Last Updated on September 1, 2023MIM vs Masters in Business Analytics: A Comparative Analysis
In today’s data-driven business world, the demand for skilled professionals who can analyze vast amounts of data and extract meaningful insights has surged exponentially. As a result, individuals aspiring to pursue a career in the field of analytics often find themselves contemplating between two popular graduate programs: Masters in Management (MIM) and Masters in Business Analytics (MBA). Both programs offer unique advantages and cater to different career paths. This article aims to compare and contrast MIM and Masters in Business Analytics, shedding light on their distinct features to help potential students make an informed decision.
Masters in Management (MIM) programs are designed for recent graduates or individuals with limited work experience seeking to gain a comprehensive understanding of business management principles. The curriculum of MIM programs
MIM vs Masters in Business Analytics is a one year full time program, requiring you to be in college for the entirety of the course. MIM has been in existence for a long period of time as compared to MBA.
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mim vs masters in business analytics
As technology spreads to every tiny aspect of our lives, role of engineering management is becoming more relevant in every domain and industry. Be it pharmaceutical company or an agricultural one, everyone is dealing with engineering challenges at some level – chemical, mechanical, civil, hardware electronics engineering dealing with tangible products while software and computer engineering dealing with the abstract information.
Understandably, there has been a steady increase in the demand for managers who understand technology and engineering aspects alike which gave rise to programs such as MEM (MS in Engineering Management), MIS (Management Information Systems), MIM (MS in Information Management), MSIS (MS in Information Systems) and so forth. With few differences, these programs aim at combining technical depth with business breadth so that the students can understand both management and engineering language. One theme that underlines all these programs is that they are core business programs with engineering electives. The focus is still on management courses such as statistics, analytics, supply chain etc and one can pick electives in database, programming, networks etc.
Remember that these programs, being core management programs, are likely to be biased towards applicants with some work experience.
Some of these course names might be confusing, so lets take a look one by one-
Core management programs with courses in Marketing, Finance, Management, Operations, Modeling and available engineering electives (not just software but industrial engineering, nanotechnology etc). Typically, prepare candidates for consulting, business analysis in any engineering related work function. Duke’s MEM program is leading in this category. Look at their electives to get a sense of the course offering. The incoming student profile at Duke’s MEM is widely spread among various engineering majors.
MS in Management Information Systems degree programs provide more focus in the field of technology management. more like MEM for IT, so focusing on IT electives such as data mining, AI, networking etc. One might think of it as a less competitive version of MBA specializing in IS (but then, less reputed than an MBA too). Expect roles such as system analysts, data analysts, systems engineer, database admin after this.
Here are top 10 schools offering MIS courses:
- University of Minnesota, Twin Cities
- University of Arizona
- University of Texas, Austin
- University of Maryland, College Park
- University of Pennsylvania
- Georgia State University
- University of Georgia
- Indiana University– Bloomington
MIS vs MBA
MIS or MBA in the USA offers you a prestigious middle level to high-level management position, the difference between these two courses is the kind of management required. While MBA aims at more holistic management and administrative picture, MIS is more of a technical perspective.
MEM vs MBA
The MEM degree is Master of Engineering Management, mainly suited for students with graduation in Science, Technology, Engineering, and Math (STEM) degree. It is good for those wishing to take a higher career in Technology. It offers management and leadership skills with a higher focus on technical disciplines. Some universities require you to have work experience while others don’t.
Whereas an MBA is a great option for graduates from any background, who wish to take their career forward in Management and Business Administration. For applying to top MBA programs in the US, you are required to have 2-3 years of work experience.
MIS vs MIM:
These are other variations of MEM and MIS programs. You will find some more such as MSTM, MSEM offered with various names in different schools. Before you decide which one to apply to, take a good look at the curriculum to ensure it suits your background and goals.
Here are some common questions that students have about these programs-
1. Should I go for MIS only if my profile is not good enough for MS in Computer Science (and other branches respectively for MEM)?
This is a misconception that MIS stands second to core engineering MS programs. I have known students with excellent profiles and a shot at top MS in CS programs to opt for MIS because of their career goals. It is important to understand the difference in career paths that stem from MS CS vs MIS. You should see which program aligns better with your career goals and not choose based upon its perceived reputation in your head.
