What if you could have all the relevant information right at your fingertips? This is exactly what business analytics can do for you!
Business Analytics is a hot topic in the market data industry. Business analytics involves the collection, management, analysis and visualization of data, usually big sets of data, available in a business environment. It is a critical aspect of enterprise management and is vital for any business that wants to stay competitive. Business Analytics is one of the top emerging career paths in the last few years. However, there are times when students are surrounded by N number of questions that race in their minds about business analytics course like what is a career in business analytics? Is this a growing industry? Is it a good career to pursue? Is this a viable career?
Here, in this blog, we will look to see a brief overview of business analytics, career opportunities involved and answer all your queries related to the field.
Is Business Analytics a Good Career?
Business Analytics is a highly sought-after skill in today’s job market. However, a lot of people are confused about whether to take up this career or not. Here, we analyse business analytics career growth and could it be a good career for you!
Business Analytics is a booming career in the education sector with an increasing demand for graduates. Business analytics career options are very potential and rewarding. Companies want students to learn the necessary skills for this industry but whether you should choose a career as a business analyst is another question. Here we look at business analytics career growth prospect, what skills it takes and whether it’s a good choice.
- Most demanding professionals in technology
- Equipped with this diverse knowledge to run the company
- A plethora of job opportunities
- Learn advanced technology
- High job security
- High-Paying Career Path
- Work across functional domains
- A job title can evolve depending on the nature of your profile
- Make a significant impact on the company and its future growth
- Grasp actionable intelligence for better decision making
Business Analytics Career Options in India (Job Opportunities)
As varied as the business itself, Business Analysts work in virtually every industry and almost every sector, from non-profits to public institutions. In short, the business analytics career options in business analytics are virtually limitless.
Let’s look at 10 common broad categories in which you might begin your career in business analytics-
Those with more technical skills may be interested in this position. The work involves combing through data analysing patterns and solving problems behind a desk. Having good computing and statistical skills will come in handy here.
Business Analyst Manager
In this job, you would be responsible for doing exactly what you were trained to do. You would gather data, analyse, and compute. However, you would not be working alone; rather, you would serve as a manager.
As a project manager, you will be responsible for managing projects for the company’s top clients. You will also be in charge of leading a team to complete a priority project. Their job will involve monitoring the team’s progress, setting goals for the team, and ensuring that these goals are met. Besides charting work progress, evaluating the abilities of the individual team members, and providing finalized reports on work progress, they would also serve as a conduit between upper management, the team, and the client.
Systems Architects build and configure computer systems. They will implement and maintain all aspects of the company’s computer system, including hardware, software, servers and overall security. To procure the necessary resources for a company, they must assess the resources needed for a computer network and make budget decisions.
A streamlined workflow is maintained by the Operations Specialist. These individuals are responsible for managing the flow of the workplace and coordinating day-to-day activities to optimize productivity and efficiency. Analysis of business operations, identification of customer needs, planning to improve productivity, maintenance of optimization reports, etc. would be part of their responsibilities.
Business Intelligence Analyst
Business Intelligence Analysts provide key information so that managers can make informed decisions. Professionals must analyze market data and gain key insights while translating it into a form that is understandable and actionable. In addition, they will be in charge of making critical suggestions that will help the business become more profitable.
Chief Information Manager/Officer
Both Chief Information Manager and Chief Information Officer refer to the same job description. This is an executive-level job that involves making all managerial decisions related to traditional information technology and computer systems. Their tasks include creating business values with technology, planning and managing business growth, assessing risk and developing future technology budgets.
Machine Learning Engineer
The majority of machine learning engineers hold an undergraduate degree in mathematics, physics, or statistics, along with a specialized master’s or PhD.
They help the organization’s data science team develop algorithms and programs. Furthermore, they enable machines to make decisions, act, and enhance user experiences without human interference, as they are externally controlled by a variety of algorithms.
IT Project Coordinator
As an assistant, the IT Project Coordinator will organize the work that drives the current project along with the Project Manager. It is the job of an IT Project Manager to monitor plans, schedules, work hours, expenses, and budgets of a project and ensure that predetermined deadlines are met. Participating in stakeholder meetings, documenting important decisions, evolving the project as necessary, assessing risks and issues, and coming up with an optimal solution are a few other tasks involved.
