Top Colleges for MBA in Business Analytics

Business analytics (BA) is defined as a process of systematic exploration of data from a business that can be used for decision making. The process depends heavily on statistical analysis and is engaged by organizations to drive informed decision-making. It helps corporate get insights about their performance, giving them a competitive edge. It also helps companies to improve and even automate business processes.

What is a PGDM/MBA in Business Analytics?

If you have an analytic mindset, an aptitude for statistics with business knowledge. You may be fascinated by tapping into this challenging and in-demand concentration. A PGDM /MBA in business analytics is a perfect way to launch your business analytics career. Principally if your primary interest is in the applied characteristics of the field- namely, managing business practices through data-driven decision-making.

PGDM/MBA in Business Analytics is a traditional Master of Business Administration (MBA) degree with a concentration in Business Analytics. This means that on your graduation, you’ll be a business administration professional first. With a greater understanding of data analytics tools, you will be knowing to leverage data insights to make better business decisions. An MBA specialization in B.A. gives graduates a competitive edge over their peers.

PGDM/MBA in Business Analytics is a multi-disciplinary program and contains training in several aspects. i.e technical skills, business fundamentals, management practices, leadership, and communication, in addition to the skills explicit to business analytics.

Eligibility Criteria (PGDM+Business Analytics)

As per AICTE for PGDM one need to have 50% marks in graduation, 45% in case of reserved, from a recognized university to apply for PGDM and need to have CAT, MAT, GMAT, XAT scores or have to appear for the entrance examination of the business school in case of MBA. 

Read more:- Eligibility Criteria for PGDM+ Business Analytics

What Do You Learn in PGDM/MBA in Business Analytics?

PGDM/MBA is intended to train business leaders, and the main area of education will be in business operations and management. An MBA program will provide you with a strong grip on business fundamentals, including both “hard” and “soft” business skills. These are taught through a fixed order of required courses, or “core subjects.”

Few of the courses you may complete as part of your MBA core include:

• Business Accounting
• Finance
• Marketing Management
• Entrepreneurship 
• Business Ethics
• Operations Management
• Macroeconomics
• International Business
• Microeconomics
• Human Resources

Business Analytics specialization will take you into specific business analytics and data skills, and teach you to analyze business problems through a data-driven lens. You’ll get hands-on practice using the most up-to-date business analytics tools, complete case studies, and projects, some of which may involve real-world data. Business analytics course is generally taught by professors with field experience, who can deliver real-world insights and advice.

Courses taught in MBA with business analytics

• Spreadsheet Modelling
• Accounting Analytics
• Marketing Analytics
• Financial Analytics
• Business Statistics
• Applied Regression
• Principles of Management Science
• Data Mining
• Forecasting and Modelling
• Business Analytics Strategy

The course for an MBA/PGDM in business analytics typically takes two years to complete on a full-time basis. Those students who are looking to start new careers or working people change professions are good candidates for full-time study.

What are your career options?

PGDM/MBA in Business Analytics gets absorbed as

• Business Analyst
• Business Analyst Industry Expert
• Data Analyst and/or SAS Programmer
• Business Analyst Project Manager
• Big Data Analyst 
• Data Warehousing Expert
• Business Intelligence Expert
• Data Mining Expert
• Marketing Manager
• Personal Financial Advisor
• Financial Analyst
• Management Analyst
• Business Intelligence Analyst
• Business Analytics Specialist
• Management Consultant
• Operations Analyst
• Supply Chain Analyst placement report 2020

CAREER PROSPECTS AND SCOPE OF DATA ANALYTICS    

It has been projected that data is likely to grow up to 50 times by 2020. Companies have to stay updated with the supplies of huge volumes of data so that they don’t become out-dated. So, experts who are well-versed in innovative analytics are considered to be crucial for organizations to adjust their business models and stay ahead of the competition. 

The possibility of data analytics In India comprises companies in banking, healthcare, fraud detection, e-commerce, energy, telecommunications, and risk management.

In addition to higher salaries and job placement rates approaching 100%, graduates with PGDM/MBAs in Business Analytics enjoy great flexibility and work-life balance. In 2018 a survey found that professionals who freshly graduated with a PGDM/MBA report working 43 hours per week, well below the 55 hours workweek told by most MBA grads. 

The average salary for a data analyst in India is Rs 10 to 12 lakhs per annum. Salary increases with the work experience. Data analysts with more than 5 years of experience often get up to Rs. 25 lakhs per annum. Senior data analysts with more than 10 years of experience could earn above Rs. 40 lakhs per annum. Today, data analytics has become a vast career option in India. As a result, the data analytics course is in huge demand.

Why Do Corporate Need Business Analytics?

In fact, Business Analytics is not new to companies. Companies since ages were using Business Analytics in some or other form but were very rudimentary. Business analytics in those days was conducted after-the-fact. Companies would measure their sales from a specific time and use this information to forecast sales for the same period in the future. Now, business analytics can be used to influence consumer behavior in real-time. For example, a company can use business analytics to modify the ranges of products presented to a customer based on their browsing pattern as they shop. This level of personalization needs a high degree of precise information and a swift way to apply it.

Companies want to measure their performance and make informed decisions. Their business decisions can include massive sums of money, thin margins of error, hard competition, and quick turnaround. Companies in this position identify themselves as “data-driven,” and place an extraordinary emphasis on making decisions backed by concrete information. Data-driven businesses make a point to gather not just high-volume but high-quality data, and trust the professionals with degrees in business analytics to help them make sense of it. How Does Business Analytics Work?

Business Analytics is indeed an umbrella term that includes two separate fields of practice: Business Intelligence and Advanced Analytics. Both are important ways to forecast future outcomes and guide decisions.

Business Intelligence is the process of studying historical data to understand how a department or product line within a business has performed over a specific time. It has been in practice for some time now and is a well-established practice. In fact, when Henry Ford transformed manufacturing with the introduction of the assembly line, he made a point to measure the time his staff spent in each step of automobile building and adjusted his processes consequently.

Is Pursuing PGDM in Business Analytics from a topmost college is Good for Me?

It’s undeniable that careers involving Big Data are among the hottest out there, and our survey of MBAs in business analytics shows that this degree is a great way to land one of these in-demand positions. But just because this field is eye-catching doesn’t mean it’s the right field for you. It will not give you a five zero salary package if you complete your PGDM from a top-tire college which offer business analytics In fact, it takes a very specific set of abilities and interests to succeed in business analytics. These include:

• Business acumen
• Leadership
• Technological aptitude
• Facility with statistics
• Decision making
• Strategic mindset
• Big picture thinking

If you find that your interests tilt closer to the technical side, you may be a better fit for a PGDM in BA. If you have strengths in both business and analysis, this MBA concentration may be a good fit for your future career.

Conclusion: 

It is believed that the following trends will dominate the world of analytics in 2020

Analytics will play an important role in data security and data insights. Analytics are already transforming variance privacy, invasion detection, digital watermarking and malware countermeasures.

The Internet of Things (IoT) will continue to grow fast. Logical and analytics tools and approaches for dealing with huge quantities of structured and unstructured data generated by IoT will continue to gain significance. Companies will speak their need to regularly monetizing their own data for financial gain.