2. If I want to do MBA later on, then should I still go for MIS/MEM?
Many MIS/MEM programs are offered by business schools (and some by engineering schools). As a result, you might be taking some courses along with the MBA students. I recommend doing MBA much later in career for either switching your career stream or to get a jump in career ladder within your industry. Doing a MIS/MEM (granted that it fits in with your aspirations now) will not rule out an option for MBA later on. You might be studying some of the courses again but you can still do it if you feel the need to do so.
3. Are the job prospects after MIS/MEM worse that MS or MBA?
Please understand that all these are different programs and hence comparing them is not ideal. MS and MBA have been there for a long time and have established reputation whereas MIS/MEM programs are comparatively newer and still building their base. And this is the reason that they are growing steadily in demand as well. Would you rather do MBA when fewer people were doing it and there was a higher demand or when the market is saturated and practically everyone has an MBA? Top MIS/MEM programs such as Duke, CMU, Stanford etc are highly competitive and graduating from them is highly rewarding in terms of career opportunities. So, I feel that if you graduate from a good MIS/MEM program, you will not be compromising on any job prospects compared to other fields. Currently, there is an employment boom for engineers (especially CS related) which may change later on. Therefore, job prospects after these programs depends on the industry demands and not the reputation of these programs alone. As is true for MS or MBA, doing MIS/MEM from higher ranked schools should open lucrative opportunities for anyone.
4. How can I make my MIS/MEM application stronger?
Make your MIS/MEM application better by:
- Having at least a year of fulltime work experience. This is because management programs benefit from exposure to industry and students can better contribute to the classes if they have worked previously. Also, they are able to better understand some concepts that are applicable in real world jobs
- Get at least one LOR from the Industry. This can come from your Manager if you are employed or a project guide if you are an engineering student and did some industry project/internship.
5. So, should I apply for MIS or not?
If you want to get into IT consulting, Analytics, Project Management, Product Management etc kind of careers, then and ONLY then you should opt for MIS and NOT because it is less competitive or easier entry for US.
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masters in business analytics quora
By MIM do we mean Masters in International Management??? it depends on which Country and which institute are you targetting??? whereas in MS in Business Analytics it must be through abroad. Difference between MS in BA and MIM is like Management course or an industry specific course. in MBA we have all the specialisations available like HR/ Finance/ Marketing etc wherein it is been covered from theory aspect, whereas in Business Analytics we also have all these functions available but with a technology aspect but not just theory. From Job prospective Business Analytics will always have an edge over Management course with respect to job profile, CTC, career growth etc. Other then MS you have lot many PG courses available in Business Analytics which can give you a better start in your career into analytics.
The world is evolving, and over the last two decades, the pace of change is faster than ever before. Sign onto Linkedin and look at jobs posted by multinationals and well-known firms, and you will observe, without any question, that the keywords ‘data,’ ‘digital’ and ‘technology’ are routine on their descriptions. In fact, in Canada, where I recently spent considerable time, rarely did I come across a job that didn’t require an understanding of technology and data. So much so that even traditional consulting and accounting firms now have specialized innovation hubs and AI practices. As examples, look at Accenture Innovation Hub and Deloitte Omnia AI.
As market needs are shifting, so are business schools. First, they are seeking the STEM designation for their MBA programs, such as at CMU’s Tepper and Michigan’s Ross, which now offer a STEM MBA curriculum, and second, they are offering specialized programs such as a Masters in Analytics. As examples, MIT Sloan, UCLA Anderson, UVA Darden, CMU Tepper, and LBS are few top schools that offer a degree in Analytics. Some of these programs are more difficult to get into than their respective school’s MBA programs!
Canada seems to have been ahead in this data revolution. U of Toronto’s Rotman School, Western’s Ivey School, Queen’s Smith School, British Columbia’s Sauder School, and York University’s Schulich School, all offer a Masters in Analytics. These programs are well regarded in the country. In fact, Queen’s University was also the first to start a Master of Management in Artificial Intelligence in Toronto. The program features a state-of-the-art blended curriculum, star faculty, weekly interaction with industry experts, company visits, and a capstone project, all very well managed by the School.
