Masters in Business Analytics in UK: Universities, Courses, Fees & Scholarships

In an era where data is the new oil, Business Analytics has become a cornerstone for organizational success. The discipline involves the application of data science and machine learning techniques to resolve complex business challenges. 

Masters in Business Analytics is a one-year specialized postgraduate program designed to furnish students with the analytical prowess needed to forecast trends, construct models, and make informed, data-backed business decisions. There is a wide range of career possibilities in virtually any industry for those who choose to take this degree course.

Why study for a Masters in Business Analytics in the UK?

The United Kingdom has long been a magnet for international students, thanks to its rich educational heritage. The country boasts prestigious universities that offer top-notch education in the universally spoken English language. Masters in Business Analytics has gained significant traction recently, and British universities have promptly responded by offering an array of programs to satisfy this burgeoning interest.

Advantages of Studying in the UK:

• Prestigious Institutions: The UK is home to globally renowned universities that offer cutting-edge Business Analytics courses.
• Exceptional Career Opportunities: Graduates from UK universities enjoy a competitive edge in the job market, thanks to strong industry connections.
• Safe and Inclusive Atmosphere: The UK offers a multicultural environment with robust student support in visa procedures, accommodation, healthcare, and personal safety.
• First-Class Amenities: The UK provides a rich cultural heritage and state-of-the-art public facilities that enhance the overall student experience.
• Attractive Remuneration: Business analysts in the UK are among the highest earners in the industry.
• Accelerated Learning: The one-year duration of the program ensures a concentrated, yet comprehensive, learning experience.
• Post-Study Work Visa: International students can avail themselves of work visa opportunities or even launch their own ventures post-graduation.

Masters in Business Analytics Highlights

The Masters in Business Analytics postgraduate program is an accredited one-year program intended for graduates with a strong quantitative background. It offers a harmonious blend of business acumen, mathematical skills, and technological proficiency. The curriculum incorporates a myriad of statistical techniques, quantitative methods, and essential programming languages like Python, R, SQL, and Tableau.

Types of Masters in Business Analytics courses in the UK

A Masters's in Business Analytics is a general, in-depth program, but some universities do offer different specialized options for students who prefer to focus on a specific area of interest. Certainly, available specializations are listed below:

• Master in Business Analytics and Decision Science
• Master in Business Analytics and Management Science
• Master in Business Analytics Operational Research and Risk Analysis
• Master in Business Analysis and Strategic Management
• Master in Business Analytics and Big Data
• Masters in Business Analytics – Financial Analysis
• Masters in Business Analytics – Marketing 

Best Universities for Masters in Business Analytics in the UK

Imperial College London

At the forefront of data science and analytics, Imperial College London offers a technologically advanced environment, complete with a state-of-the-art Data Observatory. With a proven track record of graduate employability, the university prides itself on offering unparalleled student support. Statistics show that 99% of graduates are employed within 6 months, and 49% are employed in the UK.

University of Manchester

Designed for those keen on business analysis and consulting, this university has an impressive roster of recruiters like Accenture, Deloitte, EY, and IBM. It serves as an excellent stepping stone for both professional and academic pursuits in business analysis.

University of Warwick

Warwick Business School is well known for its business programs. This globally recognized certification is offered by INFORMS (USA) and the Operational Research Society (UK). It equips students with the necessary skills closely aligned with the certification exam's core content.

University of Edinburgh

This university offers a superior program that aims to hone computational and analytical skills, making students proficient in various decision-making processes within multiple business settings.

University of Leeds

Triple-accredited by AACSB, AMBA, and EQUIS, Leeds University Business School provides access to eminent academics and industry experts who are involved in the latest research, and advise businesses, governments, and international bodies. Students can contribute to the Leeds Institute for Data Analytics.

Other notable universities in the UK are the University of Southampton, the University of Essex, the University of Surrey, Lancaster University, Aston University, Durham University, and the University of Kent. 

Course Curriculum of Masters in Business Analytics in the UK

In this program, students will gain the skills required to analyze business data effectively. They will be able to master:

• Data Handling: Learn to identify, pull, and clean data.
• Statistics and Machine Learning: Use these tools for data mining and making future predictions.
• Decision-Making Models: Create and use complex mathematical models to make business decisions.
• Data Reporting: Use graphics and text to communicate your findings.
• Programming: Perform data analytics in Python and through specialized software such as IBM SPSS Modeler and IBM CPLEX.

