.

What Typical Classes Will I Take in My Business Analytics MBA Program?

Business schools typically offer programs that provide a comprehensive, rigorous training in business fundamentals and leadership. Full-time and part-time curricula exist, with part-time programs requiring students to balance school with full-time employment. As a student, you have the option of emphasizing an area of expertise by choosing a major or completing an integrated program. MBAs have flexibility in course selection due to the curriculum’s interdisciplinary nature; however, a typical curriculum has core courses, as well as required and elective courses in various disciplines.

Core Curriculum for MBA Programs

Typical core MBA classes will differ from program to program, however the following list gives you an idea of the kinds of classes you can expect as outlined in curriculum at Wharton MBA and Florida Atlantic University:

• Foundations of Teamwork and Business Analytics: Develop a leadership style that fits your situation. Learn the many aspects of teamwork and explore the key components of successful leaders.
• Marketing Management: The MBA program in Marketing Management trains students to apply analytical concepts and marketing tools to decisions like segmentation and targeting, branding, pricing, distribution, and promotion.
• Microeconomics for Managers: This course provides an introduction to microeconomics, which is the study of how the markets for goods and services operate. Topics covered include supply, demand, consumer behavior, market price and output, production, cost, simple competitive market equilibrium, simple monopoly pricing and output determination, price discrimination, and bundling.
• Advanced Microeconomics for Managers: Teaches microeconomic theory in a business setting. It helps readers learn how to use microeconomics to enhance decision making and to make more profitable business decisions. The book includes topics such as sophisticated pricing policies, transfer pricing, strategies for dealing with competitor firms, cooperation strategies, managing under uncertainty and more.
• Statistics and Regression Analysis for Managers: Work with two key statistical data methodologies including regression analysis and experimentation. Learn to apply these techniques to real-world situations.
• Management Communication for Speaking and Writing: Management Communication for Speaking and Writing (MBA) will help you strengthen your skills in persuasion, presenting confidently, and answering questions.
• Business Law and Applied Ethics: Businesses, non-profit corporations and governmental entities all engage in activities that can lead to legal disputes. Business Law and Applied Ethics provides an understanding of the principles that govern these disputes and how they apply to businesses. In addition, students will develop skills and tools to lead or manage a business while creating and maintaining an ethical environment.
• Financial Accounting: Financial Accounting provides a thorough overview of the theory, concepts, techniques, and applications that are necessary for understanding the accounting cycle, asset valuation, income determination, financial reporting, basic business taxes, and owner’s equity. This text is an ideal medium for lecturers to use for courses designed for graduate students lacking any previous course in accounting.
• Business Analytics: Financial decisions are among the most important a corporation’s managers must make. Investment policy, financing policy and working capital policy all depend on a firm’s unique financial requirements and opportunities. Business Analytics provides tools and applications of corporate financial analysis and forecasting, as well as discussion of the implementation of these policies in current business situations.

What Are the GMAT Scores Required for Acceptance into an Business Analytics MBA Program?

It’s important to note that not all MBA programs require a GMAT Score for admissions, but most reputable programs do. With that being said, if you have your eye on a list of competitive programs, it’s best to boost your GMAT Score accordingly. Outside of a solid GMAT Score, B-School admissions departments look at a candidate’s undergraduate GPA, professional experience, letters of recommendation, CV, and personal statement. A strong undergraduate performance may offset a sub-part GMAT Score.

For campus MBA programs in Business Analytics, the lowest GMAT score required from an in-person program is 265 and the highest is 733 with an average GMAT score to be accepted in a campus-based Business Analytics MBA program being 554.

For Business Analytics MBA programs offered online, the lowest GMAT score required by a university is 265 and the highest is 702 with an average GMAT score to be accepted in an online Business Analytics MBA program is 548.

Below you will find a list of the 10 highest and 10 lowest average GMAT scores needed for a campus based program offering an Business Analytics MBA concentration.

Student / Faculty Ratio for MBA Programs in Business Analytics

A low Student/Faculty ratio for any MBA may have more of an impact on students wanting smaller classrooms and greater networking opportunities with professors and fellow classmates. For students who thrive in lecture hall environments and do not require the individual attention/one-on-one mentorship from a B-Schools faculty, then a high Student/Faculty ratio may not be an issue.

Of all the Business Analytics MBA programs offered in-person and on campus, the lowest Student Faculty ratio is 4:1 compared to the highest of 35:1 while the average Student Faculty ratio for all in-person campus program offering an Business Analytics MBA is 16:1.

For Business Analytics MBA programs offered online, the lowest Student Faculty Ratio is 5:1 and the highest is 35:1 with an average Student Faculty ratio from MBA programs offering an MBA in Business Analytics online is 17:1.

Below you will find a list of the 10 highest and 10 lowest student faculty ratios from campus based programs offering an Business Analytics MBA concentration.

Student Enrollment for MBA Programs in Business Analytics

The MBA program with the lowest student enrollment that offers an MBA in Business Analytics is 4 from Ohio Northern University. The MBA program with the highest student enrollment offering an MBA in Business Analytics is Highest: 3,933 from The University of Texas at Dallas. The average student enrollment from all universities that offer an MBA in Business Analytics is 291.