I have always advised my clients to (a) follow their interest, in case they know what they want, and (b) prepare for where the ball will be in the future. The MBA is here to stay, and the future is digital. Whether you get an MBA or a Masters, successful professionals will be at the forefront of data and AI. And if you opt for an MBA, you should, at the very least, expect to equip yourself with technical tools within your focus area, whether function or industry. For example, if you wish to study Marketing, plan to get deep knowledge in marketing analytics, and if you wish to study the entertainment industry, intend to get comfortable with technology trends in that space. All top MBA programs now offer a plethora of courses that will allow you to gain skills you need for your chosen space.
Ultimately, both degrees offer a path to corporate leadership. Once you join a company, other factors, both internal and external will play a role in your progression. What program to opt for will warrant a more detailed observation of individual profiles. Each candidate has a set of circumstances, and it is impractical to generalize with simple frameworks. With this article, I hope to provide you with some information to aid your decision-making.
My recommendation is as follows – in case you are on the less experienced side, and prefer to fast track your career with a degree, a Masters in Analytics may very well be the way. Also, if you have an undergraduate degree in business or commerce, a degree in Analytics will add depth to your profile. For those who have technical backgrounds, such as in computer science or engineering, or for those who wish to seek broader industry exposure and keep options open, the MBA will likely be the degree of choice.
Then there are other programs. In case you have identified an area of interest, you could go for a specialized program, such as a degree in Supply Chain, Digital Product Management, Real Estate, Fashion Merchandising, Hospitality, or Finance. There are top-ranked programs in every space, and career opportunities post them are aplenty.
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Discover the QS World University Rankings: Masters in Business Analytics Rankings 2021 here
Today (September 25), TopUniversities launched the second edition of the QS World University Rankings: Business Masters Rankings, a ranking of the top postgraduate programs in management, finance, business analytics and (new this year) marketing. The ranking aims to provide greater insight for business-minded students who aren’t sure whether they should pursue a traditional MBA degree (Master of Business Administration) or a more specialized business master’s degree.
Of the four subjects featured this year, management, marketing and finance are both well-established study options, but business analytics is perhaps more unknown. Read on for more information about this growing area of study and find out whether it’s right for you.https://5dcaf3207e147f2fdfbde3b22eca4ebd.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html
What is business analytics?
Business analytics takes a data-driven approach to the world of business, using statistics and data modeling to develop new business insights. This blend of technology and business makes it an ideal study option for anyone with an interest in programming or working with big data.
While programs vary between universities and business schools, typically students will be trained in data analysis and business intelligence tools, so they’re able to do things such as predictive modeling. This involves analyzing data about a business’s past performance to predict how it will perform in the future and make business decisions accordingly. For example, a chain of restaurants may use data to decide where to open their next branch.
Why is it becoming more popular now?
As a postgraduate program, business analytics is relatively new. However, the concept dates back to the late 19th century and was notably used by car manufacturer Henry Ford, who would measure the time it took to make each component on the assembly line in his factories. Business analytics has developed vastly since then though, with the rise in computing power allowing for increasingly complicated analysis to take place.
Now, business analytics is used in most of the world’s major companies and is particularly valuable in Silicon Valley, where tech start-ups are keen to exploit any data-driven advantages which will help them break into the mass market. Some larger businesses may not have their own in-house business analysts, but there are also a notable range of business analytics companies which offer their services on a consulting basis.
Due to the rising interest in business analytics in the tech sector, more and more business schools have begun to offer a master’s in business analytics. This rise has largely been driven by American universities and schools, which explains why the majority of institutions in the QS Business Analytics Rankings are from the US.
So, which are the best business schools for studying business analytics?
The latest ranking of business analytics degrees was topped by Sloan Graduate School of Management at MIT in the US. Containing over 70 institutions, you can explore the QS Business Masters Rankings: Business Analytics 2020 table here, and compare different schools on the five indicators used to compile the ranking.