Core Subjects

• Data Analytics
• Statistical Analysis
• Business Intelligence
• Data Management and Data Warehousing
• Predictive Analytics
• Decision Modelling
• Machine Learning

Elective Subjects

• Big Data Analytics
• Social Media and Web Analytics
• Marketing Analytics
• Supply Chain Analytics
• Financial Analytics
• Healthcare Analytics

Eligibility Criteria for Masters in Business Analytics in the UK

To apply for the Masters in Business Analytics program in the UK, students will need a Bachelor's degree from a recognized university, preferably in a quantitative discipline (a subject that includes a lot of math or science, like physics, engineering, or economics). A good score (60-80%), especially in these subjects in the undergraduate degree, will be beneficial.

Admission Requirements for Masters in Business Analytics in the UK

An interview could be part of the process, often conducted online for international students. Essential documents required to be submitted when applying for the Master in Business Analytics at UK universities are listed below:

• Filled online application form
• Copy of bachelor’s degree certificate/ transcripts
• Two academic references
• Statement of Purpose (SoP)/personal statement
• CV/Resume
• English Language Proficiency Exam scores are required for all international students.
• Recommendation letters from professors or employers
• GMAT/GRE scores (recommended)
• Proof of funds
• Valid Passport and UK Student Visa 
• Work experience certificate ( if applicable)

Admission Process for Masters in Business Analytics in the UK

The admission process for the best universities for the Masters in Business Analytics in the UK is divided into two intakes. The first intake is in January/February while the second intake is in September/October.

Steps to complete the admission process: 

• Choose the UK university of your choice by considering factors such as program curriculum, faculty expertise, university rankings, fees, job prospects, and location.
• Visit the official university website and check all the admission requirements, such as academic qualifications, English language proficiency, and GMAT/GRE test scores.
• Complete the application form and attach all the relevant documents. Pay the application fee mentioned on the website.
• After submitting your application, you will usually receive a confirmation email with login details to track your application status. 
• If you obtain an admission offer, review the offer letter. If satisfied, follow the instructions to confirm your acceptance to the university. Pay the tuition fees and complete the enrollment process.
• Obtain the CAS letter and use it to obtain a UK student visa.

Cost of Studying Business Analytics Masters in the UK

The cost of studying a Master in Business Analytics in the UK can be divided into two categories, pre-arrival and post-arrival expenditure.

Pre-arrival costs:

1. English Language Proficiency exam 
2. TOEFL - The TOEFL IBT exam fee in India in 2023 is $195, which is approximately Rs 16,145. The cost of the TOEFL Essentials Test in India is $120, which is approximately Rs 9,941. TOEFL fees in UK is $245 (INR 20,315)
3. IELTS – The exam fee is Rs 16,250.
4. Visa costs
5. £363 to apply for a Student visa from outside the UK
6. £490 to extend or switch to a Student visa from inside the UK

Post-arrival costs:

1. Tuition Fees - The fees for applying to renowned universities in the UK to study Master in Business Analytics will range between £25,750 and- £35,100 a year.
2. Cost of Living - The cost of living in the UK depends on the university you choose and the particular location. The average cost of living in the UK is $1200- $1500 a month, and for a year, it is usually £10,000- £16,000 a year.

Scholarship for Masters in Business Analytics in the UK

All top universities offer scholarships for international students based on their academic merit, financial need, or even both. 

• Chevening Scholarships: These scholarships are awarded by the government to academically excellent students from around the world who desire to obtain a master's degree in any subject from any UK university. It is covered for one year, and about 1500 are offered every year.
• Commonwealth Scholarships: These scholarships are offered to students who belong to a middle-class background in developing Commonwealth countries. This scholarship covers all education expenses.
• University-specific scholarships: Renowned universities offer their own scholarships to international students. Some examples are provided below:

Job Scope for Masters in Business Analytics in the UK

International students who complete the Masters in Business Analytics program are eligible to apply for the post-study work visa which allows them to stay in the UK for up to two years to find a job. 

The demand for this role is growing, and graduates are highly paid in the UK earning anywhere between 47,000 to 57,000 GBP per year. Salaries vary depending on the level of experience, the industry, and the location. The demand for business analysts is expected to grow by 22% over the next few years, which is faster than the average for all specializations.

Premium companies like Deloitte, Barclays, Citi, Accenture, HSBC, Amazon, Citi, Accenture, and HSBC among others often hire graduates of this program.