To improve its business strategy, a data scientist analyses large amounts of unsorted data and draws meaningful conclusions.
The role of a business analyst primarily entails implementing analytical models into specific business units and increasing their overall productivity. Strong programming skills and analytical abilities will give you a competitive edge in pursuing this career path.
How to Start a Career in Business Analytics?
Business analytics is a huge field and business analytics growth is phenomenal. However, sometimes it’s hard to know where to start. There are lots of terms, techniques and processes to learn.
Have you ever wondered what the future of business analytics career growth looks like and how can you get started & enjoy benefits from business analytics career options? If you have an analytical approach, a career in business analytics can give you the chance to use your skills to help guide businesses in making better strategic decisions.
You need to learn math, statistics, and the latest programming languages and tools used by companies today, including SAS, Hadoop, R and Python to begin a career in Business Analytics. As you will be working with significant decision-makers, you must have excellent communication skills, an analytical mindset, and the ability to make sense of a large amount of data.
However, a good place to start is by looking at the different roles of business analytics. Take a job with a company that provides on-the-job or internal training. Certifications related to Business Analytics provide you with the technical skills you need, but they do not compensate for on-the-job experience.
Business Analytics Career Scope in Future
Would you like to work in business analytics but don’t know how prevalent it is in India?
Business analytics is gradually helping businesses to understand their market, customers, consumer behaviour and other several factors that directly efficiently influence their business. In India, the scope for business analytics is quite broad. In future, analytics is going to play an important role in identifying consumer behaviour and will influence marketing strategies. And the importance of business analytics will keep on increasing in the coming years.
Businesses of every size and analytics skill level are getting into the big data game, which is growing and improving the scope of business analytics. For business analytics to be effective, you need a properly focused approach, cutting-edge technologies, the right people, a culture of transparency, and top management. Companies like IBM, Cognizant, and KPMG are using business analytics tools to make valuable and effective decisions.
Business analytics career options require a certain set of skills. To excel in a subject matter, in-depth analysis and quantitative skills are essential. As a result of a need to build a workforce that is knowledgeable in this area and qualified to take on the complex challenges that come with business analytics, institutes are now offering both regular and executive courses in this field. In addition to the regular colleges, several analytics coaching institutes provide their business analytics courses or work in collaboration with well-known organizations.
MBA in Business Analytics Salary in India
If you have an MBA, you’re guaranteed a higher salary package in any industry. MBAs in Business Analytics may find work in a range of industries such as information technology, healthcare, finance, e-commerce, etc.
Because of the growing importance of analytics in business, MBA Business Analytics professionals in India make an average of INR 11 lakhs a year. An experienced professional in the field can earn between INR 10 – 18 lakhs per annum, while freshers can expect to make around INR 5 – 8 lakhs a year. And senior-level executives can earn between INR 30 – 55 lakhs annually.
Any business can make use of Business Analytics in their business to drive the business towards better and desirable results. Today, business analytics is an integral part of businesses and the new age businesses are putting the largest investments into next-generation analytics software. Moreover, in the world of technology and globalization, a business cannot do without the help of analytics for business.
Business Analytics helps the business to make smarter and better decisions by analysing the data and metrics. It helps in finding areas for growth, fine-tuning the existing business process, ensuring profitability, and solving customer problems.
Therefore, with the rising number of businesses, there is a growing demand for business analytics professionals. The job market is becoming tough and to be one of the successful ones, you need to have a proper plan in place.
In an era of economic instability, business analysts have an important role to play in helping companies recover and grow.
Do you have an analytical mind and want to work in a business environment? Then a career in business analytics may be for you!
MADE Academy’s MBA/ PGPM degree in Business Analytics will help you to maintain your competitive edge in establishing your career as a proficient Business Analyst.
- The course has been designed in association with Noble Analytica (an industry leader in the SME sector).
- The course is taught by a mix of experienced and skilled professionals from industry, academia and consulting profession to impart a holistic view.
- The course will help you to gain detailed insight via data visualization. Also, it will teach you to quantify business value.
- Additionally, hands-on experience, industrial exposures, mock interview preparation assistance and 100% placement support.
We are ready to transform you into the next leader with our MBA in Business Analytics program! Will you join us?
Connect with us today!