Mim Vs Masters In Business Analytics
Some business schools, like SMU in Singapore, offer a variety of MBA and MiM programs
When most people think of graduate management education, the MBA is top of mind. But a relatively new qualification—the Master in Management (MiM)—has been gaining popularity.
MBA vs MiM
While the MBA started at Harvard in the US over 100 years ago, the MiM has come to prominence in the past 20.
The key difference is that while both courses cover a range of business topics and general business principles, the MBA is usually designed for people with a few years of work experience.
The MBA is seen as a career accelerator or a tool for career development or change. The MiM is more of a career kickstart for those with little or no work experience, fresh out of their undergraduate degrees.
The MiM generally attracts younger candidates compared to the MBA, with most MiM candidates in their early twenties.
The MiM admissions process has less of an emphasis on work experience, but much of the application is similar to that of an MBA. Most programs require references, essays and standardised test scores (like the GMAT and GRE).
The MiM is designed to help pre-experience candidates launch their careers. There is a focus on gaining a solid management foundation and often on the global nature of business.
MiM graduates will normally aim for entry level positions while MBA graduates will usually aim for mid or senior-level positions. Those with MBAs will command greater salaries, in part, due to their previous work experience.
According to a report from the Graduate Management Admission Council (GMAC), MiM graduates seeking employment in Europe and Asia-Pacific have an advantage over those seeking employment in the US, because there is more employer recognition in these regions.
This could soon change as the MiM becomes more popular among global employers and more schools across the US and Asia offer MiM programs.
The first blended MiM program in Asia
One such school is Singapore Management University, which alongside its flagship MBA program offers a full-time Master of Science in Management (MiM) and a blended learning MiM—the first of its kind in Asia.
The MiM program at SMU has an internship component which allows candidates to gain real-world work exposure in Singapore. The program also focuses on a Global Asian-focused Management Curriculum.
The blended MiM combines online modules, delivered through a global award-winning learning platform, with four short campus visits. While this option is best for people who want to study and work at the same time, a more immersive full-time option is also available.
Like MBA candidates, MiM candidates get access to career services with strong connections to the local business community and leading multinationals.
How can you choose between an MBA and an MiM?
It’s not that clear cut. Getting an MiM also does not preclude you from getting an MBA later on in your career.
You may benefit from obtaining both qualifications at different points in your professional life.
Look at class profiles, speak to alumni, and visit school campuses. Think about what stage you’re at in your career, and what you want from your degree, to work out which program will suit you best now.
Business analytics vs. management
The business world is complex, fast moving, and always changing. Working in a business-focused career involves a deep understanding of that world, backed by quality education and experience. There are many ways to enter the business world –– in fields that range from management and accounting to analytics, finance, sales, and marketing. Each career path requires different job skills, but they all benefit from workers who are analytical problem-solvers who can adapt to new challenges and make a positive impact on companies large and small.
If you’re considering a career in business, the right education is crucial to your future success. Two popular undergraduate choices for students interested in entering the business world are business administration and business analytics degrees. While these degrees have different courses that emphasize different skills, they can both lead to lucrative, challenging careers. Read on to learn about these two programs, what they have in common, and how they differ.
Business Administration Degree Overview
Business administration degrees provide students with an overview of business practices. They usually include courses in communication, accounting, economics, marketing, finance, management, law, and statistics. Degree programs such as Maryville University’s online bachelor’s in business administration allow students to choose a focus in accounting, finance, healthcare, or information systems.
What Do Business Administration Degree Graduates Do?
Business administration graduates equipped with general business foundation can pursue a variety of roles. They can work in different industries as part of a startup or a large corporation. Some might even decide to launch their own business. Based on their area of interest, they may also return to school to continue their education, perhaps with a specialized Master’s in Accounting or an advanced Master of Business Administration (MBA). An MBA creates opportunities in management roles or even executive positions if paired with on-the-job experience.
Types of careers:
- Sales Manager: Sales managers work for companies that sell a product or service. They oversee the performance of sales teams while also working with customers and clients to garner feedback on products and services.
- Human Resources Manager: HR managers and directors oversee personnel concerns in companies of all sizes. They impact hiring practices and workplace ethics, help mitigate disputes, and navigate other employee issues as they arise.
