Imagine your life without a mobile phone. No shopping apps, no social media, no access to information on tips. Scary right?
A similar situation is emerging today in the business world to survive without data. Organizations nowadays are highly data driven. They are collecting an ample amount of data from every possible source specially data that you generate through your mobile phone activities performed online.
When you use shopping applications, companies are observing and collecting data, they analyze the pattern of your shopping such as on which product you clicked, took in your cart, even the time when you usually do shopping, and then they provide you recommendations on which you’ll love to spend money. Similarly, your social media, binge-watch, ai applications that you use, and almost all of your activity is data and being analyzed for improved business predictions and better decisions.
Now you can understand that Business Analytics skills have become extremely valuable and can make a huge difference in the placement journey of PGDM students. Businesses today need people who can collect data,understand that data, identify meaningful patterns, and turn insights into business decisions. For management students, developing Business Analytics skills has become a powerful advantage in today's competitive job market
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What is Business Analytics and how is it important for PGDM students?
Business Analytics is the process of analyzing data with statistical techniques and analytical tools to understand business performance in every domain and finding insights for better decision-making.
It helps business to get answers to the questions like:
· Why are sales falling?
· Which products are performing best?
· Who are our most profitable customers?
· Why are customers leaving?
· Which marketing campaign is generating the highest return?
· How can inventory be optimized?
· Which employees are most likely to leave?
· Where can costs be reduced?
A Business Analytics professional analyzes these numbers, and understands what these numbers are telling for the business. PGDM aspirants do have a myth that business analytics is the technical skill and should belong to only technical people whereas the truth is that they need not to be data scientists to learn analytics. In management they need to understand data to be a useful asset for the organization.
According to The World Economic Forum's Future of Jobs Report 2025 the most sought-after core skill is analytical thinking, with approximately seven out of ten employers considering it essential. It is also found that AI and big data are identified as the fastest growing skills.
PGDM students are future managers who need to make data – driven decisions.
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PGDM students should learn these business analytics skills
Business Analytics is a vast subject. There are some skills which are relevant for management students.
1. Excel
Excel is one of the most powerful tools used by professionals for churning initial data. Professionals must understand Pivot tables, VLOOKUP/ HLOOKUP, IF functions, Charts, Data cleaning, Basic statistical functions and Dashboard creation. These are tools used to simplify data.
2. SQL
A large amount of data gets stored in databases. This data needs churning from time to time. Students targeting for analyst roles must know to use this tool.
3. Power BI or Tableau
Raw data is not useful for any organization. Power BI and Tableau help convert this raw data into visual dashboards and reports. These reports are useful in analyzing trends and making business decisions.
4. Statistics
Statistics is one of those subjects which every professional whether technical or non- technical must know. Mean, Median, Correlation, Regression, Probability, Sampling and standard deviation are the basics for data management.
5. Data storytelling
Business communication is all about communicating what happened, why it happened, what is the root cause and what is the solution to it. Students willing to make their career in analysis must know this storytelling. Their data must solve most of the business problems effectively and efficiently.
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PGDM Specializations and Business Analytics
No vertical of management can be managed without business analytics today. Students interested in marketing, Finance, HR etc. should combine business analytics for better career opportunities.
1. Marketing + Analytics
Students having interest in marketing must know to analyze Customer behaviour, Campaign performance, Conversion rates, Customer segmentation, social media performance and Customer acquisition costs. These are the most important data for organizations.
2. Finance + Analytics
Finance students can learn analytics for financial forecasting, Risk analysis, Profitability analysis, Investment analysis, Fraud detection, Budgeting. Finance professionals today are highly using these skills for handling today's finances.
3. HR + Analytics
HR professionals are highly using analytics for overall HR activities from recruiting to managing talent. HR analytics can help organizations in understanding Employee turnover, Recruitment effectiveness, Employee performance, Workforce planning and Absenteeism
4. Operations + Analytics
A large number of organizational activities depend on operations professionals. Students must learn Production efficiency, Inventory, Demand, Quality and Delivery performance.
Business analytic can be combined with all management areas and add value in students' resumes for better placements.
Analytics is an important skill which cannot be ignored by students to survive in the future of the corporate world but at the same time it is not the only skill, management skills like communication, teamwork, leadership and problem solving are also needed to be an excellent working professional.
Conclusion: Analytical skills strategy for modern managers
As PGDM students mark their way in the corporate world, having analytical knowledge opens up multiple opportunities for them. Every organization dealing with data needs managers to handle it professionally and that’s the skill recruiters look for. Business Analytics is a skill which makes them job ready by making them learn the practicability of theoretical teachings.
PGDM with business analytics creates professionals who know how to use analytics rather than simply being a core technical person. This skill not only gets them their first job but helps them build a long term career.
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