The economy of tomorrow is set to be very different from the one we have today, and we are just now seeing glimpses of it. Teams will need to be more nimble and agile, and new managers will need to be able to adapt to these changes. New sectors will emerge, while others that saw less attention will get more recognition. Also, we can expect whole sectors to become obsolete, hence why you must think about the future before picking a major today. Here are 6 great degrees for the new economy.
Business analytics is a great choice whether you’re a current Leadership MBA business owner wanting to run a more efficient operation, an executive, or someone who would like to go in a major with increasing demand.
Data is everything nowadays and those with a degree in business analytics have all the skills needed to gather, compile, analyse, and present data. They can then use this data to build predictive models.
During your course, you will learn how to solve problems better, gain analytical skills, and learn some soft skills like communication. If you already have a business background, getting a business analytics masters could be a great way to move up the ladder and become a more well-rounded executive.
The great thing is that you don’t necessarily have to attend classes in person nowadays. There are many great online business analytics masters programs that allow you to get your credentials from the comfort of your home. You could take your classes in the evening or weekend and get your qualifications while keeping your job. Not only that, but you’ll become increasingly competent in your position as you integrate new concepts.
Some of the top jobs for those with a business analytics degree include data scientist and business analyst. This is a great degree to have if you want to work as a consultant as well. Another thing you could do is work as a process analyst. A process analyst will look at a company’s processes and help spot inefficiencies with the help of data. They will then help come up with solutions to address these inefficiencies.
Accountants play an essential role in all businesses. Every business needs someone to keep track of financial information, and accountants not only fill this need, but go a step further.
An accountant is the perfect strategic partner if you want to increase your cash flow. They can help you identify areas where you’re overspending. They can help with forecasting and even increase your chances of securing financing. They can also help you find out about different government schemes and benefits.
A good accountant can also be there to help you find out if there might be some money leaking somewhere and what the cause is. You might be able to find that a malicious agent is manipulating your business’s finances. More importantly, accountants ensure that your business stays away from tax trouble. This is a qualification that will continue to see great demand as the tax code and requirements become increasingly complex.
More businesses are moving online and most have some sort of online presence. This has prompted many schools to introduce programs where students can get a foundation in informatics but with a business component. E-commerce, or e-business degrees as they’re commonly referred to, differ from program to program and will have different areas of concentration.
E-commerce majors will be able to build e-commerce sites for businesses and manage them. They will make sure that their sites are safe and reliable. They will also work on constantly tweaking and improving them. Also, they might be in charge of coordinating online marketing efforts using a variety of techniques.
Finance is another one of those evergreen majors that will continue to see a lot of demand in the next few years. At its core, finance is the study of capital in a corporate setting. However, while accounting concentrates on transactions, finance focuses on funding people, businesses, or even entire nations.
Note that finance is a very rigorous program and the field is very demanding. However, it is one of the most respected and recognised degrees in the industry, and one that will open many doors for you. It’s also one of the majors where graduates get the best salaries after graduation and it’s not uncommon for level entry jobs to pay in the 6 figures.
Supply Chain Management
This is probably one of the most important majors to have in the current economy and will continue to be in the future. Sourcing demands will change a lot as the face of retail is rapidly transforming. People will need to have more efficient supply chains and supply chain managers are there to keep the wheels moving, even in the face of massive disruption.
Good supply chain managers play an essential role in making sure that the chain is robust enough at every level. They also are responsible for gathering and relaying important data between sellers, suppliers, and producers. They might work in manufacturing or retail.
Supply chain managers can also help businesses save money in a wide number of ways. They can help improve inventory management, for instance, and keep waste to a minimum. They can also improve the quality of products by finding better suppliers for materials and components.
This is a great major for those who love variety and are great at problem-solving. It’s also a great field if you want to get down to the nitty-gritty and understand the inner workings of a business.
This is a very important major that everyone should consider if they were thinking of working in tech. Having a business background is great, but being able to foresee potential breaches before they happen is a very important skill to have in this economy. This is a great degree to have if you want to become a tech entrepreneur, but it will also allow you to work in all sorts of industries, may it be healthcare, the public sector, or even non-profit organisations.
These are all great degrees that you should consider if you want to find a great position in the years to come. We suggest you give them all a closer look and pick the one that fits your profile the best.