- Market Analyst: Market analysts are data experts who advise companies and investors about financial decisions. They’ll look at the economic dynamics of a product or resource, for example, and help determine whether it’s a worthy investment strategy.
- Accountant: Accountants help businesses and individuals manage their money and ensure they spend it efficiently and legally. They are experts on taxes, but they also monitor profit and loss sheets and advise executives on how they can save money and increase profits.
Business Analytics Degree Overview
Business analytics degrees combine a business education with technical skills in programming and working with large data sets. Students take courses in business, finance, and marketing, but coursework may also include technical classes in computer programming, data analysis, and statistics. Some programs offer courses in data mining, data visualization, and predictive modeling. Those courses help students acquire technical knowledge that allows them to design programs that can analyze large data sets. Business analytics degrees can be undergraduate or graduate degrees, such as Maryville University’s online master’s in business data analytics.
What Do Business Analytics Degree Graduates Do?
Business analytics graduates have gained the skills necessary to begin careers using their technical abilities. Many industries need professionals who can analyze and interpret large sets of data. Business analytics graduates can also work in a wide range of industries including healthcare, advertising, journalism, finance, banking, and travel. They may also choose to go back to school to pursue a master’s degree in business data analytics or strategic-communication-leadership, as examples.
Types of careers:
- Financial Analyst: Financial analysts look deeply into investment opportunities to help institutions make profitable decisions. They analyze stocks, bonds, markets, companies, and anything else that could be a potential investment target.
- Statistical Analyst: Statistical analysts take large data sets and process them for business decision-making. They could work in a variety of settings, including sports teams, healthcare, finance, and more.
- Business Management Analyst: Business management analysts are efficiency experts. They analyze a business’s organizational structure and identify areas in need of improvement.
- IT Specialist: Business analytics graduates can put their skills to use in information technology, thanks to their background in programming. There is a particular need for their expertise in businesses that use custom software and hardware.
Similarities Between Business Administration and Business Analytics Degrees
Business administration and business analytics degrees both position graduates to work in the business world. Both degree programs focus on helping students make a positive impact, think critically, and communicate effectively. Graduates of both programs can work in similar sectors, such as finance, healthcare, or manufacturing. They are well prepared for positions as financial analysts or organizational analysts.
Differences Between Business Administration and Business Analytics Degrees
While numerous different degree opportunities exist for those interested in the field of business, both business administration and business analytics degrees remain popular. There are many differences in academic courses and career paths after college for these two degrees.
Business administration degree programs include core business courses such as finance, marketing, economics, accounting, and management. This prepares students for many business roles, choosing the specialty that fits their needs and interests most. While students in a program such as Maryville University’s online bachelor’s in business administration have the option of taking a course in information systems, computer courses are not mandatory.
Business analytics degrees focus on setting up graduates for careers that apply data and computer-based skills to the field of business, including courses on programming languages, analytics framework, statistical analysis, data visualization, and modeling.
Business administration degrees prepare students for many different careers. The degree concentration points graduates in one direction, but the versatility of their coursework means they can ostensibly take on any of a wide variety of roles upon graduation. They also can open their own businesses and become entrepreneurs.
Business analytics graduates are equipped to take on analytics roles in several fields including banking, manufacturing, federal government, and professional services. They’ll want to take advantage of their programming knowledge and analytical problem-solving skills in pursuit of professional fulfillment.
mim business analytics
It’s no surprise why students everywhere are increasingly interested in master’s degrees in business analytics. Several years ago, the prestigious Harvard Business Review publication proclaimed that data science was the “sexiest profession of the 21st century. Today, the demand for those clued up on data and analytics remains red hot.
Indeed, a recent LinkedIn report found there were more than 151,000 data science jobs going unfilled across the US. The “acute” skills shortage means that data scientists can earn annual salaries of more than $100,000.
Business analytics, as a skill, is critical for organizations wishing to gain a competitive advantage amid a deluge of data—often referred to as ‘Big Data’— on customers and operations. As such, the best master’s courses in business analytics will cover a variety of technically-oriented subjects, such as data management, simulation, and predictive forecasting, for example. Some master’s courses in business analytics will also cover ‘softer’ skills, such as customer relationship management and marketing, perhaps.
