The world is now data-driven – it is all about user data that help the businesses flourish. As the majority of users worldwide use smart devices like laptops, smartphones, etc. a huge chunk of data gets generated in the digital world. Eventually, it becomes the task of data scientists to study such user data and make business predictions.
However, despite being data scientists, some of them aren’t able to utilize their business skills because they don’t have an MBA degree in the first place. So, which of the two -having an MBA degree or being a data scientist is more helpful in the business domain? While having a degree at both can work wonders, they both have their shares of scopes. This article would try to focus on those.
MBA vs Data Science
Before taking an in-depth look into the scopes of both these fields, let’s look at what both of these domains offer.
- MBA: MBA, or Masters in Business Administration, is the good old domain which provides education and training in fields such as finance, human resource, market research, strategies, and partnerships, etc. The MBA programs are designed to make candidates suitable for leadership roles like executives, entrepreneurs or CEOs.
- Data Science: Data science is a relatively modern role that originated largely due to the excessive use of digital systems worldwide. While a lesser number of universities offer data science programs compared to MBAs, the former is high in demand and, likely, its demand would only keep increasing in the future. So, what exactly is a data science about? Well, it is a field that trains people on how to study user behavior and pattern through user data. Studying user data could be immensely helpful in marketing and management.
Scope in MBA
After completing a course in MBA, a wide door of opportunities opens for the candidates. From leaders to executives and from project managers to marketing managers, MBA professionals are always needed to step into leadership roles. Their management and leadership skills are what required in an organization to manage finance, business, sales and marketing, human resource factors, etc. The success of a company and it’s profit-making largely depend on its leaders and the approach they take to run the organization. Candidates with MBA degrees are highly compatible with such posts.
Scope in Data Science
Data science graduates are in high demand in the current era. They are trained in mathematics, statistics, and a little bit of computer science fundamentals (statistical programming) to study user behavior and pattern from the chunk of data collected. Observing those data, data scientists can help the marketing and management understand a user’s likes and dislikes, which in turn could boost the company’s sales.
Both the data scientists and MBA graduates are needed in small to large firms everywhere in the world. The packages offered to them are higher than most jobs available out there. However, it is often seen that someone with a degree in both could help an organization immensely in profit-making.
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