There has been quite a buzz surrounding business analytics in recent years, and it is no surprise that many individuals are considering it as a major. While the popularity of this field is increasing day by day, there is still confusion regarding whether business analytics is a STEM (Science, Technology, Engineering, and Mathematics) major or not. In this blog post, we will explore the definition of STEM, the principles of business analytics, and conclude whether business analytics can be categorized as a STEM major.

STEM refers to the four disciplines of Science, Technology, Engineering, and Mathematics. These fields share a common approach to learning, placing emphasis on logical thinking, scientific inquiry, and quantitative reasoning. Students in STEM majors typically learn to analyze and solve problems through scientific methods and create new knowledge through research. By this definition, business analytics can be considered as a STEM major, as it is strongly rooted in mathematics and science.

Business analytics is the practice of using quantitative methods, statistical models, and data analysis techniques to extract insights from data and make informed business decisions. This field involves a deep understanding of statistical techniques, computer science, and business fundamentals. It requires the ability to identify trends, patterns, and connections in data and using that information to inform decisions. Business analytics uses math, statistics, and basic computer skills to help businesses reduce costs, optimize processes, and improve their decision making.

Business analytics is undoubtedly a technology-driven field requiring extensive knowledge of computer science. Business analysts use various tools, such as programming languages, database management systems, and data visualization software, to turn raw data into actionable insights. They also need to understand the underlying technology to use these tools effectively. Therefore, it is correct to say that business analytics has a technology aspect to it, which is the hallmark of STEM education.

Mathematics is a crucial part of business analytics. Professionals in this field must combine mathematical techniques with statistical methods to discern insights from complicated data sets. It’s a discipline that relies on accurate estimation, counting, probability, and statistical interpretation. Moreover, it is critical to understand mathematical models like regression analysis, hypothesis tests, and correlation analysis to develop reliable, robust, and replicable predictive models. This emphasis on mathematical understanding and analysis is another indication that business analytics is a STEM major.

Conclusion:

In conclusion, business analytics is a STEM major because it employs scientific methodologies to analyze and interpret vast amounts of data. It involves mathematical and statistical knowledge, requiring an understanding of technology to create models and conduct analysis. Students studying business analytics will learn critical thinking, data analysis, and decision-making skills, making them invaluable members of any organization. Therefore, anyone considering business analytics as a major should not hesitate to pursue this field, as it is a highly respected and lucrative STEM major.