What is Business Analytics?
Business analytics refers to the process of statistically analyzing data (historic data) and using emerging technologies by the businesses in order to discern an innovative insight and progress calculated decision-making. This course guides businesses in developing products, services and software through DATA analysis. People with this course bestride other co-workers or students as this course involves particularly bridging the GAP and improve efficiency.
Over the world, the corporate jobs have be in a rise, because technology is constantly rising and with that comes the services to maintain them and they especially require TECHNO-FUNCTIONAL attention. These Techno-functional jobs have been constantly in need over the decades but for a change these jobs profiles are in need by most of the firms as DATA is piling up. These Techno-Functional jobs can be fulfilled by taking up this course. You might be wondering, how they are related? Look closely and read carefully, the answer is right here. Techno means Technical skills which implies Analytics and Functional skills means Business acumen skills. Together the word BUSINESS ANALYTICS is going to rule the WORLD and it is serious.
The required SKILLS needed for specialization –
Completing the course might not be a piece of cake but with this course comes responsibilities and you should be constantly be brushing up with the new techniques impending in the market. Moreover, time and effort is constantly required for this course and obviously the career options are wide enough to be welcoming into which best suits you. If you taking up Business Analytics as a specialization, there are additional skills that are importantly required to support this field. The CORE Business Analytics skills include –
- A Good Communicator – You need to able to tell a tale with DATA through robust writing and presentation skills.
- Inquisitive – There should be in-built curiosity to constantly know the current trends in business insights and IT practices.
- Problem Solver – In this specialization, there would be a rigorous use of Logical thinking, Predictive Analytics and Statistics. Here every day, you will get to deal with complex problems and challenges which you have to be able to crack it.
- Critical Thinker – With complex challenges to solve, you should be able to think critically in terms of how to bring out the key solutions for the problems and you should be continuously be agile and learn about different scenarios. You should be able highlight the necessary data and provide a structured solution to the company.
- Visualizer – If you have large amounts of data and you don’t know nothing to do it, then it completely a waste but instead you should have the skill the to organize the data to the way firms needs it and you need try and see a bigger picture out of it. You should be able to try each solution possible and yield a viable solution to the firm.
Apart from these skills, there should be updating in the knowledge of technical know-how like knowing the programming languages for implementing statistics such as SQL, Python, and R etc.
WHY you need to STUDY Business Analytics?
A Business primary motive is to satisfy customers/consumer’s needs and that can be done when any business offers high-end quality goods and services. In order, to provide good products and services, there should be constant innovation in the firm. Innovation leads to R&D and it leads to analyzing the past data and the current data that firm has! In order to study the large amount of data and bringing out conclusions can be only done with this specializations of Business Analytics. This is a simple way I have tried to explain how Business Analytics is important.
Business Analytics brings out calculative decisions which leads to develop AGILITY in business and all of them reading this here knows how this AGILITY is important in this post-covid era or Industry 4.0.
Career Prospects in Business Analytics –
If you have true flair for number i.e. Mathematics, Statistics and you can draw out analysis from any piece of information, then it is a right specialization for you. Moving towards, Business Analytics as a career is hard but it is worth being Business Analytics Professional. This is because, with the world moving into technological front and data piling up every day, makes these professionals an alarming need! Their demand continues to grow always!
Here are some of the JOB PROFILES you can explore –
- Data Architect
- Data Analyst
- Chief Technology Officer (CTO)
- Chief Data Officer (CDO)
- Application Architect
- Project Manager
- Market Research Analyst
- Data Scientist
- Business Analyst
- Business Analytics Translator
And much more wide scope of job opportunities. Apart from these wide career prospects, it also offers hefty amount of salaries in both India and abroad. This specialization is a part of each specialization out there namely Finance, HR, Marketing and International Business in some or the other way. So, I truly hope I have provided with fruitful insights for you all in terms of this specialization. Hope you all have a good time attending the sessions organized by Mentoring Cell, SCMS Noida on 23rd April, 2021 and I hope you choose what’s best for you (RIGHT DECISION).