Because of the growth of this field, it absolutely makes sense that many of the world’s best business schools are now running dedicated MScs in Business Analytics, We’ve charted the best of the courses, below. MIT Sloan School Of Management – Master Of Business AnalyticsCambridge, Massachusetts
The Massachusetts Institute of Technology is one of the world’s most esteemed tech research universities. So it’s no surprise that it gets top billing in our list. MIT’s Sloan School of Management runs a Master of Business Analytics program for fresh college graduates who come from a wide array of backgrounds –engineering, maths, physics, computer programming – which facilities cross-fertilisation of ideas.
Imperial College Business School – MSc In Business AnalyticsLondon, United Kingdom
Imperial College Business School in London is another top-rated institution with a strong STEM reputation. The school is recognized as a world leader in the study and analysis of data, and houses the KPMG Centre for Advanced Business Analytics, which develops excellent links with employers like Deloitte and JPMorgan. Imperial’s MSc in Business Analytics can be taken part-time over two-years, significantly reducing the opportunity cost of not working.
NYU Stern School Of Business – Master Of Science In Business AnalyticsNew York City, New York
There are few schools globally that have as strong a reputation for both data, mathematics and business as NYU in New York City. NYU’s Stern School of Business runs the Master of Science in Business Analytics program. It is taught in the Big Apple, but also at NYU Abu Dhabi and NYU Shanghai. This gives participants an unapparelled global perspective that is essential to any business role.
University Of Texas At Austin McCombs School Of Business – Master Of Science In Business AnalyticsAustin, Texas
The University of Texas at Austin, McCombs School of Business offers a highly rated Master of Science in Business Analytics program. The course is STEM-certified, which is big news for overseas students who want to stay in the US and work. It gives graduates an extra 24 months of Optional Practical Training, a 12-month post-study work visa scheme.
ESADE Business School – MSc In Business AnalyticsBarcelona, Spain
ESADE Business School in Barcelona runs the MSc in Business Analytics that was in 2018 ranked fifth in the world by QS. Students learn from leading international experts through hands-on training: there are practical projects with real companies, with students visiting high-tech companies and networking with leading tech visionaries.
USC Marshall School Of Business – Master Of Science In Business AnalyticsLos Angeles, California
The course at USC Marshall School of Business in California was ranked as the best business analytics program of 2018 by the TFE Times. USC Marshall is a world-renowned business school in its own right. The school’s Trojan Network of students and loyal alumni is famed for its ability to facilitate job searches. Another perk is the Los Angeles location, a vibrant hub for business and culture.
Alliance Manchester Business School – MSc In Business AnalyticsManchester, United Kingdom
Alliance Manchester Business School is one of the UK’s best institutions, and it runs a highly regarded MSc in Business Analytics that was ranked 7th globally by QS in 2019. The course is highly experiential — students work on consultancy projects with real clients, developing skills that translate into a global business environment. It’s not only good experience: it generates excellent networking opportunities.
Warwick Business School – MSc In Business AnalyticsCoventry, United Kingdom
Another well-ranked UK institution, Warwick Business School runs an MSc in Business Analytics that is renowned among British corporations seeking data analytics skill. WBS has links with blue-chip employers that have previously hired students, among them British Airways, Capgemini, IBM, Tesco, and Procter & Gamble.
Melbourne Business School – Master Of Business AnalyticsCarlton, Australia
The Melbourne Business School Master of Business Analytics program brings together experts from computer science, statistics, mathematics and business management to deliver a cross-disciplinary education that employers are crying out for. Students at the leading Australian business school also learn to use hot-in-demand practical programming and data analytics tools such as SAS, R, Python and Tableau.
Arizona State University (ASU – Carey School Of BusinessTempe, Arizona
At this top-ranked business school in Arizona, the MSc in Business Analytics is run over a breezy nine months but includes 10 different data and analytics courses. Amazon, Apple and Facebook are among the top tech employers to hire graduates from the course recently. And a recent investment by the W. P. Carey Foundation of $15m to improve career services, means students have more access to employers, job listings and career coaching than ever before.