Technology’s influence on the business world peaked in the last decade. In one way or another, technology permeates every aspect of our lives. We have savored the gifts of technology to the fullest, from mobile devices to desktop computers to virtual assistants to social media. However, technology eventually won out. Now, in addition to making our lives easier, it has made its way into the workforce. Positions like these did not exist a decade ago. Because technology has had such a profound effect on the labor market, the digital world must evolve. Let’s compare and contrast two of these factors today: business analytics vs. digital marketing, to see which career path is better.
Business and new professionals may be worried between a career in business analytics and a career in marketing. Today’s economy generates data for businesses, making business analytics popular. Both industries are expected to grow and attract qualified workers over the next decade. However, deciding between business analytics and digital marketing is a no-brainer for many people.
Across India, there are promising new initiatives that aim to address this critical issue. To reap the rewards of a BA certification, you no longer need to take more than one business analytics course. You can do so in a shorter time than you might think.
Business analytics vs. digital marketing: Importance
Because of how much time people now spend online, it’s crucial for companies and groups to have an online presence. To advance their businesses, companies can connect with a larger and larger portion of their target audience through digital marketing.
As a result of its usefulness in modern advertising, networking, promotions, and revenue generation, digital marketing is gaining much attention these days. It has revolutionized marketing practices and significantly reduced complexity. Businesses can leverage social media’s widespread interest to promote their goods and services to the broadest possible audience.
You can think of business analytics as the practice of quantifying such results. It consists primarily of conveying the findings of statistical analyses of data. Organizations can use the results of these statistical procedures to improve their business models and strategies, boosting productivity and profits.
Business analytics is a cornerstone of the expansion strategies of most modern businesses. A company’s time and money spent on advertising and public relations would be for naught if not for the existence of business analytics. It shows that business analysis is crucial to the smooth running of any company. And suppose this sounds like something you’d be interested in pursuing as a career. So, there are many great online certificate programs you can enroll in to learn the fundamentals of business analytics vs. digital marketing.
Business analytics vs. digital marketing: Why upskilling makes sense?
Every aspect of our routine lives, from shopping for groceries to searching for employment to investing in the stock market, has gone digital. Companies of all sizes and fields have migrated to the web. An online business’s chances in the market improve when its marketing strategy is based on data analytics.
Because of these factors, keeping up with the latest digital marketing and analytics developments is essential. Improving your skill set should include keeping up with general industry standards.
Business analytics vs. digital marketing: In-demand business and management skills
Prospective graduate students in business administration are always looking to improve their marketability to potential employers. Understanding business analytics and marketing skills can help individuals settle on a career path.
The demand for skilled analysts is higher than that of digital marketers, so professionals should consider this by deciding between the two fields of study.
Business analytics vs. digital marketing: Salary growth opportunities
Choosing a profession in response to market demand is just one justification for going after that master’s degree. To summarize, competitive salary expectations are essential to prospective MSc BAM candidates.
Salary is another factor to consider when deciding between a career in business analytics vs. digital marketing. Marketing salaries are lower than analytics salaries at the entry-level and senior levels.
As of 2019, marketing associates brought in an average of $46,021, as reported by PayScale. The median yearly salary of associates in the top 90% was $66,000. According to PayScale, the median income for marketing directors was $86,586, and the median income for the top 90% was $149,000.
Regardless of specialty, business analysts earn more than their marketing counterparts. PayScale’s average salary for an IT-savvy business analyst was $68,401 in 2016.
Business analytics vs. digital marketing: Job prospects
Consider the current state of the job market for both business analytics and marketing before making a decision.
Looking at the BLS’s projections for job growth from 2018-2028, we can see that marketing and business analytics are expected to expand significantly during that time. There will be an 8% increase in demand for managers in the advertising and marketing industries. Professionals at the pinnacle of the marketing field can anticipate modest growth compared to the national average of 5%.
Employment prospects for senior business analysts are expected to increase by 14% between 2018 and 2028 as the global market becomes complex and the demand for industry experts who can find efficiencies, new markets, and savings increases. This increased competition between industries may help some professionals decide between business analytics vs. digital marketing.
Closing notes
Business analytics vs. digital marketing go hand in hand and have much in common. You can’t have successful digital marketing without also investing in business analytics. Without any of it, a company would never be able to expand.
The company can reach more customers through digital marketing, and it can improve the efficacy of its marketing campaigns by analyzing its data using business analytics.
Both fields have experienced a phenomenal expansion in recent years, and experts predict this trend will continue. As a result, as long as the internet and related technologies exist, people will be able to find work in both fields. Taking the best Simplilearn online courses to earn a certificate in business analytics or business analytics is the best way to increase your marketability in these fields.