Top professional courses on Data Analytics
| Offering College | Course | Website |
|---|---|---|
| IIM Kozhikode | Professional Certificate Programme in Advanced Data Analytics for Managers | Visit |
| Indian School of Business | Applied Business Analytics | Visit |
An exceptional illustration of this is the IIM Kashipur MBA (Analytics) program—a two-year, full-time residential curriculum designed to mould visionary leaders and proficient managers who can make a lasting impact in our increasingly data-driven world. This program is dedicated to arming students with the necessary knowledge, skills, and leadership attributes to adeptly navigate the dynamic business landscape. The prime focus of the institute lies in cultivating well-rounded individuals through a balanced amalgamation of academic rigour, professional exposure, and enriching extracurricular engagements. Deshmaa RT and Sakshi Poddar, part of the MBA (Analytics) 2020–2022 cohort at the Indian Institute of Management Kashipur, present a comprehensive overview of the vital considerations and factors to weigh when contemplating embarking on an MBA journey in the realm of Analytics.
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What Does MBA in Business Analysts Contain?
Your core field of education in business and management is an MBA, which prepares managers and other business leaders. You gain a solid understanding of business foundations from your MBA programme, which also teaches you “soft” and “hard” business abilities. This is covered in a set order of required courses, or “core courses.” As part of your MBA core, you might take a few of the following classes
- Accounting
- Finance
- Advertising
- Operations
- Macroscopic economics
- International Trade
- Minimal Economics
- Personnel Resources
- Management
Are Business Analysts and Data Science Same?
In order to understand business performance (past, present, and future), a business analyst must conduct research and collect relevant data from data sources. A business analyst frequently chooses the best strategy to build the organisation. While data scientists gather, examine, and evaluate large data sets and use their programming, mathematical, and analytical skills to extract insightful knowledge for solving business challenges. The overall duties, skill sets, and user contact are the three main distinctions between business analysts and data scientists.
- General responsibilities: Business analysts give the functional specifications that guide the design of IT systems. Data scientists, on the other hand, draw importance from the data produced and handled by such systems. Additionally, data scientists may be able to supply certain market insights and streamline the tasks of the company analyst. Business analysts are paid slightly more than data analysts when financial perks are taken into account.
- Business analysts require knowledge of data science as well as communication, critical thinking, negotiating, and management abilities. However, data analysts require a more in-depth understanding of technological data manipulation in addition to equivalent talents.
What Does MBA in Business Analyst Contain?
Your focus on business analytics will delve into specialised data knowledge and business analytics, as well as teach you to comprehend business difficulties through a data-driven lens. You can practise realistically by using the most sophisticated business analysis tools, case studies, and projects, which include real-world data. The following courses might be included in a business analytics MBA concentration:
- Sheet-Measurement Modelling
- Analytics in Accounting
- Market Research Analytics
- Analysis of financial data
- Financial Statistics
- Incorporated Regression
- The Fundamentals of Management Science
- Database Mining
- Modelling and Forecasting
- Computing for Business
Is Business Analyst A Good Career?
The need for business analysts has grown dramatically as digitalization has gained popularity in recent years, with technology and data being used everywhere from small grocery stores to upscale malls. Additionally, studies show that 6 billion linked gadgets generate gigabytes of data per hour. Due to the rising demand, there is a shortage of professionals.
One can learn the following skills from the aforementioned courses provided by MBA institutions: Python, SQL databases, and R; survey/query software; business intelligence; reporting software; data visualisation; database design; problem-solving abilities; effective communication; creative thinking; and industry knowledge. Due to these, they are better suited to a variety of jobs, such as data analyst, supply chain analyst, big data analyst, business analyst, marketing analyst, finance analyst, HR analyst, etc. Business analytics is a relatively recent and well-liked specialisation in the management field due to the rising need for MBAs with analytical skills.
Benefits of Business Analysts?
Due to its business coherence and cutting-edge application-related employment roles, business analytics draws the target base more than data science. Aside from these, there are a few other advantages to using business analytics, including the following:
- Better decision-making: When approaching a significant strategic decision, business analytics can be a useful tool. Business analytics can be used, for instance, to analyse a company’s product line update and assess whether the revised product has led to quicker service, more accurate recommendations for resolution, and greater customer satisfaction levels.
- Increased operational effectiveness: Analytics can be utilised to optimise business procedures in addition to their financial advantages. Business analytics can be used to forecast business operations and help the company schedule maintenance more efficiently, enabling it to save on operating costs while also ensuring that assets are kept performing at their best.
What are the Job Aspects of Business Analysts?
The McKinsey World Institute report estimates a shortage of 1.5 million analysts. You are qualified for a wide range of employment, including well-liked C-suite positions, with an MBA in Business Analytics. This is due to the fact that MBA holders are capable of holding leadership positions in a variety of corporate settings. Health industry marketing, supply chain management, and data-driven decision-making are becoming more and more in demand across all business sectors. Companies often offer these job roles to candidates based on their subject expertise, skills, and work experience.
The MNCs, retail and manufacturing businesses, IT businesses, e-commerce businesses, consultancies, telecommunications businesses, and business analytics and intelligence firms all contribute to the increasing demand for professionals with an MBA in business analytics. MBAs are employed by startups as well as multinational corporations. You won’t be looking at data science work because an MBA is essentially a business degree in business analytics. Instead, data-driven positioning will be available to you. With analytics expertise, you will also have an advantage when applying for more broad business management employment.
In conclusion, the MBA in Business Analytics is a developing field of expertise that is gaining ground across all industry sectors. Those of you who have been on the fence about pursuing this career path for a while can now start your MBA journey in Business Analytics because the specialisation shows a favourable and hopeful future.
Frequently Asked Questions
What does an MBA in business analytics cover?
You can apply for employment as a business analyst, data analyst, data engineer, predictive modeller, risk management analyst, etc. after earning your MBA in Business Analytics.
How much does an MBA in business analytics make?
An MBA in Business Analytics graduate can pursue a variety of careers, including those as a data analyst, technical team leader, data scientist, or data mining specialist, at an average salary of INR 4–12 LPA.
Is coding required for an MBA in business analytics?
A Master’s in Business Analytics is heavily quantitative, and you’ll spend a lot of time learning advanced programming languages like Python. It would be advantageous but not necessary to have some prior coding experience prior to enrolling in the programme.
Disclaimer: This content was authored by the content team of ET Spotlight team. The news and editorial staff of ET had no role in the creation of this article.