94% of companies' verdicts are data and analytics play a vital role in their business growth strategies. Does that ring a bell?
Post Graduate Management Programs / MBA are in great demand across the world and with the diverse specializations offered; young graduates are aspiring for as well as joining the programs. MBA / PGDM offer a wonderful launch-pad for a riveting career not only in the corporate but also public sector and SME. Startups are looking for management graduates with good records like never before.
We need knowledge of how to launch a new product, devising GTM strategy, how to do sales and marketing, manage accounts & finance, deploy human resources and also how to adopt technology and make the best of it. Management programs and MBA prepares you for all this and much more. It is not just about the skills you learn but also about the holistic development of an individual.
These days all businesses are data-driven. You must be generating a lot of data yourself wither by making calls, sending messages, interacting on social media, making bank transactions, posting online feedback and many other activities. Imagine most of the population doing this especially in a country like India where mobile usage is increasing phenomenally by each passing day. Companies and institutions have started using this data to their advantage by predicting future events based on past trends and many other factors that have or might have an impact on future events. With good data analysis the probability of sound decision-making increases many folds. So these days it is not just about the human instinct or gut or feeling, it is about what you infer based on factual data available to you. But can anybody and everybody make sense out of the raw and humongous data? No! You have to be professionally skilled and trained to handle data, to mine it, to manage it, to infer it, to filter it, to understand the dynamics etc. This can be made possible by learning the nuances of Business Analytics.
Now the question arises – What is Business Analytics and what are the job roles of a business analyst and why is it so important for business growth?
Business Analytics is a science as well as an art. A data scientist or data analyst extracts the information from the raw database by using statistical tools, software techniques and programming languages and then a business analyst converts it into a meaningful story through data visualization. With his business intelligence, he presents the optimal solutions to decision-makers of the companies and they in turn take decisions for their business growth.
As per a report by Allied Market Research, the Global Big Data and Business Analytics Market are expected to grow at a CAGR of 10.9% to reach $420 Billion by 2027.
Every organization (small or big) needs professional(s) who understand how to analyze data, and s/he must have knowledge in other domains of business-like Marketing, Finance, Human resources, Economics, Operations etc.
Top PGDM / MBA colleges offering this specialization in India (like IIM- Ahmedabad, IIM- Bangalore, NMIMS, ISB Hyderabad, JIMS Jaipur etc.) and abroad (like Harward, Stanford, MIT, Kellogg etc.) have designed the curriculum in sync with present and future industry requirements. At present, this is one of the most sought after specializations in the world!
The course curriculum has been designed in a manner that it covers the core fundamentals of business like Marketing, Finance and Human Resource Management, Operations etc. During the training, focus is on real time projects and work pertains to:
Management Programs like PGDM and MBA with specialization in Analytics focus on practical aspects as such graduates find quick placements with fat pay cheques.
Any graduate student who has basic analytical skills can opt for this specialization and look forward to crafting a great career.
If you have studied technical subjects in graduation like Mathematics, Statistics, Computer science, you will have an advantage but these are not mandatory.
There are plenty of job opportunities for management graduates if you have Business analytics as a specialization. Your demand in the job market will be enormous as the future has ample scope. There is a big gap between the demand and supply amd will remain that way for years to come as there are only a few institutes offering such specialization and that too with practical, real-life assignments.
Companies like Microsoft, McKinsey, Deloitte, Boston Consulting Group (BCG), Apple, Google, KPMG, HCL, Facebook etc or any of your dream companies will be within your reach during placements.
The different job roles after course completion are as follows:
Professionals with knowledge of business analytics will always have an edge over their peers. To conclude, if a graduate is looking for a lasting and rewarding career that is relevant across the globally – management program with specialization in Business Analytics is one of the great options!
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